×

Business Middle East

  • RIYADH, Saudi Arabia— The Latest on Saudi Arabia's King Salman appointing his son Mohammed bin Salman as crown prince:. Oman has strained ties with Saudi Arabia over serving as a diplomatic channel for the West to Iran. The tiny island off the coast of Saudi Arabia sent several messages on Wednesday welcoming the ascension of Crown Prince Mohammed bin Salman, the...

  • RIYADH, Saudi Arabia— Saudi Arabia's King Salman on Wednesday appointed his 31- year-old son Mohammed bin Salman as crown prince, placing him first-in-line to the throne and removing the country's counterterrorism czar and a figure well-known to Washington from the line of succession. The all-but-certain takeover of the throne by Mohammed bin Salman...

  • DETROIT, June 20- Whirlpool Corp, the world's largest maker of home appliances, said on Tuesday that Jeff Fettig will step down on Oct. 1 after 13 years as chief executive and will be replaced by the firm's current chief operating officer, Marc Bitzer. "Jeff has done an exceptional job over a long and successful career," said Robert Wetenhall, an analyst at RBC Capital...

  • WASHINGTON— When a Kansas strip-mall bank with possible mob ties folded in the mid-1980s, federal authorities investigated whether a shareholder, Iranian-born aviation magnate Farhad Azima, should face criminal charges. Specifically, they are examining whether Azima, now 75, paid a kickback to a former United Arab Emirates official to reap the profits from...

  • Commodities tomorrow:

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

  • WASHINGTON, June 20- The government of China has invited U.S. President Donald Trump's daughter, Ivanka Trump, and his son-in-law, Jared Kushner, to visit Beijing later this year, a White House official said on Tuesday. Kushner, a senior adviser who entered the White House with no government experience, has been assigned the job of conducting Middle East peace...

  • Qatar Airways plane

    Qatar Airways was tabbed as the world's best airline in 2017 in an annual award list, USA Today reports.

  • *Bank made $3.0 billion loan to Qatar during fund raising. The SFO charged Varley, Jenkins, the ex-chairman of its Middle East investment banking arm, Kalaris, a former CEO of the bank's wealth division and Boath, a former European head of financial institutions, after investigating a two-part fundraising that included a $3 billion loan to Qatar.

  • LONDON/ MILAN, June 20- Italian oil major Eni signed an agreement with Iran on Tuesday for feasibility studies to develop an oil field and a gas field, signaling a possible return to Iran's upstream sector. The Iranian oil ministry's official website SHANA reported Eni had signed a Memorandum of Understanding with the National Iranian Oil Company for studies on...

  • *Tabreed's rise slows, Dana Gas pulls back in UAE. *Qatar posts lowest close since diplomatic crisis started. DUBAI, June 20- Gulf stock markets were weighed down by weak oil prices on Tuesday as Saudi Arabia pulled back despite hopes for positive news from index compiler MSCI, while Qatar closed at its lowest level since it was hit by a diplomatic crisis early this...

  • Dmitry Shugaev, director of Russia's FSMTC agency, which oversees arms exports and imports, told reporters at the Paris Airshow that Russia saw continued demand for military aircraft, which account for 40 to 50 percent of its annual arms exports of around $15 billion. He said he expected Russia to maintain its spot as the second largest arms seller in the world...

  • *Bank made $3.0 billion loan to Qatar during fund raising. Britain's Serious Fraud Office charged Barclays Plc, former chief executive John Varley, Roger Jenkins, Tom Kalaris and Richard Boath with conspiracy to commit fraud and unlawful financial assistance in its first criminal prosecution of a bank and senior managers over events during the credit crisis.

  • PARIS, June 20- Budget carrier AirAsia X is giving up on the idea of low-cost, long-haul flying to Europe for now, and will concentrate on growth in Asia instead, AirAsia chief executive officer Tony Fernandes said on Tuesday. "We think we have so much growth right now in Asia," Fernandes said, adding China and India were of particular interest. "My core strategy is about...

  • DOHA, June 20- Qatar's sovereign wealth fund made U.S. dollar deposits in some local banks last week as a precaution after Saudi Arabia and other Gulf states cut diplomatic and transport ties with Doha, Qatari commercial bankers said. One Qatar- based banker, whose own institution received funds, said new deposits in the banking system by the Qatar Investment...

  • JERUSALEM, June 20- The Israel Securities Authority said on Tuesday it had opened an investigation into the country's largest telecom group, Bezeq Israel Telecom and its controlling shareholder. Bezeq is controlled by its chairman, Shaul Elovitch, through holding company Eurocom Group, which declined to comment. "A prolonged trading halt is a rather rare...

  • DUBAI, June 20- Government-controlled Dubai Aerospace Enterprise will consider ordering more than 20 new aircraft after it acquires Dublin- based lessor AWAS, a deal it expects to close in the "early part of the third quarter," its chief executive said. DAE, the aircraft leasing and maintenance company controlled by the government of Dubai, previously said the...

  • DUBAI AEROSPACE TO CONSIDER 20- PLUS AIRCRAFT ORDER AFTER AWAS ACQUISITION CLOSES- CEO.

  • DUBAI AEROSPACE EXPECTS TO COMPLETE AWAS ACQUISITION IN "EARLY PART" OF Q3 SUBJECT TO REGULATORY APPROVAL- CEO.

  • *India seeks to revive ailing power plants with Qatar investment. *India submits detailed investment proposal to Qatar. NEW DELHI, June 20- India on Tuesday said it would sign future long-term liquefied natural gas purchase deals with Qatar if only Doha agrees to acquire stakes in the South Asian nation's power plants, oil minister Dharmendra Pradhan said.

  • FLYING OVER THE PERSIAN GULF— Sitting on an airplane from Qatar trying to get home to Dubai, I could only watch frustrated as a scrolling map showed my flight pass overhead of my skyscraper-studded city and continue further east. It's typically an hour flight between Dubai in the United Arab Emirates and Doha, the capital of Qatar, cities that are home to two of the...