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Asia Top News and Analysis Dubai

  • DUBAI, Dec 5- Stock markets in the Gulf fell in early trade on Monday as investors took profits on gains in the past few weeks after the mood in global markets darkened because of the' no' vote in Italy's referendum on constitutional reform. The euro has dropped to a 20- month low and investors are exiting riskier assets after Italian Prime Minister Matteo Renzi said...

  • DUBAI, Dec 5- Shares in the Gulf may slip on Monday as the global market mood has turned negative after Italy voted' no' on constitutional reform, while shares in Egypt's Orascom Telecom could be hit by the surprise news that Naguib Sawiris is stepping down as chief executive. The euro has dropped to a 20- month low and investors are exiting riskier assets after...

  • *Dubai outperforms as it catches up with region. DUBAI, Dec 4- Most stock markets in the Gulf rose on Sunday as investors cheered a rally in crude oil prices, while foreign buyers continued to support Egypt's index. But a string of positive events over the last several weeks- principally the government's $17.5 billion international bond sale, its promise to settle...

  • DOHA, Dec 1- A computer virus attack in mid-November targeted Saudi government bodies and vital installations including the kingdom's transport sector, Saudi state news agency SPA reported on Thursday. The attack appeared to originate outside the country and was one of "several ongoing cyberattacks targeting government authorities", SPA quoted the...

  • Dec 1- The oil price rally sparked by an OPEC-Russia deal to cut output is likely to be short-lived, say traders in Asia, because the agreement may only draw more supplies from storage tanks and more crude shipments from the United States. And even without increased supplies from elsewhere, if the Organization of the Petroleum Exporting Countries and Russia do...

  • Khalid Al-Falih, Saudi Arabia's energy and industry minister, speaks to a member of his delegation ahead of the 171st Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Wednesday, Nov. 30, 2016.

    With OPEC deal falling into place and other market forces at work, the new norm for crude could be $50 to $60, says trader Naeem Aslam.

  • DUBAI, Nov 30- Saudi Arabia's ACWA Power is expected to offer a hefty spread on its planned $1 billion bond offer, partly because of market volatility since the U.S. elections and a narrowing issuance window, bankers and investors said. ACWA, in which Saudi sovereign entities hold a combined 16.3 percent stake, is set to be the first international bond from the...

  • *180- cst refining margin to Dubai crude narrowest in nearly 5 yrs. SINGAPORE, Nov 29- Singapore's benchmark 180- cst fuel oil refining margins settled on Tuesday at their narrowest discount to Dubai crude in almost five years on the back of robust seasonal demand, limited supplies and falling crude prices ahead of an OPEC meeting on Wednesday.

  • LAUNCESTON, Australia, Nov 29- Saudi Arabia's problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia's oil exports head to Asia, and the kingdom's struggles in the region's two biggest importers, China and India, are symptoms of its wider issues in...

  • LAUNCESTON, Australia, Nov 29- Saudi Arabia's problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia's oil exports head to Asia, and the kingdom's struggles in the region's two biggest importers, China and India, are symptoms of its wider issues in...

  • DUBAI, Nov 28- Saudi Arabia's government has begun injecting large amounts of money into the economy, which could boost growth at the end of this year after a sharp slowdown due to low oil prices, central bank data showed on Monday. Its finances strained by shrunken oil revenues, Riyadh raised $17.5 billion last month in its first international bond issue- the...

  • *YNAP, Dubai billionaire Alabbar plan joint venture. DUBAI, Nov 28- Italian online fashion retailer Yoox Net-A-Porter Group and Dubai- based billionaire Mohamed Alabbar said on Monday they will form a 130 million euro luxury retail business in the Middle East. Alabbar bought into a 100 million euro capital increase by YNAP through his Alabbar Enterprises, which...

  • MUMBAI/ BENGALURU, Nov 25- Mumbai resident Shashikant Zhalte's wedding this weekend will be less sparkling than his family had hoped, thanks to a cash shortage following Indian Prime Minister Narendra Modi's shock withdrawal of high-value notes to fight "black money". The scenario is being played out across India, the world's second biggest consumer of gold,...

  • DUBAI, Nov 26- Iran is optimistic OPEC can reach a deal on limiting oil supplies and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Oil Minister Bijan Zanganeh said on the ministry's official website SHANA. Bouterfa said Algeria's proposals called for 1.1 million barrels per day in cuts by OPEC members and...

  • DUBAI, Nov 26- Iran is optimistic about OPEC reaching an agreement and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Oil Minister Bijan Zanganeh said on the ministry's official website SHANA. The general trend and public statements suggest that OPEC can reach a viable agreement for its production and market...

  • MUMBAI/ BENGALURU, Nov 25- Mumbai resident Shashikant Zhalte's wedding this weekend will be less sparkling than his family had hoped, thanks to a cash shortage following Indian Prime Minister Narendra Modi's shock withdrawal of high-value notes to fight "black money." The scenario is being played out across India, the world's second biggest consumer of gold,...

  • *Egypt pulls back as local traders dump shares. DUBAI, Nov 24- Egypt's stock index slipped from a multi-year peak on Thursday while shares in the Gulf were mixed with Saudi Arabia's market swinging in volatile, heavy trade but ending the week on a firm footing. Mohamed El Nabarawy, head of asset mananement at Cairo- based HC Securities& Investment, believes that there...

  • The extent of its use in the future is difficult to predict, but at least a portion of the estimated $2 trillion of projects planned in the Gulf Cooperation Council are likely to require ECA involvement. As a result, the drivers of infrastructure spends, such as sovereigns and large public sector entities, are evaluating alternate modes of financing, including...

  • TORONTO, Nov 23- Former Amaya boss David Baazov said he would seek new funding for his C $3.65 billion bid for the gambling firm, after an investor he had previously said was backing it turned out not to be. The others were the Head& Shoulders Global Investment Fund, Hong Kong- based Goldenway Capital and Ferdyne Advisory, which is registered in the British Virgin...

  • *Dubai's Arabtec surges by daily limit, other speculative shares rally. DUBAI, Nov 23- Saudi Arabia's index firmed on Wednesday as blue chips resumed their climb and the positive mood flowed into other Gulf bourses, carrying them higher. Riyad Capital said in note that STC has maintained its dividend policy of 1 riyal per quarter and they believe it has the ability...