It’s a buyer’s market for LNG
More liquefied natural gas (LNG) coming into the market will keep prices depressed despite an increase in demand from Asia, analysts said.
LNG producers are ramping up from Qatar to Australia and the United States, while Egypt is expected to emerge as a new export player.
Australia has increased its market share in the first half of the year to 20 per cent from 12 per cent last year, according to BMI Research, and its exports are forecast to grow by 23 per cent over the financial year to the end of June, according to Australian energy advisory firm, EnergyQuest.
Published: 5 August 2017
Adnoc active on the debt front as it pushes ahead with transformation strategy
The Abu Dhabi National Oil Company is studying a number of fund raising options at both group and asset level that will help unlock value and optimise the group’s balance sheet as it pushes ahead with its new approach to drive growth.
Adnoc is in discussions with banks for a club loan of approximately US$5 billion that will be used for ongoing corporate activities. It is also looking into financing options for select midstream infrastructure assets including potentially tapping debt capital markets via a bond issuance. Plans are at an early stage so the size and scope of any potential bond issuance has not been decided. The company said it has no intention to issue bonds at the holding or main operating company levels such as Adco, Adma-Opco and Zadco.
Published: 02 August 2017
Total Ready to Make Acquisitions as Financial Strength Grows
Total SA said it’s ready and able to make acquisitions and pursue growth, shrugging off uncertainties about oil prices as its financial position strengthens.
Europe’s second-largest oil and gas company has the firepower to buy up fields on the cheap and press ahead with new developments, taking advantage of lower levels of debt, rising profit and surging cash flow, according to a statement Thursday.
“Total has a stronger balance sheet,” Chief Executive Officer Patrick Pouyanne said as the company reported second-quarter earnings that beat expectations. “The group has the flexibility to take advantage of the low-cost environment by being able to launch profitable projects and acquire resources under attractive conditions.”
Published: 27 July 2017
Politics & Economy
Indian rupee to get stronger, NRIs should remit now
If you’re a non-resident Indian (NRI) and looking to remit a handsome amount back home or planning to buy a property or invest in any venture, the time is now.
Going by views of analysts and industry executives, the Indian currency is likely to strengthen further against the US dollar — thereby against the UAE dirham, because the Emirati currency is pegged to the greenback — in the wake of Reserve Bank of India’s (RBI) decision to cut interest rates last week, and may strengthen as much as 1.1 per cent.
Published: 7 August 2017
Looking for a job in UAE? Here’s the salary guide
Starting salaries for professional roles in finance and accounting, financial services, technology and administration in the UAE will grow by 2.5 per cent over the next year, according to the Robert Half 2017 Salary Guide.
The guide is the most comprehensive and authoritative resource on starting salaries and recruitment trends in finance and accounting, financial services, IT, legal, and HR and administration. The Salary Guide enables employers and employees to benchmark salaries for over 185 different permanent professional roles in the UAE.
According to the survey, competition for the best candidates is heating up in the UAE with 68 per cent of employers planning to attract new employees in 2017 and on an average, pay scales could increase by up to 5.8 per cent in comparison to 2016.
Published: 6 August 2017
Community, Environment & Society
Year 2018 to celebrate Zayed’s vision
Abu Dhabi: President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has declared 2018 the “Year of Zayed” in the United Arab Emirates.
The year 2018 marks 100 years since the birth of the late founding father Shaikh Zayed Bin Sultan Al Nahyan, and yesterday’s announcement is coinciding with the anniversary of Shaikh Zayed’s Accession Day, the day he assumed leadership in Abu Dhabi on August 6, 1966, marking the start of a new epoch in the history of the country.
Published: 6 August 2017
Apply for UAE visa from comfort of your own home
You can now, from the comfort of your home, complete applications related to nationality, and residence, without having to visit typing offices or customer service centres.The Ministry of the Interior on Tuesday launched “E-channels”, a new system of smart services that lets nationals and residents apply for entry permits and residency visas within 10 minutes.
Published: 01st August 2017
Thousands of road-safety breaches by lorry drivers leads to police campaign
More than 30,000 fines have been issued to lorry drivers in Dubai in the first six months of this year alone for not abiding by road safety rules.
Police on Tuesday launched a one-month lorry driver safety campaign in a bid to reduce the number serious accidents and deaths involving heavy-goods vehicles. So far this year there have been 14 serious accidents and 15 deaths involving HGVs on Dubai roads.
