October, 2016

• 3 October

  Abu Dhabi Classics to launch new season

  

    DUBAI / Emirates Business A new season of Abu Dhabi Classics presented by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) begins this week with the first visit to the emirate by The West Australian Symphony Orchestra (WASO) for a night dedicated to 19th Century German composer Richard Wagner. The concert on Thursday, October 6 at Emirates Palace ...

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• 3 October

  Iran oil exports hit pre-sanctions high

  

    Reuters Iran’s total crude oil and condensate sales likely reached around 2.8 million barrels per day in September, two sources with knowledge of the matter said, nearly matching a 2011 peak in shipments before sanctions were imposed on the OPEC producer. The run-up from shipments of around 2.5 million bpd in August comes mainly from condensate, a light oil ...

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• 3 October

  Sawiris’ OTMT says dispute with Egyptian regulator has hit business

    Reuters Egyptian billionaire Naguib Sawiris’ OTMT said on Monday failure to resolve a dispute with the financial regulator had hit business and stymied growth, and the holding company would call a board meeting to discuss how to proceed. The dispute emerged six months ago and centres on breaches the Egyptian Financial Supervisory Authority (EFSA) says were involved in the ...

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• 3 October

  Saudi Electric to seek private funds for 5,400MW projects

    Reuters State-controlled utility Saudi Electricity Co said on Monday that its executive committee had agreed to invite private investors to participate in creating an additional 5,400 megawatts of generating capacity. The projects may be executed in phases, Saudi Electricity said without giving details. Saudi Arabia’s economic reform plans, announced this year, focus on saving the government money by introducing ...

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• 3 October

  Oil rises to three-month high as investors assess OPEC deal

  

    Bloomberg Oil climbed to the highest level in three months in New York as traders continued to assess last week’s change in OPEC policy. U.S. crude futures rose as much as 1.3 percent after advancing 8.5 percent last week. While OPEC outlined an accord to reduce production by as much as 750,000 barrels a day, its third-largest member Iran ...

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• 3 October

  Qatar’s Ras Laffan 2 condensate splitter to launch this month

    Reuters Qatargas, the world’s largest LNG producer, will start operations at its new Ras Laffan 2 condensate splitter by the end of this month, doubling the Gulf state’s capacity to process condensate, two sources with knowledge of the matter said on Monday. The 146,000 barrel per day (bpd) facility had been due to open in September but was delayed ...

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• 3 October

  Google combines cloud, corporate software offerings

  

    Bloomberg Google has repackaged its cloud services and corporate software and hardware offerings into a new unit called Google Cloud, the internet search provider’s latest attempt to catch leaders in the sector Amazon.com Inc. and Microsoft Corp. The new group, run by Google executive Diane Greene, includes web-based work software such as Docs and Sheets, machine-learning and digital-mapping tools ...

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• 3 October

  Facebook launches ‘lite’ Messenger overseas

  

    NEW YORK / AP Facebook is launching a “lite” version of its Messenger chat app. It is aimed at emerging markets, where many people use older phones that don’t have enough room to store or ability to run the full-featured application due to slower internet speeds or other issues. “Messenger Lite” will be available on Android devices in Kenya, Tunisia, ...

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• 3 October

  Google to tap Lazard to review potential bid for Twitter

  

    Bloomberg Google is working with a financial adviser to consider a potential bid for Twitter Inc., as the social-media company continues to explore a sale, according to a person familiar with the arrangement. In tapping Lazard Ltd., Google hasn’t indicated it will definitely make an offer for Twitter. But the move suggests that Google is evaluating the option, pitting ...

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• 3 October

  Spotify’s 40 million tunes won’t go far with CD-happy Japanese

  

    AP On a recent muggy afternoon in Tokyo, 21-year old Shintaro Naganuma joined several hundred customers browsing CDs at the eight-story downtown outpost of music retail chain Tsutaya. Having discovered a couple of new rock artists on YouTube, the third-year university student hit Tsutaya Co.’s flagship store in trendy Shibuya to look up their albums. That process encapsulates the ...

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