Business Middle East

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  • Franklin Templeton Investments, which manages $621 billion in assets, has bought 25% of Dubai's Algebra Capital and wants to grow its business in Arab markets, it said on Tuesday.

  • State-owned Qatar Investment Authority, which has offered to buy British supermarket chain J. Sainsbury's, has raised a $3 billion loan as a "warchest for investments", a banker said on Monday.

  • Representatives of the Qatari Investment Authority have indicated a willingness to pay as much as 15 pounds ($30)  a share for Nasdaq's 31% percent stake in the London Stock Exchange the Sunday Times newspaper said.

  • State-run Borse Dubai violated Swedish takeover law in the run-up to a bid for exchange owner OMX but no action against the group is planned, a Swedish regulator said on Thursday.

  • OPEC member Libya does not see a need for the exporter group to cut or increase its oil output at a September 11 meeting, the country's top oil official said on Wednesday.

  • U.S. exchange Nasdaq said it was talking to key shareholders in OMX to persuade them to accept a share-only bid for the Nordic exchange operator and that some had agreed, the Financial Times reported on Tuesday.

  • The Swedish Financial Supervisory Authority said Thursday it has sent more questions to Borse Dubai regarding its share and option purchase in Nordic stock exchange operator OMX last week.

  • 80-year-old Sumi Abe is rescued from her destroyed house nine days after the 9.0 magnitude earthquake and tsunami on March 20, 2011 in Ishinomaki, Miyagi, Japan.

    DP World, the world's third-largest container port operator, may this year sell $2 billion of shares in an initial public offering and list the stock in Dubai, Middle East Economic Digest reported.

  • General Electric has signed three new deals in the Middle East worth a combined $1.8 billion, highlighting the region's importance to the U.S. industrial conglomerate.

  • The Iraqi government said Wednesday that Turkish artillery and warplanes bombarded areas of northern Iraq and called on Turkey to stop military operations and resort to dialogue.

  • J Sainsbury, Britain's third-biggest supermarket group, confirmed it had received a preliminary bid approach from Qatari investment group Delta Two.

  • A deal to free up world trade could be delayed several years if no progress is made by the end of 2007, the United States said on Thursday, as it stepped up criticism of India and Brazil over failed talks.

  • Alan Johnston, the BBC journalist held hostage in the Gaza Strip since March, was handed over by his Islamist captors to ruling Hamas officials on Wednesday.

  • The energy market could have a new benchmark oil price when Dubai launches its Middle East sour crude futures contract as an alternative to New York's NYMEX light crude oil futures and London's IPE Brent crude oil.

  • Quatar

    European planemaker Airbus signed a deal with Qatar Airways for 80 A350XWB aircraft with a total list price of $16 billion. The order replaces a 2005 agreement for 60 planes.

  • Dubai International Financial Centre (DIFC), the owner of the Dubai stock exchange, is mulling a rival bid to Nasdaq's agreed $3.7 billion takeover of Nordic markets owner OMX, the Sunday Times reported.

  • Business in Israel is booming, despite the ongoing conflict with its Arab neighbors and the ever-present threat of terrorism and military conflict.

  • You've probably heard of BRIC - Brazil, Russia, India and China - investing, but have you heard of BRIC-ME? Cramer's adding the Middle East as an investment hot spot.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • U.S. crude oil futures ended lower for the third day in a row after government data showed supplies last week rose within market forecasts.

  • Devon Energy, an independent oil and gas producer, reported a 7% drop in first-quarter profit due to rising costs and lower natural gas prices.