Business Middle East

  • BEIJING— On a seaside field south of Shanghai, workers are constructing a nuclear reactor that is the flagship for Beijing's ambition to compete with the United States, France and Russia as an exporter of atomic power technology. Still, experts say Beijing underestimates how tough it will be for its novice nuclear exporters to sell abroad.

  • In this view, Saudi Arabia is increasing output as a warning to rivals that if there is no agreement on a production freeze it has the means to continue raising its output and intensify the pain for all oil exporters. Saudi Arabia may have resorted to volume warfare in the past to encourage agreement on output and punish non-compliance. At least this time around,...

  • *Chinese firms in running for K-Electric. SINGAPORE/ ISLAMABAD, Aug 24- Chinese state-backed firms are frontrunners to buy a $1.5 billion controlling stake in Pakistani utility K-Electric, sources said, as they bet the benefits of a Beijing- led economic corridor will trump the risks of investing in Pakistan. "The China-Pakistan Economic Corridor is the main...

  • NEW YORK, Aug 23- Oil prices rose on Tuesday after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market, before the market pared gains on trade data showing a surprise build in U.S. crude stocks. Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, refused to join a...

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • NEW YORK, Aug 23- Oil prices rose more than 1 percent on Tuesday after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market. Although it has not said if it will join an effort to curb production at a meeting of OPEC and other producers in September, Iran appears more willing this time to reach an...

  • *Iran sending "positive signals" on output freeze- sources. NEW YORK, Aug 23- Oil prices rose more than 1 percent on Tuesday, reversing early losses, after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market. Although it has not said if it will join an effort to curb production at a meeting of OPEC and other...

  • *Iraq not open to capping output, Abadi says. BAGHDAD, Aug 23- Iraq's prime minister said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC agreement to lift prices. "And the capping, we are not open to that because Iraq is still below what it should produce," Haider al-Abadi...

  • NEW YORK, Aug 23- Oil prices rose on Tuesday, reversing early losses, after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market. Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western sanctions in January and...

  • NEW YORK, Aug 23- Oil prices jumped as much as 2 percent on Tuesday, reversing early losses, after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market. Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western...

  • *Russia waiting for internal OPEC agreement, says source. DUBAI/ LONDON, Aug 23- Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month. Tehran refused to join a previous attempt this year...

  • TEHRAN, Iran— The cyber-arm of Iran's powerful Revolutionary Guard says it has summoned, detained and warned some 450 administrators of social media groups in recent weeks. The announcement Tuesday, carried on a website affiliated with the Guard's cyber arm, says those detained used social media like the messaging app Telegram, which is popular in Iran.

  • In this view, Saudi Arabia is increasing output as a warning to rivals that if there is no agreement on a production freeze it has the means to continue raising its output and intensify the pain for all oil exporters. Saudi Arabia may have resorted to volume warfare in the past to encourage agreement on output and punish non-compliance. At least this time around,...

  • BAGHDAD, Aug 23- Iraq on Tuesday asked foreign oil companies to increase oil output and exports, as Baghdad joined those spotlighting production potential ahead of a major energy gathering late next month. Oil Minister Jabar Ali al-Luaibi, who took up his post this month, met in Baghdad with oil companies operating in Iraq. Iraq is OPEC's second-largest producer...

  • LAUNCESTON, Australia, Aug 23- A surge in China's diesel exports last month to record levels is probably the last thing refiners in the rest of Asia wanted to hear, but they should probably worry more about rising crude oil prices. For example, the premium of gasoil, the broad term for middle distillates that include diesel, in Singapore over Dubai crude averaged...

  • A supporter of Turkish President Recep Tayyip Erdogan waves a flag against an electronic billboard during a rally in Kizilay Square on July 18, 2016, in Ankara, Turkey.

    Turkey's central bank cut borrowing costs for the sixth straight month on Tuesday, lowering its overnight lending rate by 25 basis points despite high inflation and worries about possible credit rating downgrades.

  • TEL-AVIV, Israel _ Gazit-Globe Ltd. on Tuesday reported second-quarter earnings of $25.2 million. On a per-share basis, the Tel-Aviv, Israel- based company said it had profit of 12 cents. Gazit-Globe shares have risen 14 percent since the beginning of the year.

  • CAIRO— WikiLeaks' giant data dumps have rattled the National Security Agency, the U.S. Democratic Party, and the Saudi foreign ministry. But its spectacular mass-disclosures have also included the personal information of hundreds of people— including sick children, rape victims and mental health patients, The Associated Press has found.

  • LAUNCESTON, Australia, Aug 23- A surge in China's diesel exports last month to record levels is probably the last thing refiners in the rest of Asia wanted to hear, but they should probably worry more about rising crude oil prices. For example, the premium of gasoil, the broad term for middle distillates that include diesel, in Singapore over Dubai crude averaged...

  • SINGAPORE, Aug 23- Pakistan is taking another step towards becoming a key buyer of liquefied natural gas, signing a deal to purchase a Floating Storage and Regasification Unit for its second import terminal. Along with Egypt and Jordan, Pakistan was a newcomer to the LNG import market in 2015, helping drive up demand and absorb growing world supplies from a wave...