ABU DHABI / Emirates Business Agility, UPAC, and NREC, the consortium behind Abu Dhabi’s Reem Mall, a retail, leisure and entertainment destination, announced that financing for the $1.2 billion project is now complete, by signing the largest real estate asset based facility in the United Arab Emirates in 2017. “The business climate in Abu Dhabi is one of the things ...

Bloomberg OPEC has an Iraq problem: the group’s second-biggest exporter is lurching between quota busting and production-crimping crisis, clouding the policy-making picture as ministers decide how long they need to extend output curbs. After consistently exceeding its output quota all year, Iraqi production plunged in October when clashes between the federal army and fighters from the semi-autonomous Kurdish region disrupted ...

Bloomberg Centrica Plc will scrap its default tariffs for new customers by the end of March as part of a set of proposals for reforming the UK energy retail market. Removing the rolling plan, known as standard variable tariff, and replacing it with a choice of fixed-term contracts with a duration as long as three years will increase competition, the ...

BAGHDAD / Reuters BP and Eni are among companies that have expressed an interest in developing the giant Majnoon oilfield which Royal Dutch Shell plans to leave next year, Iraqi oil officials said. Shell has agreed to exit the Majnoon field in southern Iraq and hand over its operation to the state-run Basra Oil Co. by the end of June ...

Bloomberg China, the world’s biggest carbon emitter, is poised to install a record amount of solar-power capacity this year, prompting researchers to boost forecasts as much as 80 percent. About 54 gigawatts will be put in place this year, Bloomberg New Energy Finance said, raising a forecast of more than 30 gigawatts made in July. That amount of additional capacity ...

Bloomberg BHP Billiton Ltd. is aiming to complete its exit from the US onshore oil and gas sector within two years after settling on asset sales ahead of alternatives such as an initial public offering. “We’re determined to divest these businesses,” Chief Executive Officer Andrew Mackenzie said at an annual meeting in Melbourne. “We have concluded with our shareholders that ...

Bloomberg Ford Motor Co. and its Indian partner Mahindra & Mahindra Ltd. could create their own electric car line in the country to help battle pollution from the vehicles clogging India’s roads, Chairman Anand Mahindra said. Mahindra & Mahindra, which already sells the e2o micro electric car, would be open to creating a new electric vehicle line in India with ...

Bloomberg Hailing an Uber in India is a whole different game. Addresses are non-existent or rarely useful, while most people are using older smartphones in a place with limited mobile-data speeds. To tackle such challenges, Uber Technologies Inc. is rolling out new features in the world’s second-most populous nation. Customers can book rides on a new, lighter web-based version of ...

Bloomberg Chow Tai Fook Jewellery Group’s profit increased for a second consecutive six-month period as demand for gold products lifted sales at the world’s leading jewellery retailer. Net income rose 46 percent to $228 million in the six months through September, the Hong Kong-based company said in a statement on Tuesday. Revenue climbed 15 percent to HK$24.8 billion. The results ...

Bloomberg One of the world’s best-performing equity gauges is set for further gains in 2018 as tech giant Tencent Holdings Ltd. and consumer stocks drive it higher, according to Shanghai-based money manager Wang Menghai. The Hang Seng Index has led the charge among Asia’s biggest markets this year, rising 36 percent. Tencent, which has now overtaken Facebook Inc. in market ...