DHAHRAN / WAM The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings on Monday announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company BV (AOC), to purchase a 17 percent stake in South Korea’s Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings. The investment is valued at approximately $1.25 billion. AOC’s …

Emirates Business Etihad Airways, the national airline of the UAE, has announced a new deal with Amadeus to transform its global load control system. The partnership will be launched worldwide to support Etihad Airways’ ongoing mission to improve operational capabilities and efficiencies. Etihad Airways will use Amadeus Altéa Departure Control Flight Management to improve productivity with increased automation and integration, …

DUBAI / Emirates Business Beautyworld Middle East 2019, region’s largest international trade fair for beauty products, hair, fragrances, and wellbeing opened in Dubai on Monday, featuring 1,790 exhibitors from 66 countries. Running until April 17 at the Dubai International Convention and Exhibition Centre, the 24th edition of the annual three-day event was opened by His Excellency Eng. Dawood Abdulrahman Al …

Bloomberg Oil companies in Norway may pay some of the highest taxes and wages in the world but they could always count on support in the halls of power. Then last week the country’s biggest political party pulled out the rug from under that certainty in a dramatic policy shift to abandon support for drilling off the Lofoten islands. As …

Bloomberg Papua New Guinea’s Finance Minister James Marape has left the government, citing differences with Prime Minister Peter O’Neill over resources policy, days after the state signed a deal with France’s Total SA on a liquefied natural gas expansion project. Marape announced his resignation in a Facebook Inc. post, saying his voice was not being heard on policy-related matters, including …

Bloomberg The Estonian government has decided not to proceed with an application for a 600-megawatt wind farm by developer Saare Wind Energy OU, citing security concerns. The company had been drawing up plans for four years and had applied for a 50-year building permit for 100 six-megawatt turbines off the island of Saaremaa. The cost of the project was estimated …

Bloomberg Private-home sales in Singapore soared in March as developers marketed more projects after a typically slower February that included the Chinese Lunar New Year holiday. Developers sold 1,054 units last month, more than double the 455 in February, the Urban Redevelopment Authority said in a statement. Residential home prices decreased for a second straight quarter in the three months …

Bloomberg US stocks slipped as the latest results from major banks disappointed. Treasuries were little changed with the dollar. The S&P 500 Index halted a three-day advance as Goldman Sachs Group Inc retreated after missing estimates for sales and trading revenue. Citigroup Inc was little changed after its revenue matched expectations. The benchmark for American equities is near a six-month …

Bloomberg Indian equities rose, with key indexes rebounding from a weekly decline, on better-than-expected earnings at the nation’s biggest software exporter and a weather office outlook that predicted a near-normal rainfall this year. The benchmark S&P BSE Sensex gained 0.4 percent to 38,905.84 in Mumbai, more than recouping last week’s 0.2 percent decline, its first weekly drop in eight. The …

Bloomberg It began as an inquest into what went wrong. Now the Federal Reserve’s policy rethink may be widening to include the part the central bank thought it had gotten right. Inflation keeps falling short of the Fed’s target, and that was the trigger for what’s supposed to be a months-long review of strategy. Now, policy makers are being drawn …