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United Arab Emirates

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  • *UAE markets stabilise after sell-off. DUBAI, Jan 27- Saudi Arabia's petrochemicals sector surged on Tuesday after OPEC's secretary-general said oil prices might have bottomed out and warned of a jump to $200 a barrel if investment in new supplies became too low. The main Saudi stock index jumped 2.4 percent in the heaviest trade this month, as shares in...

  • Dubai's airport operator released figures Tuesday showing that 70.5 million passengers streamed through the sparkling halls of Dubai International last year. Dubai Airports CEO Paul Griffiths predicts Dubai International will handle a record 79 million passengers this year as it offers "more flights connecting more people to more destinations."

  • Heathrow hosted 68.1 million international passengers in 2014, up 1.2 percent, a Heathrow spokeswoman said. A commission is due to make final proposals by this summer, choosing between three options: a third runway at Heathrow, an extension to an existing Heathrow runway, or a second runway at Gatwick Airport. But lack of capacity at Heathrow means we have...

  • DUBAI, United Arab Emirates— Several airlines suspended flights to Baghdad on Tuesday after a passenger plane arriving from the Mideast's busiest airport in Dubai came under fire as it landed in the Iraqi capital. All passengers were able to disembark normally and none required medical attention at the airport, the Dubai government-owned carrier said.

  • Turkish Airlines and Airbus declined to comment. A senior executive at the airline said last week it was considering expanding its fleet and was studying a list of Airbus and Boeing models including the A380. Fast-growing Turkish Airlines has long been on Airbus's target list as a potential customer for the aircraft.

  • *Abu Dhabi Islamic Bank plunges after Q4 results disappoint. DUBAI, Jan 26- Saudi Arabia's stock market rose on Monday as it traded for the first time since King Salman succeeded his brother Abdullah, who died on Friday. After swiftly assuming power, King Salman pledged continuity in energy and foreign policies and appointed younger men as his heirs, appearing to...

  • *European Central Bank easing boosts global emerging markets. *Abu Dhabi's FGB jumps ahead of Q4 results. DUBAI, Jan 25- Stock markets in the United Arab Emirates and Qatar were mixed in low-volume trade on Sunday as most countries in the Middle East closed their bourses following the death of Saudi Arabia's King Abdullah.

  • Every January, Dubai is decked out in lights, banners and roadside ornaments heralding the event. Dubai, one of seven federal states in the United Arab Emirates, has far smaller oil reserves than the capital Abu Dhabi, and its economy relies heavily on retail, tourism and international trade. Russian travel operators in Dubai reported a sharp drop in the number of...

  • *King Salman faces biggest economic challenge since global crisis. Saudi Arabia can no longer throw money at problems in same way. King Salman, who took the throne in the early hours of Friday after the death of his brother King Abdullah, inherits an economy that faces its biggest challenge since the global financial crisis in 2009..

  • By appointing his youngest half-brother Muqrin, 69, as Crown Prince and nephew Mohammed bin Nayef, 55, as Deputy Crown Prince, Salman has swiftly quelled speculation about internal palace rifts at a moment of great regional turmoil. Salman, thought to be 79, takes over as the ultimate authority in a country that faces long-term domestic challenges compounded...

  • RIYADH, Jan 23- Saudi Arabia's new King Salman appointed a grandson of the founding monarch into the line of succession for the first time on Friday, moving fast after the death of King Abdullah to quell fears of dynastic instability at a time of regional turmoil. Mohammed bin Nayef becomes the first grandson of the kingdom's founding monarch, King Abdulaziz,...

  • *Global Telecom leads gains in Egypt. *UAE Islamic lenders rise after Sharjah Islamic Bank results. DUBAI, Jan 22- Gulf stock markets were mixed on Thursday, coming under pressure from some negative earnings reports but supported by stronger oil, while Egypt established a clear break of major technical resistance.

  • *Saudi Arabia 2015 growth forecast cut to 3.2 pct from 4.3 pct. *Even Oman, Bahrain to sustain solid growth. As a result, Saudi Arabia's hydrocarbon export revenue in 2015 is forecast to tumble to $213 billion, instead of totalling $290 billion as the September survey predicted.

  • VIENNA, Jan 22- Big foreign shareholders in Austrian companies OMV and Telekom Austria could exit agreements with the state following plans by the government to change the way it manages its holdings, a senior official said. Siegfried Wolf, the chairman of state holding company OIAG, made the comments in an interview with magazine News while defending OIAG's...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • *Oil's plunge boosts Egypt's economic prospects. *Global Telecom surges on Djezzy deal report. DUBAI, Jan 21- Low oil prices helped Egypt's stock index hit a 6-1/ 2- year closing high on Wednesday, as bets on property stocks and positive corporate news also buoyed sentiment.

  • DUBAI, Jan 21- Dubai developer Nakheel expects to maintain profit growth of 40 percent seen last year in 2015 and 2016, its chairman said on Wednesday, as it benefits from diversifying into the retail and hospitality sectors. The positive outlook from Ali Rashid Lootah came after the state-owned company reported a 43.2 percent jump in full-year profit for 2014...

  • Airbus-backed Islamic leasing fund signs maiden deal Wednesday, 21 Jan 2015 | 4:37 AM ET

    Based on list prices, the deal for the nine planes is worth approximately $2 billion, according to Dubai- based International Airfinance Corporation, which manages the fund. "We see demand for the A320 and A330 families, and potentially later on the A350," said Ghodbane, adding that the fund would consider deals for Airbus's largest jet, the A380, for longer lease...

  • Alitalia's new strategy envisions new routes from Rome to Dusseldorf, San Francisco, Beijing, Santiago, Chile, among other cities, and extra flights to New York, Chicago, Rio de Janeiro and Abu Dhabi, Etihad's hub. Strategy focuses on three Italian hubs: Milan's Malpensa airport for increased long-haul flights; Milan's Linate for more connections to partner...

  • The amount raised through listings in the second half of 2014 fell 63 percent from the first six months of the year to $3.8 billion, Thomson Reuters data showed. Energy company listings shelved since July include Dubai's oil-rig contractor Shelf Drilling, which was planning to list on the London Stock Exchange, and Samudra Energy, which owns oil and gas...