November, 2017

• 1 November

  Emirates unveils plane with new Expo 2020 design

  

  DUBAI / Emirates Business Emirates unveiled the first aircraft in its fleet with a new livery dedicated to Expo 2020 Dubai. The decal was installed on A6-EPK, an Emirates Boeing 777-300ER aircraft, at the Emirates Engineering hangar. The unique and striking livery is based on the Expo 2020 logo inspired by an ancient gold ring excavated in Dubai and it ...

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• 1 November

  Subway UAE to offer free sandwiches on Nov 3

  

  DUBAI / Emirates Business In what is certain to be big news for sandwich fans, Subway is celebrating World Sandwich Day with a huge free giveaway across the UAE. On November 3, Subway restaurants in the UAE will offer its customers a free sandwich. Redemption is easy, all you have to do is walk into any Subway UAE restaurant that ...

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• 1 November

  ADNIC reports AED178.5mn Q3 net profit

  ABU DHABI / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, announced on Wednesday its financial results for the first nine months of 2017. The company reported a net profit of AED 178.5 million for the period, an increase of 24% over the same period last year. Commenting ...

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• 1 November

  Oil majors find their way back to normality as earnings surge

  

  Bloomberg Oil supermajors are getting back to their normal way of life after surviving a price slump that shook the foundations of their business. BP Plc gave the boldest signal yet that the worst of the downturn was over, announcing that it would buy back shares for the first time in three years. After posting third-quarter earnings that comfortably beat ...

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• 1 November

  Gas retailers seek bounty in India’s blue-sky push

  

  Bloomberg A ban on dirty fuels in areas surrounding one of the world’s most polluted cities is set to spur sales at India’s natural-gas retailers. India’s top court last week banned the use of petroleum coke and furnace oil in areas around the Indian capital, which is battling alarming levels of air pollution that’s risking human health. The ban, which ...

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• 1 November

  Japan Osaka Gas plans to raise LNG resales to 3 million tonnes by 2020

  

  TOKYO / Reuters Japan’s Osaka Gas plans to raise its resales of liquefied natural gas (LNG) to third parties to 3 million tonnes a year by 2020, a top executive said on Wednesday, a move that would create more liquidity to Asia’s emerging natural gas markets. Most Asian LNG is supplied under fixed term contracts that include destination clauses that ...

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• 1 November

  Saudi leads Gulf region in cutting break-even oil price

  

  Bloomberg Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget. The kingdom will need oil to trade at $70 a barrel next year to break even, the Washington-based International Monetary Fund said in its Regional Economic Outlook for the Middle East and Central Asia. ...

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• 1 November

  Exxon to pay $300mn in US pollution cases

  Bloomberg Exxon Mobil Corp. agreed to pay more than $300 million to resolve air pollution violations tied to eight chemical plants in Texas and Louisiana, one of a pair of environmental settlements with oil companies announced by the Trump administration. Separately, Denver-based PDC Energy Inc. agreed to pay $22.2 million after storage tanks were found to be leaking smog-forming compounds. ...

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• 1 November

  Low oil prices dim GOP bid for budget bonanza in Arctic

  

  Bloomberg Congressional Republicans counting on a $1 billion windfall from selling oil-drilling rights in the Arctic National Wildlife Refuge to help pay for tax cuts may be in for a disappointment. Data from previous Arctic oil lease sales suggest the US is likely to collect less than a fifth of that billion-dollar goal over the next decade— about $145.5 million ...

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• 1 November

  Tencent’s e-book IPO sets stage for music arm debut

  

  Bloomberg China Literature Ltd., the online reading unit helping Tencent Holdings Ltd. build an entertainment empire, raised $1.1 billion alongside existing investors in its Hong Kong initial public offering, according to people with knowledge of the matter. The first-time share sale priced at the very top of a marketed range, the people said, asking not to be identified because the ...

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