Business United Arab Emirates

  • *FTSE makes biggest one-day drop since June 2016. MILAN, Jan 17 (Reuters)- European shares ended flat on Tuesday, coming off lows after British Prime Minister Theresa May provided some clarity on her country's plans to leave the European Union. Concerns over a "hard" Brexit had been weighing on the pound in recent weeks, helping the FTSE end at all-time highs on Monday...

  • FRANKFURT, Jan 17- Germany's Lufthansa is not in talks about Etihad Airways taking a stake in the German airline, two sources familiar with the matter said on Tuesday, denying an Italian newspaper report that said it was. A source familiar with state-owned Etihad also said Abu Dhabi would not want to pay for a stake in Lufthansa. Il Messaggero earlier reported,...

  • *New Zealand exports dairy, meat, wood to Gulf. DUBAI, Jan 17- New Zealand is pressing to finalize a stalled free trade deal with the six-nation Gulf Cooperation Council that includes two of the Middle East's largest economies, Saudi Arabia and the United Arab Emirates. The GCC comprises Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Oman.

  • *New Zealand exports dairy, meat, wood to Gulf. DUBAI, Jan 17- New Zealand is pressing to finalise a stalled free trade deal with the six-nation Gulf Cooperation Council that includes two of the Middle East's largest economies, Saudi Arabia and the United Arab Emirates. The GCC comprises Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Oman.

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 76 cents at $56.52 a barrel by 1451 GMT, having risen earlier by more than $1 to a session high...

  • *Pan-European STOXX index up 0.1 pct; UK's FTSE down 1 pct. MILAN, Jan 17 (Reuters)- European shares steadied on Tuesday, coming off lows as British Prime Minister Theresa May detailed her country's position on leaving the European Union, helping banking and travel stocks turn positive. Britain's blue-chip FTSE fell 1 percent to the day's low as the sterling surged...

  • *Saudi Cement, Jabal Omar, Albilad up on higher Q4 profits. DUBAI, Jan 17- Qatar's stock market rose to a multi-month high on Tuesday in the heaviest volume since late November, buoyed by the banking sector, while firmer oil prices supported the rest of the Gulf and foreign investors bought up Egyptian shares. It reported an 8 percent drop in fourth-quarter net profit...

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 66 cents at $56.52 a barrel by 1304 GMT.

  • *Etihad mulls taking 30-40 pct stake in Lufthansa- Il Messaggero. MILAN, Jan 17- Germany's Lufthansa and Etihad Airways are in talks to possibly merge the two airlines, Italian newspaper Il Messaggero said in an unsourced report on Tuesday, boosting the German airline's share price. According to the paper, managers from both companies have for weeks been...

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 77 cents at $56.63 per barrel at 1020 GMT.

  • *Refinery outages hit crude demand just as OPEC cuts production. The higher Asian refining margins have beat back concerns that profits would fall as crude oil prices gained as the Organization of the Petroleum Exporting Countries and non- OPEC producers began to implement their agreed production cuts from January to reduce global oversupply.

  • Oil production cuts may usher in a new dawn for prices in 2017.

    Lack of investment in the oil industry has significantly heightened the risk of an oil price shock, according to the Crescent Petroleum CEO.

  • SINGAPORE, Jan 17- Oil prices were mixed on Tuesday, supported by Saudi Arabia saying it would adhere to a commitment to cut output, but held back by rising U.S. production and scepticism that OPEC as a whole would comply with its commitments to reduce supplies. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it...

  • SINGAPORE, Jan 17- Oil prices were mixed on Tuesday, supported by Saudi Arabia saying it would adhere to a commitment to cut output, but held back by rising U.S. production and skepticism that OPEC as a whole would comply with its commitments to reduce supplies. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it...

  • *Rising U.S. production seen offsetting OPEC cuts. SINGAPORE, Jan 17- Oil dipped on Tuesday on lingering concerns over global fuel oversupply due to rising U.S. output and doubts that OPEC and other producers would adhere to commitments to cut output in an effort to balance markets and prop up prices. Brent crude futures, the international benchmark for oil prices,...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by growth in U.S. crude production and Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 2 cents at $52.39 per barrel at 0540 GMT.

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by growth in U.S. crude production and Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 2 cents at $52.39 per barrel at 0540 GMT.

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Traders said markets were receiving some...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed. West Texas Intermediate crude oil futures were trading up 8 cents at $52.45 per barrel at 0231 GMT. Traders said markets were receiving some...

  • SINGAPORE, Jan 17- Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by skepticism in financial markets about the outlook for crude prices. Traders said markets were receiving some support from top crude exporter Saudi Arabia, which said it would adhere strictly to its...