United Arab Emirates
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As American defense companies prepare to feel the ill effects of the sequester on their bottom lines, the companies are increasingly looking to court new customers abroad.
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*Raises demand for OPEC crude forecast by 90,000 bpd. *OPEC sees downside risk to 2013 oil demand growth. LONDON, May 10- OPEC will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year, signs of a stronger market that argue against any calls for supply restraint when the group meets on May 31.
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NEW YORK/ BOSTON, May 9- In one of the biggest ever bank heists, a global cyber crime ring stole $45 million from two Middle Eastern banks by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries, U.S. prosecutors said on Thursday.
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The cell hacked into credit card processors to steal MasterCard debit card data, which it used to make about 36,000 transactions over 10 hours, the Justice Department said.
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NEW YORK, May 9- The U.S. charged eight individuals with stealing debit card data from two Middle Eastern banks in a scheme that prosecutors said netted them $45 million in a matter of hours.
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LONDON, May 9- U.S. solar module maker and project developer First Solar illustrates wider industry efforts to secure new markets in a shift away from the United States and Europe.
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*Iran offers production sharing contracts. DUBAI/ DELHI, May 9- Iran has offered new, more alluring terms to reluctant Indian companies to win the investment it craves for its decaying energy sector suffering from tight Western sanctions.
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DUBAI, May 9- Sri Lanka will allow foreigners full ownership of businesses if they invest more than $10 million, a minister said, and the measure will likely be introduced within two months. Sri Lanka achieved only half of its FDI target of $2 billion last year, and has lowered its target to $1.5 billion in 2013..
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*Dubai Group says expects to sign debt deal in weeks. DUBAI, May 9- The Dubai Group investment firm said on Thursday it expected a $10- billion restructuring of its debt within weeks, sealing the Gulf emirate's recovery from a financial crisis that brought it to the brink of default.
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LAUNCESTON, Australia, May 9- Asia's refiners are likely to get some short-term relief on diesel and gasoline profits as exports dip from China, South Korea and India.
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DUBAI, May 9- Dubai Group will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, the chief executive of parent Dubai Holding said in an interview on Thursday.
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A New York- based group hacked into credit card processors' computers to steal Mastercard Inc debit card data, which they used to make approximately 36,000 transactions over a total of 10 hours in 24 countries, the Justice Department said.
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*Last big debt restructuring related to Dubai's crisis. DUBAI, May 8- Dubai Group, an investment vehicle owned by the emirate's ruler, aims to secure a final agreement with creditors on its $10 billion debt restructuring by June 6, potentially ending marathon negotiations that have dragged on nearly three years.
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*Tehran skyline transformed by construction boom. May 8- The Iranian property developer leant back in his chair, drew hard on a shisha pipe and looked down at photographs of a Tehran apartment block on his tablet computer.
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*Markets confident Dubai can meet 2014-2016 payments. DUBAI, May 8- Dubai may use a wide range of strategies, from asset sales to increased bond issues and continued support from Abu Dhabi, to get through a looming period of debt repayments- but it may cause its bankers a few sleepless nights on the way.
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*Abu Dhabi zone may compete with Dubai in all areas. ABU DHABI/ DUBAI, May 8- For a decade, Dubai has prospered as the Middle East's top financial centre, handling tens of billions of dollars of oil wealth.
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LONDON, May 8- Morocco is set to pay more for its solar power than far richer countries such as Germany and should switch tack to cheaper solar technologies that can compete better with wind, oil and coal.
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ABU DHABI, May 8- The United Arab Emirates, a major financial hub in the Middle East, has revoked the licences of two money exchange companies for non-compliance with regulations including rules against money laundering, the central bank said on Wednesday. The companies were identified as Al Hilal Exchange and Asia Exchange Centre.
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TOKYO, May 8- U.S. crude futures extended declines toward $95 a barrel on Wednesday, as the market awaited the release of Chinese trade data later in the day, which is expected to show crude oil imports in April hovered around March levels. was down 21 cents at $95.41 a barrel by 2346 GMT, after settling down 54 cents at $95.62 on Tuesday.
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DUBAI, May 7- JPMorgan Chase Inc confirmed on Tuesday that its top banker for Saudi Arabia, Abdulaziz Al Helaissi, is leaving to take a position with Saudi Arabia's central bank.
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LONDON, May 7- Generali's private bank BSI attracted bids below its estimated 2.3 billion Swiss francs book value, four people familiar with the situation said on Tuesday.