March, 2017

• 15 March

  UAE can be a global force for good: Experts

  

    Dubai / Emirates Business The UAE can be a global force for good, education experts gathered at the ongoing GESS Dubai conference and exhibition say. In his keynote speech, His Excellency Hussein Al Hammadi, Minister of Education for the UAE, said the Emirates is putting a strong emphasis on the overall development of students which includes improving their academic ...

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• 15 March

  Mideast gasoline boom intensifies competition

  

    Bloomberg Expanding fuel shipments from the Persian Gulf will intensify competition from Europe to Asia, squeezing profits across the global refining industry and contributing to a looming glut of oil products. As Saudi Arabia, Iran and other crude suppliers build new oil-processing plants and upgrade old ones, the Gulf region is poised to become a net exporter of refined ...

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• 15 March

  Australia wins promise of more gas from energy majors

  

    Bloomberg Oil and gas executives have pledged to boost gas domestic gas production in Australia as Prime Minister Malcolm Turnbull seeks to bridge a supply shortfall threatening the nation’s energy security. The commitments by companies including Royal Dutch Shell Plc, ExxonMobil Corp. and Total SA will mean Australia avoids a projected shortfall of gas-powered electricity generation in the summer ...

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• 15 March

  Libya, Nigeria still on slow oil recovery path

    Reuters When OPEC reached a deal last year to cut oil output, the decision to exclude Nigeria and Libya from the restrictions was seen as a risk to the group’s efforts to curb a global crude glut. An oil price rally has already stumbled since the deal, but Nigeria and Libya are not to blame. Output from both nations ...

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• 15 March

  Iran signs $1bn deal on Mehdiabad mine

  

    Bloomberg Iran has signed a $1 billion deal with private investors to develop Mehdiabad, one of the world’s largest zinc mines, which it expects to go on stream in next four years and produce 800,000 ton-nes of zinc concentrate per year. The state-owned Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) said in a weekend statement it ...

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• 15 March

  Oil gains on US supply as IEA says time needed to drain glut

  

    Bloomberg Oil rebounded above $48 a barrel amid a reported decline in US crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Futures advanced as much as 2.4 percent in New York after slumping almost 11 percent the previous seven sessions. US inventories fell by 531,000 barrels last week, the ...

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• 15 March

  Cash ban brings down India’s gold imports

  

    Bloomberg It seems the only way to stop Indians from buying more gold is to take their money away. Prime Minister Narendra Modi’s government spent 16 months trying to persuade Indians to deposit their jewelry in the bank to earn interest, in an effort to curb soaring imports of the precious metal. But the program has only lured a ...

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• 15 March

  China to allow onshore bond buying via Hong Kong this year

  

    Bloomberg China will allow investors to buy mainland bonds in Hong Kong this year, Premier Li Keqiang said at a briefing on Wednesday, adding to recent moves to ease access to the nation’s debt market. Policy makers will allow overseas funds to buy onshore bonds in transactions carried out in Hong Kong, Li said on Wednesday at a press ...

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• 15 March

  Mitsubishi taps Rothschild for Australia mine stake

    Bloomberg Mitsubishi Corp., Japan’s biggest trading house, has hired Rothschild to sell its minority stake in an Australian thermal coal mine, according to people with knowledge of the matter. Mitsubishi is sending preliminary information to potential buyers for its 31.4 percent holding in the Clermont mine in Queensland state, according to the people. It will shortly seek expressions of ...

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• 15 March

  Sembcorp says India payment delays raising developer costs

  

    Bloomberg Sembcorp Industries Ltd. said recurring payment delays by Indian electricity retailers are piling on costs to operators and are bad for the renewable power business it wants to build. Payment delays risk “affecting development of the sector,” Sembcorp India Chief Executive Officer Vipul Tuli said in an interview in New Delhi. The local unit of the Singaporean conglomerate, ...

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