Abu Dhabi / WAM US technology company Leonardo DRS signed a teaming agreement with the UAE-based International Golden Group (IGG), to provide support for the UAE Armed Forces on a variety of electronic and related programmes. The agreement was signed on the sidelines of the International Defence Exhibition and Conference (IDEX 2019) which started on Sunday. The company’s Land Electronics Business ...

Abu Dhabi / WAM UK-based MSI-Defence Systems is displaying a full-scale model of its new Seahawk Multi Weapon Station (MWS), at at the Naval Defence and Maritime Security Exhibition (Navdex 2019). Now through development, the MWS mounting will be completing final performance firing trials in the UK during the show week. Designed for high structural stiffness and integrating high-torque zero-backlash drives, ...

Dubai / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, inaugurated the ‘DMCC Coffee Centre’ on Monday, during Gulfood 2019. The state-of-the-art 7,500 square metre temperature-controlled facility is the first of its kind in the Middle East. From crop to cup, the Centre offers cost-effective logistical support and services that connect ...

Bloomberg TransCanada Corp. was partly denied a request to continue some pre-construction work on the Keystone XL oil pipeline while a dispute over the project’s environmental review wends its way through the courts. The company won’t be allowed to prepare sites for construction camps, but it will be allowed to prepare pipeline-storage and container yards and receive pipe at those ...

Bloomberg The stage has been set for a European natural gas price war that will help boost demand and enable both Russia and the US to increase sales to the region. The battle won’t brutalize earnings too much because gas supply is just so profitable in Europe, where prices are more than double the prevailing level in the US. And ...

Bloomberg India is feasting on Venezuelan oil, after the US imposed a de facto ban on crude imports from the Latin American nation. While flows to the US came to a halt, India became the No. 1 buyer of Venezuelan crude in the first half of February, with imports jumping 66 percent to 620,000 barrels a day. Indian refiners Reliance ...

Bloomberg Warren Buffett’s Berkshire Hathaway Inc. is wading into the struggling Canadian energy industry, taking a stake in oil-sands producer Suncor Energy Inc. The purchase of 10.8 million shares, disclosed in a filing, was valued at $300.9 million. That marks at least the second time the Omaha-based firm has owned Suncor’s stock; Berkshire previously held a 22.3 million-share stake, which ...

Bloomberg Crown Prince Mohammed bin Salman said his country plans to invest a whopping $20 billion in Pakistan as he began a swing through Asia at a time when Saudi Arabia’s ties with the west have waned. The two nations signed memorandums of understanding in the energy and agriculture sectors, including one for a $10 billion oil refinery in southwestern ...

Bloomberg Thailand’s economy grew at a faster pace in the fourth quarter than the previous three months, as local demand helped to offset a slide in exports. Gross domestic product rose 3.7 percent from a year ago, up from a revised 3.2 percent in the third quarter, the National Economic and Social Development Council said on Monday. The median estimate ...

Bloomberg Singapore will boost spending on health care for its aging population, give some citizens a tax rebate and tighten restrictions on foreign workers ahead of an election that could come as early as this year. The government is projecting an overall budget deficit of 0.7 percent of gross domestic product in the year ending March 2020, compared with a ...