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Dubai / Emirates Business The 27th edition of the Dubai International Boat Show (DIBS), came to an end, with many exhibitors reporting strong sales – including debut deals for the world’s first “flying” yacht, born and developed right here in the UAE. ENATA’s Foiler – which mimics the sensation of flying through its unique design – was one of the ...

Abu Dhabi / WAM The Abu Dhabi Islamic Bank (ADIB), a leading financial institution, was named “Best Islamic Bank in the Middle East” and “Best Islamic Bank in the UAE” at the EMEA Finance Middle East Banking Awards 2019. The recognition highlights ADIB’s record of delivering innovative Sharia’a compliant products to its customers, while consistently providing high-quality personalised services, both ...

Bloomberg What started as a strategic oil storage for South Africa during apartheid is now gearing up to attract the biggest traders as it turns into a global center for crude. A venture building a dozen new interconnected tanks on Africa’s southern tip will add to neighbouring government-owned capacity, making it one of the world’s biggest hubs. They are on ...

Bloomberg Venezuela is running out of space to store its sanction-stained crude that few dare to buy, forcing it to reduce output at a time when the world is thirsty for heavy, sulfurous oil. Tankers holding 8.36 million barrels of Venezuelan crude worth upwards of a half-billion dollars are floating off the country’s coast as the nation struggles to find ...

Bloomberg In a major blow to the Canadian oil industry, Enbridge Inc. now expects the replacement and expansion of its Line 3 crude oil pipeline to be in service about a year later than expected. The project, previously slated to start shipping crude in the fourth quarter of this year, is now expected to enter service in the second half ...

Bloomberg The US and South Korea agreed to end their biggest annual joint military drills in a bid to ease tensions with North Korea, a move that comes just days after Donald Trump and Kim Jong-un failed to reach an agreement on denuclearization at a summit in Vietnam. US Acting Secretary of Defense Patrick Shanahan and South Korea’s Defense Minister ...

Bloomberg Russia will “do everything possible” to avoid outside military intervention in Venezuela, Parliament Speaker Valentina Matvienko told the Latin American nation’s vice president. “We are very concerned that the US are ready for any kind of provocation to start bloodshed and justify military intervention in Venezuela,” Matvienko told Vice President Delcy Rodriguez. “We’ll do everything possible to avoid this. ...

Bloomberg When Special Counsel Robert Mueller closes up shop and submits his long-awaited final report — possibly within days — it will be only the start of an explosive chain of events. There will be a struggle in Congress, on cable TV and social media and probably in the courts over how much must be disclosed from what will begin ...

Bloomberg Thousands of protesters marched through the capitals of Serbia and Montenegro as demonstrators kept up pressure on governments to curb corruption and allow more freedom in a region that hopes to integrate with the European Union. In Montenegro’s capital Podgorica, several thousand people took part in a fourth weekend rally in a row over allegations of corrupt practices of ...

Bloomberg The US will keep pressing its European allies to take back citizens caught fighting for IS in Syria if they’re released, National Security Adviser John Bolton said. The fate of the estimated 800 to 1,000 captives taken by Kurdish militias in northeastern Syria has been a sore point since President Donald Trump tweeted in February that the UK, France, ...