Business United Arab Emirates

  • SINGAPORE, Oct 4- U.S. crude futures held steady above $91 per barrel on Friday, after rising 4 percent in the previous session on escalating tensions in the Middle East, while continued global economic concerns are expected to weigh on prices.

  • OSLO, Oct 4- The evacuated Yme oil platform is at risk of collapsing into the Norwegian North Sea this winter, operator Talisman Energy warned safety authorities in a July letter seen by Reuters on Thursday.

  • OSLO, Oct 4- The evacuated Yme North Sea oil platform is at risk of collapse this winter, operator Talisman Energy warned safety authorities in a July letter seen by Reuters on Thursday.

  • Oct 4- Oil rig maker Lamprell said its chief executive Nigel McCue had stepped down along with two other senior managers, a day after its new chairman said he wanted to make changes at the top in the light of the company's fourth profit warning in a row.

  • DUBAI, Oct 4- Kuwait's unexpected 50 basis-point interest rate cut will help reduce borrowing costs for businesses but is not going to be enough to kick-start bank lending without a lasting solution to the country's political crisis.

  • DUBAI, Oct 4- Deals from two major banks this week have reopened the Gulf debt market after an extended summer lull, and highlighted the lower yields that investors in the region are settling for as liquidity continues to far outstrip supply.

  • DUBAI, Oct 4- Dubai's index hit a fresh five-month high on Thursday after the market regulator announced reforms aimed at boosting liquidity. "These reforms have been long-awaited and should increase liquidity in the medium term," said Kanaga Sunder, Gulf Baader Capital Markets head of research in Muscat.

  • *HSBC to focus Islamic business on Malaysia, Saudi Arabia and Indonesia. *Some job cuts at Amanah unit, rest to be merged into HSBC By David French. DUBAI, Oct 4- HSBC Holdings is to significantly scale back its global Islamic banking operations, it said on Thursday, as part of a wider restructuring at the U.K.- based bank.

  • DUBAI, Oct 4- HSBC Holdings is to significantly scale back the presence of its global Islamic banking operations, it said on Thursday, as part of a wider restructuring at the U.K.- based bank.

  • HERAT, Afghanistan, Oct 4- Afghanistan has imposed a cap on U.S. dollar flows across the border with Iran amid clashes there between Iranian police and protesters prompted by a collapse in the rial currency, Afghan police said on Thursday.

  • HERAT, Oct 4- Afghanistan has imposed a cap on U.S. dollar flows across the border with Iran amid clashes there between Iranian police and protesters prompted by a collapse in the rial currency, Afghan police said on Thursday.

  • DUBAI, Oct 4- Abu Dhabi family-owned conglomerate Al Jaber Group, in talks to restructure at least $1 billion in debt, has proposed to extend repayment by five years, two sources familiar with the company's plans said on Thursday.

  • *Morgan Stanley in commodities talks with Qatar for a year. DUBAI/ LONDON, Oct 4- Morgan Stanley's talks with Qatar's sovereign wealth fund over the sale of its commodities business have run into difficulty, and the deal may need to be reworked if it is to go ahead, banking sources said.

  • DUBAI, Oct 4- Shops in Tehran's Grand Bazaar stayed shut and police patrolled the area on Thursday as authorities struggled to restore normalcy a day after security forces clashed with anti-government protesters angered by the collapse of the currency.

  • DUBAI, Oct 4- Qatar International Islamic Bank. HSBC, Standard Chartered and QNB Capital. will arrange the investor meetings in the Middle East, Asia and Europe after which a dollar-denominated Reg S sukuk may follow, subject to market conditions.

  • ABU DHABI, Oct 4- Mubadala Development, the Abu Dhabi investment fund with a mandate to boost the emirate's local economy, swung to a profit in the first half driven by a drop in investment write-downs and higher revenues at its key businesses.

  • *Seadrill may move to London, Singapore* CEO Thorkildsen disagreed with move, leaves firm.

  • *Credit Suisse integrated boutique Clariden Leu last year. FRANKFURT/ DUBAI, Oct 4- Falcon Private Bank, a Swiss private bank owned by Abu Dhabi fund Aabar Investments, said it will acquire a London- based unit of boutique Clariden Leu from Credit Suisse, including some 2 billion Swiss francs in assets.

  • ATHENS, Oct 4- Greek police clashed with protesting shipyard workers who stormed the Defence Ministry complex in Athens on Thursday demanding back pay that they said they were owed. The head of the army's general staff, General Mihail Kostarakos, came out to address the protesters but was booed and heckled.

  • Several traders from the bazaar, whose merchants played a major role during Iran's 1979 Islamic revolution, told Reuters by telephone that most stores were closed as businessmen stayed away for safety reasons.