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Middle East

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  • BEIJING/ SINGAPORE, July 29- Any attempt by Iran to sell to China millions of barrels of ultra light crude built up in tankers over the last 2-1/ 2 years of sanctions is likely to be thwarted by poor refining margins and an outage at a major importer of the oil. Traders and company officials say Iran has little choice but to target China to buy the crude known as...

  • *U.S. crude for September delivery dropped 25 cents to $47.73 a barrel as of 0003 GMT, after ending the previous session up 59 cents. The contract fell 17 cents in the previous session, and at one hit $52.28, its lowest since Feb. 2 on concerns about the stock market plunge in China, the world's largest energy consumer. *European Union foreign policy chief Federica...

  • *Q2 net profit 1.5 bln dirhams vs 2.51 bln dirhams a yr ago. DUBAI, July 28- Abu Dhabi- listed telecoms firm Etisalat missed analyst estimates by reporting a 40 percent fall in second-quarter net profit on Tuesday that it blamed on its troubled Saudi Arabia affiliate Mobily and foreign exchange losses. Etisalat, which operates in about 19 countries across the...

  • FRANKFURT, July 28- Business planning software start-up Anaplan is nipping at the heels of industry leaders SAP, Oracle and IBM, with sales of its cloud-based service tripling in each of the past three years as it seeks to shake up the market. While major players like SAP, Oracle's Hyperion business and IBM's Cognos and Applix units have been forced to offer...

  • DUBAI, United Arab Emirates— The Middle East's biggest sea port is growing. Dubai port operator DP World said on Tuesday it is beginning a $1.6 billion expansion of the Gulf commercial hub's sprawling Jebel Ali port. Jebel Ali is the centerpiece of government-backed DP World's network of more than 65 marine terminals around the world.

  • State-owned KNPC commissioned a consortium including Spain's Tecnicas Reunidas, China's Sinopec and South Korea's Hanwha Engineering and Construction to build the main process units of the refinery, KUNA said. A consortium including Daewoo Engineering and Construction, Hyundai Heavy Industries and Fluor Corp of the United States will build support...

  • It's not New York, but Ota, a town north of Tokyo with an economy powered by Japanese automaker Subaru. It's here that Subaru's parent company, Fuji Heavy Industries Ltd, got its start building engines and the Hayate fighter plane for the Imperial Army in the 1940 s. A recent influx of foreigners has transformed the Subaru hub, making it a rare example of...

  • GAZA CITY, Gaza Strip— About 100 Palestinian teachers have departed the impoverished Gaza Strip for potential teaching positions in Qatar. Two buses with banners praising Qatar and its emir dropped off the teachers Tuesday afternoon at the Gaza side of the border crossing with Israel. Qatar recently launched a series of initiatives in Gaza, building a...

  • DUBAI, United Arab Emirates— The United Arab Emirates has slashed gasoline subsidies, announcing Tuesday that it will raise the cost of a liter of regular gasoline by 24 percent amid globally low oil prices that have cut into the country's revenues. Starting Aug. 1, drivers will pay 2.14 dirhams per liter of gasoline at the pump instead of 1.72 dirhams, or about...

  • DEARBORN, Michigan— Ford Motor Co.' s net income jumped 44 percent to $1.9 billion in the second quarter as global sales rose and customers paid more for new trucks and SUVs with premium features. Ford pulled off a record quarterly profit of $2.6 billion in North America even though dealerships weren't fully stocked with its best-selling vehicle, the F-150...

  • TEL AVIV, Israel _ Radware Ltd. on Tuesday reported second-quarter profit of $7.2 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share. Radware shares have fallen roughly 9 percent since the beginning of the year.

  • LONDON, July 28- Emerging stocks languished near a two-year low on Tuesday after Chinese shares took another beating while currencies, mired around multi-year lows, were pulled in different directions by the rising dollar and falling oil prices. MSCI's emerging market stock index was flat after Chinese shares closed down 1.7 percent with Beijing scrambling...

  • KUALA LUMPUR, Malaysia— Long-haul budget carrier AirAsia X said Tuesday it expects to return to operational profit by the end of the year and is open to foreign investment. AirAsia X has suffered losses in the past two years and its share price has plunged to near record lows at around 0.20 ringgit, far below its IPO price of 1.25 ringgit. Malaysia- based AirAsia X has...

  • PARIS, July 28- France's largest telecom operator Orange inched closer in the second quarter to a long-awaited recovery as customers shifted to premium high-speed mobile and broadband services, allowing it to confirm annual profit, debt and dividend targets. Analysts welcomed what they said was a slight beat on revenue and core profit as strong commercial...

  • LONDON— BP reported a second-quarter loss Tuesday after the London- based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident. The net loss of $5.82 billion compared with net income of $3.37 billion a year earlier. The report is the first since BP announced a deal that will provide a further $18.7 billion to five U.S....

  • BOSTON— Some U.S. colleges with overseas-study programs won't touch Ukraine. Tufts University, on the other hand, is drawn to the turmoil in the former Soviet republic, which the U.S. State Department deemed dangerous for travel. The potential to help activists and scholars, Tufts professor Peter Levine says, outweighs the risks posed by an unstable country.

  • LAUNCESTON, Australia, July 28- Weakness in global oil benchmark Brent has prompted China to buy more crude from Africa. For the Angolans, the large boost in July exports to China will be a welcome change, as they lost their number two spot behind Saudi Arabia in the first six months of 2015 to Russia, according to Chinese customs data. China imported 19.011 million...

  • NEW YORK, July 27- Crude oil futures hit four-month lows on Monday after a steep drop in China's stock markets spread concerns about the economic health of the world's biggest energy consumer, amid evidence of a growing crude glut. Brent crude oil was down 95 cents, or 1.7 percent, at $53.67 a barrel by 11:35 a.m. EDT. U.S. crude slipped 55 cents, or 1.2 percent, to $47.59,...

  • TEL AVIV, July 27- Teva Pharmaceutical Industries has agreed to buy Allergan Plc's generic drugs business for $40.5 billion in a cash and stock deal that will turn the Israeli company into one of the world's largest pharmaceutical firms. It also will allow Dublin- based Allergan, the third-largest generic drugmaker in the United States, to focus on branded drugs...

  • *Iran deal likely boosted industry expectations-economist. BERLIN, July 27- Business confidence in Germany unexpectedly improved in July after two monthly drops as an agreement between Greece and its creditors for talks on a third bailout lifted the mood at firms in Europe's largest economy. Ifo president Hans-Werner Sinn said the easing of the crisis had...