November, 2018

• 5 November

  Strategy of Resolve initiatives aim to reinforce UAE-Saudi integration

  

  ABU DHABI / WAM The joint project working teams of the Saudi-Emirati Coordination Council held a seminar to implement the strategy of resolve initiatives, which was attended by Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future and Chairman of the Executive Committee, to begin the launch of joint strategic projects, achieve the aspirations of the leadership …

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• 5 November

  Hospitality sector to play key role in Emiratisation

  

  DUBAI / WAM As the UAE’s hospitality industry continues its rapid growth, it presents highly promising career opportunities for skilled professionals, especially Emirati youth. Hotels are increasingly looking out for local talent across operational and functional areas as part of their commitment to Emiratisation. At the Najah higher education fair in Abu Dhabi, Emirati job-seekers were seen showing a keen …

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• 5 November

  Oil slides to 6-month low as supply fears subside

  

  Bloomberg Oil traded near a six-month low as the prospects of a tight global market at the end of the year further receded after the US softened the restart of sanctions against Iran. Crude advanced 0.6 percent in New York. Sanctions against Iran were reimposed on Monday, though eight countries were allowed to continue temporarily buying some crude from the …

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• 5 November

  Shuaa Capital records 31% jump in Q3 profit

  

  Emirates Business Shuaa Capital reported its financial results for the quarter ended on September 30, with AED30.1 million in net profits, up 31% year on year, the group’s highest quarterly figure since 2008. Year to date, net profits stood at AED56.4 million (YTD 2017: net profit of AED 59.8 million). The group’s asset management business line saw a 35% increase …

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• 5 November

  China gas craze gets help from trucks as pipelines can’t keep up

  

  Bloomberg Gas is in such hot demand in China right now it’s allowing a quirky market to flourish: transporting fuel on trucks. Call them pipelines on wheels. The country’s top suppliers are loading liquefied natural gas onto tanker trucks and delivering it to users to make up for insufficient pipeline coverage inland. The method is so effective ENN Group is …

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• 5 November

  Equatorial Guinea expects $2.4bn oil investment by 2019

  

  Bloomberg Equatorial Guinea expects international oil companies to spend about $2.4 billion on the nation’s oil and gas industry by the end of next year, a government official said. The investment should include about 11 new wells, the official said, asking not to be identified because the information is private. They didn’t give a breakdown in spending by company. In …

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• 5 November

  Kurds add pipeline capacity to export Kirkuk oil

  

  Bloomberg Iraq’s semi-autonomous Kurds upgraded their oil export pipeline to accommodate future production growth from their region as well as from the contested Kirkuk area controlled by the central government in Baghdad. The Kurdistan Regional Government completed improvements to the pipeline to the Mediterranean port of Ceyhan by installing another pumping station in the Shaikhan area, the KRG’s Ministry of …

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• 5 November

  Encana founder slams $5.5bn Newfield deal

  Bloomberg Encana Corp.’s founder and former Chief Executive Officer Gwyn Morgan said he’s disappoi- nted by the driller’s $5.5 billion purchase of New- field Exploration, which moves focus to US and dashes hopes that company would represent Canada on world stage. Morgan, who named the oil and gas producer Encana to evoke “Energy Canada,” blames the move on PM Justin …

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• 5 November

  Tech slump drags on US stocks as crude advances

  

  Bloomberg US stocks were mixed as investors weighed the outlook for elections this week along with signals that a trade deal between the world’s biggest economies remains a ways off. Oil gained for the first time in a week. Apple Inc. led technology shares lower after a report it won’t boost iPhone production. The Nasdaq 100 Index led declines among …

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• 5 November

  Indian stocks fall after best week

  

  Bloomberg India’s stock indexes fell, tracking global peers lower, after capping their best week in more than two years. The benchmark S&P BSE Sensex dropped 0.2 percent to 34,950.92 at the 3:30 pm close in Mumbai after swinging between gains and losses at least four times. Thirteen of the 19 sector indexes retreated, led by a gauge of power-related companies, …

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