00:00The Abu Dhabi National Oil Corporation, or ADNOC as it's known, awarded on Sunday a new
00:07onshore block for development. The concession, which is onshore block 4, was awarded for
00:13664 million dirhams to Japan's Inpex Corporation, with a view to developing it to becoming an
00:19oil field one day. It's a 35 year concession and it's 100% owned by Inpex Corporation now.
00:26Elsewhere, Boeing has said that its 737 MAX 8 fleet, which is the fleet of jets grounded
00:32after the Ethiopian Airlines disaster last week, will be grounded at least until May,
00:37as investigators try and understand exactly what happened and whether the disaster in
00:42Ethiopia is linked to the disaster in Indonesia from last October, which involved the same
00:47plane. Analysts have said that the grounding of these jets may lead directly to a financial
00:53loss for Boeing, and may have longer term business effects on the company's financial
00:59stability. And lastly, the UAE Central Bank has launched a new initiative, working with
01:04a number of other national banks, to launch a new loan scheme, aiming to ease the debt
01:11burden of many UAE nationals. To help UAE citizens manage their debt accumulation, the
01:17scheme would propose that all of the existing debts of an individual Emirati would be consolidated
01:23into one monthly manageable loan, which will not cost more than 50% of that individual's
01:29income. The scheme is intended to help ease that debt accumulation and ease the burden
01:34of payments on that debt. That's all for today. I'm Ed Clouds. You can find stories as always
01:40on golfnews.com. Thanks very much for watching.
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