GO
Loading...

Middle East

More

  • *OPEC increases January output to 30.37 bpd- survey. The late-session surge was primed by Baker Hughes data showing the number of rigs drilling for oil in the United States fell by 94- or 7 percent- this week. Brent settled up $3.86 at $52.99 a barrel, after running to as high as $53.08.

  • *OPEC increases January output to 30.37 bpd- survey. NEW YORK, Jan 30- Oil rose on Friday as concerns over fighting in Iraq extended short covering from the previous session, but crude prices were still poised for a seventh month of declines, the longest rout on record. Crude was up in early trading Friday in New York on renewed violence in oil producer Iraq, where...

  • Jan 30- Shares of trendy hamburger chain Shake Shack Inc soared 150 percent in their first few minutes of trading on Friday, valuing the company that grew out of a hotdog cart in New York's Madison Square Park at nearly $2 billion. Shake Shack shares hit $52.49 in early trading on the New York Stock Exchange, way above their offer price of $21, before easing back to $48.

  • Shake Shack sizzles in market debut Friday, 30 Jan 2015 | 10:18 AM ET

    Jan 30- Shares of gourmet hamburger chain Shake Shack Inc soared 150 percent in their first few minutes of trading on Friday, valuing the company that grew out of a hotdog cart in New York's Madison Square Park at nearly $2 billion. Meyer, who also owns popular New York restaurants Blue Smoke, Gramercy Tavern and Union Square Cafe, opened the first Shake Shack in...

  • *OPEC increases Jan. output to 30.37 bpd- Reuters survey. LONDON, Jan 30- Oil fell below $49 a barrel on Friday and was on course for its seventh straight month of declines, the longest such bear run on record as a supply glut showed no signs of easing with OPEC increasing production in January. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since...

  • *Half of the assets on sale are in North America. *North Sea could prove a hard sell. LONDON, Jan 30- With more than $110 billion of oil and gas assets on the block as companies big and small count the cost of the collapse in oil prices, it is now a question of who will blink first to set the M&A scramble in motion.

  • West Bancorp posts 4Q profit Friday, 30 Jan 2015 | 8:51 AM ET

    WEST DES MOINES, Iowa _ West Bancorp Inc. on Friday reported fourth-quarter profit of $5.8 million. West Bancorp shares have dropped roughly 2 percent since the beginning of the year. Keywords: West Bancorp, Earnings Report.

  • Myanmar opens deep sea port for Chinese oil pipeline Friday, 30 Jan 2015 | 7:03 AM ET

    YANGON, Myanmar— Myanmar has officially opened a deep sea port off its western coast, part of a $2.45 billion port and pipeline project that will carry crude oil from the Middle East to China. CNOC said in a statement on its website that a recently completed pipeline from Kyaukphyu district in Myanmar's Rakhine state to China's Yunnan province will be able to...

  • *Renewed violence in Iraq supports prices. LONDON, Jan 30- Oil rose above $49 a barrel on Friday, supported by renewed violence in Iraq but with a persistent global supply glut keeping the market on course for a seventh straight month of declines, its longest bear run on record. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since hitting a...

  • The U.S. stock market capped a rough month Friday, delivering its third loss in five days and extending its declines for the year. "The real issue still is the confusion, the uncertainty around the speed of decline in oil prices and what that means, and the rise in the dollar and what that means for earnings," said Bob Doll, chief equity strategist at Nuveen Asset...

  • LONDON, Jan 30- Qatar Airways has bought a 9.99 percent stake in International Consolidated Airlines Group worth around 1.15 billion pounds, building closer ties with the owner of its partners British Airways and Iberia in the oneworld alliance. "IAG represents an excellent opportunity to further develop our Westwards strategy," Qatar Airways Chief...

  • DUBAI, United Arab Emirates— Qatar Airways said Friday it has bought nearly 10 percent of the parent company of British Airways and Spain's Iberia, deepening wealthy Qatar's business ties to Europe and intensifying competition with the airline's fast-growing Gulf rivals. "It makes sense for us to work more closely together in the near term and we look forward...

  • *Asia buyers raise Iran imports to 1.12 mln bpd in 2014. Imports by Iran's four biggest buyers- China, India, Japan and South Korea- averaged 1.12 million barrels per day in 2014, government and tanker-tracking data showed, the highest since the region took more than 1.5 million bpd in 2011. Soaring imports last year by China and India after the partial easing of...

  • Jan 29- Bankrupt drugmaker Dendreon Corp has reached a stalking-horse deal with Canada's Valeant Pharmaceuticals International Inc to sell the worldwide rights to its cancer vaccine, Provenge, and certain assets for $296 million. The deal is subject to higher and better bids and extended the bid deadline to Feb. 10 for interested parties to participate in an...

  • HOUSTON/ WILLISTON, N.D., Jan 29- ConocoPhillips and Occidental Petroleum Corp on Thursday slashed exploration spending plans for this year, as the third- and fourth-largest U.S. oil companies attempt to cope with a steep slide in crude prices. The cuts follow similar steps by rival Hess Corp earlier this week while Royal Dutch Shell, Europe's largest oil company,...

  • China overtakes US as world's top investment magnet - UN Thursday, 29 Jan 2015 | 12:00 PM ET

    GENEVA, Jan 28- China overtook the flagging United States to become the top destination for foreign direct investment last year, according to the United Nations economic thinktank UNCTAD. That was largely down to a deal between U.S. firm Verizon Communications Inc and its British partner Vodafone, which included a share buyback that reversed $130 billion of...

  • Soar above Dubai in this stunning penthouse Thursday, 29 Jan 2015 | 11:37 AM ET
    The Address, downtown Dubai

    Soaring 57 floors above the desert, this penthouse boasts a stunning view of the world's tallest building.

  • Senate panel approves Iran sanctions bill Thursday, 29 Jan 2015 | 11:18 AM ET

    WASHINGTON— A bill that would levy tough new sanctions on Iran if it fails to sign an agreement to curb its nuclear program cleared a Senate committee on Thursday. Republican and Democratic members of the Senate Banking, Housing and Urban Affairs Committee voted 18-4 to pass the bill aimed at ramping up economic pressure on Iran starting in July if it doesn't ink...

  • DUBAI, Jan 29- Royal Bank of Scotland plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business. This came on top of confirmation in November it was reviewing its options across its Central and Eastern Europe,...

  • Timberland sever ties with A.P.C. for using "N-word" Thursday, 29 Jan 2015 | 10:16 AM ET

    PARIS— Singer Carla Bruni, actress Catherine Deneuve and burlesque performer Dita Von Teese were among regulars attending the spectacular displays at Paris' haute couture week Wednesday. Sophie Hunter, the fiancée of Oscar-nominee Benedict Cumberbatch, meanwhile, caused much fracas when she attended Valentino hiding her baby bump. But it was surely Naomi...