Business Middle East

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • BRUSSELS, Oct 1- Europe will tell the United States, Japan and Canada next week that it is acting to resolve its sovereign debt crisis, but that U.S. fiscal policy and slowing growth in Japan and China also pose risks to the global economy.

  • NAIROBI, Oct 1- Egypt's Citadel Capital could be an investor in Uganda's proposed $2.5 billion oil refinery project, the Egyptian private equity firm's managing director said.

  • UNITED NATIONS, Oct 1- Syria accused the United States, France, Qatar, Saudi Arabia and Turkey on Monday of hijacking the country's 18- month conflict between government forces and pro-democracy rebel groups by supporting "terrorism" with arms, money and foreign fighters.

  • *China's factory activity shrinks for 2nd month in Sept. NEW YORK, Oct 1- Brent crude fell slightly on Monday in choppy trading as oil markets balanced better-than-expected U.S. manufacturing data against signs of economic weakness in Asia and evidence of a new recession in the debt-saddled euro zone.

  • In the Platts window, Statoil bought a Urals cargo from Gunvor loading Oct 14-18 from Primorsk at dated Brent minus $1.90 per barrel, some 45 cents weaker than prices last week. Azeri Light also weakened by 50 cents after Socar offered the grade from Supsa or Ceyhan for Oct 19-23 delivery at dated Brent plus $2.50.

  • SINGAPORE, Oct 1- India's Reliance Industries has sold 50,000-55,000 tonnes of October naphtha at premiums slightly above $35 a tonne to Middle East quotes on a free-on-board basis, reflecting a firm market, traders said on Monday.

  • *Qatar Islamic Bank also in market, may issue sukuk this week. By Rachna Uppal DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. FGB may soon be joined by another regional bank, Qatar Islamic Bank, which is expected to issue a sukuk this week, following investor meetings.

  • *India, Middle East, Africa to lead high-tech product demand. have more disposable income and a heavy appetite for technology products like cell phones, tablets and laptops, " Ken Rankin, high-tech marketing director at UPS in Atlanta, said in a Friday interview with Reuters.

  • Oil Pump

    On June 30, 2009, oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event.

  • off shore oil rig

    Exxon Mobil and Rosneft are planning to drill in the Kara Sea that holds enough oil to supply the world for five years. But environmentalists fear nuclear radiation.

  • Behind the Bernanke Rally: What Must You Know?

    Conventional wisdom suggests the Fed intends to drive investors into stocks, but there may be more than meets the eye. Larry Kudlow gets details from Brian Kelly, founder of Shelter Harbor Capital.

  • Could Mideast Trump Economy with Voters?

    Attention has been squarely on the economy, but as tensions escalate overseas, Larry Kudlow looks at whether national security could be the issue that decides the election.

  • An aerial view looking south along the Mediterranean coast of the walled old city of Akko in northern Israel.

    Israel is interested in developing natural gas alternatives in the eastern Mediterranean. The problem is that it is in contested waters claimed by not only Israel, but the Palestinian Authority, the Republic of Cyprus and Turkey.

  • Indonesian President: Free Speech Is a Human Right

    Susilo Bambang Yudhoyono, President of Indonesia, discusses the violence in the Middle East, shares his opinions on free speech, and makes the case for investing in his country. "There is a limitation in exercising a human right," he says.

  • oil_price_down2.jpg

    The Saudis have moved to pump more oil, the US sits on increased crude supplies, the market has gotten edgy over Eurozone economic instability, and FedEx cut it profit outlook — all of which drove the price of oil lower for three straight days to its lowest level in over a month.

  • Turmoil in the Middle East

    Security controls have caused the United States to close embassies and consulates in Libya, Tunisia, Yemen, Egypt and others as Middle East turmoil continues. Mark Steyn, author of "After America," provides perspective.

  • What's Next? $90 Oil?

    CNBC's Sharon Epperson takes a look what fueled Wednesday's dramatic slide in oil futures -- the biggest drop in two months -- and where prices could be headed from here.

  • saudi_oil_200.jpg

    Saudi Arabia has offered its main customers in the US, Europe and Asia extra oil supplies through the end of the year, a sign the world’s largest exporter is worried about the impact of rising prices on the global economy.  The FT reports.

  • syria_flag_cracked_200.jpg

    In an interview with OilPrice.com, the president of a private intelligence company discusses whether rebels can defeat Syria's President Bashar al-Assad.