LONDON / Reuters OPEC’s deal to cut oil production is unlikely to result in a substantial reduction in actual supplies, some of the world’s biggest oil trading companies said, meaning the market is unlikely to rebalance until well into 2017. The price of crude oil has stabilised around $50 a barrel since the Organization of the Petroleum Exporting Countries ...

  Bloomberg The scale of the internal differences OPEC must resolve before securing a deal to cut supply was revealed Wednesday as the group’s latest output estimates showed a half-million-barrel difference of opinion over how much two key members are pumping. Venezuela and Iraq’s own figures on how much crude they produced in September were 565,000 barrels a day higher ...

  Bloomberg Oil dropped a second day on speculation the OPEC agreement to trim crude output won’t succeed in reducing supply. Futures fell as much as 1.8 percent in New York. Crude has climbed since the Organization of Petroleum Exporting Countries agreed on Sept. 28 to have a new output range of 32.5 million to 33 million barrels a day. ...

  MUSCAT / Reuters Oman, seeking to bolster state finances as low oil prices slash its revenues, will raise electricity prices for large government, commercial and industrial users at the start of next year, an official said on Wednesday. All government, commercial and industrial consumers of at least 150 megawatts per year will pay the higher tariffs, Qais Al-Zakwani, executive ...

  Bloomberg Investors in wind and solar power are getting more capacity for their money as the cost of the technology tumbles, making alternatives to fossil fuel more competitive. That’s the conclusion of Bloomberg New Energy Finance, which found dramatic improvements in wind and solar technology is helping to boost the amount of power generated from each plant — and ...

  DUBAI / Emirates Business Consumers in the UAE appear to agree with the current real estate market sentiment that now is good time to buy property, according to statistics from compareit4me.com, the Middle East’s leading finance comparison site. Using data from its mortgage comparison platform, compareit4me can reveal that there was an 119.5% increase in the number of people ...

  Dubai / Emirates Business Royal Caribbean Arabia has launched its new website, which has been completely reimagined to fit in to the palm of your hand. A mobile friendly designed interface, packed with exciting video content, which gives you a front row seat to onboard activities and entertainment. Additionally Royal Caribbean Arabia has done the planning for you, highlighting ...

  Dubai / Emirates Business Azizi Developments, a leading UAE-based real estate developer with global reach into international markets, has announced its newest project in the burgeoning district of Al Furjan: Azizi Plaza. The Plaza, a B+G+2P+12 structure, will encompass residential, commercial and retail space with fully furnished serviced apartments catered towards convenient, affordable luxury living for professionals and nuclear ...

  Dubai / Emirates Business Don’t miss out on experiencing life-changing technologies and first-in-the-region innovations at du’s stand this GITEX Technology Week, 2016. Staying true to the theme ‘simplicity is technology’s greatest advance’, demonstrations at du’s stand this year will feature simple innovation that will enhance the happiness of UAE citizens. Visitors will also be able to witness how du, ...

  Dubai / Emirates Business More than two-thirds of young national Arabs in the Gulf states still hope to land jobs with government, despite initiatives to encourage them to seek out careers in the private sector. This new finding from the eighth annual ASDA’A Burson-Marsteller Arab Youth Survey was unveiled by Sunil John, the CEO of ASDA’A Burson Marsteller, at ...