Middle East


  • Business Highlights Wednesday, 1 Oct 2014 | 6:10 PM ET

    NEW YORK— A bottleneck is building in the global market for bonds. GM looks to new vehicles, China to boost profit. MILFORD, Mich.— General Motors CEO Mary Barra told investors Wednesday that GM plans a raft of new models and a big push to sell more cars in China to drive profits in coming years, as the biggest U.S. automaker tries to shift the spotlight from a mishandled...

  • *US, Europe equity volatility: http://link.reuters.com/tyh69v. Investors have mostly held their nerve as headlines lurched from a new' Cold War' in eastern Europe to conflict and Western intervention in the Middle East, the threatened breakup of the United Kingdom and secessionist risks in Europe.

  • DUBAI/ KHOBAR, Oct 1- Saudi Aramco sharply cut official oil prices for Asian customers in November, the state-run company said on Wednesday in the clearest sign yet the world's largest exporter is trying to compete for crude market share.

  • Force alone won't beat ISIS: Ruler of Dubai Wednesday, 1 Oct 2014 | 2:26 PM ET
    Mohammed bin Rashid Al Maktoum, VP and prime minister of the UAE, ruler of Dubai

    If world leaders want to defeat ISIS, they will have to use more than force; they will have to win the intellectual war, says the ruler of Dubai.

  • LONDON, Oct 1- The European Bank for Reconstruction and Development is launching its first strategic plan for Jordan focusing on energy and infrastructure and boosting the economic clout of the private sector.

  • Mondelez plans to invest $90M in Bahrain plant Wednesday, 1 Oct 2014 | 12:23 PM ET

    NEW YORK— Mondelez International Inc. is planning to spend $90 million on a biscuit plant in Bahrain in order to meet growing demand in the Middle East and Africa for brands like Oreo, Ritz and TUC. This is Mondelez's second major investment in Bahrain, having already invested more than $75 million to develop a Kraft cheese and Tang powdered beverage plant there.

  • DUBAI, Oct 1- The International Cotton Association said it is introducing mediation services to help resolve disputes over reneged contracts that have blocked hundreds of blacklisted firms from doing business.

  • JERUSALEM, Oct 1- Erel Margalit has packed a lot in, from frontline combat in Lebanon to a PhD in philosophy at Columbia University, advising Jerusalem's former mayor and launching a billion dollar venture capital firm.

  • JERUSALEM, Oct 1- Within sight of Jerusalem's Old City stands a modernist building housing one of Israel's most successful venture capital firms, the backer of scores of start-ups over the past 20 years that have generated nearly $18 billion for investors.

  • *China's PMI steadies at 51.1, just above forecast. *Ample supply, higher OPEC output weighs on prices. Concern over growing oil supply despite conflict in the Middle East and a stronger dollar pushed global benchmark Brent to its lowest since June 2012 on Tuesday, and the same factors are likely to keep a lid on any price recovery.

  • Saudi overhaul reshapes Islam's holiest city Mecca Wednesday, 1 Oct 2014 | 3:11 AM ET

    At that time, Mecca was so small, pilgrims could sit at the cube-shaped Kaaba and look out at the serene desert mountains where the Prophet Muhammad once walked. "My father and all the people who lived in Mecca wouldn't recognize it," said al-Bar, who is now Mecca's mayor.

  • NYMEX-Oil pares steep declines, stays above $91 Tuesday, 30 Sep 2014 | 8:35 PM ET

    *NYMEX crude for November delivery was up 19 cents at $91.35 a barrel by 0014 GMT, after settling down $3.41 at $91.16 on Tuesday, hurt by falling gasoline prices and the dollar's surge to a four-year peak against a basket of currencies.

  • "All across the world we have seen, from Asia to Europe to Africa to North America, more and more people are consciously thinking about healthy food, exercising, looking to nature, getting massages and doing yoga," said Ophelia Yeung, a senior consultant for SRI International who led the study.

  • Business Highlights Tuesday, 30 Sep 2014 | 6:02 PM ET

    School spending by affluent is widening wealth gap. WASHINGTON— Education is supposed to help bridge the gap between the wealthiest people and everyone else. Ask the experts, and they'll count the ways:.

  • NEW YORK, Sept 30- World oil prices tumbled to their lowest in more than two years on Tuesday, with U.S. crude posting its biggest daily decline since 2012, as a drop in gasoline prices and end-of-quarter selling capped three months of steep losses.

  • *Gold notches 6 pct drop in Sept, biggest in 15 months. *Unrest in Hong Kong could hit physical demand from China. NEW YORK/ LONDON, Sept 30- Gold fell to a nine-month low on Tuesday as the dollar surged and commodities led by crude oil tumbled on expectations of further gains in the U.S. currency.

  • Strike-scarred Air France-KLM may need strategy rethink Tuesday, 30 Sep 2014 | 11:59 AM ET

    PARIS, Sept 30- With no deal in sight over pilot pay and up to 300 million euros of strike costs to absorb, Air France-KLM may need to rethink its route to viability.

  • US consumer confidence slides in September Tuesday, 30 Sep 2014 | 10:17 AM ET

    WASHINGTON— U.S. consumer confidence deteriorated in September after hitting the highest level in nearly seven years in August. Some suggested that the result may have been influenced by heightened global tensions as the conflict against Middle East militants widens.

  • *OPEC output highest since November 2012- Reuters. LONDON, Sept 30- OPEC's oil supply jumped to its highest in almost two years in September, a Reuters survey found, due to further recovery in Libya and higher output from Saudi Arabia and other Gulf producers in the face of sub- $100 per barrel oil prices.

  • *Sisi hails Suez Canal expansion as flagship project. CAIRO, Sept 30- In his first 100 days in office, Egyptian President Abdel Fattah al-Sisi has made a fast start on economic reform: slashing costly fuel subsidies, raising taxes and devising infrastructure projects to secure long-term revenues and ease unemployment.