July, 2017

• 10 July

  Emirates NBD announces signing of first trading member in UAE’s equity markets

  

  Dubai / WAM Emirates NBD announced that it will provide clearing member services to its subsidiary, Emirates NBD Securities, making the brokerage firm, the first trading member to sign with the bank. The announcement follows Securities and Commodities Authority (SCA), UAE’s approval of Emirates NBD as its first general clearing member providing clearing and settlement services to trading participants of ...

  Read More »
• 10 July

  RTA gears up to host IRF MENA congress in Oct

  

  Dubai / WAM The Roads and Transport Authority (RTA) in Dubai is gearing up for hosting the inaugural International Road Federation (IRF) Middle East and North Africa (MENA) Regional Congress and Exhibition on October 29, 31. A number of specialists and experts from around the globe will take part in the event to share expertise and engage in discussions about ...

  Read More »
• 10 July

  EPA, SBA discuss ways to develop publishing industry

  

  SHARJAH / WAM The Emirates Publishers Association (EPA) and the Sharjah Book Authority (SBA) recently convened a meeting to explore ways to develop the publishing industry in the UAE and the Arab world, as well as strengthen the presence of Emirati publishers in the regional and global publishing arenas. The meeting aligns with both entities’ long-term strategy to enhance collaboration ...

  Read More »
• 10 July

  Libya, Nigeria may be asked to cap oil output, says Kuwait

  

  Bloomberg Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort to help re-balance the market, Kuwait Oil Minister Issam Almarzooq said. OPEC and non-OPEC producers have invited the two African nations to their committee meeting in St. Petersburg, Russia, ...

  Read More »
• 10 July

  Aramco to spend $300bn, CEO warns on world oil supply

  

  Bloomberg Saudi Aramco, which plans what could be the world’s biggest initial public offering, will invest more than $300 billion over the next decade to maintain its spare oil-production capacity and explore for more natural gas, President and Chief Executive Officer Amin Nasser said. The outlook for oil supplies is “increasingly worrying,” with about $1 trillion in investments lost during ...

  Read More »
• 10 July

  India buys first US crude oil to step up purchases

  

  NEW DELHI / Reuters India, the world’s third-largest oil importer, will import crude oil from the United States for the first time after Indian Oil Corp bought a cargo that will be delivered in October. The purchase comes after Indian Prime Minister Narendra Modi’s visit to the US in June when President Donald Trump said his country looked forward to ...

  Read More »
• 10 July

  Trump-touted LNG deal hinges on Norway link for Polish firm

  

  Bloomberg After President Donald Trump’s exuberant visit to Warsaw last week, where he encouraged Poland and its east European neighbors to buy US liquefied natural gas, it’s time for sober calculations by Poland’s gas company. PGNiG SA Chief Executive Officer Piotr Wozniak said in an interview that the state-controlled company is already in talks with potential suppliers to fill the ...

  Read More »
• 10 July

  ‘OPEC-US shale tussle’ killing off older oil fields

  

  Bloomberg The tussle for supremacy between OPEC and US shale drillers is killing off older oil fields at the fastest pace in almost a quarter century. That could hurt the industry once the current glut has faded. The three-year price slump triggered by the battle for market share choked off funds for aging deposits elsewhere, accelerating their decline. Output at ...

  Read More »
• 10 July

  China takes lead in Pacific shipping after $6.3bn deal

  

  Bloomberg China is the new leader of shipping trade to the Americas. State-owned Cosco Shipping Holdings Co.’s $6.3 billion offer to buy Orient Overseas International Ltd. would create an entity that’s the biggest shipping company moving boxes to the North American continent from Asia, beating Copenhagen-based A.P. Moller-Maersk A/S and France’s CMA CGM SA. The takeover, announced in Hong Kong, ...

  Read More »
• 10 July

  Sunac to pay record $9.3bn for Wanda Hotels, Theme Parks

  

  Bloomberg Sunac China Holdings Ltd. agreed to buy hotels, land and projects from Dalian Wanda Group Co. for 63.2 billion yuan ($9.3 billion) in China’s largest property deal, as billionaire Chairman Sun Hongbin moves to take advantage of competitors shedding assets. Sunac will buy 76 hotels from Wanda through a unit and will purchase a 91 percent stake of 13 ...

  Read More »