Stocks Rebound to Close Modestly Lower; HP Surges 17%
Dubai
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Home to the most extensive retail space on the planet, Dubai has the capacity to pack in the shops. But locals are also spending on luxury abroad, a lucrative opportunity as Desiree Bollier, CEO of Value Retail, explains.
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BRUSSELS/ ATHENS- Euro zone finance ministers made progress on Wednesday on ways to keep Greece afloat, Germany said, as talks between Athens and its foreign lenders near conclusion over reforms it must implement to receive fresh emergency loans.
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JERUSALEM- Most Israelis would be reassured if Mitt Romney won next week's U.S. presidential election, feeling they had an unquestioning friend rather than a dispassionate critic in the White House.
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When plans for Qatar to create a €50 m euro fund to invest in some of Paris's poorest suburbs emerged last month, the French political right and left united in disapproval. Yet the reaction shows a fundamental misunderstanding of the way Qatar operates globally and what it is trying to achieve.
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*Dana Gas' $920 mln convertible Islamic bond matures Oct. 31. DUBAI, Oct 30- Dana Gas is set to become the first United Arab Emirates company to fail to pay an Islamic bond on maturity, three sources familiar with the matter said on Tuesday, sending its stock and bond prices sharply lower.
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*Dana Gas' $920 mln convertible Islamic bond matures Oct 31. DUBAI, Oct 30- Dana Gas is set to become the first United Arab Emirates company to fail payment of an Islamic bond on maturity, three sources familiar with the matter told Reuters on Tuesday.
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NEW YORK/ REHOBOTH BEACH- Sandy, one of the biggest storms to hit the United States, pounded the east coast on Tuesday, flooding large parts of New York City, bringing transport to a halt and interrupting the presidential campaign.
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DUBAI, Oct 30- Dana Gas, the United Arab Emirates' largest listed natural gas firm, will not repay a $920 million convertible Islamic bond when it matures on Wednesday and has reached a standstill agreement with bondholders, three sources familiar with the matter told Reuters.
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DUBAI, Oct 30- The Kuala Lumpur- based Islamic Financial Services Board plans to revise its capital adequacy guidelines for Islamic financial institutions, with a draft to be released in November for industry feedback.
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DUBAI, Oct 30- Dubai port operator DP World, which recently disposed of stakes in some non-core assets, reported a slight decline in its consolidated terminal volumes for the third quarter. This was because the Asia-Pacific and Indian subcontinent region and the Europe, Middle East and Africa region reported lower volumes.
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*Singapore Airlines buys 10 pct Virgin stake for $108 mln. MELBOURNE, Oct 30- Singapore Airlines Ltd will buy a 10 percent stake in Virgin Australia Holdings Ltd for A $105 million, stepping up its competition with rival Qantas Airways Ltd in the lucrative Australian market.
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*Singapore Airlines seen gaining exposure with 10 pct Virgin stake. MELBOURNE, Oct 30- Virgin Australia Holdings Ltd said alliance partner Singapore Airlines will buy a 10 percent stake for A $105 million, helping it compete with Qantas Airways in the lucrative Australian market.
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NEW YORK- Hurricane Sandy, the monster storm bearing down on the U.S. East Coast, strengthens after hundreds of thousands move to higher ground, public transport shuts down and the U.S. stock market suffers its first weather-related closure in 27 years (STORM-SANDY/ moved, pix, tv, graphic, by Daniel Trotta, 910 words). Politics puts Italy, Spain back in market focus.
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1530,1930 GMT- Franklin Paul, Chris Kaufman +1 646 223 6200.
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*Most states have enough savings, $1.6 trillion in 2011. DUBAI, Oct 29- Most Arab oil exporting countries in the Gulf should plan to reduce growth in government spending to make their budgets more sustainable, as their combined surplus could turn into a deficit around 2017, the International Monetary Fund said on Monday.
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The Reuters business schedule runs at the following times: 0230,0630 GMT- Mathew Veedon +65 6870-3827 0830,1230 GMT- Malcolm Davidson +44 20 7542 6958 1530,1930 GMT- Franklin Paul, Chris Kaufman +1 646 223 6200.
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DUBAI, Oct 29- Iran holds pictures of Israeli bases and other restricted areas obtained from a drone launched into Israeli airspace earlier this month, an Iranian lawmaker was quoted as saying on Monday. Lebanese militant group Hezbollah claimed responsibility for the aircraft, saying its parts had been manufactured in Iran and assembled in Lebanon.
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SINGAPORE, Oct 29- Gold edged up on Monday after robust U.S. economic data lifted prices in the previous session, but gains could be capped by a firmer U.S. dollar, as well as lingering concerns about Greece's debt woes and a possible bailout for Spain.
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CALABASAS HILLS, Calif.-- The Cheesecake Factory reported a 32 percent rise in quarterly earnings Wednesday as more customers showed up to eat at its restaurants. Net income for the third quarter was $27.2 million, or 49 cents per share. Comparable sales at Cheesecake Factory restaurants rose 2.9 percent from a year earlier.
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*City seen as bastion of loyalty to Assad before uprising. *Businessmen hit by attacks, kidnapping, extortion. AMMAN, Oct 24- Top Syrian businessman Fares Shehabi says he lives in constant fear of being kidnapped by rebels fighting loyalist forces for control of his home city Aleppo.
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DUBAI, Oct 24- Private equity firms in the Middle East are preparing to exit a range of investments, a sign that asset markets in the region are recovering from the twin blows of Arab Spring uprisings and the global financial crisis.