Daily brief: Oil prices edge up, Turkish Airlines cargo crashes

January 16, 2017 10:00 am

Closeup stack of newspapers. (Image: Alamy)

Oil prices rose on Monday, supported by a weaker dollar and expectations that OPEC suppliers and other producers will cut output as part of a recently struck deal. Here are the top seven business stories you need to know today.


Expo 2020 Dubai rolls out first public ‘Expo Live’ programme

Expo 2020 Dubai delivered Sunday the first public roll-out of its US$100 million Expo Live programme to help fund, accelerate and promote creative projects that will improve lives while preserving the planet, state news agency, WAM, reported.


(Revealed: “#1 hospitality partner for Expo 2020”)


Oil prices rise over weaker dollar, expected production cuts

Oil prices inched up on Monday, supported by a weaker dollar and expectations that OPEC and other producers will cut output as part of a deal to curb global oversupply.


Saudi Arabia Fertilizer Company reports 25% drop in profits

Saudi Arabia Fertilizer Co (SAFCO), a unit of Saudi Basic Industries Corp (SABIC), reported on Sunday a 24.85 per cent drop in its fourth-quarter net profits, to 284.5 million Saudi riyals ($75.85 million), blaming lower product prices and higher costs.


Samsung Electronics faults batteries as main cause of Note fires, sources say

A Samsung Electronics Co Ltd investigation into what caused some Galaxy Note 7 smartphones to catch fire has concluded that the battery was the main reason, a person familiar with the matter told Reuters on Monday, Reuters reported.


(What Samsung lost after Galaxy Note 7 debacle)


Abu Dhabi Ports and Khalidia International Shipping sign AED80m Musataha Agreement

Abu Dhabi Ports has signed a Musataha Agreement with Khalidia International Shipping, a subsidiary of Emirates Business Group, EBG, to set up a third-party logistics (3PL) warehouse with a total investment of AED80 million in KIZAD, the Khalifa Industrial Zone’s trade and logistics cluster.


Pope Francis praises UAE s policy of tolerance

Pope Francis praised the policy of tolerance pursued by the wise leadership of the UAE in promoting the values of tolerance, compassion and cooperation, in a statement issued during the official visit of Dr. Hessa Abdullah Al Otaiba, UAE Ambassador to Spain, at the invitation of His Holiness Pope Francis for the annual meeting of the diplomatic corps accredited by the Holy See.


Turkish Airlines cargo crash kills at least 20

A Turkish Airlines cargo jet crashed near Kyrgyzstan’s Manas airport on Monday, killing at least 20 people, most of them residents of village struck by the Boeing 747 as it tried to land in dense fog, Kyrgyz officials said, according to Reuters.


(With Reuters)



AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.