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United Arab Emirates

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  • Shake Shack extends run on "chicken shack" talk Friday, 22 May 2015 | 2:04 PM ET

    NEW YORK— Shake Shack's shares surged to another record high Friday, fueled in part by speculation that the hamburger chain could be thinking about dishing out chicken. Last month, a unit apparently tied to Shake Shack's parent company applied to trademark the words "Chicken Shack" for chicken sandwiches. Earlier this month, Shake Shack Inc. reported...

  • NEW DELHI, May 21- India's central bank is working to liberalize its foreign exchange rules to make it easier to do business with Asia's third-largest economy, Deputy Governor H.R. Khan said on Thursday, a step that could support flagging exports. "We have got a positive response from the RBI and it could soon issue directions to banks," said S.C. Ralhan, president of...

  • *Kuwait, Bahrain parliaments probing national funds. Issue of wasting resources becomes more sensitive. DUBAI, May 20- Running sovereign wealth funds in the Gulf has become an awkward business in the era of cheap oil, as their managers face growing pressure from politicians and the public to prove they're investing national reserves wisely.

  • DUBAI, May 20- An $85 million loan taken out by a Ugandan bank this year points to an emerging trend in international capital markets: the rise of the Gulf as a syndicated loan market for Africa and Asia. Stanbic Bank Uganda originally intended to raise $75 million through the 18- month deal in January, but expanded that because of strong interest from banks wanting...

  • *Middle East crude flows to China down over 10 pct since January. BEIJING/ SINGAPORE, May 20- Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records. Reuters pricing and trade flow data show a 40 percent...

  • DUBAI, United Arab Emirates— The property developer behind the record-breaking Burj Khalifa skyscraper in Dubai will float shares in its Egyptian subsidiary to raise cash for ongoing and future projects in the North African nation. Dubai- based Emaar Properties announced Wednesday that investors will have a chance to buy 13 percent of its Emaar Misr...

  • *Bellwether project seen reviving investment in Mongolia mining. ULAN BATAAR/ MELBOURNE, May 19- Mongolia and Rio Tinto have reached an agreement paving the way for work to resume on a stalled $5 billion underground copper mine that is expected to drive growth for both the country and the global miner. The Oyu Tolgoi project, which started producing from an open...

  • *Baghdad delays oil contract negotiations as prices rally. DUBAI, May 18- BP has cut its development budget for Iraq's giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State was making it difficult to pay oil companies. The British oil major has agreed with Baghdad to reduce its 2015...

  • DUBAI, United Arab Emirates— The company behind a high-profile green-energy technology community in Abu Dhabi says a fire has broken out on the site for the second time in a week. Government-backed Masdar said in a statement Sunday that the fire started at about 1:30 a.m. and damaged parts of the company's temporary offices on the outskirts of the Masdar City...

  • DUBAI, United Arab Emirates— No one onboard a Singapore- flagged commercial tanker that was fired on by an Iranian naval patrol in the Persian Gulf was injured and the ship did not sustain serious damage, the companies responsible for it said Friday. The tanker had been in international waters on its way from Bahrain to the port of Fujairah in the United Arab...

  • May 14- Etihad Airways on Thursday answered U.S. airlines' claims that the Abu Dhabi- based carrier benefits from subsidies, alleging that those airlines received more than $70 billion in government support since 2000, largely via bankruptcy protection and pension guarantees. Etihad presented its subsidy claims as the Obama administration is slated to...

  • LONDON, May 14- Singapore- flagged oil products tanker Alpine Eternity has reached the port of Jebel Ali in the United Arab Emirates safely after coming under attack in the Gulf earlier, the vessel's manager said on Thursday. A spokesman for the vessel's Norwegian manager Transpetrol said the vessel was attacked at sea at 0800 GMT on Thursday on its way to the UAE...

  • SINGAPORE FLAGGED OIL PRODUCTS TANKER ALPINE ETERNITY ATTACKED AT SEA, WAS ON WAY TO UAE PORT OF FUJAIRAH- SHIP MANAGER.

  • BEIJING, May 14- Alibaba Group Holding Ltd will invest heavily in existing and new ventures abroad, making its push beyond the China market a top priority, the Chinese e-commerce leader's new CEO, Daniel Zhang, said. Zhang's comments come at a time when Alibaba aims to maintain its rapid growth even as the prospect of e-commerce saturation at home looms over the...

  • WASHINGTON/ NEW YORK, May 14- Major banks wary of heavy U.S. penalties will be reluctant to restore ties with Iran even if sanctions are lifted in a possible nuclear deal, bank executives and advisers say, likely denting Iran's ambition to attract foreign investment to revive its crippled economy. After years of being frozen out of the global banking system and...

  • ABU DHABI/ SEOUL May 13- State-run Abu Dhabi National Oil Company has signed a 40- year deal with GS Energy, selling the South Korean firm a 3 percent stake in an onshore oil concession to develop the United Arab Emirates' biggest oilfields. GS Energy joins Japan's Inpex Corp and France's Total in winning contracts so far to develop the oilfields, which produce 1.6...

  • LONDON, May 13- Emerging market currencies and stocks strengthened on Wednesday after disappointing data from China spurred expectations of more stimulus from Beijing, with eastern European currencies drawing further support from better-than-expected growth data. MSCI's emerging market index was up 0.4 percent with the Asia ex- Japan index adding 0.5...

  • DUBAI, May 13- Dubai's Emirates airline could expand its route network by using European hubs to fly into North and South American cities, its president said, a move that could anger U.S. carriers which accuse it of competing unfairly through state subsidies. Emirates is considering plans to open new routes to U.S. cities from Dubai, as well as flying new routes from...

  • DUBAI, May 12- The cloud computing unit of Chinese e-commerce giant Alibaba Group Holding said it would establish a base in Dubai to seek business from companies and governments in the Middle East and North Africa. The deal may bolster Dubai's efforts to develop as a technology centre for the region, in addition to marking an expansion of Alibaba's cloud...

  • Sudatel plans to invest $267 mln to 2020 Tuesday, 12 May 2015 | 9:02 AM ET

    ABU DHABI, May 12- Sudan Telecommunications Group plans to invest $267 million up to 2020 to transform the country's telecoms sector and grow its subscriber base, its chief executive told Reuters on Tuesday. "There will be a complete transformation from mobile to ICT and we are investing in strong fibre optic networks and broadband to achieve our goals," Tarig...