Daily brief: OPEC chief confident about deal, blackout hits Libya
OPEC’s Secretary-General expressed confidence in oil producers’ commitment to a recently agreed deal to cut oil production in order to drive market prices up. Here are the top seven business stories you need to know today.
Dubai Residency says about 52 million travellers crossed through Dubai ports during 2016
The number of passengers through the Dubai air, land and sea ports over the past year had reached about 52 million passengers, according to the statistical report issued by the General Directorate of Residency and Foreigners Affairs-Dubai (GDRFA).
Libya’s oil production drops to 655,000 bpd, weather and storage blamed
Libya’s oil production has dropped to 655,000 barrels a day due to difficulties including a lack of storage capacity and poor weather, the head of the National Oil Corporation said on Saturday.
Saudi Arabia’s religious authority says cinemas, song concerts harmful
Saudi Arabia’s top religious authority has called cinemas and singing concerts harmful and corrupting, in a move that could complicate government efforts to introduce cultural reforms to the conservative kingdom.
Blackout hits western and southern Libya
Western Libya was plunged into darkness late on Saturday as a blackout already affecting the south spread to the capital, Tripoli, and other major cities, the national power company said.
OPEC chief confident in commitment, enthusiasm for output cut deal
OPEC’s Secretary-General has confidence in the commitment of oil producers who agreed to an output cut deal last month to ease a global glut that has depressed crude prices and hurt exporting countries’ revenues.
Dubai’s economic development department issues record licences in 2016
The Department of Economic Development (DED) in Dubai issued a record number of 26,707 new business licences in 2016, improving ease of doing business and increasing competitiveness in the emirate, UAE news agency WAM reported.
Abu Dhabi fund, IRENA to develop new projects in four countries
Four renewable energy projects in developing countries in the Pacific and Africa have been identified by Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA) to receive AED 163.4 million ($44.5m) in funding.