Dubai / Emirates Business The Department of Economic Development (DED) in Dubai and the Dubai World Trade Centre Authority (DWTCA) havesigned a memorandum of understanding (MoU) to facilitate business licensing and operations within their respective territories. The agreement will allow DWTCA to have access to the Trade Name Reservation System of DED, while companies licensed by DED will be …

  Abu Dhabi / Emirates Business Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) is inviting visitors to the last race of the Formula 1 season to step into the past of Abu Dhabi while at the Yas Marina Circuit. With racing taking place between November, 25 -27 and more than 60,000 fans expected on Yas Island from across …

  Dubai / Emirates Business Emirates National Oil Company (ENOC) honoured 15 strategic suppliers, selected from 158 shortlisted vendors, for their exceptional performance and value addition to ENOC’s business through innovation. The suppliers were awarded based on their performance and contribution to strengthening ENOC’s operational business at the recently held ‘Strategic Suppliers Recognition Award’ ceremony. The recognition ceremony is part …

  Abu Dhabi / Emirates Business Al Yah Satellite Communications Company (Yahsat) and EMEA Satellite Operator’s Association (ESOA) hosted a gala dinner to discuss opportunities for the satellite industry and identify ways of future collaboration. Prominent industry leaders from organisations including UAE Space Agency, Thuraya, Arabsat, SES, Arianespace, Telespazio, Inmarsat exchanged ideas and explored prospects. “Historically, satellite services have been …

  Abu Dhabi / Emirates Business ADNOC Distribution on Thursday announced the opening of Al Hadeetha service station at Al Hamra area in the emirate of Umm Al Qawain (UAQ). The new service station takes the total number of stations operating within the ADNOC Distribution network in Umm Al Qawain to 13. Open round-the-clock, the new service station comprising four …

  Dubai / Emirates Business DAMAC Properties on Thursday announced the launch of AKOYA Manarola, a unique collection of colourful villas directly facing the international golf course and nestled within AKOYA Oxygen. Inspired by the charming village of Manarola on the Italian Riviera, this vibrant community is where creative and passionate individuals find inspiration in the very place they call …

Bloomberg Facing pressure from OPEC to make a significant output reduction, Russia reiterated its readiness to freeze oil production at current levels, arguing that the offer amounted to a cut compared with next year’s plans. A production cap would mean Russia pumping 200,000 to 300,000 barrels a day less than planned in 2017, Energy Minister Alexander Novak told reporters in …

  LONDON / Reuters Libya’s oil production has risen by more than 40,000 barrels per day (bpd) to 567,000 bpd after repairs to power supplies to two oilfields, a senior Libyan oil source said on Thursday. Production on Wednesday was 60,000 bpd lower at 523,000 bpd because of power faults, now resolved, in the Waha and Dafa fields, NOC said. …

  BAGHDAD / Reuters Iraq’s Oil Minister Jabar Ali Al Luaibi is reshuffling senior officials in a bid to revitalise a ministry that wants to improve the OPEC nation’s ability to boost oil production, an Iraqi oil official said. Deputy minister of upstream operations, Fayadh Al Nema, will become deputy minister for refining operations, replacing Dhiaa Al Mousawi who is …

  Bloomberg Egypt may seek to raise as much as $6 billion from international bond sales through 2017, though the first issuance may be delayed due to market “volatility” after the election of Donald Trump, Finance Minister Amr El-Garhy said. The government is still weighing whether to tap markets next week, El-Garhy said in an interview with Bloomberg Television in …