Emirates Business Central Bank of the UAE (CBUAE) hosted a workshop with People’s Bank of China (Central Bank of China) and the Agricultural Bank of China on “Improving the Renminbi Clearing in the UAE”. The aim of workshop was to present results ac-hieved by the RMB Clearing Centre to date, and to identify actions to be tak-en to improve arrangements ...

Bloomberg Oil rose on renewed optimism that production cuts announced by the Opec+ coalition will re-balance the market, while Libya’s biggest field remained shut. Futures in New York gained as much as 1.7 percent after slumping 3.1 percent amid uncertainty over implementation of the curbs by the Organization of Petroleum Exporting Countries (Opec) and its allies led by Russia. Saudi ...

DUBAI / WAM The Dubai Land Department (DLD), organised the LPS Shanghai, at the Shanghai Convention Centre, China. The DLD was accompanied by a delegation of senior real estate developers in Dubai as strategic partners of the show. The Dubai pavilion was inaugurated at the LPS Shanghai in presence of Rashid Matar Al Siri Al Qemzi, UAE Consul-General in Shanghai; ...

Bloomberg Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a potential $90-billion-a-year price tag, it’s too rich for them to ...

Bloomberg Big oil is investing more in US shale, not less, after the recent tumble in crude prices. The US shale sector has helped boost American production to an average of 10.9 million barrels a day this year, the most on record. Output is forecast to grow a further 11 percent next year, according the Energy Information Administration. ConocoPhillips said ...

Bloomberg France will save 39 billion euros ($44.5 billion) if it refrains from building 15 new nuclear plants by 2060, and bets instead on renewable energy sources to replace its all its aging atomic facilities, a government agency said. France should spend 1.28 trillion euros over the next four decades, mostly on clean power production and storage capacities, networks, and ...

Bloomberg Mexico plans to start awarding the construction of its seventh refinery as soon as March 2019, President Andres Manuel Lopez Obrador said at an event at the Dos Bocas port, in Tabasco, even as the nation´s refining system is operating at its lowest levels in three decades. Unveiling a plan for the nation’s refining system, Lopez Obrador said Mexico ...

Bloomberg Could nano flats — billed as one way of solving Hong Kong’s chronic housing shortage — be on the way out as quickly as they grabbed the public’s attention? Two years ago, when the developer of a residential project in the New Territories unveiled units smaller than a parking space, an executive was quoted as saying: “Even the emperor ...

Bloomberg US equities rallied with European stocks on optimism about the prospects for success in American-Chinese trade talks. Tech shares and automakers led the S&P 500 Index higher after China was said to move towards cutting tariffs on US-made cars. The Stoxx Europe 600 Index surged the most in eight months. The dollar was steady while Treasuries and core European ...

Bloomberg The UK has reached a crisis point and the pound is heading back towards its lowest levels since the Brexit vote, according to BlueBay Asset Management. A second Brexit referendum now seems the most likely outcome after Prime Minister Theresa May delayed Parliament’s vote on her divorce deal, according to the asset manager. The EU is unlikely to offer ...