US fuel stock rises unexpectedly

US saw an unexpected rise in fuel stock, despite the oil prices witnessing a sharp decline on November 29 and the cut in trading crude oil. On November 28, a report from the American Petroleum Institute claimed that US crude inventories rose from 1.8 million barrels to 457.3 million barrels within a week in November.

UAE and Russia have confirmed that the output scenario will remain constant throughout 2018. Various economists had different opinion regarding this policy of the oil-rich nation.

According to some experts, an extension should be given which is much needed before shutting down output, mainly to keep the demand-supply balance proportionate. On the contrary, there are a handful of experts who completely disagreed to this. Their claim being, this policy will do no good to the economy.

Nevertheless, the overall opinion as seen by majority of the experts, is that the decision is great indeed for the oil market as well as for a healthy global economy, as reported by Reuters.

Sources:

Moneycontrol, Hindu Business Line

Dubai’s Torch Tower catches fire again

In the early hours of August 4, a massive fire broke out in the 84-story Torch tower of Dubai, United Arab Emirates. No casualties were reported, and the Dubai Civil Defense brought the blaze under control by 3.30 a.m.  According to Reuters, a resident said “It was very bad. The fire was very strong at that time, about 1 am. Then it started calming down over the next two hours.”

The actual cause of the fire is not is not known yet, but the external padding, which can be flammable in specific circumstances is being considered as the source of it. As per reports, a majority of Dubai’s 250 high-rise buildings use cladding panels with combustible thermoplastic cores.

A similar incident occurred in February 2015, where the same 79-storey building, which accommodates expatriate residents of the city, was devastated by a fire.

Owing to a series of fire mishaps in the Emirates, Dubai announced stringent rules to minimize fire risks, in January 2017. UAE has revised its building safety stating that cladding required on all new buildings over 15 meters tall should be fire-resistant, but older buildings were exempt from it.

Sources – The Telegraph, CNN

 

United States continues fight against ISIS

In United States’ (US) newest bid to continue the fight against Islamic State (IS) militants in Syria and Iraq, the State Department on Tuesday approved the sale of $785 million in bombs to the UAE. The UAE is an important Sunni Arab ally of Washington and has in the past taken part in air strikes against Islamic State in Syria. It’s Al-Dhafra Air Base has been playing host to about 3,500 US troops and fighter and reconnaissance aircraft.

The Pentagon on Tuesday released a statement saying that the Defense Security Cooperation Agency, which handles foreign arms sale, had informed lawmakers of the State Department’s nod for the proposed sale. The lawmakers now have 30 days to block the deal, although that is unlikely to happen since such deals are carefully scrutinised before being formally announced.

The proposed sale will include 14,640 bombs and guidance kits. The latter are capable of turning unguided bombs into precision weapons with navigation systems. There are several other munitions in the deal.

While the UAE has been a strong ally of Washington, US would like more Arab allies in the Persian Gulf area to aid them in their fight against terrorism.

Pakistan look to build momentum

Pakistan will look to add some momentum to their World Cup campaign when they take on the United Arab Emirates (UAE) at McLean Park in Napier. After recording the first win of their campaign against Zimbabwe, Pakistan will look to add another win to their kitty.

UAE on the other hand, suffered a huge loss against India and will look to improve upon its performance and give a tough fight to Pakistan. The batting has been the biggest concern for the Pakistan team as they have not been able to score a sizeable amount of runs.

Team News:

Pakistan may go in with an unchanged squad after an impressive performance in their last game.

UAE may also play the same team as they were impressive in the first two matches that they played in the tournament.

Weather and Pitch:

Napier is the highest scoring ground in New Zealand and the pitch is expected to be full of runs and a high score can be expected.

The weather is expected to be pleasant and rain is likely to stay away.

Pakistan will fancy their chances against a team which has players of Pakistani origin in their team.

Courtesy: dnaindia.com
Courtesy: dnaindia.com

India look to maintain momentum

India will look to maintain its top position in Pool B as they take on United Arab Emirates at the Western Australia Cricket Association Ground in Perth. India have been on a roll so far and have won both their matches comfortably against South Africa and Pakistan who were considered two of the strongest teams in their group. The most pleasing aspect of India’s performance has been the impressive performance by its bowling attack.

The United Arab Emirates have given a good account of themselves so far against Afghanistan and Zimbabwe. With a slightly better bowling performance, they could have won both their matches. However, India is a different kettle of fish and may prove to be a much more challenging opponent.

Team News:

Mohammed Shami has been ruled out of the match due to a knee injury and may be replaced by Stuart Binny with the rest of the team remaining unchanged.

UAE may go in with an unchanged team after an impressive performance in the previous match.

Weather and Pitch:  

The pitch has been a good one for bowlers with extra bounce and good carry. The weather is expected to be pleasant with a high of 32 degrees Celsius.

While India are fancied to win, the UAE would like to put in an impressive performance.

Courtesy: icc-cricket.com
Courtesy: icc-cricket.com

India, Bangladesh and UAE to jointly host IPL 7

Photo Courtesy – www.static2.iplt20.com

 

Finally, the suspense over the venue and dates of IPL 7 is over. The upcoming season is scheduled to kickstart on April 16. The opening ceremony is decided to be held in UAE this year and the closing ceremony has found India as its venue. The organizers have announced a three-phase schedule for this season’s tournament – The first 16 matches will be held in the UAE from April 16, the next phase between May 1 and 12th is scheduled to be in Bangladesh if the Indian Home Ministry is unable to provide security in India, and the last section will be held in India ending on June 1.

UAE emerged the frontrunner after South Africa wanted to hold the full tournament. Recently, UAE had also hosted the ICC U-19 World Cup.

The final phase of the Indian elections is on May 12th, after which the IPL will return to its home country. A detailed itinerary is likely to be declared in a couple of days. “The BCCI has got a security clearance from the union home ministry to hold the IPL matches in India after May 12 (the last day of voting). As a result, around 60 per cent of the matches would be played in UAE,” a BCCI source told mid-day.