November, 2018

• 5 November

  DFM posts AED103.7mn net profit in nine months

  

  DUBAI / WAM Dubai Financial Market (DFM) on Monday announced its financial results for the first nine months of the year ending September 30, registering a net profit of AED103.7 million. According to a press statement, total revenue reached AED251.9 million during the nine months’ period ended September 30. The revenue is comprised AED154.3 million of operating income and AED97.6 ...

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• 5 November

  UAE gains ITU Council membership

  

  Dubai / WAM The UAE was elected as a member of the International Telecommunications Union (ITU), Council for the fourth consecutive term. Member states at the 20th ITU Plenipotentiary Conference on Monday completed the election process for the ITU Council and Radio Regulations Board for the 2019-2022 period. The UAE garnered 164 votes, and was elected as member in the ...

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• 5 November

  EGA inks deal with ADM to construct sports stadium

  

  ABU DHABI / WAM Saif Bader Al Qubaisi, General Manager of Abu Dhabi City Municipality (ADM), and Dr Ali Al Zarouni, Deputy Executive Director of Production, Technology Development and Transfer at Emirates Global Aluminum Company (EGA), signed an agreement under which EGA will construct a sports stadium at Al Samha. The initiative is intended to bring happiness to community members, ...

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• 5 November

  RAK sees double digit growth in international visitors

  

  Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA), the government body that develops the emirate’s tourism infrastructure and initiates its domestic and overseas promotions, on Monday announced its consolidated results for the first three quarters of 2018. The organisation reported growth of 11.2 per cent in international guests in the first nine months of the ...

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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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