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United Arab Emirates

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  • MIDEAST STOCKS-Markets rally further on solid Q3 results Wednesday, 22 Oct 2014 | 10:17 AM ET

    *Qatar's Doha Bank disappoints investors. DUBAI, Oct 22- Most stock markets in the Middle East continued to recover from last week's sharp declines on Wednesday thanks to generally strong third-quarter earnings and a supportive global environment. Dubai's bourse rose 2.3 percent, largely on the back of lenders Emirates NBD and Dubai Islamic Bank, both of which...

  • CAIRO, Oct 21- Egypt is seeking billions of dollars in investment to upgrade its telecommunications infrastructure as part of efforts to attract multinationals and restore growth after three years of political upheaval, the telecoms minister said. Atef Helmy said Egypt needs investment of $5- $6 billion to build broadband internet across the nation and some...

  • *Qatar, Saudi Arabia supported by solid Q3 results. DUBAI, Oct 21- Solid corporate earnings and rebounding global equities lifted most stock markets in the Middle East on Tuesday, while Saudi Arabia led the rally after stabilising oil prices provided additional support to its petrochemical stocks. European shares, which have largely set the direction for...

  • BRUSSELS, Oct 21- The European Union imposed sanctions on Tuesday on 12 Syrian government ministers, two senior military figures and a United Arab Emirates company it accused of helping supply oil to Syria. The EU imposed similar sanctions on Colonel Mohammed Bilal, a senior officer in the Air Force Intelligence Service of Syria, and Major-General Ghassan...

  • Deals of the day- Mergers and acquisitions Monday, 20 Oct 2014 | 4:06 PM ET

    **Platform Specialty Products Corp said it would buy Arysta LifeScience Ltd for about $3.51 billion, Platform's third acquisition this year as the company looks to strengthen its agrichemicals business. **The top two lawmakers on the Senate's antitrust panel have urged regulators to scrutinize food distributor Sysco Corp's planned purchase of rival U.S....

  • *UAE, Qatar change direction as Western markets dip. DUBAI, Oct 20- Most Middle Eastern stock markets fell on Monday as a rebound by global equities turned out to be short-lived, but Saudi Arabia's bourse rose after a string of strong quarterly earnings. Stock indexes in the United Arab Emirates and Qatar rose in early trade but quickly gave up all their gains after...

  • Oct 20- IBM Corp said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing and big data analytics. IBM will pay Globalfoundries $1.5 billion in cash over the next three years to take the chip operations off its hands, the companies said in a statement on Monday. IBM took a related pre-tax...

  • EU seeks $1.27 billion in Ebola aid for W. Africa Monday, 20 Oct 2014 | 5:55 AM ET

    LUXEMBOURG— The European Union committed itself Monday to step up efforts toward getting 1 billion euros in aid to fight Ebola in West Africa and rejected the idea of halting direct flights coming from the region. So far, the overall anti-Ebola total for the EU, including EU national contributions, stands at 500 million euros, with Britain contributing 160...

  • *Nutreco, Adidas, Havas surge on M&A activity. The market's losses were limited, however, by brisk M&A activity, boosting the shares of Nutreco, Adidas and Havas. German sportswear firm Adidas AG surged 5.6 percent after the Wall Street Journal reported that an investor group, that includes Jynwel Capital and funds affiliated with the Abu Dhabi government, was...

  • *Kuwaiti banks leaving financial crisis overhang behind. DUBAI, Oct 20- Commercial Bank of Kuwait, the Gulf state's fifth-largest lender by assets, has reached a string of debt settlements with clients that have helped to slash its non-performing loans, the bank's acting chief executive said. This has pressured Kuwait's banking sector over the last several...

  • PARIS, Oct 20- European shares dipped in early trading on Monday as the previous session's sharp rebound lost steam, although takeover activity boosted the shares of Nutreco, Adidas and Havas. Shares in Dutch animal feed and nutrition company Nutreco jumped 38 percent after SHV, a privately-held Dutch investment firm, said it had reached a conditional...

  • BUSINESS-NEWS-SCHEDULE AT 1900 GMT / 3:00 PM ET Sunday, 19 Oct 2014 | 3:01 PM ET

    LONDON- A series of Reuters interviews with officials, bankers and others involved in the European Central Bank's financial inspection of the euro zone's biggest banks show that in the seven months since it began, the ECB has had to shoot down countless pleas from banks and national supervisors for special treatment. STOCKHOLM/ OSLO/ COPENHAGEN- When it comes to...

  • *Dubai's Arabtec surges after promising Egypt deal soon. DUBAI, Oct 19- Most exchanges in the Middle East rebounded on Sunday after global stock markets recovered on Friday from a big sell-off triggered by worries about the impact of weak earnings reports on growth and businesses. Those worries had sent Middle East bourses tumbling, with Dubai's index down 13.6...

  • Rules vary about travel to countries hit by Ebola Friday, 17 Oct 2014 | 4:32 PM ET

    Demands are rising in Washington for the U.S. to ban travelers from countries in West Africa, but the Obama administration is resisting and says the screening measures already in place for travelers are more effective. There are no direct flights from Liberia, Guinea or Sierra Leone to the U.S. No direct flights from the three affected countries to London's...

  • NEW DELHI, Oct 17- Indian refiners will pay $500 million to Iran next week, the second installment in an interim deal that allows Tehran to recover part of overseas frozen oil revenues that are payments for oil it has sold, two industry sources said in Friday. Iran and the United States, China, France, Germany, Britain and Russia agreed in July to extend a six-month...

  • With seizures up, Indian gold smuggling loses its shine Thursday, 16 Oct 2014 | 5:00 PM ET

    MUMBAI, Oct 17- Gold smuggling into India, the world's second-biggest consumer of the precious metal, is becoming more risky for couriers following a surge in seizures and less profitable for the gangs behind the practice. "Gold smuggling was highly profitable.... but now with the drop in premiums and tight security, legal imports are increasing," said Milind...

  • *Saudi Arabia tumbles ahead of National Commercial Bank IPO. DUBAI, Oct 16- Markets across the Middle East tumbled on Thursday as global equities and oil prices continued to decline, while Saudi Arabia's drop was magnified by investors selling to prepare for a $6 billion initial public offer of shares. "Lower oil prices shouldn't cause too many problems for the...

  • *Gulf of Oman port bids to become transhipment centre for region. Instead they can have goods delivered to a port in Oman, outside the Gulf, and bring them into the region by road. The cheeky advertisement has been posted by Sohar Port and Freezone, an ambitious facility on Oman's northern coast about 200 kilometres to the southeast of Dubai.

  • MSCI's emerging equity index slipped 0.9 percent after the previous day's 1 percent fall, sparked by a Wall Street rout and flight to safe-haven bonds after disappointing U.S. data reinforced worries about the global economy. Dubai's stock market fell 2.4 percent while Abu Dhabi's index slipped 2.1 percent and Qatar slid 1.4 percent. While central Europe is...

  • DUBAI, Oct 16- Saudi Arabia's main stock index plunged 5 percent on Thursday amid panic selling by retail investors, dragging down other stock markets in the Gulf. In response, Dubai's index tumbled 4.7 percent and Qatar lost 2.3 percent. Also, a $6 billion initial public offer of shares by state-owned National Commercial Bank, Saudi Arabia's largest lender, is due...