November, 2018

• 14 November

  ‘MaK’ brings value through service excellence

  

  Dubai / Emirates Business MaK Middle East LLC, a Caterpillar company established in Dubai in 2017, continues to reinforce its commitment to excellence in the region by providing quality services and sustained innovation. The company, a direct distributer of Caterpillar Inc’s medium speed engine brands; MaK, CM and EMD, as well as Napier and KBB turbochargers; has a dedicated facility ...

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• 14 November

  Etihad Credit Insurance initiates ‘accelerator programme’

  

  Dubai/ WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, announced its latest initiative, the National Accelerator Programme, an extensive 18-week training that has been especially designed for young Emirati nationals to give them a better understanding of government export credit insurance. Through this programme, ECI commits to an environment of comprehensive development and continuous learning for the ...

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• 14 November

  US likely to shelve new Russia sanctions as clock runs out

  

  Bloomberg Congress isn’t expected to pass legislation ordering new US sanctions on Russia before the end of the year, as lawmakers focus instead on government spending measures, judicial nominations and a farm bill, key senators said. A bipartisan group of senators moved swiftly over the summer to assemble new proposals for Russia sanctions following President Donald Trump’s summit with Russian ...

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• 14 November

  Mike Pence chides Myanmar’s Suu Kyi on ‘human rights’

  

  Bloomberg Vice President Mike Pence told Myanmar’s Aung San Suu Kyi that the US had concerns about human rights abuses in the Southeast Asian nation, saying there was no excuse for the violent crackdown on its minority Rohingya Muslim population. “This is a tragedy that has touched the hearts of millions of Americans,” Pence told Suu Kyi in a tense ...

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• 14 November

  UN lifts decade-old sanctions on Eritrea

  

  Bloomberg The United Nations lifted almost decade-old sanctions on Eritrea, potentially boosting the once-isolated Red Sea nation’s economy as it rebuilds relations with long-time foe Ethiopia. The UN Security Council’s move ends restrictions first imposed in 2009 on accusations Eritrea backed armed groups including al-Shabaab in Somalia. Eritrea has long decried the claims as baseless and politically motivated, while UN ...

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• 14 November

  Malaysia to charge former first lady

  Bloomberg Malaysian prosecutors will bring more charges against the wife of ex-Prime Minister Najib Razak on Thursday, the anti-graft agency said, stepping up legal action against a growing group of individuals surrounding Najib. Rosmah Mansor was called in by the Malaysian Anti-Corruption Commission on Wednesday. She will appear in court the following day to face charges in several cases linked ...

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• 14 November

  Macron at sea shows US-France ties stronger than Trump spat

  

  Bloomberg France’s Emmanuel Macron is heading to sea on his biggest warship a day after he suffered a tirade of abuse from Donald Trump. The trip, planned for weeks, will show France’s alliance with the US goes beyond any temporary disagreement between the presidents. France’s sole aircraft carrier, the Charles-de-Gaulle, the world’s most powerful vessel outside the US navy, was ...

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• 14 November

  Opec, allies will cut oil output as needed, says group’s president

  

  Bloomberg Opec and allied oil producers will cut or adjust production as needed to balance the market, the group’s president, United Arab Emirates Energy Minister Suhail Al Mazrouei, said on Wednesday. If Opec+ needs to reduce output, it will do so, he said in a Bloomberg TV interview in Abu Dhabi. The producers will take whatever steps are necessary to ...

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• 14 November

  IEA welcomes crude market’s return to surplus

  

  Bloomberg The International Energy Agency (IEA) welcomed the oil market’s return to surplus as Opec’s production surge sw-ells global stockpiles and drives prices into a bear market. Inventories in industrialised nations have increased for four straight months and are set to jump by 2 million barrels a day next half if current output is maintained, the IEA said in its ...

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• 14 November

  Power firm says its model can brave warmer world

  

  Bloomberg AES Corp, a long-time builder of coal-fired power plants around the world, published a report that projects how climate change could affect its business. The bottom line, the company says, is that its move away from carbon fuels means its business model holds up whether the world warms a lot or a little. The report, which AES says is ...

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