January, 2017

• 24 January

  China’s Cnooc raises spending first time since oil drop

  

    Bloomberg Cnooc Ltd. plans to raise capital spending for the first time since crude began its crash in 2014 as China’s biggest offshore oil and gas producer prepares for life after the slump and a second year of falling output. The Beijing-based explorer will increase expenditure, including in the Gulf of Mexico, to 60 billion to 70 billion yuan ...

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• 24 January

  Robots take over oil rigs

  

    Bloomberg The robot on an oil drillship in the Gulf of Mexico made it easier for Mark Rodgers to do his job stringing together heavy, dirty pipes. It could also be a reason he’s not working there today. The Iron Roughneck, made by National Oilwell Varco Inc., automates the repetitive and dangerous task of connecting hundreds of segments of ...

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• 24 January

  Foxconn weighs $7bn US display plant

  

    Bloomberg Foxconn Technology Group is considering building a US display-making facility for upwards of $7 billion, a major investment for Apple Inc.’s main manufacturer that may create tens of thousands of American jobs during President Donald Trump’s first year in office. The company is considering a joint investment with Sharp Corp., the Japanese display supplier it bought last year, ...

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• 24 January

  LG inks LCD panel supply pact with Samsung

  

    Bloomberg LG Display Co. has scored a deal to supply television displays to rival Samsung Electronics Co. from as soon as this year, people with direct knowledge of the matter said. LG Display, a major supplier of panels to Apple Inc., will replace a venture between Sharp Corp. and Foxconn Technology Group as a supplier to the world’s biggest ...

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• 24 January

  Yahoo’s 4Q shows modest strides amid security breach fallout

  

    Bloomberg Yahoo’s financial performance improved slightly during the fourth quarter while the company dealt with the fallout from massive security breaches that have jeopar- dized the $4.8 billion sale of its internet operations to Verizon Communications. The fourth-quarter report provided the latest snapshot of a shrinking company that has been steadily losing ground in the digital advertising market that ...

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• 23 January

  Trump pulls US from Pacific trade accord

    Bloomberg President Donald Trump abruptly ended the decades-old US tilt towards free trade by signing an executive order to withdraw from an Asia-Pacific accord that was never ratified and promising to renegotiate the North American Free Trade Agreement. “Great thing for the American worker, what we just did,” Trump said on Monday after signing an order withdrawing the US ...

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• 23 January

  ADFD injects AED1.47bn into Sudan to stimulate economy

    ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) deposited AED1.47 billion into the Central Bank of Sudan (CBOS) to secure increased liquidity and stimulate economic growth in Sudan. Mohammed Saif Al Suwaidi, Director-General of ADFD, signed an agreement to that effect with Hazim Abdegadir Ahmed Babiker, Governor and Chairman of the Board of the CBOS. Reaffirming the ...

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• 23 January

  India welcomes Mohamed’s visit

    Abu Dhabi / WAM Navdeep Suri, Indian Ambassador to the UAE, has praised the exceptional ties between the UAE and India, which have witnessed unprecedented development in investment and trade relations, among others. India will welcome His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces on 26 ...

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• 23 January

  Dubai’s DP World creates $3.7bn investment vehicle

    DUBAI / REUTERS Dubai ports operator DP World said it was partnering with Canadian pension fund manager Caisse de dépôt et placement du Québec to create an investment vehicle worth $3.7bn that would invest in ports and terminals worldwide. DP World will hold a 55% share in vehicle while Caisse de dépôt, a long-term institutional investor that manages funds ...

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• 23 January

  Over 800 media contingent to cover IDEX, NAVDEX 2017

    ABU DHABI / WAM Abu Dhabi National Exhibitions Company (ADNEC) on Monday announced that over 800 media representatives from around the world will cover the upcoming editions of the International Defence Exhibition and Conference (IDEX), and Naval Defence Exhibition (NAVDEX) 2017. Held in collaboration with UAE Armed Forces under the patronage of His Highness Sheikh Khalifa bin Zayed Al ...

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