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United Arab Emirates

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  • Jersey eyes liquidity in Asian, Middle Eastern banks Sunday, 23 Nov 2014 | 12:52 PM ET

    Situated between France and Britain in the Channel, Jersey is a British Crown dependency outside of the United Kingdom and the European Union. It is jostling with larger offshore markets such as Switzerland, the world's leading offshore private banking centre, to manage part of the growing liquidity in Asian and Middle East banks. Presently, 18 percent of the...

  • *Says will raise matter with Saudi Arabia at OPEC. *OPEC meets Nov. 27 in Vienna. Zanganeh said he will talk with top oil exporter Saudi Arabia about market share when OPEC meets next week, IRNA said on Thursday.

  • Ford: Lower oil prices unlikely to slow green cars Thursday, 20 Nov 2014 | 5:08 AM ET

    Bill Ford, the great-grandson of company founder Henry Ford, said the Dearborn, Michigan automaker will continue to promote green technology. Ford was speaking to a select group of media in the United Arab Emirates on Wednesday, where the company recently established a business unit to serve the Middle East and Africa. On Wednesday the company held the Middle...

  • DUBAI, Nov 19- Ford Motor Co's drive to make its sport utility vehicles and other models lighter to save fuel and boost performance will not be delayed by a recent drop in oil prices, Executive Chairman Bill Ford said on Wednesday. Ford is in the United Arab Emirates to celebrate the 50th anniversary of the iconic Mustang sports car, which was cut in six pieces and...

  • DUBAI, Nov 19- New aircraft and fresh routes will help Dubai's flagship carrier Emirates grow profit by no less than eight to ten percent in coming months, its president said on Wednesday. "We will continue to grow at a percentage which is never going to be less than about 8-10 percent, and that's a conservative figure," Tim Clark said on the sidelines of an aviation...

  • JOHANNESBURG/ DUBAI, Nov 19- Bharti Airtel's planned disposal of mobile phone towers in Africa will see it sell masts in Tanzania to Helios Towers, while units in Malawi will go to Eaton Towers, a person with knowledge of the deal said on Wednesday. The Tanzania sale will include about 1,000 towers, said the source, who declined to be identified because the deal has...

  • DUBAI, Nov 18- The Middle East's private equity market is trying to put its Wild West days behind it, drawing big international players for the first time since investors lost heavily when the global financial crisis hit the region. While most of the interest is focused on the stable Gulf Arab states, Western investors are still seeking risk premiums over markets...

  • Amnesty: UAE in unprecedented clampdown on dissent Tuesday, 18 Nov 2014 | 7:07 AM ET

    DUBAI, United Arab Emirates— The United Arab Emirates has quietly mounted "an unprecedented clampdown on dissent" since 2011, with more than 100 political activists jailed or prosecuted for calling for political reforms, leading human rights group Amnesty International said in a report released Tuesday. The UAE, home to Abu Dhabi and Dubai, is ruled by families,...

  • COLUMN-OPEC's options (none of them good): Kemp Monday, 17 Nov 2014 | 10:38 AM ET

    OPEC must decide whether and how to respond to the 30 percent decline in oil prices since the middle of June, in what may be the organization's toughest test in five years. Slower oil demand growth and rising competition from non- OPEC suppliers, especially U.S. shale producers, pose a common threat to all the organization's members. Saudi Arabia, Kuwait and the...

  • BRUSSELS, Nov 14- Etihad Airways secured European Union approval on Friday to acquire 49 percent of loss-making Italian airline Alitalia, the latest in a series of acquisitions made by the Abu Dhabi- based airline to expand its network around the world. For Etihad, which already has minority stakes in Air Berlin, Aer Lingus, Virgin Australia, Air Serbia and...

  • A tit for tat round of sanctions between the United States and Europe and Moscow over Russia's involvement in eastern Ukraine has seen capital raising by Russian companies forced to a virtual halt. But now sanctions prohibit Western investment banks from helping Russian companies deemed to be complicit in the Kremlin's Ukraine policy to raise capital and...

  • Airlines mine customer data in marketing drive Thursday, 13 Nov 2014 | 11:57 AM ET

    "The airlines know so much more about individual customers, it's such an exciting opportunity," Michael O'Leary, the chief executive of low-cost carrier Ryanair, said at a travel conference in Berlin. Lufthansa, meanwhile, is investing in an innovation hub in Berlin. He said Ryanair wanted to use information it has on how often people travel, where to and who with, to...

  • Emirates restarts flights to Iraqi city of Irbil Thursday, 13 Nov 2014 | 8:09 AM ET

    DUBAI, United Arab Emirates— The Mideast's biggest airline, Emirates, says it will resume flights from Dubai to the Iraqi Kurdish regional capital of Irbil after halting them following advances by the Islamic State group. It stopped Irbil flights in August for what it called "operational reasons," though it continued flying to Baghdad and the southern city of...

  • ABU DHABI, Nov 13- Market expectations that U.S. interest rates will start to lift off sometime in mid-2015 are reasonable, New York Federal Reserve President William Dudley said on Thursday. Dudley, answering questions at a luncheon hosted by the United Arab Emirates central bank in Abu Dhabi, also said recent U.S. non-farm payrolls data had been very consistent...

  • ABU DHABI, Nov 13- Market expectations that U.S. interest rates will start to lift off sometime in mid-2015 are reasonable, New York Federal Reserve President William Dudley said on Thursday. Dudley, answering questions at a luncheon hosted by the United Arab Emirates central bank in Abu Dhabi, also said recent U.S. non-farm payroll data had been very consistent...

  • Dubai port firm to buy free-zone company for $2.6B Thursday, 13 Nov 2014 | 4:18 AM ET

    DUBAI, United Arab Emirates— Port operator DP World said on Thursday it has reached a deal to buy the Dubai government-linked operator of free-trade zones in the Middle Eastern commercial hub for $2.6 billion. EZW's main business is running the 57 square kilometer commercial and logistics park next to Jebel Ali, the Mideast's busiest port, which DP World...

  • ABU DHABI, Nov 13- Hiking interest rates too early poses "considerably greater" risks for the Federal Reserve than moving too late, an influential Fed official said on Thursday in a strong defense of the U.S. central bank's patient approach to tightening policy. As the central bank approaches its first rate rise in nearly a decade, expected some time next year,...

  • *Russia involved in nuclear construction deals with Iran. Deputy Foreign Minister Sergei Ryabkov said Russia, which agreed on Tuesday to build up to eight new nuclear reactor units in Iran, was doing all it could to help secure the agrement which would provide assurances to the West that Tehran's programme was not intended to build weapons.

  • Dubai woos commuters with first tram line Wednesday, 12 Nov 2014 | 5:38 AM ET

    DUBAI, United Arab Emirates— The Mideast commercial hub of Dubai opened its first tram line on Wednesday, enticing would-be riders with air-conditioned platforms and a premium section on its sleek cars for those willing to spend a few more dirhams. Like many Dubai projects, it debuted several years behind schedule. Dubai authorities are eager to promote public...

  • DUBAI, Nov 12- The impact of the Ebola outbreak, regional conflict and an uncertain global economic outlook will remain a drag on the airline industry, Dubai's flagship carrier Emirates said on Wednesday after reporting higher first-half net profit. The world's fourth-largest carrier of international passengers posted a profit of 1.9 billion dirhams for...