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Business Middle East

  • 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.

  • 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 the local dollar weakened, enhancing export prospects.

  • HELSINKI, Oct 3- The following stocks may be affected by newspaper reports and other factors on Wednesday:. The government, which owns 13.5 percent of Nordea's shares, has been clear it wants to sell its stake and has a mandate from the parliament. It already sold 6.3 percent of Nordea shares in February 2011.

  • LONDON, Oct 3- Marjorie Scardino, the chief executive of publishing group Pearson, is to step down at the end of the year after 16 years in the job, bringing to an end a period of transformational change for the group.

  • HELSINKI, Oct 3- The following stocks may be affected by newspaper reports and other factors on Wednesday:. The Oslo- listed oil driller said it plans to replace Chief Executive Alf Thorkildsen with Fredrik Halvorsen, the head of its Archer affiliate, and is looking to relocate management outside Norway.

  • *The parent company of T-Mobile USA, the struggling cellphone service provider, is in talks to buy MetroPCS Communications Inc as it fights to compete against two bigger rivals.

  • MOSCOW, Oct 3- Here are events and news stories that could move Russian markets on Wednesday. EVENTS: MOSCOW- Russia Calling VTB Capital investment conference. MOSCOW- Press conference by Aeroflot Chief Executive Vitaly Savelyev and SAP executives.

  • SINGAPORE, Oct 3- Asia's naphtha market erased gains on Wednesday, as petrochemical makers stayed on the sidelines over concerns about a slower economy. The prompt October/November inter-month spread slipped a dollar to a three-session low of $9.00 a tonne in backwardation, according to Reuters data.

  • KHOBAR, Saudi Arabia, Oct 3- Top oil exporter Saudi Arabia has raised its Arab Light crude price for Asian buyers in November by 90 cents, its state-owned company Saudi Aramco said on Wednesday.

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

  • ROME, Oct 3- Iran's tumbling rial currency will face more heavy pressure as the United States and its allies enforce sanctions over Tehran's nuclear programme, a senior U.S. official said on Wednesday. Cohen's comments, on a five-day visit to Europe, came as riot police clashed with demonstrators protesting in Tehran against the fall in the currency.

  • THE HAGUE, Netherlands-- Prosecutors in the Netherlands are asking judges to confiscate just over 1 million in profits made by a businessman from selling chemicals to Saddam Hussein that the Iraqi dictator turned into poison gas. A Dutch court convicted Frans van Anraat of war crimes in 2005. He is serving a 16 1/ 2- year prison sentence.

  • *Italy's public debt is sustainable and the average yields paid on new government paper issued so far this year are lower than they were before the crisis, the head of Italy's Debt Management Office said in a newspaper interview published on Wednesday.

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

  • *London, Dubai, Singapore and Houston under consideration. Oct 2- Seadrill Ltd, the world's biggest driller by market capitalisation, said it plans to replace CEO Alf Thorkildsen with the head of its Archer Ltd affiliate, and is looking to relocate management outside Norway.

  • MELBOURNE, Oct 3- Australian shares hit a 14 month-high on Wednesday as banks and broader stocks surged after the central bank cut interest rates and the local dollar weakened, enhancing export earnings. Top banks were all higher, led by National Australia Bank. "People are rethinking everything," said Macquarie Equities division director Lucinda Chan.

  • MANILA, Oct 3- The Asian Development Bank released its revised 2012 outlook for 45 economies in developing Asia, which spans the Pacific to Central Asia. Central Asia: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan. South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka.

  • MELBOURNE, Oct 3- Australian shares rose 0.3 percent to a fresh five-month high on Wednesday, lifted by gains in top banks even as miners lost ground. was up 12 points at 4,444.7 by 0017 GMT, its highest since May 1. ()DIARIES& DATA: IPO diary& data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead.