GO
Loading...

Dubai

More

  • *OPEC repeats intention to keep output steady despite glut. LONDON, Dec 15- Brent crude hit a fresh five-year low close to $60 a barrel on Monday after oil producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to trade around $63. Things will be left as is, "OPEC Secretary-General...

  • *Qatar falls sharply despite bullish economic outlook. The bourses' losses left Qatar and Bahrain as the only Gulf markets with year-to-date gains. With the exception of Oman and Bahrain, where state finances are relatively weak, analysts and fund managers think that scenario is unlikely.

  • Egypt stock market loses $3B amid oil plunge Sunday, 14 Dec 2014 | 9:47 AM ET

    CAIRO— Egypt's stock market shares plunged by 22 billion Egyptian pounds in Sunday trading as low oil prices dragged down regional economies. The markets in Egypt and Gulf Arab countries "are correlated in terms of their performance because the investor base intersects." Any net benefit for Egypt from the decline in oil prices hinges on the willingness of the...

  • DUBAI, Dec 14- Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators. Speaking at a conference in Dubai, Abdullah al-Badri defended November's decision by the Organization of the Petroleum...

  • DUBAI, Dec 14- The head of OPEC said on Sunday the group had no target price for oil, signalling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets. The comments were Badri's first since OPEC, or the Organization of the Petroleum Exporting Countries, left its output levels...

  • DUBAI, Dec 14- The head of OPEC said on Sunday the group had no target price for oil, and urged Gulf states to continue investing in exploration and production, saying the United States would continue to rely on Middle East crude for many years. OPEC sought a price level that was suitable and satisfactory both for consumers and producers, he said, without specifying a...

  • OPEC chief urges oil investment despite low prices Sunday, 14 Dec 2014 | 4:38 AM ET

    DUBAI, United Arab Emirates— The secretary-general of OPEC on Sunday urged Gulf Arab nations to keep investing in oilfield development despite the plunge in crude prices and gave no indication the cartel was prepared to shift its strategy to halt the slide. Increased production by non- OPEC countries is adding to world supplies, but it is not enough to account...

  • Badri, in his first public comments since an OPEC meeting last month, said the group had no target price for crude. Speaking at an event in Dubai, he also said he believed the United States would continue to depend on Middle East oil for many years. OPEC last month decided to leave output ceiling unchanged.

  • DUBAI, Dec 14- The secretary-general of the Organization of the Petroleum Exporting Countries said on Sunday the price of oil had fallen further than market fundamentals would have dictated. Speaking at an event in Dubai, Abdullah al-Badri added that the November meeting which ruled out a cut in production by members of the group was not aimed at anyone...

  • In May, MSCI upgraded Qatar and the United Arab Emirates to emerging-market status, drawing billions of dollars of new money to them. Saudi Arabia will open its bourse to direct foreign investment next year, which could draw tens of billions of dollars in coming years. But a plunge in the markets over recent weeks has wiped out roughly $150 billion of value since...

  • LONDON, Dec 12- British celebrity chef Jamie Oliver is looking to outside investors to help expand his growing network of Italian restaurants and to fund an online TV project, sources familiar with the situation said. Oliver, whose simple recipes earned him the nickname "The Naked Chef", has grown his restaurant business to more than 30 venues in Britain and has a...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and a sluggish demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for demand growth in...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for...

  • LONDON, Dec 12- Brent crude oil slipped on Friday to $63 a barrel, its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook. The market has reacted strongly to the OPEC forecast cut, and it is focusing only on the negative, "said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.

  • *UAE, Qatar, Oman tumble in panic sell-off. *Dubai posts biggest daily loss in six years. DUBAI, Dec 11- Gulf stock markets fell sharply on Thursday as panic selling spread across the region after oil dropped to a fresh five-year low; Dubai's main index sank 7.4 percent, its biggest daily loss in six years.

  • Dec 11- The head of Dubai- based airline Emirates has reacted angrily to a suggestion by Airbus that it might stop making its A380 superjumbo airliner, telling Reuters it could double its investment if the planemaker agreed to upgrade the A380 instead. Tim Clark, president of Emirates, said he had protested to Airbus after its finance director aired the...

  • LONDON, Dec 11- Emerging market stocks were sold off on Thursday, with Middle East bourses battered after oil prices plunged the previous day and the Saudi oil minister shrugged off suggestions the country might cut output to shore up prices. Fuelling the selloff in Middle East share markets were comments by Saudi Arabia's oil minister reiterating that the...

  • PARIS, Dec 11- The head of Dubai's Emirates issued a furious reaction to a public suggestion by Airbus that it might discontinue the A380 superjumbo and told Reuters it was ready to invest massively in an upgraded version if the planemaker went ahead with it. Tim Clark, president of Emirates airline, said he had protested to Airbus after its finance director aired...

  • From Ferragamo to Missoni, sneakers tread a trend Thursday, 11 Dec 2014 | 2:56 AM ET

    MILAN— Ferragamo creative director Massimiliano Giornetti knew sneakers had truly arrived as a fashion statement when, at a formal dinner in Rome, he spotted a former Italian senator of a certain age wearing them with a pinstripe suit. "It was not provocative," Giornetti said. "For many men, they treat sneaker purchases in exactly the same way they would treat shoe...

  • BEIJING, Dec 11- Brent crude ticked higher on Thursday but remained below $65 per barrel, not far from a five-year low hit in the previous session, with the market's bearish tone largely intact. Brent crude edged up 55 cents to $64.79 by 0454 GMT, more than a dollar away from the previous session's low of $63.56- the weakest since July 2009. "This is a bit of a return to a...