Business Middle East

  • The Mideast investment fund with the biggest stake in Mercedes-Benz' parent is paying about $280 million to buy nearly a third of commercial space travel startup Virgin Galactic.

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    "This is a momentous occasion in Iran, but everyone (in the oil market) is watching the dollar," one trader said.

  • Day two of the Paris air show and Monday's terrible weather seems to have lifted. The question is has it lifted the mood of those here at Le Bourget?

  • Two years ago here at the Paris Airshow the sun was shining, the champagne corks were flying and the fizz was flowing as the orders rolled in for Airbus and Boeing. Wind the clock forward to now and the story is very different.

  • This is the 100th Paris Airshow but the aviation industry has little to celebrate. The grey weather here at Le Bourget really sums up to mood of most CEOs in the industry and it's extremely unlikely that we will see the flurry of aircraft orders normally associated with the event. The tragic news associated with Air France 447 is also casting a long shadow and is likely to dominate many of Airbus' scheduled events.

  • Mahmoud Ahmadinejad, president of Iran

    A world wary of Iran's nuclear program reacted cautiously Saturday to hard-line leader Mahmoud Ahmadinejad's hotly disputed re-election. Some expressed hope that the Islamic republic's president will soften his defiance and warm to recent U.S. overtures.

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    A world wary of Iran's nuclear program reacted cautiously Saturday to hard-line leader Mahmoud Ahmadinejad's hotly disputed re-election. Some expressed hope that the Islamic republic's president will soften his defiance and warm to recent U.S. overtures.

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    A strike by metro drivers wrought havoc on the streets of London, with thousands of commuters seeking alternative ways to get to work and overground traffic sometimes grinding to a halt.

  • Investor Spring Cleaning - A CNBC Special Report

    Peter Kenny, managing director at Knight Equities and Paul Hickey, co-founder of Bespoke Investment Group weighed in on the best places to invest now.

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    OPEC is unlikely to cut output at its upcoming meeting, Saudi Arabia's oil minister said in comments published Tuesday, as indications mounted that the oil producing bloc would resist a temptation to tighten the taps despite wanting higher crude prices.

  • The fall in asset prices brought on by the financial crisis has shrunk the size of sovereign wealth funds belonging to oil-rich countries and Asian exporters, the World Street Journal reported on Wednesday on its Web site.

  • Peter Kenny, managing director of Knight Equities, and Charles Campbell, senior sales trader at Miller Tabak, weighed in on the best places to invest now.

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    Designers emphasized the importance of fashion meaning something during the current recession and suggested consumers will focus on uniqueness and affordability which is what they offer.

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    Chancellor of the Exchequer Alistair Darling predicted that the economy would contract at a rate of 3.5 percent in 2009, with a fall of around 1.6 percent in the fourth quarter.

  • Oil Pump

    This tiny U.S. ally is showing few signs of the world economic crisis, even as some of its Persian Gulf neighbors struggle with debt, stalled projects and the collapse in oil prices.

  • Oil Barrels

    Saddled with slumping oil prices, U.S. sanctions and economic troubles, Iran appears to be pushing to entice foreign investment in its energy sector in a bid to woo allies abroad and secure political support at home as its hardline president faces an upcoming re-election battle.

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    OPEC should look to reduce oil supply further if demand is insufficient to absorb supplies, Iraq's oil minister said on Tuesday.

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    Uncertainty about how far world fuel demand and oil prices will fall has made it harder than ever for OPEC members to agree on how to balance group output policy against the divergent needs of their individual budgets.

  • A leading energy consultancy is warning that what it calls Iranian President Mahmoud Ahmadinejad's mismanagement of oil revenues could result in major economic woes for the country, regardless of the outcome of this summer's elections.

  • Fields of corn surround the Golden Grain Energy ethanol plant, in Mason City, Iowa.

    Here in Abu Dhabi, exactly 7,095 miles from Washington D.C. where President Obama will be sworn in this week, the great and the good of the energy world will be discussing, amongst other things, the key issue surrounding future energy: who's going to pay for it?