Business Middle East

  • *Kuwait index posts biggest rise in over two years. DUBAI, Jan 22- Share prices in Kuwait jumped in very heavy trade on Sunday, the top performing market in a strong Gulf region, while tax fears continued to weigh on prices in Egypt. The narrower Kuwait 15 index of blue chips is up 9.6 percent.

  • DUBAI, United Arab Emirates— New fire safety rules have come to Dubai after a series of skyscraper fires that marred its futuristic skyline, but authorities offered few details Sunday about how they'll force owners to replace flammable siding with better material. Most of the fires have been fueled by paneling on the sides of many buildings in Dubai, known as...

  • Ruling Justice and Development Party and main opposition Republican People's Party lawmakers scuffle at the parliament in Ankara during deliberations over a controversial 18-article bill to change the constitution to create an executive presidency January 11, 2017.

    President Erdogan says the reform will provide stability and prevent a return to the fragile coalitions of the past.

  • As the 45th US President is inaugurated in the USA, the headline on the Evening Standard newspaper reads 'Trump's time has come' on 20th January 2017 in London, England, United Kingdom.

    NBC News takes a glance at what people around the planet are saying about America's new leader.

  • *Germany will turn to China if Trump launches trade war. BERLIN, Jan 20- Germany will need a new economic strategy geared toward Asia should the new U.S. administration start a trade war with China, Vice Chancellor Sigmar Gabriel said on Friday, warning against protectionism hours after President Donald Trump was sworn in. The leader of the left-leaning Social...

  • The deal will come after Iran, which had not directly purchased a Western-built plane in nearly 40 years, signed contracts with Europe's Airbus and U.S. rival Boeing last year to purchase about 180 jets. That became possible after an agreement between Iran and six major powers lifted most international sanctions imposed on Tehran, in exchange for Iran curbing...

  • TOULOUSE, Jan 20- A deal for Iran to buy 20 short-haul passenger aircraft from ATR should be signed imminently, the head of the European planemaker told Reuters on Friday. The deal will come after Iran, which had not directly purchased a Western-built plane in nearly 40 years, signed contracts with Europe's Airbus and U.S. rival Boeing last year to purchase about...

  • That's why Sabine Choucair was invited to Davos, quips a quick-witted panel moderator. The Lebanese-born, curly-haired artist in baggy green trousers and with a frequent raspy laugh made her debut this week at the World Economic Forum in Davos, Switzerland, a special invitee more accustomed to entertaining refugees than livening up serious thought-fests.

  • MILAN/ SINGAPORE, Jan 20- Asian spot LNG prices fell sharply this week, with a pick up in supply forcing a Russian producer into accepting lower bids, while prices in southern Europe held firm. Rival bids may have been as much as 70 cents below the winner, indicating the depth of bearish sentiment after production restarts from Angola and Australia last week boosted...

  • *Revenue from North America up 4 pct. Jan 20- Schlumberger NV said on Friday that it does not expect a "dramatic" short-term recovery in international markets, compared with North America where shale producers are already ramping up drilling activity. The world's No.1 oilfield services provider reported a more-than-8-percent drop in fourth-quarter revenue...

  • *China is key engine for global oil demand growth. *Trump promised to confront China, boost oil independence. DAVOS, Switzerland, Jan 20- Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil.

  • *China is key engine for global oil demand growth. *Trump promised to confront China, boost oil independence. DAVOS, Switzerland, Jan 20- Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil.

  • *Shanghai crude futures were to give China global pricing power. SINGAPORE/ BEIJING, Jan 20- China's plans to create a new crude futures contract to compete with global pricing benchmarks have been shelved due to market resistance, five sources with knowledge of the matter said, dealing a blow to Shanghai's ambitions to be a leading energy trading hub.

  • Turkey is not in a currency crisis: Deputy PM

    Turkish Deputy Prime Minister Mehmet Şimşek explains how his country can play a role when the conflict on its borders is resolved and focus moves to rebuilding.

  • SANTIAGO, Jan 19- Middle Eastern private equity investor Abraaj Group has bought a majority stake in Chile's private home furnishings retailer Casaideas in its first foray into the country, Abraaj said on Thursday. Casaideas runs more than 50 stores in South America, including 33 in Chile and 16 in Peru. Abraaj has made a number of investments in other countries...

  • NEW YORK— The families of victims of terror attacks in Paris, Brussels and Israel are blaming social media companies including Facebook and Twitter for facilitating communications among terrorists. "If you or I tried to send money to Hamas, you wouldn't get around the block," said Robert Tolchin, a lawyer for the families of Brussels attack victims Alexander and...

  • *Iran frustrated at slow progress on banking. LONDON/ ANKARA, Jan 19- The Royal Bank of Scotland has rebuffed efforts by the British government, a major shareholder, to coax the lender into facilitating trade with Iran as it seeks to avoid risky business, sources with knowledge of the discussions say. In recent months British officials have sought to boost business...

  • DUBAI, Jan 19- Saudi Arabia's crude oil exports in November rose to 8.258 million barrels per day from 7.636 million bpd in October, official data showed on Thursday. But Riyadh led OPEC and other rival producers in December to reach their first deal since 2001 to curtail oil output and ease a global glut which had strained many producers' budgets.

  • WASHINGTON, Jan 19- When world powers agreed in 2015 to lift sanctions on Iran in return for curbs on its nuclear program, the deal's supporters in the United States, Europe and Tehran hoped renewed trade and investment could boost Iran's private sector and weaken the state's hold on the economy. But a Reuters review of business accords reached since then shows...

  • *In May 2016, South Korea's Daewoo Engineering and Construction Co. announced it and Hyundai Engineering and Construction had agreed to build a $10 billion oil refinery on Iran's southern coast. The company developing the refinery, Bahman Geno, is owned by a Setad unit, Tadbir Energy. A Bahman Geno official said the sides are still conducting negotiations.