July, 2016

• 13 July

  SBA sponsors hold meet to discuss setting up of Emirates Librarians’ Assn

    Sharjah / Emirates Business The first step towards the establishment of an Emirates Librarians’ Association has been taken with an inaugural meeting held to discuss it in detail. Held at Sharjah Public Library, the meeting followed the call made by Sharjah Book Authority (SBA) in April for setting up of a dedicated librarians’ organisation to promote high quality UAE ...

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• 13 July

  LinkedIn reveals top priorities of UAE job seekers

  

    Dubai / Emirates Business LinkedIn, the world’s largest professional network, has announced findings from its annual 2016 MENA Talent Trends study providing new insights into job seekers’ top priorities, and how recruiters can effectively engage potential candidates and compete for the best talent. The findings ultimately reveal that almost everyone is interested in hearing about new job opportunities, even ...

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• 13 July

  Kuwait mulls privatisation of oil services, not output

  

    Reuters Kuwait is considering privatising its oil services sector, a senior finance ministry official said, although any plans would not include its production capability. The finance ministry and state-run Kuwait Petroleum Corporation are studying which sectors and services may be privatised, Undersecretary Khalifa Hamada told a news conference. Gulf governments are being forced to consider measures such as privatisations, ...

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• 13 July

  ‘Oil to trade as high as $60 until at least 2018’

  

    Bloomberg Crude oil will rise to a range of $50 to $60 a barrel until at least 2018 as demand increases and markets absorb an oversupply that’s led to lower prices over the last two years, according to the acting oil minister of OPEC member Kuwait. OPEC should stick with its policy of pumping at near record levels as ...

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• 13 July

  Libya govt set to reopen oil ports

  

    Bloomberg Libya’s government of national unity is working to reopen four of the OPEC country’s biggest oil ports after securing a deal to unify the fractured nation’s state energy company. Four ports accounting for about 860,000 barrels a day in crude-exporting capacity have been shut due to political turmoil and fighting. A July 2 deal to unify rival administrations ...

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• 13 July

  Kuwait plans to sell stakes in four oil units

  

    Bloomberg Kuwait is taking steps to sell minority stakes in as many as four units of the state oil producer as the Middle Eastern government plans to tap global capital markets for funds and improve efficiency in its most important industry. The government has a four-year plan to organize and execute sales of shares in the international units and ...

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• 13 July

  Saudi Arabia reform drive confronts jobs challenge

  

    Riyadh / AFP Their heads bowed, young Saudi men concentrate on exam papers in a workshop filled with industrial machines that will help them earn a living. The students at the Higher Institute for Plastics Fabrication (HIPF) learn to manufacture plastic bags, pipes, bottles and other products, skills they immediately put to work in what the government says is a ...

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• 13 July

  RBI braces for Basel battle as state struggles with debt pile

  

    Bloomberg The Reserve Bank of India is bracing for a fight on proposed changes to the global regulatory framework that would hit the country’s lenders with higher capital charges for the mountain of government debt on their books. Tighter rules would bite India’s banks, already struggling with surging bad loans and higher provisions. With nearly 30 percent of their ...

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• 13 July

  Oil companies shares gain as kerosene price rises

  

    Bloomberg Indian oil producers Oil and Natural Gas Corp and Oil India Ltd gained as the government was said to have allowed refiners to raise the price of kerosene each month for 10 months, reducing the burden of subsidies. ONGC rose as much as 6 percent to 241.55 rupees, the highest on an intraday basis in six months, and ...

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• 13 July

  Abe advisers urge coordinated stimulus

  

    Bloomberg Japan cut its forecasts for growth and inflation as two key advisers to Prime Minister Shinzo Abe urged coordinated stimulus from the government and the central bank to support the ailing economy. Current thinking in the government is for a fiscal package of about 10 trillion yen ($96 billion), according to people familiar with the discussions. Koichi Hamada ...

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