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  • DUBAI, July 29- On the first visit to Iran for 12 years by a French foreign minister, Laurent Fabius conveyed an invitation from President Francois Hollande to Iran's President Hassan Rouhani to visit France in November, Iranian media said. France hopes to secure business in Iran once Western sanctions are lifted under the nuclear deal, and Fabius said last week...

  • BEIJING/ SINGAPORE, July 29- Any attempt by Iran to sell to China millions of barrels of ultra light crude built up in tankers over the last 2-1/ 2 years of sanctions is likely to be thwarted by poor refining margins and an outage at a major importer of the oil. Traders and company officials say Iran has little choice but to target China to buy the crude known as...

  • Dubai launches expansion of Mideast's biggest port Tuesday, 28 Jul 2015 | 10:11 AM ET

    DUBAI, United Arab Emirates— The Middle East's biggest sea port is growing. Dubai port operator DP World said on Tuesday it is beginning a $1.6 billion expansion of the Gulf commercial hub's sprawling Jebel Ali port. Jebel Ali is the centerpiece of government-backed DP World's network of more than 65 marine terminals around the world.

  • DUBAI, United Arab Emirates— The United Arab Emirates has slashed gasoline subsidies, announcing Tuesday that it will raise the cost of a liter of regular gasoline by 24 percent amid globally low oil prices that have cut into the country's revenues. Starting Aug. 1, drivers will pay 2.14 dirhams per liter of gasoline at the pump instead of 1.72 dirhams, or about...

  • LONDON, July 28- Emerging stocks languished near a two-year low on Tuesday after Chinese shares took another beating while currencies, mired around multi-year lows, were pulled in different directions by the rising dollar and falling oil prices. MSCI's emerging market stock index was flat after Chinese shares closed down 1.7 percent with Beijing scrambling...

  • LAUNCESTON, Australia, July 28- Weakness in global oil benchmark Brent has prompted China to buy more crude from Africa. For the Angolans, the large boost in July exports to China will be a welcome change, as they lost their number two spot behind Saudi Arabia in the first six months of 2015 to Russia, according to Chinese customs data. China imported 19.011 million...

  • *Most insurers in Reuters survey say Iran attractive market. LONDON/ SYDNEY, July 26- Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country with caution. Under the accord reached...

  • *Accounted for 45 pct of Dubai's June trading volume. DUBAI, July 23- A surge in shares of Amlak Finance since they returned to Dubai's stock market last month has raised concerns about a new wave of unbridled speculation on one of the region's biggest exchanges. Amlak accounted for 45 percent of total traded value on Dubai's bourse in June, eclipsing much bigger...

  • UAE to scrap subsidized price controls on fuel Wednesday, 22 Jul 2015 | 5:49 AM ET

    DUBAI, United Arab Emirates— Drivers in the car-loving Emirati cities of Dubai and Abu Dhabi can no longer count on below-market rates at the pump after the OPEC nation unveiled plans Wednesday to scrap existing fuel price controls, starting next month. The surprise move announced by the Ministry of Energy comes as the oil-rich United Arab Emirates, the...

  • DUBAI, United Arab Emirates— The developer of a branch of the Louvre being built in the Emirati capital says one of the workers on the project has died in the first such incident on the project. The government-backed Tourism Development and Investment Company said in a statement Monday that the worker died in June. The Louvre is part of an ambitious cultural...

  • Foreign investors try to tap into Iran Monday, 20 Jul 2015 | 1:00 AM ET

    LONDON/ NEW YORK, July 20- A few investors are racing to establish funds for Iran following last week's nuclear deal with world powers, and many others are tapping into multinationals already present in the $400 billion economy. Brokerage Renaissance Capital predicts $1 billion will flow into Iran in the first year after sanctions end, although that is not...

  • While it will likely be months before sanctions on Iran ease, business and political leaders are wasting no time in trying to tap into a large and what they hope will be a lucrative Iranian market. Airlines in Dubai are fast adding new Iran routes to meet growing demand. Deal or no deal, U.S. sanctions not related to the nuclear program will still be in place and bar...

  • DUBAI, July 16- Bond issues by Saudi Arabia's government are expected to be worth tens of billions of dollars by the end of 2015 as the state ramps up debt sales to plug a hole in finances created by low prices for oil exports. Central bank governor Fahad al-Mubarak announced last week that Riyadh had sold its first sovereign bonds since 2007, a 15 billion riyal...

  • WASHINGTON, July 15- President Barack Obama, seeking to sell the Iran nuclear deal to skeptical U.S. lawmakers and nervous allies, insisted on Wednesday the landmark agreement was the only alternative to a nuclear arms race and more war in the Middle East. Obama made his case in a nationally televised news conference responding to critics at home and abroad after...

  • How to spend $100 bln? Policy headaches loom for Iran Wednesday, 15 Jul 2015 | 9:52 AM ET

    *Trade and investment boom could destabilise economy. *Mismanaging inflows might be worse than sanctions. DUBAI, July 15- How to spend $100 billion may sound like a pleasant problem to have, but it is one of several economic policy headaches looming for Iranian President Hassan Rouhani after this week's nuclear deal promised to lift sanctions crippling the...

  • DUBAI, July 14- Iran is preparing for a trade and investment boom that could reshape the region after agreeing with world powers to curb its nuclear programme, paving the way for sanctions that have stifled its economy to be lifted. With just under 80 million people and annual output of some $400 billion, Iran is set to be the biggest economy to rejoin the global...

  • DUBAI, July 14- Iran and the West could not have agreed a nuclear deal this week without the backing of Supreme Leader Ayatollah Ali Khamenei, who set aside his deep mistrust of the United States to end decades of Iranian isolation. Iran and world powers reached a deal on Tuesday on curbing Iran's nuclear programme for at least a decade in exchange for sanctions...

  • LONDON, July 13- A bailout deal for Greece and Chinese shares' bounce to two-week highs helped lift emerging stocks by 1 percent on Monday, with the sharpest gains seen in eastern Europe. Euro zone leaders agreed on a roadmap to a possible third bailout for Greece after night-long haggling, sparking gains on equity and peripheral bond markets, even though the deal...

  • For Indians, paper gold can't beat the real thing Sunday, 12 Jul 2015 | 5:00 PM ET

    MUMBAI, July 13- India is meeting stiff resistance in its drive to make the buying of gold jewellery more transparent and to channel demand into paper gold to stop the metal being used to hide billions of dollars of undeclared' black money'. To track larger gold deals, this year's budget declared that, from June 1, customers would have to disclose their tax code, or...

  • *Abdullah al-Turifi to retire- sources. ABU DHABI/ DUBAI, July 9- The chief executive of the United Arab Emirates stock market regulator, Abdullah al-Turifi, is set to retire, four sources familiar with the matter said on Thursday, with the move possibly happening as early as the next few weeks. Turifi, thought to be in his late 50 s or early 60 s, has served since 2003 as...