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Oil market deja vu triggers predictions of a return to $30

  Bloomberg Oil’s climb above $45 a barrel is reassuring influential figures from BP Plc to the International Energy Agency that the industry is finally recovering from the worst slump in a generation. Others say the market is about to fall into the same trap as last year. There’s a sense of deja vu at Commerzbank AG, BNP Paribas SA ...

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Despite brutal carnage, Aleppo excluded from fighting ‘freeze’

  Aleppo / AFP Regime aircraft pounded rebel areas of Syria’s second city Aleppo, which was left out of a deal to “freeze” fighting from Saturday despite international outrage over renewed violence. Shelling and air raids in Aleppo over the past week have killed more than 230 civilians and pushed a landmark February 27 ceasefire to the verge of collapse. Crude ...

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Hundreds protest outside Trump speech in California

  Burlingame / AFP Hundreds of demonstrators jostled with police in riot gear outside a California hotel where Republican presidential frontrunner Donald Trump gave a speech, forcing the candidate to duck into a back entrance. At one point, several dozen protesters broke through barricades and attempted to storm the hotel where the California Republican Party Convention was taking place on Friday, ...

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North Korea accusations against US troops ‘unsubstantiated’: UN

  SEOUL / AP The American-led UN command on Saturday dismissed as unsubstantiated accusations from North Korea that US troops at a border village tried to provoke its frontline troops with “disgusting acts.” A North Korean military statement warned US soldiers to stop what it called “hooliganism” at the inter-Korean border village of Panmunjom or they’ll meet a “dog’s death ...

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Cityscape Abu Dhabi records over 15,000 visitors in three days

  Abu Dhabi / Emirates Business Organisers of Cityscape Abu Dhabi have reported that more than 15,000 visitors attended the three-day real estate showcase, which saw numerous property development launches, hundreds of units sold and a record turnout at the Cityscape Abu Dhabi Conference. The exhibition, held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown ...

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10 years of green innovation

  Abu Dhabi / WAM On Thursday, Masdar employees and alumni gathered in Masdar City to mark ten years of achievement in advancing the clean energy industry in Abu Dhabi and around the world. Under the banner “Seizing the Next Decade,” participants were invited to reflect on Masdar’s significant and widespread impact to date and the promise of the next ten ...

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Umm Al Quwain, Sobha ink JV on resort

  Umm Al Quwain / Emirates Business The Government of Umm Al Quwain and Sobha Group, a leading luxury real estate developer, announced the launch of “Firdous Sobha”, an integrated world-class resort and residential island development in Umm Al Quwain. Aimed at setting new heights in destination living, the agreement will see the two parties collaborate to develop an island ...

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Sony swings to $1.4 bn profit

  Tokyo / AFP Sony posted a $1.4 billion annual profit on Thursday, boosted by strong sales of its PlayStation console, but analysts warned that slowing smartphone demand could hit a lucrative business that makes key parts for mobile devices. The company’s full-year profit —only its second since the 2008 global financial crisis preceded years of eye-watering losses —may be ...

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German unemployment extends drop in sign of robust economy

  Bloomberg German joblessness extended its decline, underscoring the strength of the labour market as Europe’s largest economy seeks to absorb a wave of refugees. The number of people out of work fell by a seasonally adjusted 16,000 to 2.706 million in April, data from the Federal Labour Agency in Nuremberg showed on Thursday. That’s the seventh consecutive drop, and ...

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