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  • LAUNCESTON, Australia, July 2- One of the little mysteries this year in Asian oil markets has been the drop in China's diesel exports. Customs data show that China exported 1.303 million tonnes of diesel in the first five months of the year, a drop of 24 percent over the same period in 2014.. It would seem logical that they would have done so as diesel margins have held...

  • SEOUL, July 2- Refiners in South Korea, the world's fifth-largest crude oil importer, have stepped up spot purchases this year, buying at prices depressed by an oil glut as they run their plants at high rates to catch strong processing margins. "Refining margins are firm thanks to rising demand triggered by weak oil prices, which has supported higher throughput...

  • DUBAI, July 1- Dubai- based Investbridge Capital, Centum Investment Company and education firm SABIS Holdings have agreed to set up a firm which will invest "hundreds of millions of dollars" establishing schools in Africa, the group said on Wednesday. "We expect to deploy hundreds of millions of dollars in the coming years," Mark DeSario, chief executive of...

  • *Heathrow plan provides greatest benefits, commission says. Proposals to expand Heathrow in densely populated west London are politically divisive and likely to fuel tensions in the ruling Conservative party. Cameron set the deadline after a government-appointed commission selected Heathrow, Britain's busiest airport, as the preferred location for...

  • Dubai plans to build 3-D printed office building Tuesday, 30 Jun 2015 | 10:05 AM ET

    DUBAI, United Arab Emirates— Fast-growing Dubai, where something new is always being added to the skyline, may have found a way to make construction move even faster. Mohammed al-Gergawi, the United Arab Emirates' minister of Cabinet affairs, said the project is part of a broader effort by the seven-state federation to embrace cutting-edge technology and make it...

  • DUBAI, June 30- Dubai said it would construct a small office building using a 3 D printer for the first time, in a drive to develop technology that would cut costs and save time as the city grows. Dubai's one-storey prototype building, with about 2,000 square feet of floor space, will be printed layer-by-layer using a 20- foot tall printer, Mohamed Al Gergawi, the...

  • SINGAPORE/ LONDON, July 1- A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer. While no immediate threat to the gold pricing dominance of London and New York, the benchmark could...

  • DUBAI, United Arab Emirates— An indebted Dubai real estate developer says it will repay more than half a billion dollars in money owed to banks and trade creditors as part of its financial restructuring. The state-controlled company, Limitless, said Monday that more than 90 percent of the $564 million it will repay will go toward its bank debt, which represents 42...

  • JOHANNESBURG, June 29- Packed tightly at a row of graffitied desks in an overcrowded classroom, students at Masiqhakaze Secondary School near Johannesburg shiver as a chilly breeze blows through broken windows. In a 2015 report the World Economic Forum ranked South Africa last in the quality of mathematics and science education and close to last at 139 out of...

  • *Accounting changes to increase 2014 loss to 1.745 bln riyals. DUBAI, June 28- Saudi Arabia's Etihad Etisalat will book further losses for 2014 after a regulator-led investigation into accounting errors at the company, it said in a statement on Sunday. The Capital Market Authority launched an investigation into the firm last November after Mobily, 28 percent...

  • VIENNA, June 26- An accord to curb Iran's nuclear program remains elusive due to disagreements on fundamental issues, France's foreign minister said on Saturday in Vienna, just days before the June 30 deadline for a deal. "What we want is a robust deal that recognizes Iran's right to civil nuclear power, but guarantees that Iran gives up definitively the nuclear...

  • Significant differences remain, notably over the pace and timing of sanctions relief for Iran and the nature of monitoring mechanisms to ensure Tehran does not cheat on any agreement. In addition to Iran and the United States, the talks include Britain, China, France, Germany and Russia. The West fears that Iran has been trying to build a nuclear weapon but Iran...

  • June 25- One week after Saudi Arabia opened its stock market to direct foreign investment, U.S. mutual fund managers say they are interested but not rushing to invest in the Middle East's biggest economy. Foreign fund inflows are slower than initially expected, in part because U.S. fund companies like Fidelity and Harding Loevner are digesting numerous...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 60 and 110 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 110 and 160 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • June 25- Saudi Arabian Airlines will take delivery of 50 aircraft from Airbus in the largest aviation deal to be secured via Islamic financing, as the European planemaker tries to gain an edge over rival Boeing in the key Gulf aviation market. Dubai- based International Airfinance Corporation, an Airbus- backed sharia-compliant aircraft leasing fund, will buy...

  • *Hackers stole Codan's designs for metal detectors. *Codan forced to slash prices to compete with counterfeits. But try telling that to Donald McGurk, chief executive of Australian communications, metal detection and mining technology firm Codan, who has watched sales and prices of his firm's metal detectors collapse since Chinese hackers stole its designs...

  • *Hackers stole Codan's designs for metal detectors. *Codan forced to slash prices to compete with counterfeits. But try telling that to Donald McGurk, chief executive of Australian communications, metal detection and mining technology firm Codan, who has watched sales and prices of his firm's metal detectors collapse since Chinese hackers stole its designs...

  • TEL AVIV, June 24- The family businesses that make up the global diamond trade have seen their profits wiped out over the past five years, hit by shaky financing, increased costs and uncertain demand from customers who prefer hi-tech gadgets to bling. While the $80 billion overall spent on diamond jewelry last year was a record, the manufacturers are expected to...

  • Official: US to manage Afghan airspace till mid-September Wednesday, 24 Jun 2015 | 7:25 AM ET

    The airspace, a key air corridor between Europe and Asia, has been managed by the U.S.-led international military coalition or foreign companies paid by donor countries since the 2001 U.S.-led invasion that overthrew the Taliban regime. But with the pullout from Afghanistan of international combat troops, responsibility and control of the airspace was to...