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  • *7 mln barrels of Forties amass in N Sea this month. LONDON, April 29- Dozens of tankers with unsold crude have been amassing at sea in the past few weeks, vividly reminiscent of 2015 when a recovery in oil prices was scuppered by rising physical supply. Even as the price rallied, U.S. crude inventories hit record highs, and cargoes of unsold oil linger in West Africa and...

  • *Germany says "America first" is no answer to post-Cold War world. LONDON, April 28- Donald Trump's first major foreign policy address alarmed American allies, who view the Republican front runner's repeated invocation of an "America first" agenda as a threat to retreat from the world. "I can only hope that the election campaign in the USA does not lack the perception...

  • DUBAI, April 28- Share price declines among leading banks in the United Arab Emirates after disappointing quarterly earnings reports pulled down stock markets there on Thursday, while Saudi Arabian shares edged down. First Gulf Bank made a net profit of 1.33 billion dirhams, down 6 percent as income from fees and commissions slipped; two analysts polled by...

  • There are two main factors at work that are improving the outlook for the region's major industrial and transport fuel, namely the expectation of stimulus spending in China and refinery maintenance in the region, as well as the Middle East. The profit margin per barrel of gasoil in Singapore over Dubai crude was $10.11 on Wednesday, up about 63 percent from the...

  • Alitalia, which is controlled by Abu Dhabi carrier Etihad Airways, signed a memorandum of understanding Wednesday with the Maltese government to launch due diligence on a possible deal. Malta tourism minister Edward Zammit Lewis said Air Malta will cease talks with other airlines, and that financial details of a possible deal are still to be determined.

  • DUBAI, United Arab Emirates— Etihad Airways on Wednesday announced profits of $103 million in 2015 off total revenues of $9.02 billion, marking a fifth year in the black on its strategy of partnering with other carriers. "Our profitability clearly demonstrates the success of our business strategy, based on organic growth boosted by our partnerships," James...

  • LONDON, April 27- " King Abdulaziz and the men who worked with him for the establishment of the state did not depend on oil and they established the kingdom without oil, and they ran this state without oil, and they lived in this state without oil," Saudi Deputy Crown Prince Mohammed bin Salman said in an televised interview on Monday. But if modern Saudi Arabia was...

  • DUBAI, April 27- Gulf carrier Qatar Airways said on Wednesday it had some "issues" with the A350 passenger jet and it was putting pressure on planemaker Airbus to resolve the problems. When asked what issues Qatar Airways had with the A350, Al Baker declined to comment, other than to say they related to the supply chain. Qatar Airways is the largest customer of the A350,...

  • *Choice between Boeing 737 MAX or Airbus 320 NEO- CEO. DUBAI, April 27- Saudi Arabia's Flynas will decide whether to order Boeing 737 MAX or Airbus 320 NEO planes before the start of the holy month of Ramadan in early June, the airline's chief executive said on Wednesday. Flynas currently leases Airbus A320s so choosing Boeing would create complications such as...

  • LONDON, April 27- Asian tech stocks led emerging equity losses on Wednesday, battered by a Wall Street selloff and signs of economic weakness, though firmer oil and expectations of a dovish U.S. MSCI's emerging equity index was flat after some of its biggest components- China, Taiwan and South Korea- closed in the red, with Hong Kong down 0.4 percent and the latter two...

  • DUBAI, United Arab Emirates— Qatar's largest bank is investigating a security breach that appears to have exposed sensitive personal data for what could be hundreds of customers, including employees of international broadcaster Al-Jazeera and potentially senior government officials. Qatar National Bank acknowledged in an emailed statement Wednesday...

  • *Russia has so far dominated oil sales to China's teapot refiners. SINGAPORE, April 27- Saudi Arabia's sale of a spot crude cargo to an independent Chinese refiner marks a new phase in the turf war for dominance over Asia's oil market and sends a strong message to its rivals Russia and Iran: the fight for market share is on. It points to a more creative and less rigid...

  • DUBAI, United Arab Emirates— Saudi Arabia has plans to issue select visas to welcome tens of thousands of tourists a year as part of a sweeping national reform plan aimed at showcasing the country's rich heritage, including pre-Islamic sites, and encouraging Saudis to spend some of their tourist money at home. A day after Saudi Arabia outlined its Vision 2030...

  • Emirates has ordered 142 of the A380s, of which 75 are in operation, and has used the aircraft to ease runway constraints at its Dubai hub. I think they will continue producing this aircraft, "Sheikh Ahmed told reporters at a travel conference in Dubai. Abu Dhabi- owned rival Etihad has bought stakes in several other airlines including India's Jet Airways, Air Berlin...

  • DUBAI, United Arab Emirates— The chairman and CEO of long-haul airline Emirates says he's not worried about the next U.S. president being more protectionist amid an ongoing row with American carriers. Speaking to journalists Tuesday, Sheikh Ahmed bin Saeed Al Maktoum said "different governments come and go," but it won't have much of an effect.

  • Trump Hotels, the brand bearing the last name of Republican presidential candidate Donald Trump, sits near luxury brands like the Armani Hotel and the Palazzo Versace at the Arabian Travel Market exhibition being held in Dubai, the United Arab Emirates. Trump, who has long sought access to the oil-rich markets of the Middle East, has caused consternation and...

  • *1 MDB did not pay $50.3 mln coupon over dispute with IPIC. HONG KONG/ SINGAPORE, April 26- 1 Malaysia Development Bhd said on Tuesday it did not pay a $50.3 million coupon on a $1.75 billion bond following a stand-off with Abu Dhabi sovereign fund IPIC, triggering cross defaults on some of its other bonds. The missed payment increases the probability the government...

  • DUBAI, April 26- Shares in Saudi Arabia pulled back early on Tuesday as short-term investors booked profits in stocks which had jumped when Deputy Crown Prince Mohammed bin Salman announced economic reforms on Monday. Samba Financial Group, lead underwriter of the recent initial public offer of Middle East Healthcare, dropped 5.1 percent after rocketing 9.3...

  • DUBAI, April 26- Saudi Arabia's stock market may extend gains on Tuesday after Deputy Crown Prince Mohammed bin Salman announced an economic overhaul of the oil-dependent kingdom, while investors in the Gulf will take cues from quarterly results. "The vibes that come out of Vision 2030 are that of reform, dynamism, change and optimism and hence the market's...

  • HONG KONG, April 26- 1 Malaysia Development Bhd said on Tuesday it did not pay a $50.3 million coupon on a $1.75 bond following a stand-off with Abu Dhabi sovereign fund IPIC, triggering cross defaults on some of its other bonds. The Abu Dhabi fund has claimed that 1 MDB and its sole shareholder, Malaysia's Ministry of Finance, have failed to meet the obligations...