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Business Middle East

  • HOUSTON/ WASHINGTON, July 21- The United States is considering financial sanctions on Venezuela that would halt dollar payments for the country's oil, according to a senior White House official and an adviser with direct knowledge of the discussions. Sanctions prohibiting any transaction in U.S. currency by Venezuela's state-run oil firm, PDVSA, are among the...

  • JEDDAH, Saudi Arabia, July 21- A source close to Saudi Arabia's rulers has given further details of how Mohammed bin Nayef, the former crown prince, was summarily removed from his post last month. His addiction was a legacy of an Al Qaeda assassination attempt in 2009 that left shrapnel in his body. Sources close to him said he would not comment and has remained in his...

  • U.S. Secretary of State Rex Tillerson (R) meets with Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani at the State Department in Washington, U.S., June 27, 2017.

    Rex Tillerson approved of Qatar's efforts to implement an agreement aimed at combating terror financing.

  • Surfers ride the waves on a beach in Tel Aviv, Israel

    Israel is waking up to its dramatic shortfall in infrastructure compared to most developed economies and a potential increase in spending is bound to offer the private sector a raft of new opportunities.

  • BENGALURU, July 21- Organisers of conferences and trade shows are benefiting from a shift in the way marketing budgets are allocated, with companies spending less on advertising and more on events that allow them to connect directly with customers. Research and advisory firm Outsell predicts corporate budgets for business-to-business events in the giant...

  • LONDON, July 21- Vodafone, the world's second largest mobile operator, reported better-than-expected 2.2 percent revenue growth in its first quarter, reflecting a robust performance in Italy and Spain and an acceleration in demand in Turkey. "We made a good start to the year with a robust commercial momentum in Europe and accelerating growth in AMAP," Chief...

  • LONDON, July 21- Vodafone, the world's second largest mobile operator, reported better-than-expected 2.2 percent revenue growth in its first quarter, reflecting a robust performance in Italy and Spain and an acceleration in demand in Turkey. Chief Executive Vittorio Colao said the group had made a good start to the year in Europe, helped by demand for data...

  • The skyline of Doha, Qatar.

    It's time for negotiation and dialogue, not confrontation, says Yousef Ali Al-Khater, Qatari ambassador to the U.K.

  • MEXICO CITY, July 20- Mexican breadmaker Bimbo said on Thursday it agreed to buy U.S. firm East Balt Bakeries for $650 million. Bimbo, which expanded into India and Africa in recent months, and has plans to grow in China and the rest of Asia and the Middle East, said it hoped to close the transaction by the second half of 2017, pending regulatory approval.

  • *Qatar signs accord with U.S. amid Gulf dispute. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt imposed sanctions on Qatar last month, saying the gas-rich Gulf state finances Islamist militants throughout the region. But a Western official in the Gulf who has seen the document said it specifies actions Qatar will take by the end of the year, including...

  • Commodities tomorrow:

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

  • CHICAGO, July 20- China officials have agreed to allow imports of U.S. rice for the first time ever, U.S. Department of Agriculture Secretary Sonny Perdue said on Thursday. China opened its rice market when it joined the World Trade Organization in 2001 but a lack of phytosanitary protocol between China and the United States effectively banned imports, according...

  • DALLAS— The ban on laptops in the cabins of planes flying from the Middle East to the U.S. is over, as federal officials say that large airports in the region have taken other steps to increase security. A spokesman for the Department of Homeland Security said Thursday that all airlines and airports with flights departing for the U.S. had met the agency's first...

  • DUBAI, July 20- Kuwait ordered the expulsion of the Iranian ambassador and 14 other diplomats for alleged links to a "spy and terror" cell, Iranian and Kuwaiti media reported on Thursday, worsening an unusual public dispute between the two countries. Kuwait also told Iran's cultural and military missions to shut down, following a court case that increased...

  • LONDON/ FRANKFURT, July 20- Two global banks, Citigroup and Deutsche Bank, are beefing up their presence in Frankfurt to deal with the impact of Britain leaving the European Union. Deutsche Bank Chief Executive Officer John Cryan said in a video published on Thursday that the German lender expected to add new jobs in Frankfurt, where it will replicate a structure...

  • WASHINGTON, July 20- Some 180 airlines worldwide that fly directly to U.S. airports have complied with a first phase of enhanced security measures outlined in June and do not face any new restrictions, the U.S. Department of Homeland Security said on Thursday. Late Wednesday, the government confirmed it had lifted such restrictions on Saudi Airlines flights...

  • ATLANTIC BEACH, N.C.— Under pressure from President Donald Trump, North Carolina's governor announced his opposition on Thursday to drilling for natural gas and oil off the Atlantic coast, saying it poses too much of a threat to the state's beaches and tourism economy. "There is a threat looming over this coastline that we love and the prosperity it brings, and...

  • *Qatar signs accord with U.S. amid Gulf dispute. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt imposed sanctions on Qatar last month, saying the gas-rich Gulf state finances Islamist militants throughout the region. But a Western official in the Gulf who has seen the document said it specifies actions Qatar will take by the end of the year, including...

  • WASHINGTON, July 20- The U.S. Department of Homeland Security said Thursday that 180 airlines worldwide that fly directly to U.S. airports have complied with the first phase of enhanced security measures outlined in June. DHS spokesman David Lapan said no airlines are currently subject to in-cabin restrictions on large electronics including laptops.

  • Banks have been feeling the fallout of the feud with Saudi Arabia, the United Arab Emirates, Bahrain and Egypt, which cut diplomatic and transport ties with Qatar on June 5 and imposed economic sanctions. They accuse Qatar of financing Islamist militant groups and allying with their regional adversary Iran- allegations Qatar denies. The move prompted banks...