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Abu Dhabi / WAM Saudi Aramco is expected to send its biggest ever delegation to this week’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), as Middle East national oil companies (NOCs) establish new commercial partnerships and diversify their operations to ensure sustained long-term growth. With a production capacity of around 12 million barrels of oil per day and rights ...

NEW YORK / WAM The United Arab Emirates has reiterated its firm determination to continue working closely with the International Atomic Energy Agency (IAEA), in enhancing nuclear safety. At the 72nd Regular Session of the United Nations General Assembly, which was held in New York, on November 10, Saod Rashid Al Mazroui, member of the UAE delegation to the United ...

Dubai / Emirates Business Emirates is gearing up for the 2017 edition of the Dubai Airshow, with the airline showcasing its largest static aircraft display to date. Emirates’ full family of aircraft consisting of the airline’s 100th A380, its latest Boeing 777-300ER with new cabin interiors, the Emirates Executive A319 aircraft, and the Cirrus SR 22 and Embraer Phenom 100 ...

Abu Dhabi / Emirates Business The 2017 edition of the Dubai Airshow will mark Mubadala Investment Company’s 10th anniversary in the aerospace industry, following a decade of strategic investment that has accelerated the growth of a flourishing, leading-edge aerospace hub in Abu Dhabi anchored by homegrown success stories such as Strata Manufacturing (Strata). Over the past 10 years, Mubadala’s aerospace ...

Bloomberg Narendra Modi’s first term as leader of the world’s fastest-growing oil market coincided with the biggest price crash in a generation. Crude’s rebound into a bull market is set to test the Indian Prime Minister as he gears up for re-election in 2019. While low prices helped shrink deficits as Modi cut subsidies after taking the reins of Asia’s ...

Bloomberg Just five years ago it would have been almost unthinkable that one of the world’s biggest mining companies would not dig any coal. It’s now likely to become a reality. Rio Tinto Group, the world’s second-largest miner, has been steadily backtracking from coal to focus on better assets. It’s now looking for buyers for its remaining coal mines in ...

Bloomberg The competitiveness of wind energy is taking a toll on profits, according to Vestas Wind Systems A/S, whose share price took the biggest hit in six years after missing analysts’ estimates. Vestas shares sank as much as 21 percent to 416.60 krone in Copenhagen. More than 5 million shares changed hands so far today, about five times more than ...

Bloomberg There’s long been a Catch-22 about residential solar: despite staggering market demand, it’s been hard to make money doing it. Until now. Sunrun Inc. said that it’s cash-flow positive. And Blackstone Group LP-backed Vivint Solar Inc. expects to hit that mark next year. Rooftop solar installers have chased growth in recent years, investing revenue into marketing and installations. The ...

Bloomberg Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most. Output is expected to slump to 1.84 million barrels a day next year, the lowest compared with official government data since 1989, according to a survey with four analysts compiled by Bloomberg. Rig counts hit a 14-year low in October, ...

Bloomberg Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza broke last year’s all-time high of 120.7 billion yuan ($18.2 billion) by 1:09 pm in Beijing, with about 11 hours still to go before the final bell. The annual frenzy had already hit $8.6 billion in sales in the first hour after starting at midnight, and by 8 am some 82 ...