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United Arab Emirates

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  • Saudi bourse opening may double fund flows to Gulf Wednesday, 23 Jul 2014 | 11:42 AM ET

    *Saudi Arabia as big as other Gulf markets combined. DUBAI, July 23- The opening of Saudi Arabia's bourse to international investors may double the amount of foreign money flowing into the Gulf's securities markets, making it more attractive to invest in the region but also bringing new risks.

  • LONDON, July 23- Emerging equities hit new 17- month highs on Wednesday, buoyed by strong post-election gains in Indonesia and a rise in Russian stocks after a conciliatory tone from the Kremlin over the downed Malaysian Airlines jet.

  • In international flight, volatile conflicts abound Tuesday, 22 Jul 2014 | 7:06 PM ET

    And in Iraq, the al-Qaida breakaway group that has taken huge swaths of territory seized weapons depots all along the way.

  • UPDATE 2-UAE lender NBAD lifts profit forecast Tuesday, 22 Jul 2014 | 11:14 AM ET

    ABU DHABI, July 22- National Bank of Abu Dhabi raised its 2014 profit forecast as a buoyant economy and a surge in fee-based income helped it to beat second-quarter expectations and rein in projected provisions to cover bad loans. Economists forecast the UAE economy will grow by 4.3 percent this year, boosting demand for banking services.

  • *Saudis expected to follow quota model similar to China. RIYADH/ DUBAI, July 22- Saudi Arabia plans to open its stock market, the Arab world's biggest, to direct investment by foreign financial institutions in the first half of next year, the market regulator said on Tuesday.

  • RIYADH, July 22- Saudi Arabia's cabinet gave permission to the financial regulator to open the Arab World's biggest stock market to direct investment by foreign financial institutions. The opening of the Saudi market, capitalised at about $530 billion, is one of the most keenly awaited economic reforms in the world's biggest oil exporter.

  • *Poste willing to invest up to 40 million euros. ROME/ MILAN, July 21- Poste Italiane will only invest more money in Alitalia if it avoids taking on the airline's past liabilities, three sources close to the matter said on Monday, a condition likely to hamper a rescue deal with Etihad Airways.

  • BERLIN, July 21- Lufthansa, Europe's largest airline by revenue, joined rival Emirates in calling for an airline summit to discuss the industry's response to the downing of an airliner over Ukraine, saying international security protocols should be reviewed.

  • *Gulf banks reducing loan fees, easing terms. *Eager to deploy cash supplies amid high oil prices. DUBAI, July 21- Cash-rich Gulf banks are grabbing a growing share of the region's loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending.

  • The increasingly deadly conflict between Israel and Gaza- based militants, fighting in eastern Ukraine and new sanctions on Russia over its perceived role in the Ukraine crisis were capping further advances in global equities, with MSCI's emerging index half percent off recent 16- month highs.

  • PARIS, July 20- The head of one of the world's largest airlines has called for an international meeting of carriers to agree a response to the downing of a Malaysian airliner, including a potential rethink of the threats posed by regional conflicts.

  • Why airlines didn't avoid risky Ukraine airspace Friday, 18 Jul 2014 | 3:02 AM ET

    The possibility that the civilian jetliner downed over war-torn eastern Ukraine with nearly 300 people onboard was hit by a missile could have profound consequences for the world's airlines. In the hours after Thursday's disaster involving a Malaysia Airlines jet, carriers around the globe began rerouting flights to avoid Ukraine.

  • SYDNEY, July 18- Australia's Qantas Airways, Korea Air Lines Co Ltd and Asiana Airlines Inc said on Friday they shifted flights operating over Ukrainian air space months ago amid increasing tensions between Kiev and pro- Moscow rebels.

  • FACTBOX-Top 5 deadliest attacks on commercial airliners Thursday, 17 Jul 2014 | 4:48 PM ET

    LONDON, July 17- A Malaysian airliner was brought down over eastern Ukraine on Thursday, killing all 295 people aboard and sharply raising the stakes in a conflict between Kiev and pro- Moscow rebels in which Russia and the West back opposing sides.

  • Arabtec shares suspended on Dubai Financial Market Thursday, 17 Jul 2014 | 7:48 AM ET

    DUBAI, United Arab Emirates— The Dubai Financial Market on Thursday suspended trading shares of the emirate's largest construction company, Arabtec Holding, after rumors swirled that the firm's biggest shareholder was in talks to sell off a large portion of its stake.

  • Wizz Air to keep growing as east Europeans fly more Thursday, 17 Jul 2014 | 2:30 AM ET

    *Wizz Air has grown to be biggest low-cost carrier in eastern Europe. Organic expansion in the region and as far afield as Moscow, Tel-Aviv or Dubai is set to continue while a new phase of growth is likely to come from Wizz Air exploiting the difficulties of state-backed regional airlines that are struggling to survive.

  • Business Highlights Wednesday, 16 Jul 2014 | 5:50 PM ET

    Rejected Fox bid for Time Warner shows growth mood. NEW YORK— In a move that aims to counter consolidation among TV distributors, Rupert Murdoch's Fox has made an unsolicited takeover offer for rival media giant Time Warner for about $76 billion in cash and stock.

  • CAIRO, July 16- Western consultants helping Egypt compile an economic reform plan say it needs at least $60 billion of investment to reach average GDP growth of 5 percent by 2018 and the same amount again to bolster its foreign reserves, senior officials said.

  • *UAE and Qatar recently upgraded to emerging market status. LONDON, July 16- Despite their recent upgrade to the more mainstream emerging market league, United Arab Emirates and Qatar are considered risky enough by many investors that they still treat them like frontier markets.

  • UAE plans first Arab spaceship to Mars in 7 years Wednesday, 16 Jul 2014 | 7:49 AM ET

    The ruler of the UAE's emirate of Dubai, Sheik Mohammed bin Rashid Al Maktoum, said the mission will prove the Arab world is still capable of delivering scientific contributions to humanity, despite the many conflicts across the Middle East.