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Business Middle East

  • JERUSALEM— Israel says it has repelled a large cyberattack on government offices and private citizens. The Haaretz daily said Israel believes the attack was directed by a foreign country with a group of hackers. Israel established the national cyber bureau several years ago to coordinate its defense against attacks on its infrastructure and networks.

  • *Q3 adj EPS $0.96 vs est $0.94. Economic and political uncertainties- from higher gas prices in the United States and higher utility prices in Saudi Arabia to demonetization in India- triggered a sharp brake in consumer spending during the quarter, the company said on a post-earnings conference call. P&G, which sells its brands in more than 180 countries, gets...

  • DUBAI, April 26- Malaysia Airlines has offered to lease Airbus A330 jets from Alitalia if the struggling Italian airline is wound up, the Asian carrier's chief executive said on Wednesday. Malaysia Airlines could take between six and eight Airbus A330s from Alitalia, CEO Peter Bellew told Reuters in Dubai. Malaysia Airlines is emerging from a turnaround after...

  • DUBAI, April 26- Malaysia Airlines has offered to lease Airbus A330 jets from Alitalia if the struggling Italian airline is wound up, the Asian carrier's chief executive said on Wednesday. Malaysia Airlines could take between six and eight Airbus A330s from Alitalia, CEO Peter Bellew told Reuters in in Dubai. Malaysia Airlines is emerging from a turnaround...

  • DUBAI, April 26- Two Saudi banks soared on Wednesday after saying they were in initial stages of a merger, helping lift the mood in other lenders while first quarter financial results buoyed the shares of two blue chips in other Gulf countries. On Wednesday Saudi's Alawwal Bank agreed to start talks with Saudi British Bank about a tie-up that could create the...

  • DUBAI, April 26- Industrial and Commercial Bank of China has cleared more than 590 billion yuan in transactions in Qatar in the nearly two years since it opened its clearing centre in the Gulf state, an executive told Reuters. "Our data shows that Qatar, the United Arab Emirates and Kuwait are the most active Middle East countries using the RMB clearing centre for...

  • DUBAI, April 26- Malaysia Airlines has offered to lease Airbus A330 jets from Alitalia if the struggling Italian airline is wound up, the Asian carrier's chief executive told Reuters on Wednesday. Malaysia Airlines could take between six and eight Airbus A330s from Alitalia, CEO Peter Bellew said in an interview in Dubai. Malaysia Airlines is emerging from a...

  • DUBAI, United Arab Emirates— A government oil company in the United Arab Emirates says it has opened the country's first solar-powered gas station in Dubai. The Dubai- owned Emirates National Oil Company said on Wednesday the service station on the city's main Sheikh Zayed Road thoroughfare is covered with solar panels that can generate up to 120 kilowatt...

  • The sheikhdom is hosting a cybersecurity conference this week and at it, a Dubai official involved in protecting the emirate from hacking and other electronic maliciousness offered a rare interview Wednesday describing its efforts. "It's relentless," said Amer Sharaf, the director of compliance at the Dubai Electronic Security Center.

  • LUXEMBOURG, April 26- When Mohamed al-Khalaf escaped from Syria and won asylum in Luxembourg last year, his wife and children stayed behind in Raqqa, the hub of Islamic State's so-called Caliphate. But first, Luxembourg officials said, they must see the family's passports and a document, certified by President Bashar al-Assad's administration, to prove...

  • DUBAI, April 26- The volume of international bond issues from the Gulf may hit a record high for a second straight year in 2017 as lower oil prices crimp the capacity of banks to finance billions of dollars of investments and state budget deficits. Issuance data shows the six-nation Gulf Cooperation Council's bond market is on track to become more important than...

  • ADGM chair on the influence of the Saudi Arabian economy

    Ahmed Ali Al Sayegh, Abu Dhabi Global Markets (ADGM) chairman, discusses how proximity to Saudi Arabia and the low oil price can benefit his economy.

  • BERLIN, April 26- Air passenger arrivals in the United States fell in the first quarter of the year, while arrivals in Canada and Mexico rose, according to data from travel analysis company ForwardKeys. Meanwhile, Canada and Mexico both saw arrivals increase 6.1 percent in the first quarter and bookings for arrival in the second quarter are up 15.7 and 19.8...

  • View of Abu Dhabi skyscrapers, United Arab Emirates.

    Abu Dhabi has set its sights on developing a booming financial services sector in a continued push to diversify the UAE's oil-dependent economy.

  • Focussed on future thinking: Alder properties CEO

    Aldar Properties CEO Mohamed Al Mubarak discusses his business and economic development in Abu Dhabi more broadly.

  • Ahmed Ali Al Sayegh, Abu Dhabi Global Markets (ADGM) chairman, explains how a lower oil price has helped ADGM flourish.

  • NEW YORK— Uber is taking to the skies with its next project— "flying cars"— even as all eyes are on its problems on the ground. The company says its partners in this Elevate initiative include real estate companies, aircraft manufacturers, electric vehicle charger makers and cities such as Dubai and Dallas-Fort Worth, Texas. Jeff Holden, Uber's chief product officer,...

  • HOUSTON/ CARACAS, April 25- As political turmoil in Venezuela mounts, oil firms including Norwegian major Statoil ASA and Spain's Repsol SA have further reduced their already-dwindling ranks of expatriate employees in the country, sources familiar with the situation said. Statoil, Repsol and Chevron Corp are among the foreign oil companies that hold...

  • Commodities tomorrow:

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

  • RIYADH, April 25- A glitzy $10 billion financial district in Riyadh hopes to open its first phase for business this year but is struggling with red tape and uncertainty about its ownership, showing the challenges facing Saudi Arabia's economic reforms. The plan to build the King Abdullah Financial District began in 2006, but the project has been plagued by...