Abu Dhabi / WAM The Emirates Red Crescent (ERC), opened the final phase of the Sheikh Khalifa’s Residential City for those affected by the floods that swept through the Hadramaut Governorate in Yemen during the past years. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The city consists of 607 housing units in ...

ABU DHABI / WAM Borouge awarded TechnipFMC, Maire Tecnimont, and WorleyParsons, three major contracts for the fourth phase of the Ruwais petrochemicals complex which will include the world’s largest mixed feed cracker. In a ceremony held in Abu Dhabi, Borouge signed Front-End Engineering and Design (FEED), contract, Project Management Contract (PMC), and a licence contract associated with the mixed feed ...

Bloomberg India said its fighter jets destroyed a major terrorist camp in Pakistan in the worst escalation between the nuclear-armed rivals since 2001, in an incident that Islamabad has described as a “grave aggression.” More than 300 people were killed in the air strikes at the camp belonging to terrorist group Jaish-e-Mohammed that has trained suicide bombers, according to an ...

Bloomberg The possibility of Britain exiting the European Union without a deal is coming into sharper focus for power, natural gas and carbon allowance traders as futures for next month start to expire. A no-deal Brexit could rattle traders because of the complicated links that hold the EU energy market together. For example, natural gas produced in Norway can be ...

Bloomberg The backlash against shale drilling in earthquake-prone regions — a thorn in the side of US energy companies for the past decade — reached China this week after a series of temblors killed two people and reduced homes to rubble. China’s biggest oil and gas producer halted drilling in an area of the country’s shale hub after three quakes ...

Bloomberg Global stocks dropped on Tuesday as the rush of optimism over US-China trade talks from earlier in the week faded. The pound rallied as UK Prime Minister Theresa May promised a vote to delay Brexit if her proposed deal fails. S&P 500 Index futures slid and European stocks edged lower after US President Donald Trump raised the possibility of ...

Bloomberg Indian stocks and the rupee bounced off the day’s lows as investors assessed the impact of the rising tensions between India and Pakistan against the backdrop of falling oil prices and buoyant emerging markets. The S&P BSE Sensex tumbled as much as 1.4 percent and the rupee lost 0.5 percent in reaction to an air strike on a terrorist ...

Bloomberg As key engines of loan growth in the world’s fastest-expanding major economy, they once were investor favourites. But now traders won’t go near India’s shadow banks. About $22 billion has evaporated from a group of almost two dozen non-bank financial companies (NBFC) since August 31, before confidence was rocked. And investors aren’t rushing to get back in, according to ...

Bloomberg Unlike Southeast Asia, India isn’t seeing any investment gains as global trade tensions disrupt supply chains. Foreign direct investment in the third-largest Asian economy fell 7 percent in the nine months to December, signaling slowing investment before upcoming elections. FDI inflows into India during the period was $33.5 billion, lower than the $35.9 billion in the year-ago period. The ...

Bloomberg Hong Kong’s Financial Secretary Paul Chan will have a much smaller pile of cash to distribute than last year when he presents the annual budget on Wednesday, and a longer list of problems to address. The economy has slowed as the trading hub found itself wedged between the US-China standoff and the property market has come off its record ...