Published: 01 August 2017
Don’t come on visit visas for job hunting, Indians told
Indian Consulate asks expatriates to verify job offers and visas before arriving in the UAE. Indian jobseekers should not come to the UAE on visit visas and must authenticate their employment offers and entry permit visas before heading to the UAE, the Indian Consulate in Dubai has said. The advisory from the mission follows high numbers of calls and visits by Indian workers who have been duped by agents or employers on a regular basis. “We have got several cases of people falling into trouble when they come for employment or for looking for employment on visit visas. There are also cases of women being forced to work as maids etc by dubious agents who get them to the UAE on visit visas as well as sending them to Oman and other countries.”
Published: 02 August 2017
iPhones, Facebook and internet are sucking our time and making us miserable
In a past life, we served on our local council. Despite the impressive size of our gross budget, our free choice in spending was remarkably limited.
By the time our road grants were spent on roads, child care funding on child care, the indoor and outdoor staff paid and the rubbish collected, funds for truly discretionary spending were tight. According to Associate Professor Adam Alter, a psychologist at New York University, the days of our lives are just like that.
Published: 4 August 2017
Gatlin spoils Bolt’s farewell in 100m with remarkable gold
Usain Bolt was no longer stunning. He was just stunned.
At the end of a career in which he has dominated his sport for a decade, Bolt was beaten in his final 100-meter race by an American almost five years his senior – Justin Gatlin.
Calling it quits at the age of 30 and looking for a golden farewell in his last individual race at the world championships, Bolt lost to a man who produced a comeback not only on Saturday but also through a doping-tainted career.
Published: 6 August 2017
To news reports published in prominent newspapers Khaleej Times and Gulf News have created lot of confusion and fear among NRIs based in UAE.
On 24th July 2017, Khaleej Times came out with the news below:
NRIs urged to apply for Aadhaar Card
Filed on July 24, 2017 | Last updated on July 24, 2017 at 08.29 am
Non-resident Indians (NRIs) are advised to apply for the Aaadhar card to avail of state benefits and for hassle-free transactions in future.
According to a manager of the NRI section of State Bank of India (SBI), the government has not exempted Indian expats from the Aadhaar card.
Jose GL, NRI section manager at SBI’s Varkala branch, Kerala, told Khaleej Times:
“My advice to NRIs is to apply for Aadhar Card, as there is a chance for the government to make it mandatory for expats as well. Without an announcement, the government has now asked everyone to link their Permanent Account Number (Pan) with Aadhaar, for income tax returns. There is no doubt that Aadhaar will become compulsory and beneficial for several transactions in the coming years.”
Today, 26th July 2017 Gulf News have come out with a totally contradictory version of it:
‘NRIs not eligible for Aadhaar ID card’
Published: 14:32 July 26, 2017
If banks, or any Indian institutions, demand that Non-Resident Indians (NRIs) produce Aadhaar for official transactions, simply inform them that NRIs are not eligible for the identity card issued to residents of India, a top Indian official told Gulf News on Tuesday.
“Just tell them that we [NRIs] are not eligible for Aadhaar, therefore, don’t force us to produce it,” Dr Ajay Bhushan Pandey, CEO, Unique Identification Authority of India (UIDAI), said in a telephone interview from New Delhi.
Whether to apply for an Aadhaar, the thought has now become aa dar (upcoming fear) for expatriates here.
Who to follow and what to do is very important and appreciate responsible newspapers should do necessary homework before publishing such important formation of high importance.
Appreciate to have a clarification from the Indian Embassy authorities on which of these reports are to be followed by all.
Ramesh Menon, Abu Dhabi
26th July 2017
The initiative by the Dubai Health Authority (DHA) to sponsor emirati medical students with Dh6,500 monthly grant, if they do a major in medicine and Dh5,000 per month if they want to continue studies in the field of paramedics and nursing is great!. 130 students are set to benefit from “Sponsoring Emiratis in the Medical Sector Programme.”.
Recent study news that came out in the regional press stated that GCC students place less importance to STEM subjects and this scholarship will definitely attract more students to take up medical education.
Medical education, unlike other, takes a longer period for students to complete and settle in and be financially self-sufficient and thus create less interest among students. This is obvious from DHA’s Annual Health Statistical Report for 2015, showing a total of 1,612 Emiratis currently working in the medical sector in Dubai. Category-wise statistics says 276 physicians, 106 dentists, 50 nurses, 29 pharmacists are working in Dubai hospitals and primary health centres.
Mind Speaks on the news in Khaleej Times: Dh6,500 monthly grant, job for Emirati medical students