Business Middle East

  • Oct 1- The following are the top stories on the New York Times business pages on Monday. *A tax break for wage earners for which the White House campaigned hard last winter now finds little support in Washington, as Congress struggles with deficits.

  • *ANKARA- Foreign Minister Ahmet Davutoglu to hold talks with Masoud Barzani, president of Iraq's autonomous Kurdistan region. ISTANBUL- Istanbul Chamber of Commerce releases September inflation data for Turkey's biggest city.

  • MOSCOW, Oct 1- Here are events and news stories that could move Russian markets on Monday. MOSCOW- Russian Prime Minister Dmitry Medvedev meets Facebook. MOSCOW- Moscow City Court starts hearings on appeal against conviction of three members of the punk band Pussy Riot;.

  • *Japan's business sentiment worsens- Tankan. SINGAPORE, Oct 1- Brent crude fell below $112 per barrel on Monday, reflecting investor concerns a shaky global economy may hurt oil demand following fresh evidence of weakness in China and Japan as well as persistent worries about the debt-saddled euro zone.

  • 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.

  • The prompt October/November spread climbed $1.25 to a backwardation of $10.25 a tonne, the highest in more than two weeks, according to Reuters data. Strong gasoline demand in the United States will see more naphtha being reformed into the transport fuel, instead of being sent to Asia.

  • DUBAI, Oct 1- Growth of premiums in Saudi Arabia's Islamic insurance industry has been slowing, but changes in the regulatory environment could reverse that trend in coming years.

  • ISTANBUL, Oct 1- Here are news, reports and events that may affect Turkish financial markets on Monday. The euro, oil and Asian shares fell on Monday, weighed down by uncertainty about Spain's bailout and concerns over slumping demand due to a slowdown in global growth, with data from Japan to China underscoring sluggish business activity.

  • 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.