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United Arab Emirates

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  • MIAMI, June 7- A positive trend in April traffic at Germany's Lufthansa continued in May with new business class and premium economy seats attracting passengers, Chief Executive Carsten Spohr said on Sunday. "When it comes to safety, Lufthansa has a reputation for safety, which has not been hurt or damaged by this tragic accident," said Spohr, speaking to reporters...

  • *Iran hoping for easing of sanctions. BERLIN, June 5- Tohid Tasoujian is a co-founder of online fashion store Taxi Moda and one of a growing breed of Internet entrepreneurs in sanctions-hit Iran. He set out his stall this week at a conference of more than 80 Iranian start-ups in Berlin, the biggest event of its kind outside Iran, as the country gears up for a possible...

  • DUBAI, June 4- The United Arab Emirates is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities. He estimated that at today's oil prices, the UAE could keep spending at current levels for at least 30-40...

  • DUBAI, June 3- JP Morgan's head of equities for the Middle East and North Africa has resigned from the bank and is moving to Egypt's EFG-Hermes Asset Management, sources told Reuters on Wednesday. Sadiq Hussain will remain based in Dubai and his replacement at the U.S. bank should be appointed by the end of June, said one of the sources familiar with the matter,...

  • VIENNA, June 3- OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year's shock market therapy has revived demand and knocked back growing competition. With oil prices having stabilized at around $65 a barrel, some $20 above their January lows, there's little appetite within the Organization of the Petroleum Exporting...

  • DUBAI, June 2- Saudi Arabian family conglomerate Ahmad Hamad Algosaibi and Brothers is offering creditors a minimum return of 28 cents on every dollar owed under an enhanced proposal to end one of the Middle East's largest ever debt restructurings. The group with interests in hospitality, food and real estate among others, collapsed in 2009 along with Saad...

  • The comments by the Abu Dhabi- based carrier mark its latest move to deter the Obama administration from revisiting aviation agreements with the United Arab Emirates and Qatar. U.S. airlines say more than $40 billion in subsidies from the countries have allowed Etihad, Emirates airline and Qatar Airways to begin driving down prices and push competitors out of...

  • The comments by the Abu Dhabi- based carrier mark its latest move to deter the Obama administration from revisiting aviation agreements with the United Arab Emirates and Qatar. U.S. airlines say more than $40 billion in subsidies from the countries have allowed Etihad, Emirates airline and Qatar Airways to begin driving down prices and push competitors out of...

  • June 1- Etihad Airways on Monday issued it strongest rebuttal yet of claims that it received market-distorting subsidies, saying it is required to repay loans and that its U.S. competitors have a "condescending" view of non-U.S. law. The comments by the Abu Dhabi- based carrier mark its latest move to deter the Obama administration from revisiting aviation...

  • ISTANBUL, May 29- ING Group NV, BNP Paribas and Bahrain- based Arab Banking Corp have submitted bids to buy HSBC's Turkish business, a source familiar with the process said on Friday. Four other sources said Dutch lender ING was interested in buying HSBC's Turkish business, comprising corporate and investment banking operations as well as a loss-making retail...

  • DUBAI, May 28- Abu Dhabi's Etihad Airways, one of three Gulf airlines that U.S. rivals say benefit from state subsidies, reported a 52 percent rise in annual profit on higher passenger numbers and increased revenue from cargo and partner airlines. Unlike Dubai- based rival Emirates, Etihad has based part of its expansion on investing in other carriers and owns...

  • NEW DELHI, May 21- India's central bank is working to liberalize its foreign exchange rules to make it easier to do business with Asia's third-largest economy, Deputy Governor H.R. Khan said on Thursday, a step that could support flagging exports. "We have got a positive response from the RBI and it could soon issue directions to banks," said S.C. Ralhan, president of...

  • *Kuwait, Bahrain parliaments probing national funds. Issue of wasting resources becomes more sensitive. DUBAI, May 20- Running sovereign wealth funds in the Gulf has become an awkward business in the era of cheap oil, as their managers face growing pressure from politicians and the public to prove they're investing national reserves wisely.

  • DUBAI, May 20- An $85 million loan taken out by a Ugandan bank this year points to an emerging trend in international capital markets: the rise of the Gulf as a syndicated loan market for Africa and Asia. Stanbic Bank Uganda originally intended to raise $75 million through the 18- month deal in January, but expanded that because of strong interest from banks wanting...

  • *Middle East crude flows to China down over 10 pct since January. BEIJING/ SINGAPORE, May 20- Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records. Reuters pricing and trade flow data show a 40 percent...

  • *Bellwether project seen reviving investment in Mongolia mining. ULAN BATAAR/ MELBOURNE, May 19- Mongolia and Rio Tinto have reached an agreement paving the way for work to resume on a stalled $5 billion underground copper mine that is expected to drive growth for both the country and the global miner. The Oyu Tolgoi project, which started producing from an open...

  • *Baghdad delays oil contract negotiations as prices rally. DUBAI, May 18- BP has cut its development budget for Iraq's giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State was making it difficult to pay oil companies. The British oil major has agreed with Baghdad to reduce its 2015...

  • May 14- Etihad Airways on Thursday answered U.S. airlines' claims that the Abu Dhabi- based carrier benefits from subsidies, alleging that those airlines received more than $70 billion in government support since 2000, largely via bankruptcy protection and pension guarantees. Etihad presented its subsidy claims as the Obama administration is slated to...

  • LONDON, May 14- Singapore- flagged oil products tanker Alpine Eternity has reached the port of Jebel Ali in the United Arab Emirates safely after coming under attack in the Gulf earlier, the vessel's manager said on Thursday. A spokesman for the vessel's Norwegian manager Transpetrol said the vessel was attacked at sea at 0800 GMT on Thursday on its way to the UAE...

  • SINGAPORE FLAGGED OIL PRODUCTS TANKER ALPINE ETERNITY ATTACKED AT SEA, WAS ON WAY TO UAE PORT OF FUJAIRAH- SHIP MANAGER.