With one luxury hotel already up and running in Shanghai and five more properties under development there, Jumeirah Group’s Executive Chairman says he’s really excited about China.
No commercially exploitable oil had been discovered in Kenya until Tullow Oil began drilling this year in the blazing savanna of the Rift Valley, about 250 miles northwest of Nairobi, the New York Times reports.
The vessel will open as the centrepiece of an entertainment village, including a maritime museum, in Port Rashid, where it has been berthed since it was retired from service in 2008.
CNBC's Sharon Epperson on oil price action in the day ahead, with an outlook on EU sanctions against Iran and tomorrow's meeting with Western countries about its nuclear program.
Airlines, trucking companies and other big energy consumers are betting on further oil price falls, with many reluctant to lock in at current levels amid fears prices could plunge if the global economy weakens further. The FT reports.
"We are going to see battles over the constitution in Egypt over the longer term but in the short term we could also see unrest in terms of how much power, Morsi actually has, and as we know the military have grabbed back a lot of powers," David Hartwell, senior middle east and North Africa analyst at IHS, told CNBC.
Trade on Egypt’s stock market was suspended as stocks were surging on Monday but even so the market closed 7.6 percent higher, the first reaction to the announcement of Mohamed Mursi as Egypt’s new President. The surge places the index among the world’s best performers once again.
The new chief executive of Airbus says he is ready to “bet” that the European aircraft maker’s planned new A350 widebody passenger jet will not suffer the same three-year delay that Boeing had with its 787 Dreamliner, the Financial Times reports.
Oil fell to its lowest levels in a year and a half on Thursday, the outlook for oil remains weak and sanctions imposed on Iran are likely to make matters worse, Dan Yergin, co-founder and chairman of energy research consultancy Cambridge Energy Research Associates (IHS CERA) told CNBC.
With a job fair on Wall Street, America’s financial titans are making a major push to find fresh talent among returning war veterans.
In ten days on July 1st a sweeping European Union ban on Iranian imports will go into effect in response to the Islamic Republic’s burgeoning nuclear program. In addition, and just as importantly, EU based insurance firms will no longer be able to insure any ship carrying Iranian oil.
On June 14, the Department of Justice unsealed an indictment against three American tax preparers for helping clients avoid taxes by moving money to Israel.
The death of Saudi Arabia’s Crown Prince Nayef bin Abdulaziz - the half-brother of King Abdullah and heir to the throne - comes less than eight months after the death of Sultan bin Abdulaziz, the previous Crown Prince, and again brings to the fore the ambiguous issue of succession.
Turkey’s economy, which grew by a stellar 8.5 percent last year, will manage to achieve a soft landing this year despite rising external risks such as the euro zone debt crisis, the country’s finance minister Mehmet Simsek told CNBC on Tuesday.
Exxon Mobil will continue to be robust and will maintain record levels of investment, valued at $27 billion in 2011, in the next couple of years despite the downturn in global oil demand and fluctuations in prices, Rex Tillerson, CEO of Exxon Mobil, told CNBC on Tuesday.
Despite the dismal jobs report, there's some good news: Gas prices are falling with at least two states reporting $2.99 a gallon. More states could see gas below $3.
Researchers at Kaspersky Lab, which first reported the virus Monday, believe Flame was written by a different group of programmers from those who had created other malware directed at computers in the Middle East, particularly those in Iran, the New York Times reports.
Russia’s typical out-of-step response to global events – the latest its refusal to condemn the Assad regime in Syria – show its increasing insignificance on the world stage, Nouriel Roubini, chairman of Roubini Global Economics and Ian Bremmer, president of Eurasia Group, argue in an op-ed in the Financial Times
The Islamist candidate of the Muslim Brotherhood will face former President Hosni Mubarak’s last prime minister in a runoff to become Egypt’s first freely elected president, several independent vote counts concluded Friday morning, the NYT reports.
This Memorial Day weekend, motorists will find gasoline plentiful and at the lowest price it’s been for two years. Good news. And it may get better. The Christian Science Monitor reports.