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  • RIYADH, July 19- Saudi Binladin Group, the kingdom's biggest construction conglomerate, appears to have pulled back from the brink of a financial crisis that risked damaging the wider economy. It was then barred from receiving new state contracts altogether after one of its cranes toppled into Mecca's Grand Mosque during a storm, killing 107 people.

  • SINGAPORE, July 17- Singapore's central bank is scrutinising several banks, including UBS and DBS Group Holdings, to see if they broke anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1 MDB, three people with knowledge of the matter said. Switzerland's Falcon Private Bank and Coutts International, which is...

  • July 14- Delta Air Lines Inc's decision to sell fewer seats from the United Kingdom this winter highlights the threat that Britain's planned exit from the European Union and new airline competition pose to U.S. airlines that have raked in cash from flights across the Atlantic. Air travel between the United States and Europe has churned out steady profits in the...

  • DUBAI, United Arab Emirates— One of the Middle East's biggest carriers, Qatar Airways, has announced an agreement to purchase a 49- percent stake in Italy's second largest carrier, Meridiana. Earlier in the week, Qatar Airways said it seeks to acquire an up to 10- percent stake of LATAM Airline's total shares through a capital increase of $613 million through the...

  • DUBAI, United Arab Emirates— A state-owned newspaper in the United Arab Emirates is reporting that an Emirati man has received a three-month prison sentence and a fine after being convicted of insulting his brother on Instagram. The newspaper says the unidentified defendant also must pay a 250,000- dirham fine under the sentence from the Khor Fakkan Court of...

  • NEW YORK, July 13- A self-described New York entrepreneur was arrested on Wednesday on charges that he conspired to hide the losses suffered by a hedge fund's clients in a scheme that involved bankrupt video technology company Kit Digital Inc.. Amanat, who was an investor in "Twilight" studio Summit Entertainment before its 2012 sale to Lions Gate Entertainment...

  • CAIRO— EgyptAir says it has purchased nine Boeing planes in an $864 million deal mostly financed by the United Arab Emirates. The airline said in a statement Wednesday that Dubai Aerospace Enterprise, which is partly owned by the investment arm of the Dubai government, will finance eight of the new planes. EgyptAir suffered a tragic loss in May when Flight 804, an...

  • July 13- Iran signed a Memorandum of Understanding with Russia's Zarubezhneft on Tuesday for a feasibility study on two joint fields in the west of the country, according to oil ministry news agency SHANA. Iran needs foreign investment for repairs and upgrading of its oil and gas fields. *Germany's Siemens AG signed an MoU in May with National Iranian Oil Company...

  • The aircraft, Solar Impulse 2, flew out of the Seville airport in Spain on Monday and landed at the Cairo International Airport on Wednesday morning. The flight, piloted by Swiss man Andre Borschberg, had arrived in Seville on June 23 after an unprecedented three-day flight across the Atlantic. The around-the-world voyage began in March 2015 in Abu Dhabi in the...

  • *Targets delivery of 12 A380s a year from 2018. FARNBOROUGH, England, July 12- Europe's Airbus on Tuesday cut the delivery target for its A380 superjumbo to 12 a year from 2018, down from 27 in 2015 and about half what is projected for this year, to prevent a glut of unsold planes as airlines shun the industry's behemoths. It announced the cutback late on the second day...

  • LONDON, July 11- Oil climbed slightly on Monday after shedding nearly 2 percent the same day, as signs emerged that U.S. shale drillers have adapted to lower prices and renewed indications of economic weakness in Asia weighed on prices. Iran set the official selling price of its light grade for Asia at $0.45 above the Oman/ Dubai average for August, down 40 cents on...

  • DUBAI, United Arab Emirates— One of the Middle East's biggest carriers, Qatar Airways, announced on Monday net profits of $445 million in 2016, up from $103 million the previous year. Qatar Airways operates a fleet of 186 aircraft, including the new Airbus A350 XWB, out of its hub in the vast new Hamad International Airport in Doha, which is preparing to host soccer's...

  • LONDON, July 11- Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs. Brent crude was trading at $46.43 per barrel at 1205 GMT, down 33 cents from its last settlement. Iran set the official selling price of its light grade for Asia at...

  • LONDON, July 11- Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs. Brent crude was trading at $46.26 per barrel at 0942 GMT, down 50 cents from its last settlement. Iran set the official selling price of its light grade for Asia at...

  • MADRID— An experimental solar-powered airplane has left Spain for Egypt in the penultimate leg of its globe-circling voyage. Organizers said the Solar Impulse 2 flew out of Seville airport Monday and was heading for Cairo. The around-the-world voyage began in March 2015 in Abu Dhabi in the United Arab Emirates and is due to finish there too.

  • *More indications of slowing economic growth in China, Japan. SINGAPORE, July 11- Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia. Brent crude was trading at $46.38 per barrel at 0653 GMT, down 38 cents from its last settlement.

  • *More indications of slowing economic growth in China, Japan. SINGAPORE/ TOKYO, July 11- Oil fell on Monday over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia. Iran has set the official selling price of Iranian Light grade for its Asian buyers at $0.45 above the Oman/ Dubai average for August, down 40...

  • *AirAsia group eyes possible JV in China to target rising cities. FARNBOROUGH, England, July 10- AirAsia is studying a dual listing in Hong Kong, part of plans to become a pan-Asian low-cost airline player as it also moves towards setting up a joint venture in China, people familiar with the matter said on Sunday. The Malaysia- based group is simultaneously looking...

  • July 8- Two former executives at New Jersey- based construction management company Louis Berger have been sentenced for their roles in a scheme to secure government contracts by bribing foreign officials, U.S. prosecutors said. Their sentencing capped an investigation into what the U.S. Justice Department called a long-running bribery scheme at Louis...

  • July 8- Two former executives at New Jersey- based construction management company Louis Berger have been sentenced for their roles in a scheme to secure government contracts by bribing foreign officials, U.S. prosecutors said. Their sentencing capped an investigation into what the U.S. Justice Department called a long-running bribery scheme at Louis...