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Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Sunday that it has entered into a follow-on pipeline infrastructure investment agreement with the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). ADRPBF will invest AED1.1 billion ($300 million), following BlackRock and KKR who in February of this year signed the initial investment agreement to invest AED14.7 ...

Dubai / WAM The UAE is set to host the world’s foremost artificial intelligence summit to empower global dialogue on the future of government, business and society. The inaugural ‘Ai Everything’ will take place at the Dubai World Trade Centre (DWTC), between April 30 and May 1. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, ...

Bloomberg Global oil markets are tightening as Opec supply falls, the International Energy Agency said, while warning it could lower demand forecasts because of economic threats. Crude inventories are set to decline for the rest of the year as Saudi Arabia and its partners curb production, while exports from Venezuela and Iran are squeezed by economic and political crises, the ...

Bloomberg The Trump administration is weighing a plan that could force some of the nation’s biggest oil companies to come clean about their bids to dodge US biofuel mandates. The Environmental Protection Agency said in a notice it was opening a 15-day window for the public to comment on whether it should reveal “basic information” about refineries seeking waivers from ...

Bloomberg Brazilian Economy Minister Paulo Guedes said he’ll clear up any confusion from President Jair Bolsonaro’s decision to halt a planned fuel-price hike by Petroleo Brasileiro SA. When asked about Bolsonaro’s meddling in state-controlled Petrobras’ pricing policy this week, Guedes said he’d get more information when he returns home from Washington, where he’s been attending the spring meetings of IMF. ...

Bloomberg Reliance Communications Ltd denied it received favourable treatment by France in settling a tax dispute at a time when it was negotiating to become Dassault Aviation SA’s partner for a contract to sell fighter jets to India. The Indian company, owned by former billionaire Anil Ambani, issued the denial after Le Monde newspaper reported that four years ago France ...

Bloomberg ArcelorMittal’s plan to buy a bankrupt Indian steel company for $6 billion was halted temporarily by the nation’s top court, further delaying tycoon Lakshmi Mittal’s efforts to enter the world’s second-biggest market. The Supreme Court ruled that Essar Steel India Ltd’s current status has to be maintained, pending a review by a bankruptcy tribunal hearing appeals related to the ...

Bloomberg China Three Gorges Corp is planning to scale back its 9.1 billion-euro ($10.3 billion) takeover offer for EDP-Energias de Portugal SA amid concerns about political hurdles and valuation, people familiar with the matter said. The state-owned firm is evaluating smaller alternative transactions that exclude US assets of EDP, which are the most likely to trigger regulatory opposition, the people ...

Bloomberg The US is open to facing “repercussions” if it doesn’t live up to its commitments in a potential trade deal with China, Treasury Secretary Steven Mnuchin said, in a sign that the two sides are edging closer to an accord. “There are certain commitments that the United States is making in this agreement, and there are certain commitments that ...

Bloomberg India is witnessing a listless growth in electricity demand, possibly signalling more slowdown in Asia’s third-largest economy. Electricity requirement from distribution utilities in February rose 1.3 percent from a year earlier and barely changed from January’s 1.1 percent, the weakest growth in two years, according to the power ministry’s Central Electricity Authority. Data for power generation, a proxy for ...