Dubai / WAM A joint working team was formed to reinforce the strategic partnership between the UAE and Saudi Arabia in the housing sector, to provide unified housing services and launch joint projects, as part of the work of the Saudi-Emirati Coordination Council. The team is responsible for launching joint housing initiatives, performing studies and presen-ting propositions to the council’s …

Bloomberg BP Plc agreed to sell its entire business in Alaska to closely held Hilcorp Energy Co. for $5.6 billion, ending a six-decade presence in the state as oil production there declines. The deal includes BP’s operating stake in Prudhoe Bay, the largest-producing oil field in US history, as well as all its Alaskan pipelines. It makes Hilcorp, the oil …

Bloomberg China’s world-leading train maker CRRC has gained control of one-quarter of the European diesel-locomotive market in a single purchase costing less than 10 million euros. The acquisition of the Vossloh AG business provides China Railway Rolling Stock Corp. with a major toehold in a region where rail travel is ousting cars and planes faster than anywhere else. CRRC’s Zhuzhou …