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Business Middle East

  • Taiwan's EVA Airways recently announced it will begin Yangon- Bangkok- Taipei flights on Oct. 19. Deputy Director of Civil Aviation Nweni Win Kyaw told The Associated Press several other airlines have recently announced direct flights to Yangon, including Korean Air, Japan's ANA and Germany's Condor.

  • DUBAI, Oct 3- Iranian riot police clashed on Wednesday with demonstrators and exchange dealers in the capital Tehran over the collapse of the rial, which has lost a third of its value against the dollar in a week, witnesses said.

  • *Retail trade rises 0.1 pct in August from July. BRUSSELS, Oct 3- Retail sales in the euro zone barely rose in August as motorists cut back spending on fuel during the normally busy driving months of the European summer, worried about the economy's slide towards recession.

  • *China, Europe services PMI disappoint. LONDON, Oct 3- Crude oil prices fell on Wednesday, as weak data from Europe and China dimmed the outlook for demand, while Europe's festering debt crisis added to the gloom. Brent November crude futures had fallen 96 cents to $110.61 a barrel by 1000 GMT.

  • KUWAIT, Oct 3- Kuwait's cabinet has asked the country's ruler to consider dissolving parliament, state news agency KUNA said on Wednesday, a widely-expected move after months of political deadlock.

  • TEHRAN, Iran-- Tehran's main bazaar has been closed as authorities tighten controls trying to halt the fall of Iran's currency after it hit a record low. The semiofficial Mehr news agency says the bazaar _ the traditional commercial hub in Iran's capital _ was closed for security reasons on Wednesday.

  • *Poland seen cutting rates as slowdown deepens. PRAGUE, Oct 3- The zloty led losses in central European currencies on Wednesday, while Polish bonds were a tad stronger ahead of a central bank decision, which is expected to make the third cut in interest rates in the region in a week. By 0909 GMT, the zloty.

  • Oct 03- New Islamic banks set up in Oman will struggle initially to compete with established conventional banks offering sharia-compliant services when the country opens up its banking market, Fitch Ratings says.

  • BRUSSELS, Oct 3- Retail sales in the euro zone barely rose in August as motorists cut back on spending on fuel during the normally busy driving months of the European summer, reflecting the weak economy as it heads into recession.

  • CAIRO, Oct 3- Egyptian private equity firm Citadel Capital said on Wednesday its consolidated second-quarter net loss narrowed to 124.2 million Egyptian pounds from a previously stated 180.5 million pounds a year earlier.

  • *China, Europe services PMI disappoint. LONDON, Oct 3- Crude oil prices fell on Wednesday, as weak data from Europe and China dimmed the outlook for demand, while Europe's festering debt crisis added to the gloom. Brent November crude futures had fallen 90 cents to $110.67 a barrel by 0830 GMT.

  • DUBAI, Oct 3- Qatar Islamic Bank, the Gulf Arab state's largest sharia-compliant lender, will return to global debt markets after two years on Wednesday with a new five-year sukuk, taking advantage of strong liquidity for regional issues.

  • Oct 3- Money supply in the United Arab Emirates fell 2.0 percent year-on-year at the end of July, its fourth decline in a row, after a 3.2 percent drop in the previous month, central bank data showed on We d nesday.

  • ZURICH, Oct 3- Swiss engineering group ABB. said on Wednesday it has won an order worth around $115 million from Saudi Electricity Company to improve the reliability of the transmission grid that feeds major Saudi railway interconnections.

  • BRUSSELS, Oct 3- EU antitrust regulators will decide by Nov. 8 whether to clear commodities trader Glencore's. $33 billion takeover of miner Xstrata, the European Commission said on its website on Wednesday.

  • DUBAI, Oct 3- Qatar Islamic Bank, the Gulf Arab state's largest sharia-compliant lender, is set to issue a $750 million five-year Islamic bond on Wednesday, a document from the lead arrangers said. Final price guidance for the sukuk tightened to 175-180 basis points over midswaps after substantial demand for the deal, with order books over $6 billion.

  • MELBOURNE, Oct 3- Australian shares edged up to a 14- month closing high on Wednesday as banks and broader stocks were boosted by an interest rate cut and a weaker local dollar, enhancing export prospects. He noted markets were cautious after Spain said a request for European aid was not imminent.

  • SINGAPORE, Oct 3- Brent crude futures slipped below $111 per barrel on Wednesday, hurt by persistent concerns over global growth and oil demand, while Europe's festering debt crisis added to uncertainty.

  • LONDON, Oct 3- Pearson Chief Executive Marjorie Scardino is to step down after 16 years in the job in which she transformed the group from a diverse set of assets into an educational and media powerhouse.

  • LONDON, Oct 3- European stocks were set for a slightly lower open on Wednesday as new gloomy economic data and uncertainty about Spain's debt crisis eclipsed underlying optimism about coordinated monetary support from central banks across the world.