Bloomberg Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying. Futures in New York advanced $3.72 this week and Brent oil topped $55 a barrel for the first time since February. Saudi Arabia’s pledge earlier this week to cut production by 1 million barrels a day ...

DUBAI / WAM Infrastructure projects valued at AED 10 billion are currently underway along the East Coast of the UAE, said Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure. The project are part of the 2018-23 five year plan, which includes the ministry’s investment programme and the projects undertaken by the Follow up Committee of the Initiatives of ...

JAKARTA / WAM/Reuters A Sriwijaya Air plane with 62 people on board lost contact after taking off from Indonesia’s capital Jakarta on a domestic flight on Saturday and rescuers said suspected debris had been found in the sea off the city, Reuters reported. The Boeing 737-500, en route to Pontianak in West Kalimantan, disappeared from radar screens after taking off ...