Asia Top News and Analysis Dubai

  • RIYADH, Oct 14- President Vladimir Putin signalled Moscow's growing Middle East clout on Monday on his first visit to Saudi Arabia in over a decade, buoyed by Russian military gains in Syria, strong ties with Riyadh's regional rivals and energy cooperation. Moscow accrued power in the Middle East in 2015 by sending troops to Syria, where it and Iran have been key...

  • RIYADH, Oct 14- President Vladimir Putin signaled Moscow's growing Middle East clout on Monday by visiting Saudi Arabia for the first time in over a decade, buoyed by Russian military gains in Syria, strong ties with Riyadh's regional rivals and energy cooperation. Moscow accrued power in the Middle East in 2015 by sending troops to Syria, where it and Iran have...

  • DUBAI, Oct 14- Emirates doubts it will receive any of the 115 Boeing 777-9 s it has ordered next year, its president said on Monday, as the U.S. planemaker grapples with challenges in building the jet. Now it doesn't look like we will have any, " Tim Clark said at a conference in Dubai. There have also been issues with General Electric Cos new GE9X turbine engine that will...

  • *Higher freight, narrow Brent-WTI spread hit US oil flow to Asia. The cost of shipping crude from the Americas, Europe, Africa and the Middle East to Asia has surged over the past two weeks as companies shunned nearly 300 tankers on fears of violating sanctions against OPEC members Iran and Venezuela. Higher freight rates and a jump in crude premiums after the Saudi...

  • DUBAI/ MEXICO CITY, Oct 13- Emirates still has the right to offer flights to Mexico City, the Dubai state-owned carrier said on Sunday, after Mexican airline Aeromexico disputed an agreement between the United Arab Emirates and Mexico. Emirates said earlier this year it would start daily flights to Mexico City International Airport via Barcelona in December,...

  • *Saudi Arabia, U.S. blamed Iran for attacks on Saudi oil plants. RIYADH, Oct 13- Russia can play a positive role in easing tensions in the Gulf following a spate of attacks in the region, President Vladimir Putin said in comments published on Sunday before his first visit to Saudi Arabia in over a decade. Yemen's Houthi movement said it was behind the drone and missile...

  • *U.S. Navy aware of reports, but has no extra information. DUBAI, Oct 11- An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia's coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers and oil sites since May. The incident, which has yet to be independently...

  • *Higher freight, narrow Brent-WTI spread hit US oil flow to Asia. The cost of shipping crude from the Americas, Europe, Africa and the Middle East to Asia has surged over the past two weeks as companies shunned nearly 300 tankers on fears of violating sanctions against OPEC members Iran and Venezuela. Higher freight rates and a jump in crude premiums after the Saudi...

  • Oct 10- WeWork's India franchise has seen talks with local lender ICICI Bank Ltd on $100 million in funding break down since The We Company's botched stock market launch, and is in early discussions to raise $200 million from new investors, the venture's chief shareholder Jitu Virwani said on Thursday. Virwani's Embassy Group, backed by U.S. private equity fund...

  • DUBAI, Oct 10- Dubai's Majid Al Futtaim, which operates the Middle East franchise of French retailer Carrefour, is exploring options for its credit card business including enlisting partners to manage unsecured credit risk, two banking sources told Reuters. MAF, a holding company which also owns and operates shopping centres in the Middle East and North Africa,...

  • DUBAI, Oct 10- Dubai's Majid Al Futtaim, which operates the Middle East franchise of French retailer Carrefour, is exploring options for its credit card business including enlisting partners to manage unsecured credit risk, two banking sources told Reuters. MAF, a holding company which also owns and operates shopping centers in the Middle East and North Africa,...

  • DUBAI SUPERMARKET OPERATOR MAJID AL FUTTAIM CONSIDERS PARTIAL SALE OF NAJM CREDIT CARD BUSINESS- SOURCES.

  • BERLIN, Oct 8- German payments group Wirecard raised its long-term outlook on Tuesday, but the company's shares fell as analysts questioned the ability of any tech company to give a precise forecast for its business in five years' time. The forecast, presented ahead of an investor presentation in New York, implies that Wirecard's business will expand rapidly and...

  • The most obvious sign is that Oman crude futures on the Dubai Mercantile Exchange are trading at a premium to Brent futures, a reversal from the situation prior to the missile and drone strikes. But it's worth noting that Oman futures generally trade at a discount to Brent, reflecting the difference in the quality of the underlying crude grades.

  • *Son plans to go ahead with Vision Fund 2- sources. Son is still determined to go ahead with Vision Fund 2 even though some lieutenants have urged a delay, the two people with knowledge of Softbanks internal discussions told Reuters. Vision Fund and Softbank Group declined to comment on the progress of Vision Fund 2..

  • ZURICH/ HONG KONG, Oct 3- The announcement by Julius Baer this week that it had hired five senior bankers from Credit Suisse underscores the challenge facing Chief Executive Tidjane Thiam as he seeks to reassure staff and investors in the wake of a spying scandal. Preventing staff defections was at the heart of a decision by Credit Suisse to put former...

  • for Nov@ DUBAI, Oct 3- Saudi Arabia has set its November Arab light crude oil official selling price to Asia at a premium of $3 to the Oman/ Dubai average, up 70 cents a barrel from October, according to a statement from state oil company Saudi Aramco on Thursday. Saudi Arabia kept its November Arab light crude oil official selling price to the United States at plus $2.95...

  • DUBAI, Oct 3- Saudi Arabia has set its November Arab light crude oil official selling price to Asia at a premium of $3 to the Oman/ Dubai average, up 70 cents a barrel from October, according to a statement from state oil company Aramco on Thursday. Saudi Arabia kept its November Arab light crude oil official selling price to the United States at plus $2.95 versus ASCI,...

  • With temperatures in the desert city regularly exceeding 40 degrees Celsius in summer months, a massive 80% of the Dubai's food supply is imported — but the government is keen to reduce dependency on imported foods.

  • *Entire real estate sector slides in Dubai. Oct 2- Middle East stocks fell on Wednesday, mirroring a decline in global shares, with Dubai particularly hard hit as property companies declined sharply. In Dubai, the index closed 1.3% lower, extending losses for a second session with all its real estate stocks tumbling.