Business Middle East

  • Showing its ambition to expand well beyond the core online taxi-hailing business, Uber announced on Tuesday the launch later this week of its UberEats meal delivery app service in Amsterdam, just as Takeaway.com, the local market leader in the Netherlands, is seeking a share listing. In addition, the company told reporters in Amsterdam that it will open the...

  • ALGIERS, Sept 27- Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources within the exporter group said the differences between the kingdom and Tehran remained too wide. We will consult with everyone else, we will hear the views, we will hear the secretariat of OPEC and also hear...

  • LONDON— The Associated Press has purchased the film archive of British Movietone, bolstering the news cooperative's collection with historic video from World War II, the Beatles' conquest of America and the romance between King Edward VIII and Wallis Simpson. The archive includes the first recorded speeches of personalities such as Mohandas K. Gandhi and...

  • ALGIERS, Sept 27- Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources within the exporter group said the differences between the kingdom and Tehran remained too wide. We will consult with everyone else, we will hear the views, we will hear the secretariat of OPEC and also hear...

  • RAMAT GAN, Israel, Sept 27- In early 2013, a young Israeli businessman registered a web domain in London for a company called NRGbinary.com. While it was initially registered in Britain, NRGbinary was run from Israel and sold its products to clients in the Middle East, Canada and South Africa. Israeli regulators say they never looked at the company, or others like it,...

  • ALGIERS, Sept 27- Saudi Arabia on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources within the exporter group said the differences between the kingdom and rival Iran remained too wide. We will consult with everyone else, we will hear the views, we will hear the secretariat of OPEC and also hear from...

  • SINGAPORE, Sept 27- An international group that monitors money laundering said on Tuesday that Singapore should pursue more offenders involved in international cases and take more action to confiscate suspicious funds moving through the city-state. "Singapore maintains one of the lowest domestic crime rates in the world and therefore the bulk of...

  • NEW DELHI, Sept 26- India will accelerate its building of new hydropower plants along three rivers that flow into Pakistan, a source familiar with the plan said on Monday, in a move likely to aggravate already tense relations with its neighbour a week after an attack on an Indian army base. The dispute looks set to be reignited after Prime Minister Narendra Modi...

  • Major oil producers are gathering in Algeria for a three-day meeting that could see moves to cut or freeze oil output in an effort to support oil prices. The Organization of the Petroleum Exporting Countries and other oil producers led by Russia are meeting informally on the sidelines of the International Energy Forum in Algeria from Sept. 26-28.

  • In a sign of growing ambition beyond its taxi business, Uber is gearing up to deliver meals in Amsterdam this week just as Takeaway.com, the restaurant ordering leader in the Netherlands, lists on the Amsterdam stock market. The plan include 16 cities in 12 European countries ranging from Moscow to Madrid to Manchester, 11 new cities in nine Asian countries-...

  • *Iran downplays chance of output freeze, some in OPEC hopeful. Key OPEC member Iran, the fourth largest crude exporter which is still trying to recapture output before Western sanctions in 2012, downplayed the chances of a deal while some OPEC members remained hopeful. "Unless there's an impressive production cut by OPEC on top of a freeze, I think we'll give back...

  • Commodities tomorrow:

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

  • GENEVA, Sept 26- Countries negotiating an international agreement on trade in services plan to meet in early December to try to finalize the deal, U.S. The Trade in Services Agreement, which would provide stronger international rules for sectors such as communications and banking, is being negotiated among 23 WTO members, including the 28- country European...

  • ZURICH, Sept 26- Luis Cantarell, who heads Nestle's Europe, Middle East and North Africa zone and has been an advocate of blurring the lines between food and pharmaceuticals, is stepping down after 40 years, the Swiss company said on Monday. Cantarell will be replaced in January by Marco Settembri, head of Nestle's water division, which will now be run by Maurizio...

  • *Iran downplays chance of output freeze, some in OPEC hopeful. Key OPEC member Iran, the fourth largest crude exporter which is still trying to recapture output before Western sanctions in 2012, downplayed the chances of a deal while some OPEC members remained hopeful. Implied volatility, a gauge of how much oil prices move, was at its highest since April 18, when...

  • WASHINGTON— Congress is poised to override President Barack Obama's veto of a bill that would allow families of Sept. 11 victims to sue Saudi Arabia for the kingdom's alleged backing of the terrorists who carried out the attacks that killed nearly 3,000 people. The legislation, known as JASTA, gives victims' families the right to sue in U.S. court for any role that...

  • RIYADH, Saudi Arabia— Saudi Arabia's King Salman is reducing the salaries and benefits of senior officials and the Cabinet cut bonuses for public employees on Monday, as lower oil prices continue to pinch the kingdom's economy. The royal decree orders a 20 percent reduction in the salaries of ministers, among them the king's successors: Crown Prince and...

  • NEW DELHI, Sept 26- India will accelerate its building of new hydropower plants along three rivers that flow into Pakistan, a source familiar with the plan said on Monday, in a move likely to aggravate already tense relations with its neighbour a week after an attack on an Indian army base. The dispute looks set to be reignited after Prime Minister Narendra Modi...

  • *OPEC/ non- OPEC graphic: http://tmsnrt.rs/2ctYZNY. ALGIERS, Sept 26- Iran downplayed on Monday the chances of OPEC and non- OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a price-eroding glut of crude. Oil prices have more than halved from 2014...

  • *Iran downplays chance of output freeze, some in OPEC hopeful. Key OPEC member Iran, the fourth largest crude exporter which is still trying to recapture output before Western sanctions in 2012, downplayed the chances of a deal while some OPEC members remained hopeful. Implied volatility, a gauge of how much oil prices move, was at its highest since April 18, when...