×

Business Middle East

  • SINGAPORE, Oct 9- Asia's fuel oil cash differentials recovered on Tuesday as low prices helped to stir up buying interest. Cash differential for 180- centistoke fuel oil narrowed more than a dollar to a discount of 40 cents a tonne above Singapore spot quotes, the highest in three sessions.

  • CAIRO, Oct 9- Egypt has settled a row with a Dubai- based developer over a land contract reached when Hosni Mubarak was in power, a minister said on Tuesday, a deal that could help remove uncertainties that have depressed interest in the once-booming property market.

  • JERUSALEM, Oct 9- The Bank of Israel appears content to keep interest rates on hold for now due to fears of higher housing prices while the local economy should weaken as the global downturn persists, minutes of the discussions of last month's decision showed.

  • *Uncertainty over Spain and Greece pressures euro. LONDON, Oct 9- A stark warning from the IMF about the global growth outlook and the prospects for Spain and Greece sent European stocks and the single currency lower on Tuesday, while oil rose on escalating tensions in the Middle East.

  • LONDON, Oct 9- Brent crude rose by more than $1 on Tuesday as rising tension between Turkey and Syria stoked oil supply concerns.

  • McCain Explains Romney's Middle East Rescue Plan

    Sen. John McCain, (R-AZ), discusses why he believes the Middle East has become a more dangerous place in the past four years and why the U.S. needs a major foreign policy change.

  • CAIRO, Oct 9- Egyptian private equity firm Citadel Capital plans to invest $4 billion or more in Egypt over the next three years and has an eye on infrastructure and energy-related projects, its chairman said on Tuesday.

  • *United Spirits surges on hopes for Diageo deal. MUMBAI, Oct 9- Indian shares recovered on Tuesday from two previous sessions of losses as dented stocks such as Infosys rose, while private banks such as ICICI Bank gained on hopes their quarterly earnings would prove resilient.

  • Turkish President Abdullah Gul said on Monday the "worst-case scenarios" between his country and Syria were now playing out, fuelling concerns that the 18- month-old conflict in Syria may spread to other countries in the region.

  • JERUSALEM, Oct 9- Worries of renewed housing price increases and a belief that a weaker shekel should support exports despite a weak global economy led the Bank of Israel to keep short-term interest rates unchanged last month, minutes of the discussions showed. The central bank left its benchmark interest rate.

  • BRUSSELS, Oct 9- The head of NATO said on Tuesday that the 28- member military alliance had plans in place to defend Turkey against attack from Syria if necessary, but that he hoped the two countries would find a way to stop tensions escalating.

  • Oct 9- Abu Dhabi Statistics Centre released the following September consumer price data for the Gulf Arab emirate on Tuesday. ABU DHABI CONSUMER INFLATION 09/ 12 08/ 12 09/ 11 pct change month/month 0.3 -0.1 0.4 pct change year/year 1.1 1.2 1.0.

  • DUBAI, Oct 9- Iran will manage to bring its high inflation lower and return to growth next year despite Western sanctions over its nuclear programme, according to projections from the International Monetary Fund.

  • AMSTERDAM, Oct 9- When Koen Olthuis finally landed his first job after graduating as an architect, his new firm wouldn't let him work on the most historic or prestigious accounts in Amsterdam's 17th century centre.

  • ISTANBUL, Oct 9- The Turkish lira eased slightly and bond yields inched down on Tuesday as a surprise fall in August industrial output and a cut in official growth forecasts suggested the central bank will keep monetary policy loose for longer.

  • *Nordic spot price for Wed seen at 36.4 euros/ MWh. Tuesday delivery was seen firming to 36.4 euros per megawatt-hour, compared with 33.5 euros on Monday. Combined windpower output in Denmark and Sweden was forecast to fall from around 3,000 MW on Tuesday to 1,600 MW on Wednesday, while colder weather was to boost consumption by 850 MW to 44,200 MW.

  • BRUSSELS, Oct 9- The head of NATO said on Tuesday the military alliance had plans in place to defend Turkey against attack if needed. "We have all necessary plans in place to protect and defend Turkey if necessary," Secretary-General Anders Fogh Rasmussen told reporters before a meeting of the alliance's defence ministers in Brussels.

  • LONDON, Oct 9- Iraq's oil exports are expected to rise to their highest in decades this month and production is on course to more than double by 2020, as it cements its place as OPEC's second-biggest producer after Saudi Arabia.

  • SEC, the Gulf's largest utility, has a 452 billion riyal, 10- year investment plan as it speeds up delivery of its power projects to meet state infrastructure demands.

  • *Oil jumps on supply concerns as Middle East tension mounts* Uncertainty over Spain and Greece pressures euro By Richard Hubbard. LONDON, Oct 9- A stark warning from the IMF about the global growth outlook and the prospects for Spain and Greece sent European stocks and the single currency lower on Tuesday, while oil rose on escalating tensions in the Middle East.