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  Abu Dhabi / Emirates Business The first race of the 2017 Red Bull Air Race calendar in February will be a celebration of milestones for the official World Championship: the tenth season of competition, the tenth consecutive opener in Abu Dhabi and the diamond 75th race for the coveted title. As a first-time world champion from Germany begins the ...

  Bloomberg Oil prices boosted by global output reductions will be capped because of new supply before long, according to Goldman Sachs Group Inc. The cuts by OPEC members and nations outside the group, as well as strong demand growth, will probably help curb inventories by next summer, analysts including Damien Courvalin said. While the bank raised its oil-price forecasts ...

  Bloomberg For OPEC, there are few enemies more fearsome than the tiny Oklahoma town of Cushing. With oil inventories at Cushing creeping near an all-time high, US benchmark futures prices are struggling to advance despite the promised production cuts agreed to by OPEC, Russia and other producers. And the storage tanks are likely to stay full as refiners park ...

  Bloomberg Libyan oil-facility guards prevented two of the country’s biggest fields from resuming production, days after the National Oil Corp. reached an agreement to restart operations there to boost output in the politically divided OPEC state. The El Feel, or Elephant, and Sharara fields still aren’t operational after they were shut more than a year and a half ago, ...

  Bloomberg Anglo American Plc’s De Beers will flood a massive diamond mine located beneath a subarctic lake in Canada’s Northwest Territories after failing to find a buyer. De Beers will begin inundating tunnels at its Snap Lake mine in early January, it said in a statement distributed recently. In April, it put the site on care and maintenance, saying ...

  Bloomberg Vale SA is betting on the world’s biggest iron-ore project as a way to become more competitive with its largest rivals. For Brazil, the $14 billion S11D mine is a rare bright spot amid the country’s longest recession on record. “This is a confident affirmation that yes, Brazil will return to growth,” Minister of Mines & Energy Fernando ...

  Bloomberg Citizens who are campaigning against Rupert Murdoch’s plan to gain full control of Europe’s dominant pay-TV company are seeking to hamper the 11.7 billion-pound ($14.6 billion) deal through the UK Parliament. Hacked Off, a media accountability advocacy group formed during the phone-hacking scandal that thwarted Murdoch’s first takeover attempt for Sky Plc in 2011, is preparing to propose ...

  Bloomberg Denmark’s government, which owns stakes in 27 companies including Dong Energy A/S and SAS AB, is prepared to sell off everything that doesn’t affect its ability to protect critical infrastructure. Though there are currently no concrete plans to move ahead with a specific divestment, the administration is “clearly open” to selling, Finance Minister Kristian Jensen said in an ...

  Bloomberg The UK’s renewable and low-carbon energy sector shrank by 8.7 percent last year, partly because of cuts to subsidies. The sector, from wind farms to electric vehicles, turned over $52.5bn in 2015, provisional figures by Office for National Statistics showed. That’s lower than the 46.2 billion pound recorded in 2014. Acquisitions of capital assets fell by 39 percent ...

  Aleppo / AFP Buses began entering the last rebel-held parts of Aleppo on Sunday to resume the evacuation of thousands of increasingly desperate Syrian civilians and rebels trapped in the besieged enclave. As international alarm grew over the plight of the residents including women, children, the sick and wounded, the UN Security Council was to vote on whether to send ...