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Business Middle East

  • DUBAI, Oct 8- Saudi Arabia's share index hit a 10- week low and most other Gulf Arab bourses declined on Monday as slumping oil prices and a gloomy start to the week on world markets weighed on regional sentiment.

  • *Kirk also seeks to blacklist entire energy sector of Iran By Roberta Rampton. WASHINGTON, Oct 8- Republican Senator Mark Kirk, who last year co-authored a package of U.S. sanctions on Iran's banking and oil sectors, is working on new legislation that would further tighten the economic noose on Tehran, an aide to the lawmaker said Monday.

  • DUBAI, Oct 8- The World Bank's financial arm International Finance Corp plans to increase its investments in Yemen, Iraq and North Africa next year to help support development and job creation, a senior IFC executive said.

  • Morgan Stanley's Qatar head Khalid al-Subeai resigned last week to join the investment banking division of unlisted Barwa Bank, while Goldman's Qatar Chief Executive Tamim al-Kawari has joined investment bank QInvest, part-owned by Qatar Islamic Bank, as deputy CEO, according to several sources aware of the matter.

  • MORGANTOWN, W.Va.-- Protea Biosciences says it's started new international distributor partnerships with several companies in Israel, Poland, Spain, Portugal and Turkey. The Morgantown, W.Va.- based company says that reflects its continuing, successful expansion.

  • *World Bank says China economic slowdown could get worse. The World Bank on Monday cut its economic growth forecasts for East Asia and the Pacific region, home to two of the world's largest oil consumers, and said there was a risk the slowdown in China could be deeper and more prolonged than expected.

  • KARACHI, Oct 8- Pakistani stocks closed lower on Monday as investors booked profits after the announcement of the monetary policy. The Karachi Stock Exchange benchmark 100- share index ended 0.65 percent, or 102.38 points, lower at 15,652.01 on total volume of 118.93 million shares.

  • RIYADH, Oct 8- Saudi Electricity Co has awarded contracts for South Korea's Hyundai and Japan's Mitsubishi to build and supply equipment for a large power plant in Jeddah, SEC said on Monday. But SEC expects the more efficient plant, to burn much less fuel oil per unit of electricity produced.

  • OSLO, Oct 8- Norwegian oil and gas company DNO International don't yet know how big an oil payment it will receive from Iraqi authorities, a spokesman said on Monday. The Kurdistan Regional Government on Monday received a first installment of 650 billion Iraqi dinars from Baghdad to be distributed to foreign companies exporting oil.

  • PRAGUE, Oct 8- Czech Cal' 13 baseload fell on Monday on lower coal and oil while central European day ahead prices traded above Germany due to soaring peak prices in neighbouring Slovakia and Hungary as cross border capacity was limited in some hours, traders said.

  • *Iran currency down a third in 2 weeks. JOHANNESBURG, Oct 8- The impact of Iran's currency slide has reached beyond its borders, hitting shares of MTN Group, the South African mobile operator that derives nearly a tenth of its revenue from the Middle Eastern country.

  • LONDON, Oct 8- Britain is in danger of suffering a long-term loss of liquefied natural gas supply as top exporter Qatar sends only left-over short-term deliveries to the UK while more and more of its LNG goes to higher paying Asian customers. Analysts and British energy companies say the strategy rewards Qatar but puts Britain at a significant disadvantage.

  • DUBAI, Oct 8- Iran derided Israel's air defences as feeble on Monday, citing a drone incursion into its arch-foe's airspace, but did not say it had sent the aircraft shot down by the Israelis at the weekend.

  • *World Bank says China economic slowdown could get worse. The World Bank on Monday cut its economic growth forecasts for East Asia and the Pacific region, home to two of the world's largest oil consumers, and said there was a risk the slowdown in China could be deeper and more prolonged than expected.

  • LOS ANGELES-- Rumbling into its final four weeks, the presidential campaign is playing out on both coasts and multiple fronts, with Republican Mitt Romney seeking stature on foreign affairs and President Barack Obama raising political cash by the millions.

  • But the speech in many ways was also as much about style as it was about substance, and the 61- year-old Morsi, the first freely elected president in Egypt's history, used his address to project the image of an energetic leader in touch with the needs of the people.

  • LONDON, Oct 8- Iraqi Kurdistan's leading oil producer, Genel Energy, said it would keep crude exports flowing after the Kurdistan Regional Government finally received an initial payment from Baghdad. "We won't cut exports now," Genel Energy President Mehmet Sepil told Reuters. "

  • CAIRO, Oct 8- Egypt's foreign reserves fell by $84 million in September but held above the $15 billion seen as necessary to shore up the pound for a third straight month after foreign donors began fulfilling promises of aid.

  • By early afternoon in Europe, benchmark crude for November delivery was down $1.31 to $88.57 a barrel in electronic trading on the New York Mercantile Exchange. The widening spread between the Nymex and Brent contracts, now above $22, was attributed to higher U.S. output and supply risks in Europe and the Middle East.

  • By Dinesh Nair and David French. DUBAI, Oct 8- Kuwaiti telecoms operator Viva, part-owned by Saudi Telecom Co, has approached banks for a $400 million loan aimed at expanding its existing capabilities, two banking sources familiar with the matter said. Viva is Kuwait's third mobile operator, behind larger rivals Zain and Qatar Telecom unit Wataniya.