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Abu Dhabi / Emirates Business The UAE capital is set to welcome thousands of oil and gas professionals, industry leaders, and decision makers as the world’s most influential oil and gas event, the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), begins its 20th edition on Monday. Held under the theme ‘Forging Ties, Driving Growth’, ADIPEC’s 20th edition will be ...

ABU DHABI / Emirates Business Etihad Airways on Sunday welcomed a Royal delegation to its aircraft display on the opening day of the Dubai Airshow 2017. The UAE’s national airline is displaying three aircraft at this year’s edition of the bi-annual event – an Airbus A380, an Airbus A320 “flying testbed” and an Embraer Phenom 100E from the Etihad Flight College ...

Dubai / Emirates Business Cisco launched a state-of-the-art Innovation and Experience Center (IXC) at its Middle East regional hub in Dubai. The center will serve as a hub for open innovation and showcase what is possible with digital transformation in sectors that range from retail and hospitality to healthcare, education, and financial services. The IXC is a first of its ...

ABU DHABI / Emirates Business The Ministry of Climate Change and Environment (MOCCAE), signed MoUs with Dubai Police, the Telecommunications Regulatory Authority (TRA), and Dubai Municipality (DM), on stepping up coordination in combating illegal trade in endangered species in the UAE. Dr. Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, and Major-General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai ...

Bloomberg Siemens AG Chief Executive Officer Joe Kaeser said he’s plann- ing sweeping cuts at the German engineering company’s power-and-gas business, setting the stage for a turnaround plan aimed at tackling weak orders and a sharp drop in profit. The unit, which is suffering from a steady decline in demand for large turbines used in power plants, will be “reshaped ...

KHOBAR / Reuters Preparations to float shares of Saudi Aramco next year are proceeding, but no decision has been taken yet on the venue for the international listing, the chief executive of the state oil company told Al Arabiya Television channel. “Preparations are proceeding to the fullest extent for listing in 2018,” Amin Nasser told the channel in an interview ...

CAIRO / Reuters Egypt has reached a staff-level agreement with the International Monetary Fund for an instalment of about $2 billion more from a three-year, $12 billion loan programme, the IMF said. The payment, still subject to IMF executive board approval, will bring total disbursements under the program to about $6 billion. Egypt is pushing through ambitious economic reforms under ...

Bloomberg Boosted by higher global prices, US coal miners are showing they can make money again. Now, for the hard part — winning back investors. Five of America’s largest coal producers — Alliance Resource Partners LP, Arch Coal Inc., Cloud Peak Energy Inc., Peabody Energy Corp. and Warrior Met Coal Inc. — reported a combined $801 million in third-quarter earnings ...

Bloomberg As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches. The who’s who of the oil world — led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value — are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is ...

Bloomberg Northern Drilling Ltd., a company set up by billionaire John Fredriksen to buy offshore drilling rigs on the cheap, raised 2.03 billion kroner ($250 million) in a private placement to expand its fleet. The company said it sold 31.8 million new shares at 64 kroner apiece, equal to the stock’s closing price on the Oslo Axess market a day ...