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Business United Arab Emirates

  • DUBAI, United Arab Emirates— Donald Trump Jr. traveled to Dubai and met a billionaire business partner in the city-state, discussing "new ideas" as the Emirati's real estate firm still lists possible plans for future joint projects while Trump's father is in the White House. That didn't affect the Trump International Golf Club in Dubai's opening in February,...

  • HOUSTON/ NEW YORK, May 17- Oil tankers carrying roughly 2.5 million barrels of U.S. crude are currently en route to Asia, trade sources said on Wednesday, as U.S. producers take advantage of favorable prices to ship to Asia while OPEC ponders further supply cuts next week. But relatively cheap U.S. crude has buoyed exports to Asia. Traders expect that May U.S. crude...

  • HOUSTON/ NEW YORK, May 17- Oil tankers carrying roughly 2.5 million barrels of U.S. crude are currently en route to Asia, trade sources said on Wednesday, as U.S. producers take advantage of favorable prices to ship to Asia while OPEC ponders further supply cuts next week. But relatively cheap U.S. crude has buoyed exports to Asia. Traders expect that May U.S. crude...

  • HOUSTON, May 17- Halliburton Co said on Wednesday that Chief Executive Officer Dave Lesar will retire on June 1 and be replaced by Jeff Miller, Lesar's longtime deputy and fellow board member. Halliburton, with headquarters in Houston and Dubai, signaled last month that demand is rising, especially in North America's shale oil patch. Lesar, who became CEO after...

  • *Egypt's SODIC jumps on expansion plans, strong Q1 results. DUBAI, May 17- Egypt's stock market outperformed its Gulf peers on Wednesday on the back of strong first-quarter earnings and positive news from a real estate developer, while Saudi Arabia saw increased activity as traders took positions ahead of Ramadan. Egypt's index rose 1.0 percent as real estate...

  • DUBAI, May 17- An expansion of Dubai's Al Maktoum International Airport has been delayed by a year until 2018, the airport's operator said on Wednesday. Al Maktoum International, located on the edge of Dubai, is being gradually ramped up to take over from Dubai International Airport, currently the world's busiest and home to state-owned Emirates Airline.

  • DUBAI, May 17- An expansion of Dubai's Al Maktoum International Airport has been delayed by a year until 2018, the airport's operator said on Wednesday. Al Maktoum International, located on the edge of Dubai, is being gradually ramped up to take over from Dubai International Airport, currently the world's busiest and home to state-owned Emirates Airline.

  • NEW DELHI, May 17- Iraq replaced Saudi Arabia as top crude supplier to India in April as refiners moved to boost their processing margins by purchasing the cheaper Basra Heavy oil grade, ship tracking and Thomson Reuters trade flow data showed. India's April imports from Iraq topped 1 million barrels per day for the first time, up by about a third from March and 8...

  • DUBAI, United Arab Emirates— A Dubai firm's dream of towing icebergs from the Antarctic to the Arabian Peninsula could face some titanic obstacles. They are up for grabs to whoever can take them, "managing director Abdullah al-Shehi told The Associated Press in his Dubai office. The firm would send ships down to Heard Island, an Australian nature reserve in the...

  • *Dubai's DSI tumbles on Q1 net loss. DUBAI, May 16- Shares of Egypt's EFG Hermes and Talaat Mostafa diverged sharply on Tuesday on news that MSCI will swap the shares in its main Egyptian index, while Gulf equity markets were firm with the Brent oil price at $52 a barrel. Arqaam Capital analysts predicted passive net fund inflows of $33 million into EFG due to the index...

  • *Morocco wants at least $2 billion for plant- sources. DUBAI/ LONDON, May 15- Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to buy Morocco's only oil refinery, hoping to recoup about $600 million in loans they issued to the plant before it went bankrupt, industry sources said. Two sources close to the process...

  • The first of 20 ATR 72-600 s ordered by IranAir were handed over at Franco-Italian planemaker ATR's Toulouse headquarters and are scheduled to arrive in Tehran on Wednesday. The deliveries will bring to seven the number of new Western aircraft delivered to Iran since trade reopened under a deal between Tehran and major powers to ease sanctions in exchange...

  • *Riyadh aims to raise around $200 bln via privatisation scheme. DUBAI, May 16- One of the world's largest privatisation programmes is drawing foreign investment banks and private equity firms to Saudi Arabia, despite the prospect of low fees and an uncertain regulatory environment. "We see a lot more opportunities in Saudi Arabia because for the first time the...

  • Celebrities who are sick of being stalked by photographers at Los Angeles International Airport can now find some privacy— not to mention luxury— at a new terminal. The terminal is available to anyone who can afford fees up to $4,000 for a single flight. When it's time to catch their flights, passengers get a ride in shiny BMW sedans across the runway and straight to...

  • *Dubai's DXB Entertainments hits lowest level since April 2015. *Kuwait rises before MSCI index announcement. DUBAI, May 15- Middle Eastern stock markets were mixed on Monday with Saudi Arabia rising on the back of a rebound in oil prices and a continued slide by amusement park operator DXB Entertainments helping to drag down Dubai.

  • The Organization of the Petroleum Exporting Countries meets in Vienna on May 25 to consider whether to extend output cuts agreed in December last year between OPEC and 11 non-member countries, including Russia. With a nine-month extension now the minimum expectation for the OPEC meeting, the group has a lot of work to do to persuade its members and some non- OPEC...

  • DUBAI, May 15- DAMAC Properties expects around 11,000 to 12,000 residential properties to hit the Dubai market in 2017, a steady increase compared to the average over the last two years, the group's chief finance officer said. A total of 14,600 residential units entered the Dubai residential market in 2016, the highest since 2012, according to Jones Lang...

  • DAMAC PROPERTIES CFO EXPECTS 11,000-12,000 NEW RESIDENTIAL PROPERTIES TO BECOME AVAILABLE IN 2017 INDUSTRY-WIDE IN DUBAI.

  • BEIJING, May 15- Saudi Arabia and Russia, the world's two top oil producers, agreed on Monday on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices. The timing of the announcement ahead of OPEC's next official meeting on May 25 and the statement's strong wording surprised markets, and the...

  • The Organization of the Petroleum Exporting Countries meets in Vienna on May 25 to consider whether to extend output cuts agreed in December last year between OPEC and 11 non-member countries, including Russia. With a nine-month extension now the minimum expectation for the OPEC meeting, the group has a lot of work to do to persuade its members and some non- OPEC...