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United Arab Emirates

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  • RIYADH, Oct 30- Saudi Arabia's National Commercial Bank IPO-NACO.SE> said the retail portion of its 22.5 billion riyal initial share sale had attracted investor interest amounting to more than double the amount on offer. The kingdom's largest bank by assets is selling 15 percent of its stock, priced at 45 riyals per share, to local investors between Oct. 19 and Nov....

  • Reporter's family urges Iran to release him Thursday, 30 Oct 2014 | 10:28 AM ET

    DUBAI, United Arab Emirates— The family of an Iranian-American correspondent for the Washington Post who has been jailed in Iran since July is urging authorities to release him, saying on Thursday that his continued incarceration without charge is a "farce." Jason Rezaian, 38, holds American and Iranian citizenship and has reported from Tehran for the Post...

  • LONDON, Oct 30- Royal Dutch Shell has outpaced peers with a forecast-beating rise in quarterly profit and said it would spend heavily next year on key projects, even as oil majors prepare to weather the full impact of a sharp drop in oil prices. Oil prices have slumped over the past four months by more than 20 percent to a four-year low near $85 a barrel due to slowing...

  • LONDON, Oct 30- Royal Dutch Shell quarterly profit rose by almost a third, beating forecasts and adding to what has been a robust three months for European oil majors, who have yet to feel the full impact of a sharp drop in oil prices. Europe's biggest oil company by market value also said it had appointed former banker Charles Holliday as its chairman.

  • Shell: oil drop yet to have full impact on profits Thursday, 30 Oct 2014 | 3:53 AM ET

    AMSTERDAM— Shell, Europe's largest oil producer, reported a dip in third quarter profit on Thursday, but said it has yet to feel the full impact of the recent slide in oil prices. As the company reported a 4.5 percent dip in third-quarter net profit, to $4.46 billion, Chief Financial Officer Simon Henry warned that the period's figures reflect only a third of the oil...

  • HONG KONG, Oct 30- Even as China quickly expands the use of its currency to financial hubs in Asia and Europe this year, bankers are already looking to Canada and Middle East as the next growing regions for their offshore yuan buinsess. "There is big potential in the Middle East and Canada in terms of where's next for offshore yuan development, and the needs there are...

  • HONG KONG, Oct 30- Even as China quickly expands the use of its currency to financial hubs in Asia and Europe this year, bankers are already looking to Canada and Middle East as the next growing regions for their offshore yuan buinsess. "There is big potential in the Middle East and Canada in terms of where's next for offshore yuan development, and the needs there are...

  • PARIS, Oct 29- French oil company Total's new chief will visit oil-rich countries to cement links with their leaders after the sudden death of his predecessor and will go ahead with cost cuts after falling oil prices squeezed third-quarter profits. Europe's second-largest oil company elevated former refining head Patrick Pouyanne to the top post following...

  • PARIS, Oct 29- The new head of Total will embark on a tour to meet crucial contacts at oil-rich countries in the next few weeks and will forge ahead with cost cuts in the face of the falling oil prices that squeezed third-quarter profits. Europe's second-largest oil company elevated former refining head Patrick Pouyanne to the CEO position following the sudden...

  • Macy's to head overseas with branch in Abu Dhabi Tuesday, 28 Oct 2014 | 6:35 AM ET

    DUBAI, United Arab Emirates— The Middle East is getting the world's first Macy's department store outside the United States, and just for good measure, its second Bloomingdale's too. Property developer Gulf Related and Dubai- based retail conglomerate Al Tayer Group said on Tuesday that they plan to open both stores in a new shopping center being built in the...

  • *Income from Rosneft falls to $110 mln vs year-earlier $808 mln. LONDON, Oct 28- Oil major BP's third-quarter results took a hit from declining oil prices and a sharp drop in income from Russia as Western sanctions on Moscow led to a slump in earnings from its local partner, Kremlin-controlled Rosneft. Oil companies have seen billions wiped off their stock market...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Oct 28- As counter-intuitive as it sounds, it's possible that some major Asian oil refiners are actually trying to boost the price of crude, at least in the short term. Consider the recent actions of Chinaoil, the trading arm of PetroChina, the state-controlled oil major.

  • CAIRO, Oct 27- From mega-projects to tax reforms, Egyptian ministers presented detailed initiatives last week to revive an economy battered by three years of upheaval and decades of neglect. Quizzed about Egypt's political challenges, however, they had less to say. Marking themselves out from predecessors, the ministers spoke with candour about the enormity...

  • *Kuwait says moving ahead with privatisation programme. *Partial deregulation, financing schemes in Saudi, UAE. DUBAI, Oct 26- Kuwait's privately owned Jazeera Airways is preparing to bid for a big stake in state-run flag carrier Kuwait Airways, Jazeera's chairman told Reuters.

  • DIARY - Emerging Markets Economic Events to Nov 4 Thursday, 23 Oct 2014 | 8:02 PM ET

    Oct 24- For other related diaries, please. COLOMBO- Sri Lankan President and Finance Minister Mahinda Rajapaksa presents 2015 budget in the parliament. SEOUL- South Korea's Central Bank Governor Lee Ju- yeol and Finance Minister Choi Kyung- hwan will appear before lawmakers.

  • *Dubai's retail investors return to the market. *Dana Gas jumps after collecting some cash in Egypt, Iraq. Dubai's index rose 0.6 percent on the back of lenders Emirates NBD and Dubai Islamic Bank, both of which reported strong profit growth and beat analysts' estimates on Wednesday.

  • *Airbus seen aiming for' A380neo' debut 2022-23. BERLIN/ PARIS, Oct 23- The case for developing new engines for a sales-boosting upgrade to Airbus's A380 passenger jet has been called into question by a partner in one of the planemaker's engine suppliers. A lean sales patch has increased pressure on Airbus to bow to the demands of its biggest customer- Dubai's...

  • COLUMN-History of controls on U.S. oil exports: Kemp Thursday, 23 Oct 2014 | 7:21 AM ET

    LONDON, Oct 23- On Oct. 20, 1973, King Faisal of Saudi Arabia imposed a total embargo on oil shipments to the United States among other countries in response to their support for Israel during the Arab-Israeli war. Following the U.S. mid-term elections next month, Congress will take up the issue again, a debate that would benefit from an understanding of the history...

  • *Gulf airlines using Italy as base for expansion. Italy is Europe's fourth largest travel market, one of the world's top tourist destinations and its thriving fashion and leather industry underpin demand for business travel. That is taking passengers away from Germany's Lufthansa, British Airways and Air France-KLM in Europe, and Delta Air Lines and American...

  • Dubai cuts profile as Mideast plastic surgery hub Thursday, 23 Oct 2014 | 3:03 AM ET

    DUBAI, United Arab Emirates— Dubai, the emirate known for its celebration of over-the-top glamour and luxury, is racing ahead to dominate the Middle East's plastic surgery market with plans to attract half a million medical tourists in six years. Where cosmopolitan Beirut was once the region's best known city for going under the knife, turmoil in Syria and...