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Business United Arab Emirates

  • "We simply can't cope with the expected volume of passengers with the way things are today," said Tony Tyler, director general and CEO of the International Air Transport Association, the airlines' trade group. Tyler spoke at an airlines conference held in Abu Dhabi, the capital of the United Arab Emirates.

  • India's Essar Oil has offered its first November loading cargo which will make it the company's fifth diesel export in two years.

  • LONDON, Oct 12- European stocks were set to open slightly lower on Friday as expectations for a weak earnings season and lingering uncertainty about Spain's debt crisis kept investors on the back foot after healthy gains in the previous session. Financial spreadbetters expected Britain's FTSE 100 to open 15 to 18 points lower, or as much as 0.3 percent.

  • Porsche indicated 0.6 pct lower, Volkswagen 0.1 pct lower. The holding company of German carmaker Porsche has received a fresh lawsuit from the family of a deceased industrialist, linked to its 2008 attempt to take over Volkswagen.

  • *Nifty futures on the Singapore Exchange. FACTORS TO WATCH* Infosys, India's no. 2 software services provider, will report September quarter earnings. *A committee, led by prime minister's Economic Advisory Council chief C. Rangarajan, will recommend lifting curbs on India's tightly controlled sugar sector.

  • SINGAPORE, Oct 12- U.S. crude rose towards $93 a barrel on Friday, supported by escalating tensions between Turkey and Syria and supply disruptions at North Sea oil fields. climbed 25 cents to $92.32 a barrel in early Asia trading, after gaining nearly a dollar the previous session.

  • *Aabar stake falls to zero from 3.07 pct on Oct. 5. FRANKFURT, Oct 11- Abu Dhabi's sovereign wealth fund Aabar sold its remaining 3.07 percent stake in Daimler worth about 1.25 billion euros on Oct. 5, the German carmaker said in a regulatory filing on Thursday.

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • *Limitless to now be owned by Dubai government. DUBAI, Oct 11- Indebted Dubai property firm Limitless has concluded the restructuring of a $1.2 billion loan, bringing to an end talks that have lasted over two years.

  • DUBAI, United Arab Emirates-- An indebted property division of Dubai World behind plans to dig a massive canal through the Dubai desert says it has completed a deal to rework the terms on $1.2 billion of loans.

  • KUWAIT/ RABAT, Oct 11- Morocco's King Mohammed is to make a rare official tour of Gulf Arab countries later this year as his cash-strapped government seeks alternatives to its crisis-hit European trade partners. The monarch will also travel to Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and Oman, Jarallah said.

  • DUBAI, Oct 11- Qatar International Islamic Bank. HSBC Holdings, Standard Chartered and QNB Capital, a unit of Qatar National Bank were mandated bookrunners on the deal. Last week, Qatar Islamic Bank sold $750 million in a five-year sukuk at 2.5 percent.

  • DUBAI, Oct 11- Limitless, the indebted property arm of Dubai World, has reached an agreement with creditors to restructure a $1.2 billion Islamic loan, the company said on Thursday. Limitless will also shortly commence a procees to transfer ownership of itself to the Dubai government from conglomerate Dubai World, it said in a statement.

  • *Middle East allocated much more of sukuk than expected. DUBAI, Oct 11- Turkey's first sovereign sukuk issue was a public relations triumph but it's been a financial disappointment so far in the secondary market, showing the risks of over-allocating debt deals to a single region.

  • DUBAI, Oct 11- Qatar International Islamic Bank launched a $700 million sukuk on Thursday, arranging banks said, at the lower end of revised price guidance in a reflection of healthy demand for the deal. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow an issue from Qatar Islamic Bank.

  • Oct 11- Money supply in the United Arab Emirates grew 2.6 percent year-on-year at the end of August, ending a series of four straight monthly declines, central bank data showed on Th u rsday. Bank lending growth in the world's No. 3 oil exporter edged down to 3.2 percent year-on-year in August from a seven-month peak of 3.7 percent in July, the data also showed.

  • DUBAI, Oct 11- Qatar International Islamic Bank will issue a $700 million sukuk on Thursday, arranging banks said, and has revised earlier price guidance in a reflection of healthy demand for the deal. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow an issue from Qatar Islamic Bank.

  • Oct 11- The United Arab Emirates central bank's foreign currency assets rose to 189.1 billion dirhams in August from 186.8 billion in the previous month, mainly because of a rise in holdings of foreign securities, its data showed on Thursday. UAE C.BANK FOREIGN CURRENCY ASSETS AUG 2012 JULY 2012.

  • KUWAIT, Oct 11- Morocco's King Mohammed plans to tour Gulf Arab countries in the next few weeks to discuss investment and bilateral relations, a senior Kuwaiti official said on Thursday. King Mohammed will travel to countries in the Gulf Cooperation Council, which comprises Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and Oman, Jarallah said.

  • KUWAIT, Oct 11- Morocco's King Mohammed plans to tour Gulf Cooperation Council countries in the next few weeks to discuss investment and bilateral relations, a senior Kuwaiti official said on Thursday. King Mohammed is expected to visit Kuwait as part of the tour in October or November, he said.