Category Archives: Business & Finance

Huawei Smart City Solution Supports Yanbu Industrial City – A Smart City Emerges in the Oil Kingdom

SHENZHEN, China, Dec. 11, 2017 /PRNewswire/ — In recent years, falling global oil prices have created challenging opportunity for Saudi Arabia to move towards renewable energy and opening new investments projects that will support the economy since oil generates about …

UAE Press: Ties that bind Saudi Arabia and Iraq

ABU DHABI– A UAE newspaper has commented on the newly established joint body between Saudi Arabia and Iraq to coordinate their fight against Daesh, and to rebuild Iraqi territory wrested from the group, which was announced following a meeting on …

UAE Press: Trump has lit wick of anger across globe

ABU DHABI, A Sharjah-based daily has said that it’s not clear whether US President Donald Trump has “lit the wick of war” against North Korea as Pyongyang claimed earlier, but he surely has lit the wick of anger and resentment …

Fujairah oil product stocks rise 9% in week to December 4

Total refined product stocks at the Port of Fujairah stood at 18.18 million barrels in the week to 4th December, up 9.1% from the previous week, according to data from the Fujairah Energy Data Committee, or FEDCom.

After hitting a …

Asia Tankers-VLCC rates set to sink further on weak cargo demand

Charter rates for very large crude carriers (VLCCs), which fell to 12-week lows on Thursday, could sink further on a lack of fresh cargoes and too much tonnage, brokers said.

“The only hope is an influx of new enquiries just …

Re-emerging supply, lower demand push down oil refining margins

Profits on refining fuel oil have been hammered to multi-month lows over the past two weeks on emerging signs of growing supply and faltering demand, retreating from stubbornly elevated levels at the start of the quarter.

By the end of …