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  • DUBAI, March 26- Top oil exporter Saudi Arabia and Gulf OPEC ally Kuwait will beef up security around their oil facilities, they said on Thursday, after they and other Arab allies began a military operation in Yemen. Oil prices rallied on Thursday after the air strikes in Yemen, on the borders of Saudi Arabia, sparking fears of a wider Middle East conflict that could...

  • *Kuwait, Oman biggest losers after closing at peak of sell-offs. DUBAI, March 26- Most Middle East stock markets fell on Thursday after Saudi Arabia and its allies in the region launched air strikes against Yemen's Houthi militia, but they came well off their lows late in the day as the initial panic subsided. Yemen's slide toward civil war has made the country a...

  • DUBAI, United Arab Emirates— Stock markets across the Gulf Arab region and other parts of the Middle East closed slightly lower on Thursday, an expected tumble after Saudi Arabia launched airstrikes overnight on neighboring Yemen. Oil prices were also hit by the jitters over the escalation in Yemen, with Brent crude up $2.34 at $58.81 and U.S. crude up $2.20 at...

  • DUBAI, March 26- Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease. Air strikes against Houthi forces in Yemen by Saudi Arabia on Thursday raised the prospect of a proxy war, with Shi'ite Iran...

  • *Oil rises on fears of Middle East supply disruption. LONDON, March 26- Crude prices rose as much as 6 percent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers' currencies. "Oil is having a nice move after more geopolitical tensions in the Middle East over...

  • LONDON, March 25- Borse Dubai, the biggest investor in the London Stock Exchange is selling its stake in the British exchange, which will raise around 1.5 billion pounds. The Dubai exchange became a major shareholder in Nasdaq in a complex deal in 2007, buying a 28 percent stake in the LSE from the U.S. exchange for 1,414 pence per share. Bank of America Merrill Lynch,...

  • RIYADH/ DUBAI, March 24- Saudi Arabian real estate shares tumbled on Tuesday after the cabinet approved a proposal to tax undeveloped land in urban areas- a policy that could shake up investment incentives in the kingdom and help to resolve a housing shortage. Some analysts have estimated 40 or even 50 percent of space inside big cities such as Riyadh, Jeddah and...

  • *Larger volumes flows to U.S., Asia, Europe. Iraq, Venezuela, Russia and Kazakhstan all saw their oil partially replaced by Saudi crude in Asia, the United States and even Europe, with its lackluster demand, as traders said the kingdom offered customers more oil, and more cheaply. Gary Ross, the founder and executive chairman of PIRA, the first consultancy to predict...

  • PARIS, March 20- Aircraft leasing company Amedeo may sign up two customers for the Airbus A380 this year, its chief executive told Reuters. Airbus and Amedeo declined comment on specific airlines. For the 20 new jets, it has a co-operation deal with Airbus making Amedeo an "extended marketing operation," Lapidus said.

  • CAIRO— The idea is colossal: building an eco-friendly city the size of Singapore in the desert outside Cairo, a sleek new capital fit for the 21st century where a diverse slice of society will live in harmony. It's everything missing from Egypt today— with a price tag of up to $80 billion. It is more like a scripted media event than a serious proposal, reflecting the...

  • PARIS, March 20- Aircraft leasing company Amedeo may sign up two customers for the Airbus A380 this year, its chief executive told Reuters. Airbus and Amedeo declined comment on specific airlines. For the 20 new jets, it has a co-operation deal with Airbus making Amedeo an "extended marketing operation," Lapidus said.

  • *Government says total of over $10 billion held abroad. COLOMBO, March 19- Sri Lankan investigators have located more than $2 billion that was secretly transferred to accounts in Dubai by figures close to the administration of former president Mahinda Rajapaksa, the government said on Thursday. Describing the accounts found in Dubai, Senaratne said: "One person...

  • French retailer Carrefour returning to Algeria - source Thursday, 19 Mar 2015 | 7:02 AM ET

    *Carrefour expanding in Africa through franchises, JVs. PARIS, March 19- Carrefour is preparing to return to Algeria after a six-year absence, as part of a drive to tap booming consumer demand in Africa. Rising incomes and an underdeveloped retail sector have made Africa an important new growth destination for retailers and consumer goods companies, with the...

  • DUBAI, United Arab Emirates— DP World, the Dubai- based international port operator, said Thursday its profit rose 12 percent in 2014, a year in which it assumed ownership of a sister company that runs free-trade zones in the Gulf emirate. Over the course of the year, DP World expanded capacity at its flagship Jebel Ali port and continued work on new facilities...

  • *Mooted March meeting of OPEC, non- OPEC shelved- Russia. LONDON, March 18- OPEC efforts to bring non-member countries such as Russia on aboard in cutting output have made little progress, officials say, and even the chance of more Iranian exports hitting prices if sanctions end is unlikely to boost cooperation. Since the oil price collapse, top OPEC exporter Saudi...

  • However, South Africa's rand, Turkey's lira and the Brazilian real all eased against the greenback ahead of the Fed's policy statement, widely anticipated to lay the ground for the first U.S. interest rate hike in nearly a decade later in the year. In Moscow, both dollar and rouble-denominated shares gained ground while in Israel shares rose 0.6 percent after...

  • A report released by the U.S. Transportation Department Office of Inspector General found that the FAA lacks the training and guidance necessary to enforce Bush-era regulations that allow carriers to disclose hazardous material violations voluntarily, without incurring civil penalties. In 65 percent of hazardous material cases, OIG investigators...

  • Chanel plans price hikes in Europe, cuts in China Tuesday, 17 Mar 2015 | 11:33 AM ET

    PARIS, March 17- French fashion house Chanel said it plans to hike prices in Europe and cut them in Asia to counter the decline of the euro and discourage customers from buying fakes. The price of the 11.12 and 2.55 models will rise to 4,260 euros in April from 3,550 euros in Europe, while the cost of the Boy bag is set to rise to 3,720 euros from 3,100 euros, Chanel said.

  • DUBAI, United Arab Emirates— An American helicopter mechanic whose Facebook post complaining about his employer in the United Arab Emirates got him arrested said Tuesday he has been told the company is seeking to dismiss the charges against him. Ryan Pate, 30, appeared in an Abu Dhabi court Tuesday to present his defense on charges he defamed his Emirati...

  • *Andorra says banking system under stress. MADRID, March 16- State-appointed managers at Andorra's Banca Privada d' Andorra have capped cash withdrawals in an attempt to contain the damage from U.S. allegations the bank laundered money for international criminal gangs. Andorra took control of the bank after the U.S. Department of the Treasury described it last...