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.» Read More
ABU DHABI, Oct 9- Abu Dhabi Commercial Bank. has settled a $107.13- million legal claim it filed against indebted Zabeel Investments, which is owned by the crown price of Dubai, two sources said.
NEW YORK-- The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. Benchmark crude gained $3.06, or 3.4 percent, to finish at $92.39 a barrel in New York. There is also concern that tensions between Turkey and Syria could escalate and disrupt supplies from the Middle East.
CANBERRA, Oct 9- Qantas Airways Ltd's chief executive said he was confident Australian regulators would approve a proposed alliance with Dubai's Emirates. Australia's biggest airline announced a 10- year alliance with Emirates last month that is currently under evaluation by the competition watchdog, the Australian Competition and Consumer Commission.
DUBAI, Oct 9- Aluminum Bahrain and U.S. aluminum maker Alcoa said on Tuesday they had settled the Bahraini firm's racketeering and fraud suit against Alcoa in return for $85 million in cash plus long-term raw material supply contracts.
Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market.
rose 38 cents to $89.71 a barrel in early Asia trading, after dropping 55 cents the previous session. *Turkish President Abdullah Gul said on Monday the "worst-case scenarios" were now playing out in Syria and Turkey would do everything necessary to protect itself, as its army fired back for a sixth day after a shell from Syria flew over the border.
Oct 9- The Middle East and North Africa's oil exporting countries will see economic growth accelerate in 2012 to 6.6 percent, mainly due to a strong rebound of activity in Libya, the International Monetary Fund said on Tuesday.
NEW YORK-- Qatar Airways is joining an alliance of airlines including American Airlines, British Airways and nine other carriers that coordinate routes and allow passengers to earn frequent flier miles on each other's flights.
*Conference to discuss rules in Dubai in December. GENEVA, Oct 8- The best solution to improving oversight of the Internet may be to do nothing at all, a senior U.S. official said on Monday while briefing reporters on a conference in December that could decide to consolidate control within a U.N. body.
DUBAI, Oct 8- A battle of wills between Iran's government and foreign exchange traders may end with authorities taking over all legal trade in the rial, leaving many Iranians to seek hard currency illegally in a poorly supplied black market.
DUBAI, Oct 8- Saudi Arabia's share index hit a 10- week low and most other Gulf Arab bourses declined on Monday as slumping oil prices and a gloomy start to the week on world markets weighed on regional sentiment.
DUBAI, Oct 8- The World Bank's financial arm International Finance Corp plans to increase its investments in Yemen, Iraq and North Africa next year to help support development and job creation, a senior IFC executive said.
DUBAI, Oct 8- Iran derided Israel's air defences as feeble on Monday, citing a drone incursion into its arch-foe's airspace, but did not say it had sent the aircraft shot down by the Israelis at the weekend.
CAIRO, Oct 8- Egypt's foreign reserves fell by $84 million in September but held above the $15 billion seen as necessary to shore up the pound for a third straight month after foreign donors began fulfilling promises of aid.
By Dinesh Nair and David French. DUBAI, Oct 8- Kuwaiti telecoms operator Viva, part-owned by Saudi Telecom Co, has approached banks for a $400 million loan aimed at expanding its existing capabilities, two banking sources familiar with the matter said. Viva is Kuwait's third mobile operator, behind larger rivals Zain and Qatar Telecom unit Wataniya.
Iran, the world's No. 5 oil exporter, has tightened cyber security since its uranium enrichment centrifuges were hit in 2010 by the Stuxnet computer worm, which Tehran believes was planted by Israel or the United States.
DUBAI, Oct 8- Morgan Stanley and Goldman Sachs Group Inc have lost their two top Qatar executives to local firms, three sources said on Monday, as the gas-rich Gulf Arab state lures back high-profile citizens with better pay and prospects.
It intercepted more than 80 percent of the targets it engaged in March when nearly 300 rockets and mortars were fired at southern Israel, the Pentagon said at the time. The drone was first spotted above the Mediterranean near the Hamas- ruled Gaza Strip to the west of Israel, said military spokeswoman Avital Leibovich.
*Air France-KLM also signs code share with Air Berlin. PARIS, Oct 8- Air France-KLM, Air Berlin and Abu Dhabi flag carrier Etihad, plan to offer passengers access to some of each other's services from Oct. 28 in a sign of improving relations between European and Gulf carriers.
DOHA, Oct 8- The head of Morgan Stanley Inc's. Qatar business has resigned to join the investment banking arm of unlisted local lender Barwa Bank, three sources familiar with the matter said. Morgan Stanley and Barwa Bank declined to comment.