April, 2017

• 23 April

  Russia highlights country’s literature

  

    Sharjah / Emirates Business Celebrating Russia’s culture of literary genius and the outstanding titles that have enriched world literature, representatives from the Russian section of the International Board on Books for Young People (IBBY) have attended the Sharjah Children’s Reading Festival 2017 (SCRF) as the UAE Board on Books for Young People’s Guests of Honour. Russian representatives showcased and …

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• 23 April

  UAE Space Agency to implement 14 ‘Year of Giving’ events, initiatives

    Abu Dhabi / Emirates Business The UAE Space Agency is implementing 14 special events and initiatives as part of its activities for the Year of Giving, which was declared by HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE. Among the Space Agency’s contribution to the Year of Giving is the Martyrs Badge initiative, in which badges …

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• 23 April

  Jebel Ali Customs Center seized 348 fake items in 2016

    DUBAI / Emirates Business Jebel Ali Customs Center, the modern facility and one of the major customs centers in Dubai, boasted a number of quality achievements during 2016. The center recorded 348 seizures of restricted, fake and prohibited materials. This means a 24 percent increase compared to 2015 which recorded 281 seizures. The center, which includes a client center …

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• 23 April

  Saudi plans more bond sales, cheap loans to companies

  

    Bloomberg Saudi Arabia may offer “almost interest-free” loans to companies in labor-intensive industries as part of a plan to stimulate an economy squeezed by low oil prices and spending cuts, Finance Minister Mohammed Al-Jadaan said. Al-Jadaan, speaking in an interview in Washington, also said the government is on track to slash its budget deficit by 30 percent this year …

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• 23 April

  US drilling growth shows first signs of cooling off at $50 oil

  

    Bloomberg US oil drillers slowed the pace of a months-long expansion as invest- ors worry that growing shale production will ruin OPEC’s efforts to prop up prices. Drillers added 5 rigs targeting crude this week, bringing the total to 688, according to Baker Hughes Inc. data reported. While all four of the biggest oil basins boosted activity this week, …

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• 23 April

  Exxon’s Russian drilling waiver request shot down

  

    Bloomberg Exxon Mobil Corp. won’t be allowed to bypass US sanctions against Russia to resume drilling for oil in a joint venture that seeks to tap billions of barrels of that country’s crude. Treasury Secretary Steven Mnuchin said the decision was made after consultation with President Donald Trump, according to a statement. Exxon initially requested the drilling waiver in …

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• 23 April

  BP’s Gulf of Mexico oil spill damage valued at $17.2bn

    Bloomberg BP Plc’s 2010 Gulf of Mexico oil spill caused damage to beaches, animals, fish and coral that the public values at $17.2 billion, according to a financial accounting released on the seventh anniversary of the disaster. The tally, published in the journal Science, is based on a survey of thousands of Americans that asked what they’d be willing …

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• 23 April

  Samsung BioLogics in talks for 15 pharma contracts

  

    Bloomberg Samsung BioLogics Co., an arm of South Korea’s biggest conglomerate, said it is in negotiations to manufacture drugs for more than 15 international pharmaceutical companies as it tries to expand in the growing industry for complex biologic medicines. The talks mostly involve US and European firms, Chief Executive Officer Kim Tae-han said in an April 19 interview at …

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• 23 April

  ‘China should open service sector to boost trade flows’

  

    Bloomberg China should open up its services sector to ease trade tensions with the US and bolster global trade, according to a senior official from the International Monetary Fund. The medical, health, legal and financial services sectors are among areas that could be liberalized, Changyong Rhee, the Asia-Pacific director at the IMF, said in an interview at a gathering …

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• 23 April

  Trump’s infrastructure plan a boon for iron ore

  

    Bloomberg US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program” and the steel will have to come from somewhere, Cormann said in an interview …

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