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Business United Arab Emirates

  • West Texas Intermediate crude oil futures were trading at $53.27 per barrel at 0746 GMT, up 1 cent from the last day's settlement, when prices rose 2 percent. WTI prices were supported by an American Petroleum Institute report showing U.S. crude inventories fell 7.4 million barrels in the week ended Dec. 30 to stand at 482.7 million. "API Inventories show a...

  • NEW YORK, Jan 4- New York Governor Andrew Cuomo proposed a $10 billion renovation of John F. Kennedy International Airport and surrounding roadways on Wednesday, his latest salvo in a roughly $100 billion push statewide to bring decaying old infrastructure into the modern era. A proposed expansion of the Van Wyck Expressway, which leads to the airport, would cost...

  • The board of BRF in June approved the creation of One Foods, which was launched earlier this week. In November, BRF said it had hired banks to help bring investors into One Foods, which operates 10 plants and has 15,000 employees. According to BRF, One Foods controls 45 percent of the poultry market in Saudi Arabia, the United Arab Emirates, Kuwait, Qatar and Oman.

  • In a securities filing, BRF said the Dubai- based unit has been renamed One Foods Holdings Ltd, from Sadia Halal, with the goal of building market share in Middle Eastern countries.

  • NEW YORK, Jan 4- New York Governor Andrew Cuomo proposed a $10 billion renovation of John F. Kennedy International Airport and surrounding roadways on Wednesday, his latest salvo in a roughly $100 billion push statewide to bring decaying old infrastructure into the modern era. Those changes could cost up to $8 billion, with a proposed expansion of the Van Wyck...

  • NEW YORK, Jan 4- New York Governor Andrew Cuomo proposed a $10 billion renovation of John F. Kennedy International Airport and surrounding roadways on Wednesday, his latest salvo in a roughly $100 billion push statewide to bring decaying old infrastructure into the modern era. Those changes could cost up to $8 billion, with a proposed expansion of the Van Wyck...

  • Shuaiba oil refinery south of Kuwait City, Kuwait.

    Three countries responsible for more than half of OPEC's planned production cuts exported at records through the end of 2016.

  • *Palm Hills soars on new project in West Cairo. DUBAI, Jan 4- Stock markets in the Middle East where foreign funds are most active outperformed for a second straight day on Wednesday, with Egypt's index hitting a record high while Saudi Arabia was dragged lower by profit-taking. Palm Hills Development jumped 8.5 percent after saying it signed an agreement with the...

  • *Dubai, Qatar top two performers, following global shares. DUBAI, Jan 3- Stock markets in the Middle East gained on Tuesday, with those most exposed to international funds outperforming as global equities and crude oil prices firmed on their first full-scale trading day of 2017.. Qatar's main index climbed 1.6 percent with Commercial Bank, the top performer,...

  • *Saudi's Al Tayyar pulls back after surge on Sunday. DUBAI, Jan 2- Gulf stock markets were mixed on Monday as most reopened after the New Year, with Oman falling after the release of an austere state budget for 2017. Egypt edged down although foreign investors remained net buyers of stocks. Dubai's index rose 0.2 percent as much activity focused on speculative...

  • A file photo of Zurich, Switzerland

    Looking to move abroad in 2017? Six of the top ten countries for a successful expat career are in Europe, according to HSBC.

  • DUBAI, Jan 1- President Hassan Rouhani sought to reassure Iranians on Sunday that the government would work to protect market stability after the country's currency fell to a record low last week. He has said he will scrap the deal between Iran and world powers that imposed curbs on Tehran's nuclear projects and lifted sanctions on the Iranian economy last...

  • DUBAI, Jan 1- Turkmenistan stopped gas exports to Iran on Sunday in a long-running dispute over arrears, Iran's state gas company said, days after Tehran said the issue had been temporarily resolved. Tehran said in December that Turkmenistan had threatened to stop gas exports because of arrears, which amounted to about $1.8 billion and dated back more than a...

  • DUBAI, Jan 1- Turkmenistan stopped gas exports to Iran on Sunday in a long-running dispute over arrears, Iran's state gas company said, days after Tehran said the issue had been temporarily resolved. Tehran said in December that Turkmenistan had threatened to stop gas exports because of arrears, which amounted to about $1.8 billion and dated back more than a...

  • DAR ES SALAAM, Dec 31- Tanzania is in talks with banking giant Credit Suisse for a $300 million loan that would go towards financing infrastructure projects, the country's finance minister said on Saturday. Philip Mpango said Tanzania was also in separate talks with other lenders, including the Kuwait Fund for Arab Economic Development, the Abu Dhabi state fund...

  • *Dubai is top performer in Gulf for 2016. *Egypt soars but some funds now consider valuations rich. DUBAI, Dec 29- Most Middle Eastern stock markets closed higher on Thursday after a tumultuous year in which many bourses were hit hard by low oil prices, then recovered in the final few months as the economic outlook improved.

  • DUBAI, Dec 29- Emirates, the world's biggest long-haul airline, has taken delivery of its first Rolls-Royce engine-powered Airbus A380 superjumbo and has resolved its dispute with the engine maker over a technical issue. The A380 jet arrived in Dubai on Thursday morning, two days after Airbus said it would delay the delivery of 12 A380s to the airline over the...

  • DUBAI, Dec 29- Emirates, the world's biggest long-haul airline, has taken delivery of its first Rolls-Royce engine-powered Airbus A380 superjumbo and has resolved its dispute with the engine maker over a technical issue. The A380 jet arrived in Dubai on Thursday morning, two days after Airbus said it would delay the delivery of 12 A380s to the airline over the...

  • *Russia, Iran, Turkey want to broker Syria peace deal. MOSCOW/ ANKARA, Dec 29- Syria would be divided into informal zones of regional power influence and Bashar al-Assad would remain president for at least a few years under an outline deal between Russia, Turkey and Iran, sources say. Russia and Turkey would allow him to stay until the next presidential election when...

  • *Emaar Properties pulls down Dubai. DUBAI, Dec 28- Major Gulf stock markets were mixed in quiet trade on Wednesday although some second-tier Saudi petrochemical stocks rose sharply after oil prices climbed overnight. Dubai's index dropped 0.6 percent in moderate trading volume because of a 2.5 percent drop by Emaar Properties.