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  Bloomberg US oil advanced to trade above $53 a barrel as Iraq said it’s close to implementing its share of pledged output curbs agreed with OPEC to trim bloated global inventories. Futures rose as much as 1 percent in New York after dropping 0.9 percent on Monday. Iraq, the second-biggest OPEC producer, has reduced supply by 180,000 barrels a ...

  Bloomberg Cnooc Ltd. plans to raise capital spending for the first time since crude began its crash in 2014 as China’s biggest offshore oil and gas producer prepares for life after the slump and a second year of falling output. The Beijing-based explorer will increase expenditure, including in the Gulf of Mexico, to 60 billion to 70 billion yuan ...

  Bloomberg The robot on an oil drillship in the Gulf of Mexico made it easier for Mark Rodgers to do his job stringing together heavy, dirty pipes. It could also be a reason he’s not working there today. The Iron Roughneck, made by National Oilwell Varco Inc., automates the repetitive and dangerous task of connecting hundreds of segments of ...

  Bloomberg Foxconn Technology Group is considering building a US display-making facility for upwards of $7 billion, a major investment for Apple Inc.’s main manufacturer that may create tens of thousands of American jobs during President Donald Trump’s first year in office. The company is considering a joint investment with Sharp Corp., the Japanese display supplier it bought last year, ...

  Bloomberg LG Display Co. has scored a deal to supply television displays to rival Samsung Electronics Co. from as soon as this year, people with direct knowledge of the matter said. LG Display, a major supplier of panels to Apple Inc., will replace a venture between Sharp Corp. and Foxconn Technology Group as a supplier to the world’s biggest ...

  Bloomberg Yahoo’s financial performance improved slightly during the fourth quarter while the company dealt with the fallout from massive security breaches that have jeopar- dized the $4.8 billion sale of its internet operations to Verizon Communications. The fourth-quarter report provided the latest snapshot of a shrinking company that has been steadily losing ground in the digital advertising market that ...

  Bloomberg President Donald Trump abruptly ended the decades-old US tilt towards free trade by signing an executive order to withdraw from an Asia-Pacific accord that was never ratified and promising to renegotiate the North American Free Trade Agreement. “Great thing for the American worker, what we just did,” Trump said on Monday after signing an order withdrawing the US ...

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) deposited AED1.47 billion into the Central Bank of Sudan (CBOS) to secure increased liquidity and stimulate economic growth in Sudan. Mohammed Saif Al Suwaidi, Director-General of ADFD, signed an agreement to that effect with Hazim Abdegadir Ahmed Babiker, Governor and Chairman of the Board of the CBOS. Reaffirming the ...

  Abu Dhabi / WAM Navdeep Suri, Indian Ambassador to the UAE, has praised the exceptional ties between the UAE and India, which have witnessed unprecedented development in investment and trade relations, among others. India will welcome His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces on 26 ...

  DUBAI / REUTERS Dubai ports operator DP World said it was partnering with Canadian pension fund manager Caisse de dépôt et placement du Québec to create an investment vehicle worth $3.7bn that would invest in ports and terminals worldwide. DP World will hold a 55% share in vehicle while Caisse de dépôt, a long-term institutional investor that manages funds ...