Asia Top News and Analysis Dubai

  • DUBAI, Oct 10- J.P. Morgan Chase Inc has hired Ahmed Saeed from Nomura Holdings to head up its Middle East business focused on public sector clients, the U.S. bank said in a statement on Wednesday.

  • DUBAI, Oct 10- Qatar International Islamic Bank. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow a sukuk issue from Qatar Islamic Bank last week, which raised $750 million at a profit rate of 2.5 percent.

  • DUBAI, Oct 10- Frontier Resources International Plc has signed an exploration and production sharing agreement with the Omani government for a 100 percent interest in Oman's Block 38, Frontier said in a statement on Wednesday. The EPSA runs for six years on the Mudayy Block, covering an area of 17,425 square kilometres in the Dhofar region of southwest Oman.

  • DUBAI, United Arab Emirates-- Flights were snarled at the Middle East's busiest airport in Dubai early Wednesday after a backup system needed to deal with heavy fog failed, forcing airlines to divert dozens of planes.

  • *UAE spoke last month of Iran's "occupation". DUBAI, Oct 9- Iran's Foreign Ministry spokesman said on Tuesday Tehran would consider downgrading ties with the United Arab Emirates over three disputed Gulf islands, but state television later denied the Islamic Republic was contemplating such a move.

  • *Alcoa settlement also includes alumina supply contracts. DUBAI, Oct 9- Alcoa Inc will pay $85 million in cash and enter long-term raw material supply contracts with Aluminum Bahrain to settle the Bahraini firm's racketeering and fraud lawsuit against Alcoa, the companies said on Tuesday.

  • BEIRUT-- An official said Tuesday that an employee of Lebanon's national airline MEA was fired after a passenger complained in a social media campaign that the worker humiliated travelers from the Philippines at the Beirut airport and told them over the loudspeaker, "Filipino people, stop talking."

  • DUBAI, Oct 9- Saudi Arabia's benchmark slumped to a fresh 10- week low on Tuesday as investors fretted that a gloomier outlook for the global economy would lead to lower oil receipts for the world's top crude exporter.

  • TEHRAN, Iran-- Iran on Tuesday warned the United Arab Emirates it could cut diplomatic relations between the two countries if the Arab nation keeps repeating claims to three Gulf islands that are controlled by Tehran.

  • The diner-style chain said on Tuesday it and regional partner Saleh Bin Lahej Group plan to open 40 restaurants starting next year across the United Arab Emirates, a seven-state federation that includes the cities of Dubai and Abu Dhabi.

  • *Iran says UAE claims are "baseless". The three islands of Abu Musa and Greater and Lesser Tunb sit near important oil shipping channels at the mouth of the strategic Strait of Hormuz and were claimed by the U.S.-backed Shah of Iran in 1971, just before the seven Gulf emirates won independence from Britain and formed the UAE.

  • SINGAPORE, Oct 9- Asia's fuel oil cash differentials recovered on Tuesday as low prices helped to stir up buying interest. Cash differential for 180- centistoke fuel oil narrowed more than a dollar to a discount of 40 cents a tonne above Singapore spot quotes, the highest in three sessions.

  • CAIRO, Oct 9- Egypt has settled a row with a Dubai- based developer over a land contract reached when Hosni Mubarak was in power, a minister said on Tuesday, a deal that could help remove uncertainties that have depressed interest in the once-booming property market.

  • DUBAI, Oct 9- Iran will manage to bring its high inflation lower and return to growth next year despite Western sanctions over its nuclear programme, according to projections from the International Monetary Fund.

  • AMSTERDAM, Oct 9- When Koen Olthuis finally landed his first job after graduating as an architect, his new firm wouldn't let him work on the most historic or prestigious accounts in Amsterdam's 17th century centre.

  • SEC, the Gulf's largest utility, has a 452 billion riyal, 10- year investment plan as it speeds up delivery of its power projects to meet state infrastructure demands.

  • ABU DHABI, Oct 9- Abu Dhabi Commercial Bank. has settled a $107.13- million legal claim it filed against indebted Zabeel Investments, which is owned by the crown price of Dubai, two sources said.

  • NEW YORK-- The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. Benchmark crude gained $3.06, or 3.4 percent, to finish at $92.39 a barrel in New York. There is also concern that tensions between Turkey and Syria could escalate and disrupt supplies from the Middle East.

  • CANBERRA, Oct 9- Qantas Airways Ltd's chief executive said he was confident Australian regulators would approve a proposed alliance with Dubai's Emirates. Australia's biggest airline announced a 10- year alliance with Emirates last month that is currently under evaluation by the competition watchdog, the Australian Competition and Consumer Commission.

  • DUBAI, Oct 9- Aluminum Bahrain and U.S. aluminum maker Alcoa said on Tuesday they had settled the Bahraini firm's racketeering and fraud suit against Alcoa in return for $85 million in cash plus long-term raw material supply contracts.