Lower oil prices are good for some countries and bad for others. In a few, things could get ugly.» Read More
FRANKFURT, Oct 11- Abu Dhabi's sovereign wealth fund Aabar sold the remainder of its 3.07 percent stake in Daimler on Oct. 5, the German automotive group said in a regulatory filing on Thursday.
*Euro crisis has hit Morocco hard. KUWAIT/ RABAT, Oct 11- Morocco's King Mohammed will make a rare tour of Gulf Arab countries before the end of the year as his cash-strapped government tries to drum up investor interest in a sovereign bond.
KUWAIT, Oct 10- In a luxury hotel suite, away from prying eyes, twenty Kuwaiti female guests at a traditional wedding party segregated by the sexes watch the men via a video link. "The most important thing now is getting a university degree," said Noora al-Jaber, 28, who married seven years ago.
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.
SINGAPORE, Oct 9- The Asian naphtha price rebounded to a five-session high of $965 a tonne on Tuesday, with the intermonth premium recovering to reach $12.00 a tonne as demand from South Korea returned.
"Our countries have exerted major efforts to restore global oil market stability, a feat that has actually been achieved," Saudi Oil Minister Ali al-Naimi told a meeting of Gulf Arab energy ministers in Riyadh.
RIYADH, Oct 9- Saudi Arabia is satisfied that oil prices have fallen to a level that does not hamper global growth, Saudi Oil Minister Ali al-Naimi said on Wednesday, signalling success in a Gulf Arab effort to keep oil prices under control despite a halving of Iranian exports because of Western sanctions.
KUWAIT, Oct 9- Kuwait's cabinet approved a slightly revised budget for the current fiscal year with projected expenditure of 21.24 billion dinars, state news agency KUNA reported late on Tuesday. The draft law, which still needs approval of the country's ruler, sees revenues at 13.93 billion dinars, KUNA said, citing Finance Minister Nayef al-Hajraf.
DUBAI, Oct 8- Saudi Arabia's share index hit a 10- week low and most other Gulf Arab bourses declined on Monday as slumping oil prices and a gloomy start to the week on world markets weighed on regional sentiment.
DUBAI, Oct 8- The World Bank's financial arm International Finance Corp plans to increase its investments in Yemen, Iraq and North Africa next year to help support development and job creation, a senior IFC executive said.
By Dinesh Nair and David French. DUBAI, Oct 8- Kuwaiti telecoms operator Viva, part-owned by Saudi Telecom Co, has approached banks for a $400 million loan aimed at expanding its existing capabilities, two banking sources familiar with the matter said. Viva is Kuwait's third mobile operator, behind larger rivals Zain and Qatar Telecom unit Wataniya.
Corporate and infrastructure issuers in the Gulf region may increasingly rely on sukuk, the Islamic equivalent of bonds, as a source of funding in coming quarters says a report titled "Sukuk Are Surpassing Conventional Bond Issuance In The Gulf Countries As Yields Tighten," published Oct. 5, 2012, by Standard& Poor's Ratings Services.
DUBAI, Oct 7- Kuwait's Burgan Bank, which recently bought the Turkish arm of EFG Eurobank, is planning to buy a quarter stake in Malta- based trade finance specialist Fimbank, Burgan said in a statement on Sunday. "The acquisition is conditional on signing the final agreement with Fimbank and approval from relevant authorities in Malta," Burgan said.
KUWAIT, Oct 7- Kuwait's ruler ordered the dissolution of parliament on Sunday, a senior government minister said, opening the way to a parliamentary election in the major oil-producing Gulf Arab state after months of political deadlock.
KUWAIT, Oct 7- Kuwait's ruler ordered the dissolution of parliament on Sunday, a senior government minister said, a step opening the way to a parliamentary election in the major oil-producing Gulf Arab state after months of political deadlock.
KUWAIT, Oct 7- Kuwait's ruler ordered the dissolution of parliament on Sunday, television channel al-Rai and state news agency KUNA said, a step which opens the way for parliamentary elections. Sheikh Sabah al-Ahmad al- Sabah had been widely expected to take the step.
*Deal gives Qtel more control over Algeria, Tunisia subsidiaries. to 92.1 percent, giving an instant boost to its bottom line and more control of subsidiaries in the high growth markets of Algeria and Tunisia.
DUBAI, Oct 7- Qatar Telecom has raised its stake in Kuwait's Wataniya to 92.1 percent following the close of its tender offer. The Qatari firm, which operates in 16 countries across the Middle East, Africa and Asia, paid 519.1 million Kuwaiti dinars at 2.6 dinars per share to raise its stake from 52.5 percent, it said in a statement on Sunday.
DUBAI, Oct 7- Qatar Telecom:. *Now owns 92.1 percent of Kuwait's Wataniya after tender offer. *Says paid $1.8 billion to raise stake in Wataniya to 92.1 percent from 52.5.
*KIA tenders entire 23.5 pct stake- source* Qtel had bid $2.2 bln for remaining 47.5 pct stake* Announcement of tender details expected Sunday By Dinesh Nair and Matt Smith. DUBAI, Oct 6- Qatar Telecom is set to control more than 90 percent of Kuwait's Wataniya.