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DUBAI / Emirates Business Emirates on Monday confirmed that its first two Boeing 777-300ER aircraft fitted with its soon-to-launch First Class product will operate from Dubai to the airline’s Belgian and Swiss destinations starting from December 1. Emirates’ new First Class cabin will feature six private suites laid out in a 1-1-1 layout, compared to the eight private suites in ...

Bloomberg Saudi energy services com- pany Arkad, which is building a nationwide pipeline netw- ork for oil giant Saudi Aramco, will expand outside the kingdom in a venture with ABB Ltd. that opens the doors to business in North Africa and the Gulf region. Arkad signed a deal to acquire a majority stake in a new joint venture with ABB’s ...

Bloomberg Wealthy nations are falling short on promises to help the develo- ping world reduce greenhouse gases by investing in clean energy, jeopardizing the global fight against climate change. Clean energy investments in China, sub-Saharan African and other emerging markets fell 27 percent in 2016, to $111.4 billion, Bloomberg New Energy Finance said in a study Monday. Less than 10 ...

HASSI RMEL / Reuters Algeria’s state energy firm Sonatrach on Monday started $2 billion of new investments into the Hassi Rmel gas field to keep production stable at the country’s biggest gas field. “The objective is to maintain the 190 million cubic metre output for the next 10 years,” Chief Executive Abdelmoumene Ould Kaddour told reporters at the site. Hassi ...

KHOBAR / Reuters State-controlled utility Saudi Electricity Co (SEC) reported a 6.8 percent increase in third-quarter net profit on Monday due to falling costs as the company improves efficiency. SEC made a profit of 5.26 billion riyals ($1.40 billion) in the three months to Sept 30, according to a bourse statement, up from 4.92 billion riyals a year earlier. The ...

Bloomberg The acquisition spree that returned much of Alberta’s oil sands to Canadian hands is so far working out as the buyers projected, with results at Canadian Natural Resources Ltd. and Cenovus Energy Inc. beating expectations on the back of higher output and lower costs. Canadian Natural posted third-quarter profit that topped analysts’ estimates as its buyouts of Royal Dutch ...

Bloomberg NetEase Inc., China’s second-largest video game publisher, is deepening a push into e-commerce with plans to increase spending on products from the US, Europe and Japan to sell to local consumers. The company’s Kaola e-commerce business will buy about $11 billion of inventory over the next three years from the US, Europe and Japan to woo customers with everything ...

Bloomberg Lenders to embattled Reliance Communications Ltd. have bought themselves some time in taking provisions on $7 billion of debt, but still face an uphill struggle in turning around the phone company. Last week, the carrier currently controlled by billionaire Anil Ambani proposed banks convert about 15 percent of the loans owed to them into a 51 percent stake, a ...

Bloomberg China Evergrande Group, once the country’s most-indebted developer, raised $9 billion from selling a stake in a property unit to further reduce its leverage. The sale will cut Evergrande’s stake in Hengda Real Estate to 63.5 percent from 73.9 percent, the company said in a filing to Hong Kong’s stock exchange on Monday. This is the third time Evergrande ...

Bloomberg Altice USA struck a deal with Sprint Corp. that will allow the cable operator to sell wireless service using Sprint’s network. As part of the agreement, Sprint will use Altice’s broadband infrastructure to strengthen its nationwide wireless network, according to a statement from both companies that didn’t disclose financial terms. Talks between Sprint’s majority owner, SoftBank Group Corp, to ...