Cyprus signs $9 billion gas deal with energy majors

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(Nicosia) - Cyprus announced it had signed its first natural gas exploitation deal worth $9.3 billion with a consortium comprised of industry giant Shell, US-based Noble and Israel´s Delek. "Noble Energy, Shell and Delek now have in their…

Etihad Airways, Tourism Malaysia partner to promote travel to Malaysia

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(London) - Etihad Airways, the national airline of the United Arab Emirates, announced a partnership with Tourism Malaysia to attract visitors from Europe and the Middle East to Malaysia, via the airline’s Abu Dhabi hub. The agreement was…

Saudi Aramco heads for possible record-setting market debut

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(Dhahran) - Saudi Arabia announced the stock market debut of energy giant Aramco, in what could be the world´s biggest IPO, underpinning Crown Prince Mohammed bin Salman´s ambitions to overhaul the kingdom´s oil-reliant economy. After…

UK airline giant IAG agrees to buy Spain's Air Europa

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British Airways owner IAG agreed to buy Spain's Air Europa for 1.0 billion euros to expand routes to Latin America and the Caribbean, boosting Madrid as a key hub. The London-listed company said in a statement that it has signed a transaction…

Saudi Aramco announces intention to offer IPOs on domestic stock market

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(Riyadh) - Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia, announced its intention to proceed with an initial public offering (IPO) on Riyadh's Tadawul Stock…

Fiat Chrysler, Peugeot in merger talks to create $50 bn firm

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(Washington) - US-Italian auto giant Fiat Chrysler and France´s Peugeot are in merger talks that would yield an entity valued at about $50 billion, a person with knowledge of the matter told AFP. Carlos Tavares, the chief executive of Peugeot´s…

Hyundai to test self-driving car service in California

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(San Francisco) - Hyundai announced that it will begin testing a self-driving ride service in Southern California next month. The South Korean automaker said that it collaborated with technology group Pony.ai and rideshare firm Via for an…

Pound firms after EU grants Brexit extension

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The pound firmed versus the dollar after the European Union granted an extension to Brexit until the end of January while but London stocks were broadly flat. Around 1330 GMT, sterling had edged higher at $1.2844 compared with late deals…

SEWA, Dutch delegation explore cooperation in hydrogen energy

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(Sharjah) - Dr. Eng. Rashid Al Leem, Chairman of the Sharjah Electricity and Water Authority, SEWA, affirmed that SEWA is implementing a comprehensive plan to reduce carbon emissions in electricity production and water desalination, as part…

Dubai CP tours WETEX 2019

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(Dubai) - H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has said that the emirate is making rapid strides to strengthen its green economy and enhance sustainable development…

World Green Economy Summit 2019 concludes

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(Dubai) - The 6th World Green Economy Summit,WGES, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, concluded today. The summit, held under the theme ‘‘Innovative…

Etihad Airways, Saudia announce expansion of commercial partnership

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(Abu Dhabi) - Etihad Airways, the UAE's national airline, and Saudia, the national flag carrier of the Kingdom of Saudi Arabia, have marked the first anniversary of their commercial partnership by announcing 12 new codeshare routes to key destinations…

UAE to launch new low-cost airline

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Abu Dhabi´s giant Etihad Airways and Sharjah´s low-cost carrier Air Arabia announced an agreement to launch a new low-cost airline based in the United Arab Emirates capital. Etihad Airways posted a loss in 2018 for the third year running,…

Russia, Saudi Arabia sign key oil deal

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(Riyadh) - Energy giants Saudi Arabia and Russia sealed a key oil deal to boost cooperation among the two countries, as visiting President Vladimir Putin sought to defuse political tensions in the the region. The energy superpowers inked …