Business United Arab Emirates

  • *OPEC will limit output at 32.5-33.0 million bpd. *To seek non- OPEC support once output reduced. ALGIERS, Sept 28- OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.

  • *OPEC will limit output at 32.5 million bpd- sources. ALGIERS, Sept 28- OPEC agreed on Wednesday to cut its oil output for the first time since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. How much each country will produce is to be decided at the next formal meeting of OPEC in November,...

  • *OPEC will limit output at 32.5 million bpd- sources. ALGIERS, Sept 28- OPEC agreed on Wednesday to cut its oil output for the first time since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. How much each country will produce is to be decided at the next formal meeting of OPEC in November,...

  • *Iran wants much higher share of OPEC production. ALGIERS, Sept 28- OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. That represents a strategy shift for Riyadh, which has said it would reduce output to ease the global glut only if...

  • ABU DHABI, Sept 28- China's Cosco Shipping Ports will invest $400 million in building a container terminal in Abu Dhabi as the emirate aims to expand trade with the world's second largest economy, a senior company official said on Wednesday. The bulk of China's trade with the United Arab Emirates currently goes through Dubai, the regional hub, but Abu Dhabi is...

  • *Iran wants much higher share of OPEC production. ALGIERS, Sept 28- OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. That represents a strategy shift for Riyadh, which has previously said it would reduce output only if every other...

  • *Iran wants much higher share of OPEC production. ALGIERS, Sept 28- OPEC might still agree an oil output-limiting deal later this year as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. That represents a strategy shift for Riyadh, which has previously said it would reduce output only if every other...

  • *Poses big threat to rivals in Europe and elsewhere. *UberEats opens in Amsterdam, Tokyo, four other cities this week. In addition to Amsterdam UberEats says it is also due to launch services in Dubai, Johannesburg and selected areas of Tokyo on Thursday and plans to be in Brussels, Stockholm, Hong Kong, Taipei, Jakarta, and Bangkok in the coming months.

  • *IMF says Iraq must revise "too expensive" 2017 draft budget. The political infighting comes as major OPEC producer Iraq struggles to fill a public deficit left by the collapse in global prices for its crude exports. To replace missing oil revenue, Iraq has turned to the International Monetary Fund for a loan package, which would also serve as the basis for other...

  • TOKYO— Uber, which has struggled to win Japan over to its ride-sharing service, is hoping to fare better with takeout deliveries. UberEats opens Thursday, initially just in central Tokyo, ranging from simple dishes costing just hundreds of yen to Michelin- star dining at the equivalent of hundreds of dollars. Japan is the eighth nation, and Tokyo the 34th city, for...

  • *Kuwait banks gain after cbank says financial system stable. DUBAI, Sept 27- Saudi Arabia's stock index slumped 3.8 percent on Tuesday after the government said it would cut ministers' salaries by 20 percent and scale back financial bonuses and perks for public sector workers under an austerity drive. NCB Capital estimated allowances accounted for about a...

  • *Poses big threat to rivals in Europe and elsewhere. *UberEats launches in Amsterdam, five other cities this week. In a measure of rising ambition beyond its taxi business, Uber will begin delivering meals in Amsterdam on Thursday just as Dutch market leader Takeaway.com, begins trading on the city's stock market.

  • UberEATS app

    Uber is making a broad international push into takeaway meal deliveries, backed by a big staff recruitment and marketing campaign.

  • Showing its ambition to expand well beyond the core online taxi-hailing business, Uber announced on Tuesday the launch later this week of its UberEats meal delivery app service in Amsterdam, just as Takeaway.com, the local market leader in the Netherlands, is seeking a share listing. In addition, the company told reporters in Amsterdam that it will open the...

  • SINGAPORE, Sept 27- An international group that monitors money laundering said on Tuesday that Singapore should pursue more offenders involved in international cases and take more action to confiscate suspicious funds moving through the city-state. "Singapore maintains one of the lowest domestic crime rates in the world and therefore the bulk of...

  • In a sign of growing ambition beyond its taxi business, Uber is gearing up to deliver meals in Amsterdam this week just as Takeaway.com, the restaurant ordering leader in the Netherlands, lists on the Amsterdam stock market. The plan include 16 cities in 12 European countries ranging from Moscow to Madrid to Manchester, 11 new cities in nine Asian countries-...

  • RIYADH, Saudi Arabia— Saudi Arabia's King Salman is reducing the salaries and benefits of senior officials and the Cabinet cut bonuses for public employees on Monday, as lower oil prices continue to pinch the kingdom's economy. The royal decree orders a 20 percent reduction in the salaries of ministers, among them the king's successors: Crown Prince and...

  • *CIB top gainer in Egypt, but overall market volumes low. DUBAI, Sept 26- Saudi banking shares rallied on Monday after the central bank said it would deposit about 20 billion riyals at commercial lenders and introduce two new money market instruments to fight a surge in market interest rates caused by low oil prices. Blue-chip lenders Samba Financial Group and...

  • DUBAI, United Arab Emirates— Dubai Airports is boosting the number of specialized facilities to handle Airbus A380 planes at the Middle East's busiest airport as hometown carrier Emirates grows its fleet of the double-decker aircraft. The government-backed airport operator said Monday it plans to add 10 more A380 gates with air bridges at Dubai...

  • Current regulations on drones in the UAE, introduced in April 2015, relate mainly to commercial licensing and approving how companies use drones and are under constant development, al Dossari told reporters at a regional conference on drones in the UAE capital. "The Emirates Authority for Standardisation& Metrology is working on laws that will have a...