Emirates Business Blueair, the world’s leading indoor air purifying company, on Monday opened an office in fast growing Dubai that will serve as the hub for growing Blueair sales throughout the United Arab Emirates and Gulf region. The Blueair office will be responsible for developing sales throughout the Gulf Cooperation Group (GCC) of countries encompassing Bahrain, Kuwait, Oman, Qatar, ...

  Bloomberg There are limits to investors’ love affair with OPEC. After unprecedented optimism that the Organization of Petroleum Exporting Countries will manage to ease a global supply glut, money managers reduced their bets on rising West Texas Intermediate prices for the first time in a month. While the group and other major exporters are pumping less crude, US inventories ...

  Bloomberg Egyptian Finance Minister Amr El-Garhy said he expects surging inflation to peak by the end of the first quarter as the price shocks following an increase in fuel prices and the pound’s flotation fade. El-Garhy said policy makers expected prices to jump after currency controls were abandoned in November to help Egypt clinch a $12 billion International Monetary ...

  Bloomberg India’s monthly oil demand fell the most since May 2003 as the government’s crackdown on high-value currency notes continued to reverberate through the country’s $2 trillion economy. Fuel consumption fell 4.5 percent to 15.5 million tons in January from 16.2 million tons a year ago, the Oil Ministry’s Petroleum Planning and Analysis Cell said. Diesel use, which accounts ...

  Reuters State oil giant Saudi Aramco <IPO-ARMO.SE> has signed a contract with Chinese oil refiner North Huajin Chemical Industries Group Corp to supply crude in 2017, two sources with knowledge of the matter said on Monday. The contract, the first between Aramco and Huajin, comes as Saudi Arabia attempts to regain its status as the top crude supplier to ...

  Bloomberg In the snowy prairies of Western Canada, not even temperatures below -40 degrees have stopped Stampede Drilling Ltd.’s 60 recently rehired workers from manning the oil-service provider’s rigs after a nine-month dry spell for the business. “Once oil hit $50, everybody started phoning again,” Bill Devins, the drilling company’s 57-year-old owner, said in a phone interview from his ...

  Reuters Iraq, OPEC’s second-largest producer, plans to cut crude exports from its southern port of Basra to 3.013 million barrels per day (bpd) in March, a loading programme obtained by Reuters on Monday showed. The March volume is 628,000 bpd less than what was planned for February and the lowest since the August programme, adding to signs that Baghdad ...

  Bloomberg The election of Donald Trump in the US and the UK’s decision to leave the European Union are heightening economic risk in the euro area, the European Commission said, as it predicted growth would slow this year. In its first set of economic forecasts compiled since Trump’s victory and with the British government gearing up to officially trigger ...

  Bloomberg Toyota Motor Corp. recently ceded its title as the world’s best-selling automaker to arch-rival Volkswagen AG. Yet the Japanese company’s biggest adversary this year may be US President Donald Trump. Japan’s largest automaker expects profit to fall to 1.7 trillion yen ($15.1 billion) for the fiscal year ending next month, about a quarter less than the previous annual ...

  Bloomberg The Swiss government must come up with a new plan and figure out how to limit economic fallout after voters rejected its bid to reform corporate taxation to keep the country internationally competitive. Because Switzerland needs to end its current practice of giving thousands of multinationals tax breaks, the government will have to concoct a Plan B to ...