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AJMAN / WAM Ajman Free Zone (AFZ) inaugurated the “Grand Offices” building on Tuesday morning, on Sheikh Khalifa bin Zayed Street, close to all the city’s necessary facilities to fulfil the business needs of investors. During the inauguration, Mahmoud Khalil Al Hashemi, Director-General of Ajman Free Zone, stressed that new office space location was in response to the growing demand ...

LONDON / Reuters The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the International Energy Agency said on Tuesday. In its monthly report, the IEA kept its global demand growth forecast for 2017 unchanged at ...

Bloomberg Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles. An extension of the cuts at already agreed-upon volumes is needed to reach the goal of paring world inventories to their five-year average, Kuwait’s Oil Minister Issam Almarzooq said ...

Bloomberg Oil rode its longest rising streak in more than a month as a proposal by the world’s two biggest crude producers to extend output curbs into 2018 boosted confidence that other nations will follow suit. Futures climbed for a fifth day in New York, adding to a 2.1 percent jump after the Saudi and Russian energy ministers said they ...

KUALA LUMPUR / Reuters Malaysia’s state energy firm Petronas may try shorter-term LNG contracts and smaller cargo sizes to entice buyers, senior company officials said, at a time when it has major contracts coming up for renewal and the market is awash in supply. The liquefied natural gas (LNG) marketing drive at Petroliam Nasional Berhad, or Petronas, coincides with rising ...

Bloomberg China is setting its sights on US energy as a growing reliance on imports forces it to look beyond traditional suppliers, according to the head of the country’s biggest oil and gas company. China National Petroleum Corp. will import more crude oil and natural gas from US and will consider participating in America’s growing liquefied natural gas export industry, ...

Bloomberg Developers’ hunger for Singapore land is adding to signs that the city’s housing market is making a comeback after three years of price declines. As new home sales surge after an easing of property restrictions in mid-March, developers are becoming more aggressive in bidding at land auctions. On average, they’ve paid a 29 percent premium, the highest level in ...

Bloomberg The Samsung brand is best known for its smartphones and wide-screen TVs. Yet behind the scenes, the conglomerate is also making a name as a contract manufacturer of complex medicines to treat diseases like cancer. On a piece of reclaimed land along the western coast of South Korea, Samsung BioLogics Co. is building a $740 million factory that will ...

Bloomberg After a savage three-day sell-off, Noble Group Ltd. shares climbed on Tuesday even as Moody’s Investors Service joined S&P Global Ratings in highlighting the embattled commodity trader’s finances, saying that estimated liquidity isn’t sufficient to cover debt due by mid-2018. Moody’s said that while the liquidity headroom, including cash and unused committed facilities, was $2.4 billion at end of ...

Bloomberg The Great Asian Export Spurt may be about to end, replaced by a stretch of merely good exports. Demand from both Chinese consumers and manufacturers, a key driver for an unexpected jump in Asian exports so far this year, is likely to moderate as Beijing shifts focus toward economic re-balancing, and corporate China slows a massive inventory buildup, Credit ...