Sunday, February 26, 2017

Business News


International tribunal clears DP World in Djibouti dispute

Dubai-based ports operator DP World has been cleared of allegations of wrongdoing over its operation of a port in Djibouti. In 2014, the government of the East African nation lodged claims accusing DP World of illegal payments to secure a 50-year concession for the Doraleh Container Terminal. However, the London ...

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China wins big with stakes in $22 billion Abu Dhabi oil deal

Chinese companies are big winners in the competition among foreign bidders for stakes in Abu Dhabi’s largest oil concession, snatching a combined 12 per cent of the venture as the Middle Eastern emirate looks increasingly to Asia, its biggest market, for investment. Abu Dhabi National Oil Co. awarded a 4 ...

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Saudis kick off $50 billion renewable energy plan to cut oil use

Saudi Arabia is kicking off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand. Bidders seeking to qualify to build 700 megawatts of wind and solar power plants should submit documents by ...

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Saudi Arabia breaks records on oil exports and output for year

Saudi Arabia boosted oil exports and production last year to the highest monthly averages on record as the global crude market endured oversupply. Exports climbed to 7.65 million barrels a day on average last year, from 7.39 million barrels a day a year earlier, according to Joint Organisations Data Initiative ...

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Price war for mobile data crushes Philippine telecoms’ profits

Potpot Pinili, a Philippine travel blogger, is paying less to access the Internet on the go – almost half as much as three years ago, thanks to a price war. Pinili and other Philippine customers are benefiting as the nation’s two largest phone companies fight for smartphone subscribers in a ...

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