×

Business United Arab Emirates

  • SAN FRANCISCO, Dec 12- Private jet startup JetSmarter said on Monday it had raised $105 million in financing from a range of investors including the Saudi Royal Family and rapper and businessman Jay Z. The service costs $15,000 in membership fees for the first year and $11,000 after that, according to the company website. Still, JetSmarter has caught the...

  • DUBAI, Dec 12- Abu Dhabi has signed the United Arab Emirates' second hyperloop feasibility study to build a futuristic high-speed transport system connecting the cities of Abu Dhabi and Al Ain. Abu Dhabi's Department of Municipal Affairs and Transport and U.S.-based Hyperloop Transportation Technologies announced the agreement, which follows a similar...

  • *Qatar index rises above 200- day average. *UAE, Egypt closed for public holiday. DUBAI, Dec 11- Stock markets in Saudi Arabia and Qatar posted broad-based gains on Sunday after OPEC and non- OPEC oil producers a day earlier reached their first deal since 2001 to curtail oil output jointly in a drive to prop up prices.

  • DUBAI, Dec 11- IranAir said it signed a deal on Sunday to buy 80 passenger planes from U.S. aircraft maker Boeing, state news agency IRNA reported, in the biggest U.S.- Iran deal since the 1979 Islamic revolution. In November, the U.S. House of Representatives passed a bill intending to block the sale of commercial aircraft to Iran, that would bar the U.S.

  • *Proposed wage cuts prompt strikes in Oman, Kuwait. DOHA, Dec 11- Ahmed, a Qatari civil servant, used to arrive at his office at a government ministry in Doha late in the morning and leave for home after lunch, collecting a monthly salary of 40,000 rial and a generous housing and travel allowance. "Qatar expects the best of its citizens."

  • *Latest move in Qatar energy sector to reduce costs. DOHA, Dec 11- Qatar will merge state-owned liquefied natural gas producers Qatargas and RasGas Co Ltd, the chief executive of Qatar Petroleum said on Sunday, in the Gulf state's latest reaction to lower energy prices. While Qatar is more focused on gas than oil, it too has been forced into reorganisations, with QP...

  • DUBAI, Dec 8- Emirates, the world's biggest long-haul airline, expects to introduce "premium economy" tickets within the next 12 to 18 months, according to its president, Tim Clark. The Dubai- based airline, faced with pressures on margins caused by a strong dollar and tougher competition, has recently added new revenue streams. Emirates reported on Nov. 9 a 75 percent...

  • *Dubai rises in healthy volume. *Abu Dhabi bolstered by strong gains in FGB, NBAD. DUBAI, Dec 7- Stock markets in the United Arab Emirates outperformed the region on Wednesday while investors booked profits in Saudi Arabian petrochemical shares and Egyptian blue chips.

  • ABU DHABI, Dec 7- OPEC's deal to cut oil production will go ahead even if Russia becomes the only non- OPEC country to commit to reduce output at a meeting this week, Nigeria said on Wednesday, while the UAE voiced optimism that other producers would participate. "Yes, we will go ahead, but we will continue to work on the rest to come onboard," Nigerian Oil Minister Emmanuel...

  • Saudi Crown Prince and Interior Minister Mohammed bin Nayef gestures during the meeting of Gulf Cooperation Council (GCC) Interior Ministers in Riyadh, Saudi Arabia, April 27, 2016.

    Persian Gulf states are plugging deficits by turning to international debt markets, and the risks vary across the region.

  • DUBAI, Dec 6- U.S President-elect Donald Trump could give the business jet market a much needed boost after a "tough" 2016, Boeing Business Jets President David Longridge said in Dubai on Tuesday. The international property tycoon has his own private fleet, including a Boeing 757, which he used to criss-cross the United States during the presidential campaign.

  • LONDON, Dec 6- A British clampdown on retail trading platforms prompted warnings among industry players and investors on Tuesday that some smaller firms may not be able to sustain their business under the new stricter rules. The Financial Conduct Authority placed limits on the leverage which can be offered to individual investors betting on currency and...

  • DUBAI, Dec 6- Boeing sees sales of its business jets rebounding over the next two years after a "tough" 2016, Boeing Business Jet President David Longridge said at a press conference in Dubai on Tuesday. Boeing Business Jets, which sells variants of Boeing aircraft for the corporate jet market, blames a more than halving of sales this year on the uncertainty created...

  • *Abu Dhabi swings higher in volatile session. DUBAI, Dec 6- The petrochemical sector helped carry Saudi Arabia's stock market to a fresh one-year closing high on Tuesday after crude oil prices hit a 17- month peak, while Egypt's market followed global shares upwards. The petrochemical sector stayed strong; it has been contributing to the market's positive...

  • Located in Dubai, IMG Worlds of Legends will feature eight property partnerships with global names such as Nickelodeon, Mattel and Pokemon, making the multi-billion dollar project one of the biggest global licensing deals of its kind. After years of few entertainment options in the Gulf, the vacuum is being filled as IMG Worlds and other theme parks and...

  • *Russia reported 30- year high output of 11.21 million bpd. *Russia, OPEC produce almost half of global oil demand. SINGAPORE, Dec 6- Oil prices eased on Tuesday as crude output rose in virtually every major export region despite plans by OPEC and Russia to cut production, triggering fears that a fuel glut that has dogged markets for over two years might last well into...

  • *To encourage new Islamic finance products using gold. Dec 5- Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. The Bahrain- based Accounting and Auditing Organization for Islamic Financial Institutions spent a year...

  • *To encourage new Islamic finance products using gold. Dec 5- Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much more actively. The Bahrain- based Accounting and Auditing Organization for Islamic Financial Institutions spent a year...

  • *Dubai dragged lower by blue chips. *Egypt's OTMT dumped on CEO departure, North Korea setback. DUBAI, Dec 5- Most stock markets in the Gulf fell on Monday as the mood on global exchanged darkened because of the' No' vote in Italy's referendum on constitutional reform, while Egypt's most heavily traded stock sank on news its chief executive would step down.

  • DUBAI, Dec 5- Stock markets in the Gulf fell in early trade on Monday as investors took profits on gains in the past few weeks after the mood in global markets darkened because of the' no' vote in Italy's referendum on constitutional reform. The euro has dropped to a 20- month low and investors are exiting riskier assets after Italian Prime Minister Matteo Renzi said...