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United Arab Emirates

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  • ABU DHABI, Dec 21- One of the biggest reasons for the slide of oil prices is the "irresponsible" supply from producers outside OPEC, the United Arab Emirates oil minister said in a speech on Sunday. One of the big reasons is the irresponsible production of some producers from outside OPEC. " Mazroui also said the recent decision of OPEC not to cut its production was...

  • *Dubai stock market downturn evokes 2008 crash. *Stronger global economy due to cheap oil could help Dubai. So oil's current slide is being watched closely in Dubai.

  • Abu Dhabi's Etihad gets A380, complete with suite Thursday, 18 Dec 2014 | 12:17 PM ET

    ABU DHABI, United Arab Emirates— Abu Dhabi's national carrier, Etihad, showcased on Thursday the arrival of its first Airbus A380, outfitted with "the only three-room suite in the sky." The A380 is the first of a fleet of 10 on order from Etihad Airways, which is to take delivery of four more of the double-decker jets next year. The airline also showcased Thursday its...

  • Aer Lingus rejects bid by British Airways parent Thursday, 18 Dec 2014 | 11:24 AM ET

    DUBLIN— Irish airline Aer Lingus has rejected a takeover bid by the International Consolidated Airlines Group, the parent company of British Airways and Spain's Iberia. Those gains were sharply pared after IAG issued a statement confirming its proposal had been rejected by the Aer Lingus board, but the stock still finished Dublin trading up 9 percent at a...

  • MIDEAST STOCKS-Gulf markets surge on stronger oil Thursday, 18 Dec 2014 | 8:25 AM ET

    *Saudi Arabia's finance minister says state to keep spending. *UAE companies buy back cheap shares. DUBAI, Dec 18- Stock markets in Saudi Arabia and the United Arab Emirates soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development.

  • Gulf stocks gain with Dubai closing 13 percent up Thursday, 18 Dec 2014 | 7:52 AM ET

    DUBAI, United Arab Emirates— Gulf equity markets made massive gains Thursday with Dubai's main stock market rising 13 percent, just two days after closing at its lowest point of the year. Arabtec, Dubai's largest construction company, and Emaar, the developer behind the world's tallest tower in the United Arab Emirates, gained 15 percent Thursday on the Dubai...

  • LONDON, Dec 18- Emerging shares rose for a second straight day on Thursday while most currencies strengthened, lifted by the Federal Reserve's show of confidence in the U.S. economy, though Russia's rouble eased after two days of gains. Bourses in oil exporters Saudi Arabia and the United Arab Emirates bounced back strongly after dramatic falls earlier in the...

  • The United States' commercial ties with Cuba were broken 54 years ago after Fidel Castro took over. Now U.S.- Cuba trade is poised to resume: President Barack Obama on Wednesday announced plans to re-establish diplomat relations with Havana, and economic ties are expected to follow. Gary Hufbauer and Barbara Kotschwar of the Peterson Institute for...

  • MILAN, Dec 17- Italy's top administrative court has given Emirates permission to continue operating direct flights between Milan Malpensa airport and New York, rejecting a request by rival airlines to stop the flights. An Italian court had initially backed their case and barred Emirates from flying on the New York- Milan route. Emirates is a direct competitor...

  • *Lenders lift markets in Qatar, Abu Dhabi. DUBAI, Dec 17- Most Gulf stock markets regained strength on Wednesday as oil's slide paused, with blue chip banks pushing Abu Dhabi up sharply and Saudi Arabia's bourse jumping after the kingdom's finance minister said the government would continue spending heavily. Brent crude held below $60 a barrel on Wednesday, at...

  • Gulf sell-off fuelled by credit, lax regulation Wednesday, 17 Dec 2014 | 7:18 AM ET

    The stock markets of the Gulf were among the best performers in the world earlier this year, but panicked selling in recent weeks has wiped out all the year's gains in Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. The UAE authorities have noted the negative impact, with a senior central bank official saying on Dec. 9 it was studying proposals for new rules...

  • Gulf sell-off fueled by credit, lax regulation Wednesday, 17 Dec 2014 | 7:18 AM ET

    The stock markets of the Gulf were among the best performers in the world earlier this year, but panicked selling in recent weeks has wiped out all the year's gains in Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. The UAE authorities have noted the negative impact, with a senior central bank official saying on Dec. 9 it was studying proposals for new rules...

  • LONDON, Dec 17- The rouble's opening bounce fizzled on Wednesday as the currency shrugged off the latest hard currency sales against a backdrop of general bearishness on Russia and mounting pressure across emerging markets. Central banks from Brazil to Indonesia have stepped in this week to curb losses in their currencies which have sold off versus the...

  • Britain's message for UAE visit: Nice, not naughty Wednesday, 17 Dec 2014 | 5:06 AM ET

    DUBAI, United Arab Emirates— Britain wants to make sure its citizens are more nice than naughty while soaking up the Persian Gulf sun this holiday season. A social media campaign by British Embassy staff in the United Arab Emirates running this week is a play on the classic poem "' Twas the Night Before Christmas," and includes travel advice aimed at keeping...

  • *Panic returns; UAE minister tries to reassure investors. *UAE markets hit 1- year lows, Oman at 2-1/ 2- year low. DUBAI, Dec 16- A fresh wave of panic selling wiped out $49 billion of stock market value across the Gulf Arab economies on Tuesday as the price of Brent crude oil dropped below $60 a barrel for the first time since 2009..

  • DUBAI, Dec 16- The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, an International Monetary Fund official said on Tuesday, as a plunge in regional stock markets showed some local investors were panicking. If those levels persist next year, the six rich nations of the Gulf Cooperation Council will face the most dramatic...

  • LONDON, Dec 16- Russia's failed defense of the rouble and a plummeting oil price added to a global emerging markets rout on Tuesday that sent bourses lower in Asia, the Middle East and Europe. The MSCI emerging stocks index traded 1.6 percent lower, on track for an eighth day in the red while the Asia excluding Japan benchmark dropped 0.7 percent.

  • GLOBAL MARKETS-Scramble for safety as rouble, oil sink Tuesday, 16 Dec 2014 | 8:05 AM ET

    *Moscow stock markets plunge, help drag Europe lower. LONDON, Dec 16- Oil's plunge below $60 and the failure of Russia's huge emergency rate hike to stabilize the rouble jolted global markets on Tuesday, adding to a growing sense of crisis and a volatile end to 2014.. After a bumper few years driven by huge amounts of cash pumped into the financial sector by the...

  • Dubai and Abu Dhabi stocks close at lowest of year Tuesday, 16 Dec 2014 | 6:02 AM ET

    DUBAI, United Arab Emirates— Dubai's main stock market and Abu Dhabi's index closed on Tuesday at their lowest points of the year amid mounting anxiety over plunging oil prices. Dubai's stock market lost 7.3 percent on the day, while Abu Dhabi's slid 6.9 percent. Arabtec, Dubai's largest construction company, and Dubai Investments, a major investment company...

  • Asian stocks mixed after Wall Street slide Tuesday, 16 Dec 2014 | 4:01 AM ET

    The ruble, under pressure from falling oil prices and Western sanctions over Moscow's conflict with Ukraine, had fallen as much as 20 percent before recovering. Benchmark U.S. crude rose 2 cents to close at $55.93 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.20 to close at $59.86 in London.