*IMF says Iraq must revise "too expensive" 2017 draft budget. The political infighting comes as major OPEC producer Iraq struggles to fill a public deficit left by the collapse in global prices for its crude exports. To replace missing oil revenue, Iraq has turned to the International Monetary Fund for a loan package, which would also serve as the basis for other...
*Kuwait banks gain after cbank says financial system stable. DUBAI, Sept 27- Saudi Arabia's stock index slumped 3.8 percent on Tuesday after the government said it would cut ministers' salaries by 20 percent and scale back financial bonuses and perks for public sector workers under an austerity drive. NCB Capital estimated allowances accounted for about a...
*Poses big threat to rivals in Europe and elsewhere. *UberEats launches in Amsterdam, five other cities this week. In a measure of rising ambition beyond its taxi business, Uber will begin delivering meals in Amsterdam on Thursday just as Dutch market leader Takeaway.com, begins trading on the city's stock market.
Uber is making a broad international push into takeaway meal deliveries, backed by a big staff recruitment and marketing campaign.
Showing its ambition to expand well beyond the core online taxi-hailing business, Uber announced on Tuesday the launch later this week of its UberEats meal delivery app service in Amsterdam, just as Takeaway.com, the local market leader in the Netherlands, is seeking a share listing. In addition, the company told reporters in Amsterdam that it will open the...
In a sign of growing ambition beyond its taxi business, Uber is gearing up to deliver meals in Amsterdam this week just as Takeaway.com, the restaurant ordering leader in the Netherlands, lists on the Amsterdam stock market. The plan include 16 cities in 12 European countries ranging from Moscow to Madrid to Manchester, 11 new cities in nine Asian countries-...
*CIB top gainer in Egypt, but overall market volumes low. DUBAI, Sept 26- Saudi banking shares rallied on Monday after the central bank said it would deposit about 20 billion riyals at commercial lenders and introduce two new money market instruments to fight a surge in market interest rates caused by low oil prices. Blue-chip lenders Samba Financial Group and...
*Algeria minister says won't come out of meeting "empty-handed". SINGAPORE, Sept 26- Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers. Members of the Organization of the Petroleum Exporting Countries will meet on...
A spat among airlines over which deserved the contract to fly U.S. government workers on certain routes intensified on Tuesday.
CNBC's Phil LeBeau reports the latest on Hyperloop as the futuristic transportation company inks a deal with Dubai's DP World for cargo.
Shares in National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) soared on Sunday after they confirmed discussing a possible merger.
More than two-thirds of Gulf banks reported an increase in unpaid loans in the first three months of the year and more defaults are likely.
CNBC's Hadley Gamble reports on protests outside the offices of the Saudi Binladin Group, which has laid off 50,000 foreign construction workers.
Some hot global property markets may be showing signs of cooling off, but that hasn’t dissuaded Dubai’s Emaar Properties.
FMHR trader Stephen Weiss is in Dubai and reports on oil production and the markets in the Middle East.
Relatives gathered to mourn the 62 victims of a passenger jet crash in Russia as officials warned a probe could take weeks to determine the cause.
Abu Dhabi stepped up its rivalry with Dubai to be the financial hub of the Middle East and diversify from oil production on Wednesday.
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros.
Alharith Bin Salem Almoosa, vice chairman and deputy GM of FalconCity of Wonders, explains why investing in Dubai property is fairly secure.
CNBC's Michelle Caruso-Cabrera reports on trading action in Dubai, Saudi Arabia, Tehran and Qatar.