Bloomberg Oil speculators headed for the sidelines as OPEC members prepare to discuss freezing output in the face of signs the supply glut will linger. Money managers cut wagers on both falling and rising crude prices before talks between OPEC and other producers later this month. The meeting comes after the International Energy Agency said that the global oversupply ...

  Bloomberg Oil rebounded from the lowest close in more than a month after clashes halted what would be the first crude shipment from Libya’s Ras Lanuf export terminal since 2014. Futures rose as much as 2.1 percent in New York after losing 2 percent on Friday. The tanker Seadelta suspended loading after fighting started Sunday between local Petroleum Facilities ...

  Bloomberg Saudi Telecom Co. is exploring options for its indirect stake in billionaire T. Ananda Krishnan’s Maxis Bhd., the second-largest Malaysian wireless carrier by market value, people with knowledge of the matter said. The Gulf kingdom’s biggest telecommunications operator is gauging interest in its 25 percent holding in Binariang GSM Sdn., which is the controlling shareholder of Maxis, according ...

  Bloomberg Saudi Aramco plans to shut two refineries towards the end of this year for scheduled maintenance, four sources close to the matter said, which could free up more of the state oil company’s crude for export. Saudi Aramco has scheduled maintenance at its refinery in Yanbu and its largest refinery in Ras Tanura in November and December, the ...

  Bloomberg Few things motivate Samsung employees like the opportunity to take advantage of weakness at Apple Inc. Earlier this year, managers at the South Korean company began hearing the next iPhone wouldn’t have any eye-popping innovations. The device would look just like the previous two models too. It sounded like a potential opening for Samsung to leap ahead. So ...

  Relaxnews American movie star Leonardo DiCaprio recently unveiled a new, free technology that allows users to spy on global fishing practices, in a bid to curb illegal activity in the oceans. The technology, known as Global Fishing Watch, was officially released to the public during the Our Oceans Conference hosted by US Secretary of State John Kerry in Washington ...

  Bloomberg Sony Corp. recently released two new versions of its PlayStation 4 gaming consoles: the PS4 Pro, a powerful device designed to run virtual reality games and display high-quality video, and a slimmer, more efficient version of the PS4, an incremental improvement on the original, which was first released in November 2013. The PS4 Pro will go on sale ...

ABU DHABI/ WAM Market capitalisation of the Abu Dhabi Securities Exchange (ADX) reached AED441 billion during the first eight months of 2016, registering an increase of AED30 billion in the market value of shares of listed companies. Rashid Al Baloushi, CEO of ADX, noted that the increase in market capitalisation is a result of the positive performance of its listed ...

  FUJAIRAH / WAM The UAE’s first berth for very large crude carriers (VLCC) will be inaugurated in the Indian Ocean sea port of Fujairah on Wednesday, September 21, by H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah. Fujairah’s oil terminal, considered the world’s largest bunkering facility in terms of operational capacity, is set ...

  DUBAI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, has recognised the Mawarid Finance Group of Companies for supporting the emiratisation of jobs in auditing, financial services and financial management, with a focus on hiring Emirati women. The honour recognises an initiative of the Accountants and Auditors Association’s financial services committee to determine the number of Emiratis ...