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Dubai / Emirates Business Dubai Properties, a leading Dubai-based real estate master developer and asset manager, announced the launch of sales of Casa Viva, marking phase 3 of its family-friendly Serena community at Dubailand from Monday at the newly opened Dubai Properties Sales Gallery on the 9th floor in Vision Tower, Business Bay. The launch of the well-appointed and affordable ...

Dubai/ WAM Dubai Electricity and Water Authority (DEWA), awarded the AED 58 million consultancy contract for the pumped-storage hydroelectric power station at Hatta Dam to France’s EDF. The project is the first of its kind in the Arabian Gulf, with a total capacity of 250MW, and is expected to last between 60 and 80 years. The consultancy contract covers design, ...

Dubai / Emirates Business Eagle Hills has announced plans to build its second 5-star hotel in Fujairah in a bid to attract tourists and investment into the Northern Emirates. Located centrally in ‘Eagle Hills Fujairah Beach,’ the master-planned development by Eagle Hills in the city, the new ‘Palace Fujairah Beach,’ is a premium luxury hotel to be managed by Address ...

Dubai / WAM UAE markets are free from salmonella contaminated chocolate products, and not affected by the latest recall by chocolate maker Mars of certain batches of Galaxy, Maltesers Teasers and bags of Minstrels, the Ministry of Climate Change and Environment, MOCCAE, on Sunday said in a statement. Majd Mohamed Al Herbawi, Director of Food Safety Department at MOCCAE, said, “In ...

Bloomberg A boom in natural gas exports from the US Gulf Coast is raising the prospect of traffic jams at one of America’s busiest ports. Weather delays from fog and storms are nothing new at the Houston Ship Channel, which links the prolific oil and gas fields of Texas and Louisiana to the rest of the world. But as more ...

Bloomberg A deal among oil-producing countries to curb production and balance an oversupplied market will achieve its objective in the first quarter of next year, Russian Energy Minister Alexander Novak said, after prices slipped on news of a build-up in US inventories. The Organization of Petroleum Exporting Countries and other crude producers including Russia agreed on May 25 to extend ...

LONDON / Reuters OPEC’s battle against an oil glut is under threat as unsold crude from members Nigeria and Libya, which are exempt from a global production-cutting deal, is swamping the Atlantic Basin. Nigeria has more than 60 million barrels of unsold crude, traders of its oil said, surpassing the level reached when global oversupply peaked two years ago. More ...

Bloomberg Iraq, the world’s third-biggest crude exporter, plans to triple refining capacity by 2021 to shake off its reliance on refined-product imports. Processing capacity will increase to 1.5 million barrels a day from just over 500,000 now, not including Iraq’s semi-autonomous Kurdish region, Deputy Oil Minister Fayyad Al-Nima said in an interview in Baghdad. The country spends more than $2 ...

Bloomberg The oil market has all but abandoned the hope of a re-balancing any time soon, with the re-emergence of a pricing structure that signals investors expect a glut to endure into next year. The return of a deep contango — when oil prices for immediate delivery are lower than forward contracts — comes days after several Wall Street banks ...

Bloomberg Thai regulators plan to impose financial penalties on Facebook Inc. and other compa- nies with video-sharing platforms if they fail to swiftly remove what they deem to be illegal content. The new framework would give authorities the power to immediately demand the removal of offensive material without waiting for a court order, Colonel Natee Sukonrat, vice chairman of the ...