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Business Middle East

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • BEIRUT, June 21- Iran has begun exporting gas to Iraq, an Iranian official told the state-run Islamic Republic News Agency on Wednesday, after a several years of delays. The neighbours, both members of the Organization of the Petroleum Exporting Countries, initially signed a deal in 2013 for Iran to supply Iraqi power stations, but officials in the past blamed poor...

  • *Over $30 billion of equity holdings moved to finance ministry. DOHA, June 21- Qatar's sovereign wealth fund has transferred over $30 billion worth of its domestic equity holdings to the finance ministry and may sell other assets as part of a restructuring drive, people familiar with the matter told Reuters. The stakes include major holdings in some of the...

  • DUBAI, June 21- Saudi Arabia's King Salman made his son next in line to the throne on Wednesday, handing the 31- year-old sweeping powers as the kingdom seeks radical overhaul of its oil-dependent economy and faces mounting tensions with regional rival Iran. Mohammed bin Salman replaces his cousin, Prince Mohammed bin Nayef, a veteran security chief who led the...

  • PARIS, June 21- Military conflicts and growing threats around the world continue to underpin demand for weapons, but industry and government leaders from the United States, Europe, Russia and the Middle East say they don't see a huge near-term spike in arms orders. But they caution that foreign arms sales take years to complete, and NATO governments must get...

  • DUBAI, United Arab Emirates— He is known as MBS and his rise through Saudi Arabia's corridors of power has been shockingly swift. At age 31, Mohammed bin Salman already controlled the kingdom's defense policy and was overseeing a massive internal economic overhaul with the backing of his father, King Salman. His sudden appointment Wednesday to the position of...

  • TEL AVIV, June 21- Israel's markets regulator said on Wednesday that it suspected the chairman of Bezeq Israel Telecom of fraud after it opened an investigation into the country's largest telecom group. The Israel Securities Authority raided the company's offices on Tuesday as part of an investigation into Chairman Shaul Elovitch and other executives over...

  • DUBAI, June 21- Saudi Arabia's King Salman made his son next in line to the throne on Wednesday, handing the 31- year-old sweeping powers as the kingdom seeks radical overhaul of its oil-dependent economy and faces mounting tensions with regional rival Iran. Mohammed bin Salman replaces his cousin, Prince Mohammed bin Nayef, a veteran security chief who led the...

  • DUBAI, June 21- Saudi Arabia's King Salman made his son next in line to the throne on Wednesday, handing the 31- year-old sweeping powers as the kingdom seeks radical overhaul of its oil-dependent economy and faces mounting tensions with regional rival Iran. Mohammed bin Salman replaces his cousin, Prince Mohammed bin Nayef, a veteran security chief who led the...

  • Syngenta Group Co. NK Soybeans are harvested with a Case IH combine harvester near Princeton, Illinois

    Farmers in the US and Brazil are in a race to meet demand for livestock feed as meat consumption in China soars, Financial Times reports.

  • DUBAI, United Arab Emirates— The Trump Organization's business partner in Dubai has signed an agreement to help develop a waterfront project in Oman valued at $1 billion. The state-run Oman News Agency reported that DAMAC Properties chairman Hussain Sajwani signed the deal in Muscat, the Omani capital, on Wednesday. DAMAC Properties has built one Trump golf...

  • *Other bourses focus on Brent below $46 a barrel. DUBAI, June 21- Saudi Arabia's stock market jumped over 5 percent on Wednesday after the architect of the kingdom's economic reforms was appointed crown prince and index compiler MSCI said it would consider upgrading Riyadh to emerging market status. The stock index surged 5.5 percent, its largest single-day...

  • DOHA, June 21- The Qatar Stock Exchange on Wednesday said it believed some institutional investors from Saudi Arabia, the UAE and Bahrain dumped shares to drive down the Qatari stock market in the wake of the diplomatic rift between Qatar and its Arab neighbours. Qatar's benchmark stock market has fallen 11.5 percent since early June when Saudi Arabia, United...

  • CAIRO— Egypt's government has more than doubled the amount of subsided food that millions of ration card holders can purchase on a monthly basis and raised pensions— measures meant to cushion against soaring prices resulting from harsh reforms that aim to revive the country's battered economy. Those holding ration cards would now be able to buy subsidized...

  • *Islamic militants pose main internal threat in Saudi Arabia. Prince Abdulaziz bin Saud bin Nayef was appointed on Wednesday to replace Prince Mohammed bin Nayef, who was stripped of his positions and removed as second in line to the throne of the world's biggest oil exporter. Prince Mohammed bin Nayef, 57, who was wounded in an al Qaeda assassination attempt in...

  • *Mohammed bin Salman named heir to Saudi throne. RIYADH, June 21- The young prince named heir to Saudi Arabia's throne has built a reputation as a bold reformer intent on weaning the kingdom off oil and driving a far more aggressive foreign policy to counter the influence of arch-rival Iran. Mohammed bin Salman, 31, was appointed crown prince by his father King...

  • LONDON, June 21- Oil steadied on Wednesday, paring earlier losses, but was set for its largest price slide in the first half of any year for the past two decades, as investors discounted evidence of strong compliance by major producers with a deal to cut global output. August Brent crude futures were flat at $46.02 a barrel by 1107 GMT, having fallen earlier to...

  • DUBAI, June 21- Saudi Arabia's King Salman made his son next in line to the throne on Wednesday, handing the 31- year-old sweeping powers as the kingdom seeks radical overhaul of its oil-dependent economy and faces mounting tensions with regional rival Iran. He replaces his cousin, Prince Mohammed bin Nayef, a veteran security chief who led the Saudi campaign...

  • LONDON, June 21- Saudi Arabia's King Salman made his son, Mohammed bin Salman, next in line to the throne on Wednesday, handing the 31- year-old sweeping powers as the kingdom seeks a radical overhaul of its oil-dependent economy. Below are analysts' views on what the promotion of Prince Mohammed, also known by the acronym MBS, means for Saudi oil policies and OPEC.

  • LONDON, June 21- Oil steadied on Wednesday, paring earlier losses, but was set for its largest price slide in the first half of any year for the past two decades, as investors discounted evidence of strong compliance by major producers with a deal to cut global output. August Brent crude futures were flat at $46.02 a barrel by 1107 GMT, having fallen earlier to...