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Business United Arab Emirates

  • DUBAI, Jan 16- Emirates is opening up its lounges at its Dubai hub to lower-tier frequent flyer members in what is the latest move by the world's largest long-haul airline to look for new ways to boost revenues. In an email sent out to Skywards frequent flier members, seen by Reuters, passengers with Blue-tier status, the lowest of four membership categories, can pay...

  • ABU DHABI, Jan 16- Saudi Arabia will launch in coming weeks a renewable energy programme that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would in the next few weeks start the first round of bidding for...

  • ABU DHABI, Jan 16- Saudi Arabia will launch in coming weeks a renewable energy program that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would in the next few weeks start the first round of bidding for...

  • DUBAI, Jan 16- Emirates is opening up its lounges at its Dubai hub to lower-tier frequent flyer members in what is the latest move by the world's largest long-haul airline to look for new ways to boost revenues. In an email sent out to Skywards frequent flier members, seen by Reuters, passengers with Blue-tier status, the lowest of four membership categories, can pay...

  • *Refinery expected to be back online this week- source. SINGAPORE/ DUBAI, Jan 16- Abu Dhabi National Oil Company has shut half the capacity at its 800,000 barrels-per-day Ruwais refinery after a fire there last week, three industry sources familiar with the matter said on Monday. The refinery mainly processes ADNOC's flagship Murban crude and the producer has...

  • TOKYO, Jan 16- Japan's Inpex Corp said on Monday it had agreed with Abu Dhabi National Oil Co to extend its holdings in the Satah and Umm Al-Dalkh offshore oilfields in Abu Dhabi by about 25 years. The deal was reached during a weekend visit by Japan Trade Minister Hiroshige Seko to the United Arab Emirates. The Satah and Umm Al-Dalkh oil fields, operated by Zakum...

  • *Fund managers positive on Kuwait. DUBAI, Jan 15- Stock markets in the Gulf diverged on Sunday with Saudi Arabia stalling near a six-week low and Dubai retreating on profit-taking, while Kuwait continued to outperform. Interest in the sector has risen partly because of local media reports late last year that Saudi Arabia was looking at the possibility of...

  • The Organization of the Petroleum Exporting Countries agreed on Nov. 30 to cut output by 1.2 million bpd to 32.5 million bpd for the first six months of 2017, in addition to 558,000 bpd of cuts agreed by independent producers such as Russia, Oman and Mexico. Prices fell on Friday and ended the week 3 percent lower on lingering doubts over the extent of OPEC cuts, with...

  • VIENNA- Austria Central Bank Governor Ewald Nowotny to speak at event "Risks and Returns: Managing Financial Trade-Offs for Inclusive Growth in Europe and Central Asia" with World Bank officials. VIENNA- Austrian Finance Minister Hans Joerg Schelling to speak about 2017 economy and fiscal issues- 0930 GMT. VIENNA- ECB Governing Council Member Ewald Nowotny...

  • ABU DHABI, Jan 13- OPEC's Secretary-General has confidence in the commitment of oil producers who agreed to an output cut deal last month to ease a global glut that has depressed crude prices and hurt exporting countries' revenues. And Iraq, OPEC's second-largest producer, said it too had reduced production and exports and it was fully committed to the agreement.

  • *OPEC compliance peaked at 80 pct during cut in 2009- IEA. LONDON/ ABU DHABI, Jan 13- OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80 percent would be good and as low as 50 percent acceptable. OPEC and the independent producers are cutting...

  • *Senior executives generally bullish on India, praise Modi. GANDHINAGAR, India, Jan 13- Business leaders from around the world attending an investment summit in the western Indian state of Gujarat this week cheered Prime Minister Narendra Modi's reforms, and said the disruption caused by his radical demonetisation move should be temporary.

  • PARIS, Jan 12- Qatar Airways said on Thursday it was seeking guarantees from a potential new engine supplier after delays to Airbus jet deliveries, but said Boeing was ahead of schedule on its latest version of the 777, leaving scope to bring those jets forward. Qatar Airways remains in talks with CFM International about supplying engines for an upgraded order...

  • *Other key OPEC members begin cutting oil production. NEW YORK, Jan 12- Oil prices rose more than 1 percent on Thursday on news that key crude exporters, including Saudi Arabia and Russia, were cutting production to reduce a global crude glut, and on forecasts of record demand in China. "The market is in a consolidation pattern, and as we get more and more signs of them...

  • *Other key OPEC members begin cutting oil production. LONDON/ NEW YORK, Jan 12- Oil prices rose nearly 2 percent on Thursday on news that key crude exporters, including Saudi Arabia and Russia, were cutting production as promised in a deal to reduce a global glut and on forecasts of record demand in China. Brent crude oil hit a high of $56.43 a barrel before easing...

  • ABU DHABI, Jan 12- Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world's largest oil exporter leads OPEC's drive to eradicate a global glut and prop up prices. Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day- more than it had promised as part of a global output cut...

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices jumped more than $1 a barrel on Thursday on news that key OPEC members were cutting production as promised and on forecasts of strong demand growth in China. Several OPEC members appear to be implementing the deal.

  • *Dubai soft but ends week with gains. *Arabian Cement continues surge in Egypt. DUBAI, Jan 12- Saudi Arabia's stock market edged higher in volatile trade on Thursday but suffered its worst weekly decline since September, while Egypt extended its bull run as international funds accumulated shares.

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices rose more than $1 a barrel on Thursday on reports key OPEC members were starting to cut production as promised and on forecasts of strong demand growth in China. "All the focus is now on OPEC compliance, which seems to be moving ahead as planned," said Bjarne Schieldrop, chief commodities...

  • PARIS, Jan 12- Qatar Airways is seeking strict guarantees as it talks to CFM International about supplying engines for a revamped order for Airbus narrow-body jets, which it expects to finalise "soon", its chief executive said on Thursday. CFM exclusively supplies engines for the competing Boeing 737 aircraft, which Qatar Airways has also ordered.