Abu Dhabi / WAM The Integrated Transport Centre (ICT), and Abu Dhabi General Services Company, Musanada, announced that work is progressing according to the agreed construction plan and in line with the set delivery schedule in the Sheikh Zayed bin Sultan Road extension project at Umm Lafina and Al Reem Islands at a total cost of approximately AED1.131 billion. Envisaged to ...

Bloomberg The US and China agreed to the first phase of a broader trade agreement that will see the US reduce tariffs, and at least temporarily calm fears of an escalating trade war between the world’s two largest economies. The deal announced hinges on China increasing purchases of American farm goods such as soybeans, and making new commitments on intellectual ...

Bloomberg A new law on Indian citizenship is threatening to pull Prime Minister Narendra Modi’s focus away from a flagging economy as protests and criticism builds against the divisive plan. The government was forced to call in the army to quell protests in some parts of the country after the parliament passed legislation that will prevent undocumented Muslim migrants from ...

Bloomberg Oil settled above $60 a barrel for the first time since missile strikes on Saudi Arabia sparked a record price surge three months ago. Futures closed 1.5% higher in New York, buoyed by a partial truce in the US-China trade war that has imperiled demand all year. “The market has just priced in this outcome to a certain extent ...

Bloomberg Pakistan’s Energas plans to start the nation’s largest liquefied natural gas import terminal in 2021 to help meet soaring demand once it gets the green light to build the project. Energas, a consortium of large domestic users, aims to begin construction of the $140 million to $160 million facility next year, Chief Executive Officer Anser Ahmed Khan said in ...

Bloomberg WPX Energy Inc is in talks to buy the oil and gas exploration assets of closely held Felix Energy for about $2.5 billion, according to people familiar with the matter. WPX Energy could announce a deal with Denver-based Felix Energy later this month, said one of the people. No final decision has been made and talks could fall through, ...

The US dollar’s position as the world’s reserve currency might be weakening. In the last few years, the fraction of global reserves denominated in dollars has been inching down: This follows a longer-term slide; at the turn of the century more than 70% of reserves were in dollars. Meanwhile, central banks are buying more gold, which could signal a lack ...

Christine Lagarde is famous for her lively and engaging speaking style. But when she holds her first press conference as president of the European Central Bank, she would be wise to play it safe. It takes time to build a reputation as a central banker who can speak clearly and then deliver on her promises. A wrong foot could make ...

Along with never invading Russia or getting into a Twitter argument, we can add another golden rule — this one specifically for US oil majors: Never buy a shale-gas business. Chevron Corp.’s $10-11 billion impairment relates mostly to the Appalachian gas assets it picked up in 2011’s $4.9 billion acquisition of Atlas Energy Inc. Back then, the Permian basin was ...

Federal Reserve Chair Jerome Powell and his colleagues sent a message with their final interest-rate decision of 2019: Don’t expect us to be subject to the whims of America’s ever-shifting trade policy in the year ahead. The Federal Open Market Committee, in its first unanimous decision since May, kept its benchmark lending rate unchanged in a range of 1.5% to ...