Jeff Singer, CEO of DIFC, says that Dubai has established itself as a "safe haven" and one of the most open Middle East countries to the west.» Read More
DUBAI, March 31- Dubai World, the conglomerate at the centre of the emirate's debt crisis, has the means to make its first big repayment on time next year and expects to pay off more of its debt ahead of schedule, a top executive said.
March 30- Libya's sovereign wealth fund has filed a $1.5 billion lawsuit against Societe Generale, accusing it of funnelling bribes worth tens of millions of dollars to associates of Saif al-Islam, the son of former Libyan leader Muammar Gaddafi.
*Libya struggling with progress three years after Gadaffi ouster. TRIPOLI, March 30- When a militia holding Libya's eastern ports loaded a North Korean-flagged tanker with oil earlier this month, the Libyan parliament sacked its own prime minister and turned to U.S. commandos to bring its cargo back.
*UAE backs Egypt military as bulwark against Brotherhoood.
ANKARA, March 27- Looming fuel price rises in Iran will be the first major test of President Hassan Rouhani's ability to retain public support in the face of attacks from his hardline rivals.
DUBAI, March 24- Virgin Atlantic founder Richard Branson dangled the carrot of further investment in the British airline's domestic carrier Little Red as he stepped up the campaign for a third runway at London's Heathrow airport.
The crisis is the latest chapter in an eight-year battle between Bangkok's middle class and royalist establishment against supporters of Yingluck and Thaksin Shinawatra, her brother, who was ousted as premier by the army in 2006. He lives in Dubai to avoid a jail term for abuse of power.
LONDON, March 22- Private equity firm Clayton Dubilier& Rice LLC is the frontrunner among four bidders for Germany- based, but Dubai- owned, packaging group Mauser, Britain's Sky News reported on its website on Saturday, without citing its sources.
LONDON, March 21- The future of two big loans for oil trading firm Gunvor and petrochemicals group Sibur were thrown into doubt after Russian businessman Gennady Timchenko appeared on the US sanctions list over Russia's involvement in Crimea and Ukraine.
CAIRO/ DUBAI, March 20- After Egypt's new finance minister took office last month, one of his first acts was to downgrade the government's assessment of its finances. He was acknowledging what may become the biggest threat to Egypt's economic recovery after years of political turmoil: a rising public debt burden.
DUBAI, March 20- Buyout firm GrowthGate Capital plans to take freight-forwarding company Able Logistics Group public in Dubai around the end of this year, a senior GrowthGate executive told Reuters, in a sign of growing strength in the region's equity markets. "We aim to make it this year or early next year," Haythem Macki, a partner at GrowthGate, said.
CAIRO, March 20- Egyptian Army chief Field Marshal Abdel Fattah al-Sisi may not look like a model democrat, but foreign and local businessmen believe he can deliver stability to open up investment opportunities in the most populous Arab nation.
LAUNCESTON, Australia, March 20- The price of Middle East crude oils being supplied to Asia appears too high given an increase in supply from Iran, Iraq and rival Russia and muted demand from refiners. The Brent- Dubai exchange for swaps fell to $3.75 a barrel on Wednesday, down from the year-high of $4.44 on March 14.
Jeffrey Singer, CEO of the Dubai International Financial Center, explains what growth he foresees for the recovering Emirate as a global finance hub, and how geopolitical turmoil nearby has changed the equation.
TRIPOLI/ LONDON, March 19- What began late last year as a routine new assignment for Pakistani sea captain Mirza Noman Baig ended in a dramatic night-time rescue as U.S. special forces seized the ship his family said he was forced to operate by Libyan rebels.
The race is heating up in the Middle East to develop an international financial center, according to a top Dubai executive.
MILAN, March 18- Sundried tomatoes and seabass tartare tickled tastebuds in Milan on Tuesday as upmarket Italian food hall chain Eataly opened a flagship store, the latest step in its plan to expand and list its shares on the market.
*Dubai rolls over $20 bln crisis debt from AD govt, UAE c.bank. DUBAI, March 16- Abu Dhabi and the central bank of the United Arab Emirates have agreed to refinance $20 billion of debt that was extended to the Dubai government as emergency aid during its financial crisis and comes due this year, the state news agency said on Sunday.
DUBAI, March 16- Abu Dhabi and the central bank of the United Arab Emirates have agreed to refinance $20 billion of debt that was extended to the Dubai government as emergency aid during its financial crisis and comes due this year, the state news agency said on Sunday.
DUBAI, March 16- Dubai is considering regulatory reforms to persuade more funds to base themselves in its financial centre, though industry experts believe that other parts of its investment environment may also need to change for the emirate to compete globally.