Business Middle East

More

  • LONDON, July 28- A dollar retreat boosted emerging assets on Thursday, with stocks at new 11- month highs despite fresh wobbles on Chinese equity markets, while the Turkish lira continued its recovery, firming to one-week highs. MSCI's emerging equity index rose 0.25 percent despite pullbacks in Asian markets, where some concern is rising over volatility in...

  • SINGAPORE, July 28- India's initial plan to build-up its strategic petroleum reserves is not shaping out to be the dramatic event that some in the market had hoped could help reignite global oil demand. Indeed, India's initial SPR plan pales in comparison to a program that is ten-fold bigger in China and is a further sign that Asia's demand outlook may not be as...

  • *Adani Group building India's first transshipment port. *India expects to save millions of dollars in detour costs. New Delhi will grant billionaire Gautam Adani 16 billion rupees so-called "viability gap" funding to help the new port at Vizhinjam, on India's southern tip, win business from established hubs elsewhere in Asia.

  • THURSDAY, JULY 28 KIEV- National Bank of Ukraine monetary policy meeting- 0700 GMT. COLOMBO- Central Bank of Srilanka monetary policy committee meeting- 1230 GMT. PRAGUE- Czech Banking Association holds a press conference on the updated macroeconomic forecast- 0800 GMT.

  • STOCKHOLM, July 27- YouTube video star PewDiePie's company made 70 million crowns profit in 2015, an annual report filed in Sweden showed, following controversy over payments for video game promotion. He was among those named by the U.S. Federal Trade Commission this year as one receiving payments for posting positive videos and reviews of Warner Bros Home...

  • DUBAI, United Arab Emirates— Port operator DP World says it has reached a deal to help expand a seaport in Taiwan. The Dubai- based company said Wednesday it signed a memorandum of understanding with the state-run Taiwan International Ports Corporation to develop a seventh cargo terminal at Kaohsiung Port, Taiwan's largest harbor. Government-backed DP World...

  • CAIRO— Egypt is in the "final stages" of negotiating an agreement with the International Monetary Fund to secure a $12 billion loan over three years, while targeting more loans totaling $7 billion annually, according to a Cabinet statement. Amr el-Garhy, the finance minister, told the CBC TV network on Tuesday that Egypt is discussing a total of $12 billion from the...

  • LONDON, July 27- Emerging markets portfolio inflows rose to almost $25 billion in July from $13.3 billion in June, the Institute of International Finance said on Wednesday, citing the search by investors for higher yields after Britain voted to leave the European Union. Regionally, emerging Asia attracted the lion's share of the flows, with $19.1 billion,...

  • TEL AVIV, Israel _ Wix.com Ltd. on Wednesday reported a loss of $11.4 million in its second quarter. For the current quarter ending in October, Wix.com said it expects revenue in the range of $72 million to $73 million. Wix.com shares have climbed 39 percent since the beginning of the year.

  • LONDON, July 27- Emerging stocks touched 11- month highs on Wednesday, boosted by news of additional Japanese stimulus and shrugging off a sharp drop in mainland shares in China, where fears of a fresh regulatory crackdown are weighing. Some nerves were jangled by a 2 percent fall in Shanghai- listed shares, which posted their worst day in six weeks while the...

  • Quarterly sales shrank 8.4 percent to 2.65 trillion yen due to a stronger yen, which slams overseas earnings for exporters like Nissan. Yokohama- based Nissan, which makes the March subcompact, Infiniti luxury brand and the Leaf electric vehicle, kept its full-year forecast for a 525 billion yen profit, up slightly from the 524 billion yen earned the previous...

  • WEDNESDAY, JULY 27 TBILISI- National Bank of Georgia monetary policy committee meeting. POLOKWANE, South Africa- South African central bank deputy governor Daniel Mminele speaks at a business breakfast event in the city of Polokwane- 0700 GMT. THURSDAY, JULY 28 KIEV- National Bank of Ukraine monetary policy meeting- 0700 GMT.

  • VIENTIANE/ GENEVA, July 26- The United States said on Tuesday it hoped to announce in early August details of planned military cooperation and intelligence sharing with Russia on Syria, and a United Nations envoy said he would also aim to resume peace talks next month. Secretary of State John Kerry said Washington and Moscow, which support opposing sides in...

  • CAIRO, July 26- Egypt said on Tuesday it was close to agreeing an International Monetary Fund lending programme to ease its funding gap and restore market stability and was seeking to secure $7 billion annually over three years. Prime Minister Sherif Ismail ordered the central bank governor and minister of finance to complete negotiations for the programme...

  • CAIRO, July 26- Egypt said on Tuesday it was close to agreeing an International Monetary Fund lending program to ease its funding gap and restore market stability and was seeking to secure $7 billion annually over three years. Prime Minister Sherif Ismail ordered the central bank governor and minister of finance to complete negotiations for the program with...

  • VIENTIANE/ GENEVA, July 26- The United States said on Tuesday it hoped to announce in early August details of planned military cooperation and intelligence sharing with Russia on Syria, and a U.N. envoy said he would also aim to resume peace talks next month. Secretary of State John Kerry said Washington and Moscow, who support opposing sides in Syria's...

  • JERUSALEM _ Mobileye NV on Tuesday reported second-quarter earnings of $26.9 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share. Mobileye shares have risen 17 percent since the beginning of the year.

  • TEL AVIV, Israel _ Radware Ltd. on Tuesday reported a second-quarter loss of $1.3 million, after reporting a profit in the same period a year earlier. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share. Radware shares have fallen 19 percent since the beginning of the year.

  • TEL AVIV, Israel _ Check Point Software Technologies Ltd. on Tuesday reported second-quarter net income of $165.8 million. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share. Nine analysts surveyed by Zacks expected $420.7 million.

  • ABU DHABI, United Arab Emirates— The United Arab Emirates might not seem like an obvious spot to begin and end a globe-spanning flight promoting renewable energy. One way is by backing the Solar Impulse 2 solar plane, which ended its groundbreaking round-the-world flight on Tuesday in Abu Dhabi and counts Emirati renewable-energy company Masdar among its...