Saudi Arabia
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The UAE and Saudi Arabia big drivers for the InterContinental Hotels Group, the world's largest hotel by number of rooms. Richard Solomons, the firm's CEO, discusses the drivers of regional demand, and why Africa is not on his priority list.
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Global hotel brands' aggressive expansion in the Arabian Gulf is helping to drive profits and offset markets hit by the Arab uprisings, hotel group CEOs told CNBC.
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ISLAMABAD, May 12- After 14 years out of power, Nawaz Sharif is poised to become prime minister again, and he is a man in a hurry to clean up what he calls Pakistan's mess. Sharif, who vows to bring in free market enterprise and ease economic controls, says speedy growth is the only answer for nuclear-armed Pakistan, a strategic U.S. ally.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets. After a big slide in oil and gold, traders will be looking to see if they recover Monday, she says.
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*Raises demand for OPEC crude forecast by 90,000 bpd. *OPEC sees downside risk to 2013 oil demand growth. LONDON, May 10- OPEC will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year, signs of a stronger market that argue against any calls for supply restraint when the group meets on May 31.
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LONDON, May 10- OPEC will need to pump more oil than previously thought to balance the market in 2013 and expects global consumption to be much higher in the rest of the year, the group said in a report ahead of its meeting to set policy on May 31.
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*U.S. dollar climbs above 100 yen. *Gold off 1 percent as U.S. jobless data, strong dollar weigh. NEW YORK, May 9- The U.S. dollar broke through 100 yen on Thursday, its highest level against the currency in over four years, while stocks in major markets slipped from recent record levels.
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*Gold off 1 pct as U.S. data, strong dollar weigh. NEW YORK, May 9- The U.S. dollar rose to its highest against the yen in over four years on Thursday, blasting through the 100- yen level, while shares in major markets slipped from recent record levels.
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NEW YORK, May 9- A measure of stocks around the world dipped after setting a fresh 5- year high on Thursday and the U.S. dollar strengthened in the wake of better-than-expected job market data.
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LONDON, May 9- Brent crude fell below $104 a barrel on Thursday as rising fuel supplies and faltering demand pointed to a growing surplus of oil worldwide. U.S. crude oil inventories jumped to a fresh record last week as domestic production continued to climb, the U.S. Energy Information Administration said on Wednesday.
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ISLAMABAD, May 9- Whoever wins Pakistan's elections has a fight on their hands- not just against the Taliban, but negotiating with international backers to provide a multi-billion-dollar bailout for a country that has habitually used aid as a crutch to avoid reform.
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TORONTO, May 8- Tim Hortons Inc named a long-time Nestle executive as its new chief on Wednesday, a job that will be no easy task given drooping demand at the Canadian coffee and doughnut chain and a push by a U.S. hedge fund for better returns.
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TORONTO, May 8- Tim Hortons Inc named a long-time Nestle executive as its new chief executive on Wednesday, a job that comes with tall tasks given drooping demand at the Canadian coffee and donut chain and a U.S. hedge fund pushing for better returns.
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LONDON, May 8- Morocco is set to pay more for its solar power than far richer countries such as Germany and should switch tack to cheaper solar technologies that can compete better with wind, oil and coal.
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*FDA sees long-term consequences in recruitment, future leadership. Participants at the Reuters Health Summit in New York this week spoke to the immediate impact of $85 billion in automatic government-wide budget cuts that began on March 1.
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DUBAI, May 7- JPMorgan Chase Inc confirmed on Tuesday that its top banker for Saudi Arabia, Abdulaziz Al Helaissi, is leaving to take a position with Saudi Arabia's central bank.
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*Little sign of pull-back in Dubai, Abu Dhabi. DUBAI, May 7- Egypt's bourse rose to an eight-week high on Tuesday as corporate news lifted sentiment, while Saudi Arabia's bourse slipped for a third straight session in an otherwise positive regional picture.
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RIYADH, May 7- Saudi Arabia should cut energy subsidies that are burdening public finances, the economy minister and the head of the state-run utility said, a move that would also tackle the issue of erosion of crude exports.
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RIYADH, May 7- Saudi Arabia should cut energy subsidies that are burdening public finances, the economy minister and the head of the state-run utility said, a move that would also tackle the issue of erosion of crude exports.
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GENEVA, May 7- Two more people in Saudi Arabia have died from a new strain of coronavirus that has emerged in the Middle East, bringing the toll in the kingdom's latest outbreak to seven, the World Health Organization said on Tuesday.
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RIYADH, May 7- Saudi Arabia is finalising a regulatory framework which will allow foreigners to directly own stocks in the kingdom, though the market has no need for liquidity from international investors, the head of the country's market regulator said.
