Dubai's multi-billion dollar building projects are back, five years on from the property bust that left countless building unfinished. CNBC's Hadley Gamble reports.» Read More
LONDON, Feb 20- The oil industry hopes Norway will bring plenty of new oil onstream to help fix the Brent benchmark as other solutions- such as adding Russian or Nigerian crude to the North Sea mix- pose too many risks, executives and traders said.
BRUSSELS/ WASHINGTON, Feb 20- U.S. airlines have stepped up the pressure on EU countries not to impose fines for alleged breaches of emissions rules in the latest twist to an international row over aircraft pollution.
*Abu Dhabi property market recovery as fast as Dubai's. ABU DHABI, Feb 19- For years, Abu Dhabi's real estate market has paled next to its more dynamic, glamorous rival in neighbouring Dubai. Prime residential sale prices in Abu Dhabi jumped 25 percent and rentals climbed 17 percent in 2013, real estate advisory firm Jones Lang LaSalle estimated.
DUBAI, Feb 19- Dubai has reached agreement on rolling over $10 billion in debt extended by the central bank of the United Arab Emirates during the global financial crisis, sources familiar with the matter told Reuters on Wednesday.
DUBAI, Feb 19- Dubai has reached agreement on rolling over $10 billion in debt extended by the central bank of the United Arab Emirates during the global financial crisis, two sources familiar with the matter told Reuters on Wednesday. It helped Dubai and its state-linked companies avoid default during the crisis, when the emirate's real estate market crashed.
DUBAI, Feb 19- When Dubai's biggest property developer decided to change its chief executive last year, it did not inform the stock market for weeks. Index compilers MSCI and S&P Dow Jones are upgrading the United Arab Emirates and Qatar to emerging market status.
*Heavy restocking seen in China, some gold scrap seen. LONDON, Feb 18- Net gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand but that disinvestment is tailing off this year, the World Gold Council said on Tuesday.
*Gold demand hit 4- year low as investors sold holdings. *Heavy restocking seen in China, some gold scrap seen.
NAIROBI, Feb 14- A resignation letter by Somalia's central bank governor sent from Dubai has thrown Western donors into a quandary over supporting a government they need to fight al Qaeda's local allies.
Feb 13- Beverage cans maker Rexam Plc said it bought a 51 percent stake in Saudi Arabia's United Arab Can Manufacturing Ltd, a supplier to The Coca-Cola Co, for $122 million as part of its strategy to expand in emerging markets.
SINGAPORE, Feb 12- Airbus said on Wednesday that Amedeo, formerly called Doric Lease Corp, had signed a firm order for 20 A380s worth $8.3 billion at list prices. Amedeo and Airbus officials signed the final agreement for the order at the Singapore Airshow, Asia's largest aerospace event.
SINGAPORE, Feb 12- Singapore's ambitious plans for an international commercial court are set to expand upon its success in arbitration, helping it siphon away more legal business from rivals like London and Hong Kong.
Barclays to cut 12,000 jobs, pays bigger bonuses. LONDON- Barclays says it will axe up to 12,000 jobs this year even as it raises bonuses for investment bankers, prompting fury among politicians and unions who say it has not learned the lessons of the financial crisis.
SINGAPORE, Feb 11- Airbus is putting the finishing touches on an order worth up to $8 billion for A380 superjumbos from Doric Lease Corp, sources close to the deal said on Tuesday.
"The UAE will try to deliver its government services through drones. Coloured white and enblazoned with the UAE flag, it is propelled by four rotors. Gergawi said the drones would be tested for durability and efficiency in Dubai for six months, before being introduced across the UAE within a year.
*AirAsia and Lion Air in race to order fuel efficient planes. SINGAPORE, Feb 9- Low-cost carriers are flying high in Southeast Asia on the back of sharp growth in air travel, but as hundreds of new jets swarm into the region concerns are rising about its ability to absorb the record numbers of planes on order.
*Zambia says land-lease terms will protect local people. Undeterred, governments of countries including Zambia and Ghana argue that everyone can benefit from such investment provided it is properly regulated. "We are here because we want to interest some of these investors to come and invest in Zambia.
FRANKFURT/ MILAN, Feb 6- A potential deal to buy a stake in troubled Italian airline Alitalia could be the biggest test yet for Abu Dhabi- based Etihad's strategy of using stakes in ailing airlines as an easy way to expand its global footprint.
LAUNCESTON, Australia, Feb 6- Saudi Arabia's decision to cut March oil prices for Asian customers by more than expected appears to be a three-pronged move to maintain market share, boost refining margins and stave off demand destruction.
SINGAPORE, Feb 6- Gold held on to small overnight gains on Thursday as global equities remained volatile amid lower risk appetite and concerns over economic growth. *Spot gold was little changed at $1,257.56 an ounce by 0025 GMT, after posting a 0.2 percent gain in the previous session.