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  • ABU DHABI, Nov 6- The Abu Dhabi fund which owns a major stake in Virgin Galactic will wait for results of the probe into last week's fatal crash before deciding on its commitment to the project, a source with knowledge of the matter told Reuters on Thursday. The backing of deep-pocketed Aabar Investments, run by the Abu Dhabi government, may be crucial to Virgin...

  • NASDAQ Dubai to promote Egyptian firms' dual listings Thursday, 6 Nov 2014 | 5:08 AM ET

    "This will reduce risk for investors," Salam told reporters, estimating that UAE investment in Egypt's stock market now totalled about 14 billion Egyptian pounds. He declined to comment on specifics, but Amsterdam- listed OCI, controlled by Egypt's billionaire Sawiris family, said on Thursday it planned to spin off its construction and engineering business and...

  • BHP's U.S. oil export plan met by caution in Asia Thursday, 6 Nov 2014 | 3:02 AM ET

    SINGAPORE, Nov 6- Asian buyers of condensate said they would be wary of taking cargoes of the ultra-light oil that BHP Billiton Ltd plans to export from the Gulf of Mexico without explicit approval from the U.S. government. South Korea's GS Caltex and Japan's Cosmo Oil Co were the first Asian refiners to buy U.S. condensate after the United States relaxed a 40- year...

  • LONDON, Nov 5- Oil's tumble to new four-year lows on Wednesday prompted a heavy selloff of stocks and bonds in energy-producing emerging markets from the Middle East to Russia, while importer countries like India enjoyed the prospect of cheaper fuel. "We're going to start seeing some secondary effects of the oil price," said Ilan Solot, a strategist at Brown...

  • *Coincides with other Qatar investment deals with China. Industrial and Commercial Bank of China's Doha branch has been appointed as the clearing bank for yuan deals in Qatar, China's central bank said on Tuesday. "The signing of the MoU and the appointment of the renminbi clearing bank will increase the strong ties between China and Qatar and position Qatar as...

  • LAUNCESTON, Australia, Nov 4- The decision by Saudi Aramco to reverse most of its discount for crude shipped to Asia is being viewed as a sign that the Middle East's biggest producer is now more keen to support oil prices. Saudi Aramco raised its Official Selling Price for December cargoes of its main Arab Light grade to Asia to a discount of 10 cents a barrel to...

  • *This is down from 6.68 billion riyals previously. DUBAI, Nov 3- Saudi Arabia's bourse regulator launched an investigation into Mobily on Monday after the telecoms firm restated a year and a half of its earnings, months before the kingdom is due to open its stock market to direct foreign investment. Saudi Arabia ranked highest among the five main Middle East...

  • BEIJING/ DUBAI, Nov 3- China's central bank has signed a 35 billion yuan currency swap deal with its Qatari counterpart, in a step towards expanding use of the Chinese yuan in a region long dominated by the U.S. dollar. The United Arab Emirates signed a three-year currency swap arrangement with China in 2012 that was similar in size to Qatar's. Gulf Arab countries...

  • *This is down from 6.68 billion riyals previously. DUBAI, Nov 3- Saudi Arabia's No.2 telecommunications operator Mobily restated a year and a half of earnings due to accounting errors on Monday and posted a shock plunge in profit, months before the kingdom is due to open its stock market to direct foreign investment. "This may be a temporary glitch as Mobily has...

  • *This is down from 6.68 billion riyals previously. DUBAI, Nov 3- Saudi Arabia's Mobily reported a 71 percent tumble in third-quarter net profit on Monday and also restated its profits for the preceding 18 months due to what it said was a timing error in recognising revenue from a promotional campaign. Mobily made a net profit of 472 million riyals in the three...

  • *Hong Kong shares fall on profit-taking, but see resistance. SHANGHAI, Nov 3- China shares hit a multi-month high on Monday, supported by sustained strength in blue-chip brokerages and steel firms, while Hong Kong markets fell as profit-taking emerged after the recent solid gains. Guangzhou Shipyard International Ltd soared its 10 percent daily limit in the...

  • NEW YORK, Oct 31- U.S. authorities are investigating London- based Standard Chartered Plc for potential U.S. sanctions violations connected to its banking for Iranian-controlled entities in Dubai, according to people familiar with the probe. Investigators also learned that the company used to have an account with Standard Chartered, according to the source.

  • NAIROBI, Oct 31- Kenya, like other nations on a continent that boasts some of the fastest growth rates in the world, is racing to upgrade neglected infrastructure, improve regulations and revise often outdated economic figures to spur investment. But Kenya's challenges, many of which are mirrored across Africa, are formidable if it wants to build on recent gains.

  • RIYADH, Oct 30- Saudi Arabia's National Commercial Bank IPO-NACO.SE> said the retail portion of its 22.5 billion riyal initial share sale had attracted investor interest amounting to more than double the amount on offer. The kingdom's largest bank by assets is selling 15 percent of its stock, priced at 45 riyals per share, to local investors between Oct. 19 and Nov....

  • HONG KONG, Oct 30- Even as China quickly expands the use of its currency to financial hubs in Asia and Europe this year, bankers are already looking to Canada and Middle East as the next growing regions for their offshore yuan buinsess. "There is big potential in the Middle East and Canada in terms of where's next for offshore yuan development, and the needs there are...

  • HONG KONG, Oct 30- Even as China quickly expands the use of its currency to financial hubs in Asia and Europe this year, bankers are already looking to Canada and Middle East as the next growing regions for their offshore yuan buinsess. "There is big potential in the Middle East and Canada in terms of where's next for offshore yuan development, and the needs there are...

  • CAIRO, Oct 27- From mega-projects to tax reforms, Egyptian ministers presented detailed initiatives last week to revive an economy battered by three years of upheaval and decades of neglect. Quizzed about Egypt's political challenges, however, they had less to say. Marking themselves out from predecessors, the ministers spoke with candour about the enormity...

  • *Kuwait says moving ahead with privatisation programme. *Partial deregulation, financing schemes in Saudi, UAE. DUBAI, Oct 26- Kuwait's privately owned Jazeera Airways is preparing to bid for a big stake in state-run flag carrier Kuwait Airways, Jazeera's chairman told Reuters.

  • DIARY - Emerging Markets Economic Events to Nov 4 Thursday, 23 Oct 2014 | 8:02 PM ET

    Oct 24- For other related diaries, please. COLOMBO- Sri Lankan President and Finance Minister Mahinda Rajapaksa presents 2015 budget in the parliament. SEOUL- South Korea's Central Bank Governor Lee Ju- yeol and Finance Minister Choi Kyung- hwan will appear before lawmakers.

  • *Dubai's retail investors return to the market. *Dana Gas jumps after collecting some cash in Egypt, Iraq. Dubai's index rose 0.6 percent on the back of lenders Emirates NBD and Dubai Islamic Bank, both of which reported strong profit growth and beat analysts' estimates on Wednesday.