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Asia Top News and Analysis Dubai

  • *Low-priced stocks the focus in Dubai. DUBAI, May 29- Gulf stock markets were mixed on Monday with Saudi Arabia and Dubai rebounding modestly from losses which they suffered on Sunday due to disappointment that last week's meeting of global oil producers did not take stronger action to boost prices. The Dubai index added 0.7 percent.

  • LARNACA, May 29- Iraq may look at hedging part of its crude oil production, the head of the OPEC member's oil marketer SOMO said, as a way to protect government revenue against the risk of oil price volatility. SOMO is floating an idea now and this is yet to be studied, " Falah Al-Amri, who is also Iraq's OPEC governor, told Reuters in an interview. "There are a lot of...

  • LARNACA, May 29- Iraq may look at hedging part of its crude oil production, the head of the OPEC member's oil marketer SOMO said, as a way to protect government revenue against the risk of oil price volatility. SOMO is floating an idea now and this is yet to be studied, " Falah Al-Amri, who is also Iraq's OPEC governor, told Reuters in an interview. "There are a lot of...

  • WASHINGTON— Homeland Security Secretary John Kelly said Sunday he's considering banning laptops from the passenger cabins of all international flights to and from the United States. The current U.S. ban applies to nonstop U.S.-bound flights from 10 international airports in Amman, Jordan; Kuwait City, Kuwait; Cairo; Istanbul; Jeddah and Riyadh, Saudi Arabia;...

  • *Qatar's Ezdan levels off after steep slide. DUBAI, May 28- Most Gulf stock markets fell in disappointment on Sunday after global oil producers agreed to extend cuts in output by nine months in an effort to prop up prices, while real estate developers boosted Egypt's index. Last Thursday's oil output deal may put a floor under oil prices at around $50 a barrel for...

  • DUBAI, May 28- Dubai contractor Drake& Scull International expects to have nearly 1 billion dirhams of cash flow available over the next four years to partly repay its debt, banking sources told Reuters. The loss-making builder sent non-disclosure agreements to its lenders in April, ahead of planned meetings to discuss the rescheduling of payments on existing...

  • TORONTO, May 26- The Toronto Stock Exchange's efforts to win a slice of the massive Saudi Aramco public listing plays up the country's deep experience in natural resources as part of a broader offer to help the kingdom with its shift away from oil dependence. One source directly involved in the Canadian pitch told Reuters they are focused on convincing the...

  • TORONTO, May 26- The Toronto Stock Exchange's efforts to win a slice of the massive Saudi Aramco public listing plays up the country's deep experience in natural resources as part of a broader offer to help the kingdom with its shift away from oil dependence. One source directly involved in the Canadian pitch told Reuters they are focused on convincing the...

  • RIYADH, May 25- Saudi Telecom Co's new $500 million venture capital fund expects to complete its first transaction by the fourth quarter of this year, the fund's chief executive said on Thursday at its launch in Riyadh. It would aim to spend its $500 million over the next four to five years in $100 million tranches. Biyari said the $100 million Careem stake would be...

  • DUBAI, May 25- Shares of Qatar's largest property developer plunged 10 percent on Thursday after its shareholders gave preliminary approval to take the company private, while a dip in crude oil took the Saudi equity index lower in its final hour of trade. Ezdan Holding Group, with majority ownership by the ruling al Thani family, said shareholders who are against...

  • DUBAI, United Arab Emirates— Bahrain and Egypt on Thursday apparently joined Saudi Arabia and the United Arab Emirates in blocking access to websites run by the pan-Arab satellite network Al-Jazeera, part of a growing regional dispute with Qatar after an alleged hack of its state-run news agency. The alleged hack— and a purported fake news report that was...

  • *Qatar First Bank bounces from record lows. RIYADH, May 24- Major Gulf stock markets weakened on Wednesday, with amusement park operator DXB Entertainments continuing to drag down Dubai while banking shares lifted Egypt in the wake of Sunday's interest rate hike. Emaar Malls fell 1.9 percent after the retail arm of Emaar Properties said it would spend $151...

  • LONDON/ DUBAI, May 24- Dubai is looking into creating a $1 billion investment fund focused on shipping to develop the Gulf city's maritime sector and ride out a global industry downturn, three finance sources familiar with the plans say. The sources said the Dubai Maritime City Authority, the government entity responsible for developing the maritime industry...

  • DUBAI, United Arab Emirates— A court in the United Arab Emirates sentenced a businessman accused of stealing $1.5 billion while working for one of its sheikhdoms to 15 years in prison over one alleged scam, authorities said Wednesday. Businessman Khater Massaad maintained his innocence and told The Associated Press from Saudi Arabia that the charges were...

  • *Dubai's DFM, DXBE hit by Q2 revenue worries. DUBAI, May 23- Egypt's stock market on Tuesday recovered some of the previous day's heavy losses while Gulf bourses were weaker as investors booked profits ahead of the holy month of Ramadan, when trading volumes and liquidity often decrease. Importers may benefit from lower input costs if the rate hike strengthens the...

  • *Real estate shares hit hardest in Egypt. DUBAI, May 22- Egypt's stock market tumbled in heavy trade on Monday after the central bank unexpectedly raised key interest rates overnight, while Qatar outperformed in an otherwise quiet Gulf. The motive for the hike was to combat Cairo's hyperinflation and it came at the recommendation of the International Monetary...

  • *Riyadh may need to loosen purse strings to boost economy. RIYADH, May 22- Pressure on Saudi Arabia's finances will make it eager to secure a deal on oil output cuts at this week's talks among global producers, even if Riyadh has to shoulder the lion's share of the reductions. The result, oil analysts and economists say, is that Saudi Arabia will go into the meeting of...

  • Barclays will now seek to bolster staff in its private banking hubs of London, Dublin, Geneva, Monaco, India, Dubai, Jersey, Guernsey and the Isle of Man, the source said. "In line with Barclays International's overall strategy we are positively investing in Private Bank& Overseas Services," a spokesman for Barclays said. Banks worldwide are pushing into private...

  • *Arabtec soars in Dubai after it wins big order for tower. RIYADH, May 21- Saudi Arabia's stock market outperformed a sluggish region on Sunday after U.S. and Saudi companies signed over $200 billion of deals during the visit to Riyadh by President Donald Trump. "Sentiment is high because of the deals," said Talal Samhouri, head of asset management at Qatar's Amwal,...

  • *Energy minister says deals worth over $200 billion signed. President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. Energy minister Khalid al-Falih said deals involving all companies totalled over $200 billion, many of them designed to produce things in Saudi Arabia that had previously been imported.