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Business Middle East


  • Markets Shift Focus From Supply to Demand Worry Thursday, 10 Mar 2011 | 11:45 AM ET

    Financial markets have quickly moved from worrying about things like Middle East oil supplies to whether the global economy is healthy enough to support demand for all sorts of assets.

  • Oil's Perfect Storm Thursday, 10 Mar 2011 | 10:21 AM ET

    A perfect storm may be blowing towards the global oil markets—with disastrous economic and political consequences to follow in the wake.

  • UK University Ex-Chief on Libya Funding Controversy Thursday, 10 Mar 2011 | 5:25 AM ET

    The London School of Economics should not have accepted research funding from a foundation run by the son of Libyan leader Muammar Gaddafi, the outgoing director of the London School of Economics told CNBC Thursday, but cuts in government funding will force governments to raise money more aggressively, he warned.

  • Tripoli Pours Old Notes Back in Circulation Thursday, 10 Mar 2011 | 4:41 AM ET
    Libyan leader Muammar Gaddafi

    Libya’s central bank has ordered banks to recirculate old currency in the first sign that the oil-rich north African state is facing liquidity problems amid international efforts to freeze the regime’s assets, reports the Financial Times.

  • Saudi Prince Alwaleed Calls for Citi Dividend Thursday, 10 Mar 2011 | 2:55 AM ET

    Wealthy Saudi investor Prince Alwaleed bin Talal expressed confidence in Citigroup's earnings potential and also called for the bank to issue a dividend to shareholders.

  • Aid for Bahrain, Oman, Would Be Positive for Stocks Thursday, 10 Mar 2011 | 12:59 AM ET
    Bahraini anti-government protesters gather in Pearl Square, in Manama.

    Foreign ministers from the Gulf Cooperation Council are expected to discuss an aid package in Riyadh, Saudi Arabia later Thursday, focused on help from the four countries with fortunate annual budgets to the other two: Oman and Bahrain.

  • Revolts Raise Fear of Migration in Europe Wednesday, 9 Mar 2011 | 11:47 PM ET
    Libyan opposition supporters demonstrate in Benghazi, Libya.

    Many in Europe worry that they will face new waves of illegal immigration not only from the liberated areas in the north, but from much of sub-Saharan Africa as well, the New York Times reports.

  • saudi_oil_200.jpg

    Oil prices are finally retreating from two-and-half year highs but the market is bracing for more volatility as anti-government protests threaten to spread beyond the borders of Libya towards the world's top exporter Saudi Arabia.

  • Oil Shock Wednesday, 9 Mar 2011 | 7:31 PM ET
    Oil Shock

    Discussing who is right in Libya and whether a Gaddafi comeback would be bad for oil, with Michael Levi, Fellow for Science and Technology, Council on Foreign Relations and Helima Croft, Barclay's geopolitical analyst.

  • A World Awash in Oil—and Higher Prices Wednesday, 9 Mar 2011 | 5:53 PM ET

    It is no surprise that the normal supply and demand economics in the oil markets have been replaced with fear and speculation. And today, two major players went on the offensive.

  • Oil Spike Due to 'Market Pricing in Risk': Exxon CEO Wednesday, 9 Mar 2011 | 3:33 PM ET

    The spike in the price of an oil barrel has been caused by “market pricing and risk premium on the future oil supply,” not a lack of supply, Rex Tillerson, CEO and chairman of Exxon Mobil, told CNBC Wednesday.

  • Exxon CEO on Oil Speculation Wednesday, 9 Mar 2011 | 2:05 PM ET
    Exxon CEO on Oil Speculation

    Sharing his thoughts on how much of the $20 jump in oil prices is due to speculation or is just companies "pricing in risk," with Rex Tillerson, ExxonMobil chairman/CEO

  • Dennis Gartman: Market Getting Inured to Middle East Wednesday, 9 Mar 2011 | 1:46 PM ET

    If news out of the Middle East doesn't get any worse than it has been, Gartman thinks the market will quickly become inured to the unrest.

  • Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011

    Advocates of creating a no-fly zone over Libya continue to push the line that it can be done antiseptically, almost peacefully.

  • Gaddafi Money Casts Shadow in Hollywood Wednesday, 9 Mar 2011 | 2:39 AM ET
    Hollywood sign

    Things have gotten chilly here for Natural Selection, the film production company backed by Col. Muammar el-Gaddafi’s son Saadi, the New York Times reports.

  • High gas prices in California

    Gasoline is spiking to $4 a gallon and above in some parts of the U.S., but the worst of the price shock could be over—unless oil production is threatened beyond Libya.

  • Stocks End Higher as Banks Gain, Energy Falls Tuesday, 8 Mar 2011 | 4:41 PM ET

    Stocks ended higher on Tuesday as news that Bank of America would boost its dividend amid a stronger profit forecast than analysts expected lifted financials, and oil prices eased amid news OPEC is considering a boost in output. Bank of America and AmEx rose, while McDonald's fell.

  • Stocks Hold Strong Gains as Banks Advance Tuesday, 8 Mar 2011 | 4:08 PM ET

    Stocks ended higher on Tuesday as news that Bank of America would boost its dividend amid a stronger profit forecast than analysts expected lifted financials, and oil prices eased amid news OPEC is considering a boost in output. Bank of America and AmEx rose, while McDonald's fell.

  • The Looming Disaster of a Libya War Tuesday, 8 Mar 2011 | 3:47 PM ET
    A Libyan anti-government protester holds his old national flag in front of a wall covered with graffiti against Libyan leader Moamer Kadhafi in the eastern city of Tobruk.

    Establishing a no-fly zone over Libya is likely to be far messier and less effective than advocates like Senators John McCain and John Kerry are forecasting.

  • Mideast Oil Production Still Strong: Energy CEO Tuesday, 8 Mar 2011 | 1:34 PM ET

    Throughout the recent unrest in the Middle East, virtually no oil production has been affected, save in Libya, Sara Akbar, CEO of Kuwait Energy, told CNBC Tuesday.