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Business United Arab Emirates

  • ABU DHABI, March 29- Dubai- based ride-hailing company Careem is looking for acquisition opportunities and is considering an initial public offering as a possible option but has no timeframe in mind, its founder and CEO said. Careem, which competes with Uber and operates from Pakistan to Egypt, plans to enter second-tier cities in Saudi Arabia, Egypt and Pakistan...

  • *OPEC- led production cut expected to be extended into H2 2017. SINGAPORE, March 29- Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC- led output reduction will be extended into the second half of the year. In the United States, West Texas Intermediate crude futures were up 34 cents,...

  • DUBAI, United Arab Emirates— Monster trucks, hip-hop dancing and Game of Thrones all have one surprising thing in common now: Saudi Arabia. Deputy Crown Prince Mohammed bin Salman's support is key to this cultural push, which also means the fun is tightly controlled. He had not performed in the Saudi capital, Riyadh, since the late 1980 s.

  • MONTREAL— The head of the International Air Transport Association said Tuesday it's difficult to understand how banning electronic devices in carry-on baggage will improve flight security. The U.S. and Britain are citing concerns about terrorist attacks to prohibit passengers on some flights from mostly Middle Eastern and North African countries from...

  • *Executives see scope to lure Middle East shoppers online. DUBAI, March 28- Souq.com will expand its workforce and operations after Amazon clinched a deal to buy 100 percent of the Middle East online retailer, executives from both firms said. Amazon and Souq.com said earlier on Tuesday they had agreed on the takeover, despite an eleventh-hour bid by Dubai...

  • *Executives see scope to lure Middle East shoppers online. DUBAI, March 28- Souq.com will expand its workforce and operations after Amazon clinched a deal to buy 100 percent of the Middle East online retailer, executives from both firms said. Amazon and Souq.com said earlier on Tuesday they had agreed on the takeover, despite an eleventh-hour bid by Dubai...

  • *Executives see scope to lure Middle East shoppers online. DUBAI, March 28- Souq.com will expand its workforce and operations after Amazon clinched a deal to buy 100 percent of the Middle East online retailer, executives from both firms said. Amazon and Souq.com said earlier on Tuesday they had agreed on the takeover, despite an eleventh-hour bid by Dubai...

  • *Concerns rivals could buy shares if Qatar sells. LONDON/ FRANKFURT, March 28- A merger of Hapag-Lloyd and United Arab Shipping Company has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say. Two finance sources, who declined to be identified citing...

  • DUBAI, March 28- Amazon.com has agreed to buy Middle East online retailer Souq.com, thwarting a last-minute bid by Dubai billionaire Mohamed Alabbar's Emaar Malls. In a deal document seen by Reuters, Goldman said the acquisition would accelerate Amazon's entry into "attractive Middle East countries with significant growth potential given e-commerce only...

  • DUBAI, March 28- Amazon.com has agreed to buy Middle East online retailer Souq.com, thwarting a last minute bid by Dubai billionaire Mohamed Alabbar's Emaar Malls. The deal appeared to get the endorsement of the Dubai government which is increasingly focusing on technology. The Emar offer was not the first online move to be made by Alabbar, who made his name as...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a license to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a move to return to the country after an absence of nearly 13 years. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and develop the...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a licence to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a move to return to the country after an absence of nearly 13 years. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and develop the...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a license to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a major move to return to the country after a roughly thirteen year absence. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and...

  • KHOBAR/ DUBAI, March 28- Citigroup has formally applied for a licence to conduct capital markets business in Saudi Arabia, two sources familiar with the matter said, in a major move to return to the country after a roughly thirteen year absence. The application has been made with Saudi Arabia's Capital Market Authority, whose primary role is to regulate and...

  • DUBAI, United Arab Emirates— Amazon purchased the Middle East's biggest online retailer Souq.com on Tuesday for an undisclosed amount, a day after a state-backed firm disclosed an $800 million counteroffer. In buying Souq.com, Amazon will leapfrog into the crucial Mideast markets of Egypt, the United Arab Emirates and Saudi Arabia, where the Dubai- based...

  • DUBAI, March 28- Amazom.com has agreed to acquire Middle East online retailer Souq.com,, the two companies said in a joint statement on Tuesday. "By becoming part of the Amazon family, we'll be able to vastly expand our delivery capabilities and customer selection much faster, as well as continue Amazon's great track record of empowering sellers," said Souq.com' s...

  • Prime Minister Abdullah bin Nasser Al Thani announced the $6.3 billion investment at an investment forum in London. Its holdings include a stake in British bank Barclays and several prominent London properties, including the iconic Harrods department store. The OPEC member announced plans to invest $35 billion over five years in the United States in 2015..

  • *Dubai's Emaar Malls said it bid $800 mln for Souq.com. DUBAI, March 28- Middle Eastern online retailer Souq.com will make an announcement later on Tuesday about Amazon.com Inc's bid to buy 100 percent of the company from its shareholders, two sources familiar with the matter told Reuters. Dubai's Emaar Malls, operator of some of the region's most glitzy shopping...

  • DUBAI, March 28- Middle Eastern online retailer Souq.com will make an announcement later on Tuesday about Amazon.com Inc's bid to buy 100 percent of the company from its shareholders, two sources familiar with the deal told Reuters. One of the sources, declining to be identified ahead of the announcement, said the statement would say that Souq.com' s...

  • DUBAI, United Arab Emirates— The president of the United States holds a trademark in Jordan for a Donald Trump casino, despite the fact that gambling is illegal in the kingdom. To keep the trademarks active, the Trump Organization would need to reapply for them during Trump's four-year term, raising potential ethical concerns for his company in Jordan, a stalwart...