June, 2018

• 12 June

  Al Mansouri: UAE maintains positive economic growth

  

  DUBAI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy (MoE), said that preliminary estimates issued by the Federal Competitiveness and Statistics Authority (FCSA), indicate growth in the economic performance of the UAE in general; which came as a result of growth in oil resources and rise in international oil prices and growth in non-oil sectors. Al Mansouri also ...

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• 12 June

  Rakbank, Sage announce partnership agreement

  

  DUBAI / Emirates Business Sage, the market leader in cloud business management solutions, and the Rakbank announced a partnership agreement. This would entail Rakbank to offer Sage accounting software to support its Business Banking customers of all sizes and across all industries. Through this partnership, Rakbank’s business customers can benefit from Sage Business Cloud Accounting software at preferential rates. Sage ...

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• 12 June

  Emirates ups Luanda flights

  DUBAI / Emirates Business Emirates announced on Tuesday it will reinstate two weekly flights between Luanda and Dubai, increasing capacity to five flights per week between the two cities, starting from July 1. Customers can look forward to a daily service starting from the winter schedule. These additional flights will give passengers more travel choices and address the growing demand ...

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• 12 June

  Abu Dhabi malls to offer 90% discount on Eid Al Fitr eve

  

  Abu Dhabi / Emirates Business The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) in association with the Department of Economic Development of Abu Dhabi (DED) has announced a 24-hour mall mega sale, featuring discounts of up to 90 percent, as part of this year’s Eid Fest celebrations. With more than 1,500 stores involved, the sale will ...

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• 12 June

  Next up in China’s clean-air push is gas pipeline giant

  

  Bloomberg China’s push to eradicate smog by using more natural gas is set to get a boost as it pushes ahead with a plan to merge under one company a national pipeline network that would unify transport and investment decisions. Regulators are aiming to announce a decision before winter to combine oil and gas pipeline assets owned by its three ...

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• 12 June

  Russia boosts oil output to 14-month high

  

  Bloomberg Russia is showing signs of weakening its commitment to oil-supply cuts as production rises before crucial talks with OPEC about the future of the agreement. The nation boosted crude supply to the highest in 14 months in the first week of June as some companies breached their caps, said a person with knowledge of the matter. While both the ...

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• 12 June

  Solar beats gas, wind as biggest source of new US power

  

  Bloomberg Despite tariffs that President Trump imposed on imported panels, the US installed more solar energy than any other source of electricity in the first quarter. Developers installed 2.5 gigawatts of solar in the first quarter, up 13 percent from a year earlier, according to a report on Tuesday from the Solar Energy Industries Association and GTM Research. That accounted ...

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• 12 June

  Sempra Energy soars on Elliott’s bid to streamline and sell assets

  

  Bloomberg Sempra Energy shares had their biggest ever intraday gain as Elliott Management Corp. and Bluescape Resources called for a sweeping overhaul, including selling the company’s Mexican and South American utilities and spinning off its US liquefied natural gas business. The two activist funds together hold a 4.9 percent interest in Sempra — whose assets include San Diego Gas & ...

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• 12 June

  Single European power market gets closer

  Bloomberg The European Union’s vision of a single energy market will move a step closer on Tuesday with the start of a joint market for electricity delivered on the same day. The project, which requires close cooperation between rival exchanges and grid operators, will link 14 national markets from Latvia to Germany and Portugal. Most other European countries are scheduled ...

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• 12 June

  China’s Meituan plans to file for $6 billion IPO

  

  Bloomberg China’s restaurant review and delivery giant Meituan Dianping plans to file for an initial public offering of about $6 billion in Hong Kong as soon as this month, according to people familiar with the matter, the city’s second multibillion-dollar public listing by a tech startup this year. The company is considering selling about 10 percent of the company, the ...

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