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Business Middle East

  • ISTANBUL, Feb 23- Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non- OPEC producers, the semi-official Fars news agency reported. "If oil prices specifically surge over $55 or $60 per barrel, non- OPEC producers will increase their crude production to benefit the most from...

  • *Largest energy project in Israel's history. TEL AVIV, Feb 23- Developers of the Leviathan natural gas field have approved a $3.75 billion investment in the first phase of the largest energy project in Israel's history, they said on Thursday. Texas- based Noble Energy owns 39.7 percent of Leviathan, while Delek Drilling and Avner Oil Exploration, subsidiaries of...

  • CAIRO, Feb 23- Egypt's Finance Ministry is recommending a tax on stock exchange transactions of 0.2 percent on both sellers and buyers, a senior ministry official told Reuters on Thursday. Egypt imposed a stamp duty on buyers and sellers in May 2013, collecting more than 350 million Egyptian pounds in revenue before the levy was replaced in July 2014 by a 10...

  • The windfall came after 12 years of waiting patiently for the Gwadar port to emerge as the centrepiece of China's ambitious plans for a trade and energy corridor stretching from the Persian Gulf, across Pakistan, into western Xinjiang. "We had anticipated the Chinese would need a route to the Arabian Sea," Rafi Group Chief Executive Shehriar Rafi told Reuters.

  • BERLIN, Feb 23- Germany posted a record budget surplus last year helped by rising tax revenues and employment and low debt costs, creating conditions for solid economic growth in 2017 underpinned by higher state and household spending. Under Germany's budget law, the federal government's surplus of 7.7 billion euros will go into a fund for refugee-related...

  • Since then, political differences have emerged as the two Arab powers have diverged on the conflict in Syria, and an Egyptian court blocked the transfer of two Red Sea islands to Saudi Arabia which Cairo had agreed during Salman's visit. Al Ahly for Real Estate Development, Talaat Mostafa Group, Misr Italia, and Orbit Group were to build housing units in Saudi...

  • BERLIN, Feb 23- Germany posted a record budget surplus last year helped by rising tax revenues and employment and low debt costs, creating conditions for solid economic growth in 2017 underpinned by higher state and household spending. Under Germany's budget law, the federal government's surplus of 7.7 billion euros will go into a fund for refugee-related...

  • TEL AVIV, Feb 23- Developers of the Leviathan natural gas field said on Thursday they had approved a $3.75 billion final investment decision on the first phase of the largest energy project in Israel's history. Texas- based Noble Energy owns 39.7 percent of Leviathan, while Delek Drilling and Avner Oil Exploration, subsidiaries of Israel's Delek Group, each hold...

  • LONDON— Banking group Barclays said Thursday it will complete its restructuring plan six months early as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. They include retail banking in continental Europe and corporate banking in Africa and the Middle East, among others. Shares rose more than 4 percent in...

  • The United States should expect a "strong slap in the face" if it underestimates Iran's defensive capabilities, a commander of the elite Revolutionary Guards says, as Tehran concludes war games. Mexico reacts with anger to what one official calls "hostile" new U.S. immigration guidelines as senior Trump administration envoys begin arriving in Mexico City for...

  • The United States should expect a "strong slap in the face" if it underestimates Iran's defensive capabilities, a commander of the elite Revolutionary Guards says, as Tehran concludes war games. The White House has pushed back the release of a new executive order to replace the directive suspending travel to the United States by citizens of seven mostly Muslim...

  • The United States should expect a "strong slap in the face" if it underestimates Iran's defensive capabilities, a commander of the elite Revolutionary Guards says, as Tehran concludes war games. The White House has pushed back the release of a new executive order to replace the directive suspending travel to the United States by citizens of seven mostly Muslim...

  • The United States should expect a "strong slap in the face" if it underestimates Iran's defensive capabilities, a commander of the elite Revolutionary Guards says, as Tehran concludes war games. The United States is likely to refrain from suggesting major changes to its trading arrangement with Canada, according to a majority of economists polled by Reuters.

  • The United States should expect a "strong slap in the face" if it underestimates Iran's defensive capabilities, a commander of the elite Revolutionary Guards says, as Tehran concludes war games. Mexico will not accept new "unilateral" U.S. immigration proposals and will not hesitate to approach the United Nations to defend immigrants, Foreign Minister Luis...

  • *Listing of Aramco could raise up to $100 billion. Industrial and Commercial Bank of China International Holdings, a wholly-owned Hong Kong- based subsidiary of Industrial and Commercial Bank of China, and China International Capital Corporation are among the Chinese banks pitching for the deal, two other sources familiar with the matter said.

  • GENEVA, Feb 22- A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, which he said was the "...

  • Serco, which provides transport, health, justice, defense and security services in public departments and gets half of its revenues from the UK, left its 2017 outlook unchanged versus an update given in December. Britain's outsourcing sector has been hit in recent months by uncertainty created by the country's vote to leave the European Union, causing delays to...

  • JERUSALEM _ Mobileye NV on Wednesday reported fourth-quarter earnings of $32.6 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. Mobileye shares have increased 21 percent since the beginning of the year.

  • SCHILLINGSFUERST, Germany, Feb 22- More than a year ago, Mayar and Nawar Ballish escaped car bomb attacks in Damascus. Now the Syrian sisters, both students in their twenties, go to school by train past neat gardens and farms in the quiet hills of Bavaria, southern Germany. Around half a million Syrians have arrived in Germany over the past two years, part of a record...

  • Serco, which provides transport, health, justice, defense and security services in public departments and gets half of its revenues from the UK, left its 2017 outlook unchanged versus an update given in December. "Governments can be very capricious, they can change their minds and elections come along and at any one time we have some great political uncertainties...