January, 2017

• 26 January

  Libya’s oil output at three-year high

  

    Bloomberg Libya is pumping 715,000 barrels a day of oil, the most since 2014, and is on track to keep boosting output this year as the country restores much of the production lost amid political chaos and conflict, the state oil company’s chairman said. Blockades at the North African state’s main oil ports have ended, and output may reach ...

  Read More »
• 26 January

  Delayed projects ease for Saudi’s Khodari

    Reuters Saudi Arabian construction firm Abdullah Abdul Mohsin al-Khodari and Sons said that the total value of its delayed work as of Dec. 31 last year was 312.7 million riyals ($83.4 million), a slight improvement from the previous quarter. As builders in the kingdom rely on the government for most of their contracts they’ve suffered as the pace of ...

  Read More »
• 26 January

  Global crude demand to keep growing into 2040s

  

    Bloomberg Global oil demand will keep growing into the 2040s due to higher consumption of plastic goods even as the electric vehicle fleet expands rapidly and technology revolutionises transport, BP said in its annual Energy Outlook on Wednesday. The forecast of sustained demand growth for the fossil fuel comes as other oil companies such as Royal Dutch Shell brace ...

  Read More »
• 26 January

  S’pore property comeback boosting large developers

  

    Bloomberg Yes, you heard it right — Singapore’s home prices are set to make a comeback after a three-year losing streak. And analysts think property developer stocks are the best way to play that rebound. Amid a restructuring push to boost a slowing economy, the government could signal its intention to reconsider property cooling measures as early as the ...

  Read More »
• 26 January

  Vietnam turns to Asia as Trump strikes blow to trade

  

    Bloomberg After years of relying on American consumers, Vietnam is turning to its Asian neighbors after US President Donald Trump dashed hopes for a Pacific trade deal that stood to benefit the export-reliant nation the most. The end of the Trans-Pacific Partnership “will push us to expand in other markets,” Nguyen Duc Kien, deputy head of the National Assembly ...

  Read More »
• 26 January

  China’s Aussie coal deal boosts link to fuel-hungry world

    Bloomberg China isn’t just buying Australia’s coal assets, it’s also expanding access to the limited infrastructure needed to ship it globally. Yancoal Australia Ltd.’s $2.45 billion purchase of the biggest slice of Rio Tinto Group’s coal operations will double the Chinese-owned miner’s output in the country. The deal also includes a 36.5 percent stake in Port Waratah Coal Services ...

  Read More »
• 26 January

  Line quarterly profit, sales miss estimates as growth slows

  

    Bloomberg Line Corp.’s fourth-quarter profit and sales fell short of analysts’ estimates, as advertising revenue growth failed to make up for declines in mobile game and digital stamp offerings. Operating profit was 1.6 billion yen ($14 million) in the three months ended Dec. 31, according to calculations based on full-year numbers released by Line on Wednesday. That’s less than ...

  Read More »
• 25 January

  UAE Energy Plan 2050 to attract ‘investments’

    Dubai / Emirates Business Having a long-term energy plan will boost sustainable long-term investments in the UAE, says a London Business School expert. This month, the UAE government unveiled a three-decade energy plan that aims to save the country billions of dirhams while still sustaining economic growth. Commenting on the new Energy Plan, Ioannis Ioannou, Associate Professor of Strategy ...

  Read More »
• 25 January

  Etihad expands Boeing 787 network to Levant, Far East

    ABU DHABI / WAM Etihad Airways unveiled on Wednesday plans for the deployment of its new Boeing 787-9 Dreamliners to key Levant and Far East markets in 2017. With a phased delivery of nine Boeing 787-9s this year, they will gradually be introduced on a number of routes from the airline’s Abu Dhabi hub beginning March 1. The 299-seat ...

  Read More »
• 25 January

  KIZAD posts robust growth

  

    ABU DHABI / WAM The total value of Khalifa Industrial Zone Abu Dhabi’s (KIZAD) contribution to Abu Dhabi’s gross domestic product (GDP) accounted for 3.2 percent of the emirate’s non-oil GDP, reinforcing the industrial zone’s status as a key facilitator of economic diversification. The KIZAD, part of Abu Dhabi Ports, has reported a solid performance in 2016, completing yet another ...

  Read More »