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United Arab Emirates

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  • However, South Africa's rand, Turkey's lira and the Brazilian real all eased against the greenback ahead of the Fed's policy statement, widely anticipated to lay the ground for the first U.S. interest rate hike in nearly a decade later in the year. In Moscow, both dollar and rouble-denominated shares gained ground while in Israel shares rose 0.6 percent after...

  • WASHINGTON, March 17- The Obama administration has asked U.S. airlines for more information on their claims that Gulf carriers have received market-distorting subsidies, marking its first written response to U.S. airlines' lobbying effort, Reuters has learned. Leaders in the U.S. House Committee on Transportation and Infrastructure have recently called on...

  • A report released by the U.S. Transportation Department Office of Inspector General found that the FAA lacks the training and guidance necessary to enforce Bush-era regulations that allow carriers to disclose hazardous material violations voluntarily, without incurring civil penalties. In 65 percent of hazardous material cases, OIG investigators...

  • WASHINGTON, March 17- Top executives of U.S. airlines and their Middle East competitors clashed in Washington on Tuesday over whether "open skies" deals are fair, and each side ramped up efforts to sway U.S. regulators at a high-profile forum. A coalition of Delta Air Lines Inc, United Continental Holdings Inc, American Airlines Group Inc and their labor unions...

  • Chanel plans price hikes in Europe, cuts in China Tuesday, 17 Mar 2015 | 11:33 AM ET

    PARIS, March 17- French fashion house Chanel said it plans to hike prices in Europe and cut them in Asia to counter the decline of the euro and discourage customers from buying fakes. The price of the 11.12 and 2.55 models will rise to 4,260 euros in April from 3,550 euros in Europe, while the cost of the Boy bag is set to rise to 3,720 euros from 3,100 euros, Chanel said.

  • DUBAI, United Arab Emirates— An American helicopter mechanic whose Facebook post complaining about his employer in the United Arab Emirates got him arrested said Tuesday he has been told the company is seeking to dismiss the charges against him. Ryan Pate, 30, appeared in an Abu Dhabi court Tuesday to present his defense on charges he defamed his Emirati...

  • *Andorra says banking system under stress. MADRID, March 16- State-appointed managers at Andorra's Banca Privada d' Andorra have capped cash withdrawals in an attempt to contain the damage from U.S. allegations the bank laundered money for international criminal gangs. Andorra took control of the bank after the U.S. Department of the Treasury described it last...

  • Dubai- based Emirates Airline will present its response this week in Washington to a dossier compiled by a group of U.S. airlines alleging that Emirates, Etihad Airways and Qatar Airways had received more than $40 billion in state subsidies, giving them an unfair advantage. Delta Air Lines Inc, United and American Airlines have asked the White House to look into...

  • *Andorra says banking system under stress. *Andorra moves to halt withdrawals from tarnished bank, BPA. MADRID, March 16- Andorran authorities have given government-appointed managers at Banca Privada d' Andorra the authority to stop fund withdrawals as the lender battles U.S. allegations it laundered money for international criminal gangs.

  • Egypt basks in world support at investor conference Sunday, 15 Mar 2015 | 5:08 AM ET

    SHARM EL-SHEIKH, Egypt— Egypt's president claimed broad support from the international community for his vision of the future on Sunday, in a boisterous speech to an investor conference that saw billions pledged to boost an economy left battered by four years of turmoil following a popular uprising. A jubilant Abdel-Fattah el-Sissi acknowledged Egypt's...

  • DUBAI, United Arab Emirates— Now that's a real bird's eye view. A conservation group offered it Saturday by attaching a small video camera to the back of Darshan, an eagle who took off from the top of Dubai's Burj Khalifa, the world's tallest tower. Darshan flew some 830 meters, offering a breathtaking view of the commercial capital of the United Arab Emirates.

  • SHARM EL-SHEIKH, Egypt— Egypt raked in promises of more than $12 billion in investment and aid from its Gulf Arab allies on Friday, kicking off an international conference aimed at rescuing the country's gutted economy and giving a political boost to its soldier-turned-president. The three-day gathering in the Sinai resort of Sharm el-Sheikh is meant to show...

  • LONDON/ DUBAI, March 12- Saudi Aramco, the kingdom's state oil giant, is close to completing a $10 billion tightly-priced loan, banking sources said on Thursday, part of which could be used to back the purchase of a stake in German synthetic rubber firm Lanxess. The cash replaces an existing $4 billion five-year loan due to mature later this year which Aramco, the...

  • *Gulf has biggest contingent at Egypt investment summit. DOHA/ ABU DHABI/ KHOBAR, Saudi Arabia, March 12- G ulf Arab governments are encouraging- and in some cases pressuring- hundreds of companies to attend an international investment summit in Egypt this week, in a move that may help the firms become top players in a rebounding Egyptian economy.

  • *Egypt is world's top wheat importer. CAIRO, March 12- Egypt's currency market reforms are inflicting a heavy toll on many private sector wheat traders struggling to secure shipments for the world's largest wheat importer. Egypt imports over 10 million tonnes of wheat annually, mostly by the state.

  • RIYADH, March 10- Saudi Arabia's King Salman said he would fight corruption, diversify the economy and confront anybody who challenged the stability of the world's top oil exporter in his first big speech since taking power on Jan. 23. Addressing the chaos threatening the kingdom from around the region, he said no one would be allowed to tamper with Saudi Arabia's...

  • LONDON, March 10- The world's two biggest oil firms, Exxon Mobil Corp and Royal Dutch Shell, may withstand the oil price collapse better than their rivals because they are closer to finishing expensive investment projects while others must keep spending. Exxon started eight major oil and gas production projects last year in locations ranging from Papua New...

  • LONDON, March 10- The world's two biggest oil firms, Exxon Mobil Corp and Royal Dutch Shell, may withstand the oil price collapse better than their rivals because they are closer to finishing expensive investment projects while others must keep spending. Exxon started eight major oil and gas production projects last year in locations ranging from Papua New...

  • *LDB is Senegal's only processing firm using milk from local herd. RICHARD TOLL, Senegal, March 9- Bagore Bathily was working as a vet to Senegal's pastoralist farmers when he was struck by an absurdity: 3 million cows roam the country but no dairy company processes their milk. Demand for dairy products was growing among Senegal's middle class but consumer choice...

  • ABU DHABI, March 9- The United Arab Emirates' economy minister hit back at criticism of Gulf airlines during a news conference with his German counterpart on Monday, demanding those who accuse them of benefiting from government subsidies provide proof. A dossier compiled by a group of U.S. airlines alleged last month that the UAE's Emirates and Etihad Airways, as...