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Business Middle East

  • LOS ANGELES, Oct 6- A California man behind an anti-Islam film that stoked violent protests in the Muslim world is due to appear in a federal court in Los Angeles next week for a preliminary hearing on whether he violated the terms of his probation over a 2010 bank fraud conviction, court papers show.

  • CAIRO, Oct 6- Egyptian President Mohamed Mursi said on Saturday he had fallen short of goals he promised to fulfill in his first 100 days in office, but aimed to assuage critics by highlighting his most prominent achievements.

  • By Andrew Torchia and Yeganeh Torbati. DUBAI, Oct 6- Tehran's Grand Bazaar reopened under close police supervision on Saturday, traders said, days after it was shut by clashes between riot police and protesters blaming the government for the collapse of the Iranian currency.

  • By Andrew Torchia and Yeganeh Torbati. DUBAI, Oct 6- Tehran's Grand Bazaar reopened under close police supervision on Saturday, traders said, days it was shut by clashes between riot police and protesters blaming the government for the collapse of the Iranian currency.

  • *KIA tenders entire 23.5 pct stake- source* Qtel had bid $2.2 bln for remaining 47.5 pct stake* Announcement of tender details expected Sunday By Dinesh Nair and Matt Smith. DUBAI, Oct 6- Qatar Telecom is set to control more than 90 percent of Kuwait's Wataniya.

  • DUBAI, Oct 6- The ruler of Dubai has given approval for the expansion of the emirate's Business Bay Canal project at a cost of 1.5 billion dirhams over two years, the Roads and Transport Authority said on Saturday.

  • Main roads in Riyadh are decorated with national flags and portraits of King Abdullah bin Abdul Aziz of Saudi Arabia on February 21, 2011 amid preparations to welcome the Saudi royal back as he is expected to return home later this week after convalescing in Morocco from operations in New York, according to a source close to the oil-rich Gulf monarchy. AFP PHOTO/FAYEZ NURELDINE (Photo credit should read FAYEZ NURELDINE/AFP/Getty Images)

    A sense of optimism prevails among players in the real estate market of the world’s top oil exporter. For good reason: In less than two years, several key developments in Saudi Arabia have come together, which will create a wealth of opportunities for years to come, analysts have told CNBC.

  • The New York Times reported on Thursday that Iran had proposed a plan to European officials that required the West to lift harsh oil and economic sanctions in return for the eventual suspension of uranium enrichment by Tehran.

  • ADEN, Oct 6- Yemeni security forces foiled a plan by militants linked to al Qaeda to bomb an air base jointly used with the United States to carry out attacks against the group, a security official said on Saturday. The Al Anad air base is used jointly with U.S. forces to launch attacks against al Qaeda militants across Yemen, mainly using U.S.-controlled drones.

  • DUBAI, Oct 6- Iran's government was locked in a test of wills with currency dealers on Saturday as it tried unsuccessfully to impose a stronger rial exchange rate, after a plunge by the currency earlier in the week triggered street protests.

  • TEHRAN, Iran-- Iran's national currency is rebounding from record lows, days after protests flared in the country's largest display of anger at economic conditions since Western sanctions were tightened this summer. It was 24,000 rials earlier in the week, and close to 10,000 rials as recently as early 2011..

  • RIYADH, Saudi Arabia-- The head of the International Monetary Fund said Saturday that the economies of the oil-rich countries of the Gulf Cooperation Council will continue to enjoy high growth rates, although at reduced rates.

  • KUWAIT, Oct 6- Burgan Bank said on Saturday it had received approval from the Kuwaiti central bank for its planned purchase of Eurobank's Turkish arm. It will acquire 70 percent of the lender from Tekfen's Greek partner EFG Eurobank in a $355 million deal, while the remaining 29.26 percent stake will come from Tekfen Holding for an unknown sum.

  • BRUSSELS, Oct 6- Troubled Franco-Belgian bank Dexia is working on raising cash, its chief executive told Belgian business newspaper L'Echo in an article published on Saturday. "Every day that passes we get closer to the deadline, because Dexia is continuing to lose money," Karel de Boeck told the paper. "

  • JEDDAH, Saudi Arabia, Oct 6- Saudi Arabia's Kingdom Holding, the investment firm of Saudi billionaire Prince Alwaleed bin Talal, sold its interest in the Fairmont Hotel and Raffles Suites& Residences in Manila for 218 million riyals, it said on Saturday. Kingdom Holding has minority stakes in some of the world's top companies.

  • NEW YORK, Oct 5- Boeing Co said on Friday that Qatar Airways had taken delivery of a 787 Dreamliner plane. Qatar Airways was not immediately available for comment on Friday evening. Boeing spokesman Doug Alder said on Friday that the plane would "now head to Victorville, Calif., to install Qatar Airways' connectivity modifications."

  • *Sanctions mulled for more Iran central bank transactions. *Aimed at pressuring Iran to abandon nuclear program. WASHINGTON, Oct 5- U.S. lawmakers are considering expanding American economic sanctions on Iran- measures that already have helped push that country's currency into free fall but have not yet convinced Tehran to abandon its nuclear program.

  • *Supportive U.S. data offset by weak China, Europe reports. NEW YORK, Oct 5- Oil prices fell in volatile trading on Friday and posted weekly losses as a fragile global economy and uncertainty about Europe's debt crisis offset support from a better-than-expected U.S. employment report.

  • WASHINGTON-- A federal judge says the D.C. transit system must allow a pro- Israel ad that equates Muslim radicals with savages. District Judge Rosemary Collyer said in a one-page opinion Friday that the advertisement must be displayed no later than 5 p.m. on Monday.

  • Commodities Next Week: Looking to Syria & Turkey, Venezuela

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.