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Dubai / WAM The first phase of the Parallel Roads Improvement Project in the Godolphin vicinity, which comprises two phases costing AED1 billion, has been opened. The project, which is part of the strategic plan of the Roads and Transport Authority (RTA), for easing the pressure on main roads, is one of the biggest currently being undertaken by the authority. ...

Dubai / Emirates Business In an effort to help employers understand what motivates employees to be more productive, Oman Insurance Company (OIC) and Bupa Global conducted a study to find out how much workplace productivity hinges on happiness – and what businesses can do to help. The findings of the study will be discussed amongst decision makers and employers attending ...

VIENNA / WAM The 2017 OPEC World Oil Outlook (WOO) has been launched at the OPEC Secretariat in Vienna, with expectations that total primary energy demand is set to increase by 35 percent in the period to 2040. First published in 2007, the WOO offers a thorough review and assessment of the medium- and long-term prospects to 2040 for the ...

Bloomberg NRG Energy Inc., the largest US independent power producer, is seeking to borrow about $350 million to build three solar farms in Hawaii it acquired from bankr-upt clean-energy giant SunEdison Inc., according to people familiar with the deal. CIT Group Inc. is leading the deal, according to the people, who asked not to be identified because they’re not authorized ...

Bloomberg Tongwei Co. plans to spend 12 billion yuan ($1.8 billion) to build two solar-cell factories that would make the Chin- ese firm the world’s big- gest manufacturer of products that generate electricity from the sun. The company’s Tongwei Solar Energy (Hefei) unit will set up one plant in the eastern city of Hefei and a second in the southwestern ...

BASRA / Reuters Oil major Royal Dutch Shell has agreed to exit the Majnoon oilfield and hand over its operation to the state-run Basra Oil Co. by the end of June 2018, two oil officials close to the deal said on Wednesday. A letter signed by Iraqi oil minister Jabar Luaibi, dated August 23 and seen by Reuters, gave appr- ...

Bloomberg Chevron Corp. is planning a significant drilling program in the Duvernay shale formation, marking a vote of confidence in Canada’s energy industry in a year when it joined other majors in selling assets there. The initial development in the East Kaybob section of the formation will encompass about 55,000 acres (22,000 hectares), the San Ramon, California-based company said. Chevron ...

BEIJING / Reuters China has raised its 2018 crude oil import quota for “non-state trade,” generally meaning independent refiners, by 55 percent over 2017, raising the clout of the independents in the global market after a setback this year. The move took market participants by surprise after Beijing cut the quotas to independents for 2017. The annual quota setting, announced ...

Bloomberg China Literature Ltd.’s red-hot debut may spur parent Tencent Holdings Ltd. to consider spinning off other parts of a $470 billion empire that spans everything from movies to music streaming. Tencent’s e-books business soared almost 90 percent on its debut, Hong Kong’s largest tech coming-out party since 2007. That marked the best first-day performance this year among IPOs of ...

Bloomberg JD.com Inc. will buy $2 billion of US goods, more than half of which is beef and pork, in a deal that coincides with President Donald Trump’s visit to China. JD.com, China’s second-largest online mall, will buy more than $1.2 billion of beef from the Montana Stock Growers Association and pork from Smithfield Foods Inc over the next three ...