Asia Top News and Analysis Dubai

  • ISTANBUL— Beset by a shaky currency and tension with the United States, Turkey is reaching out to Europe to shore up relations with major trading partners despite years of testy rhetoric and a stalled bid for EU membership. Also this week, Qatar pledged $15 billion in investments in Turkey and Russia's foreign minister talked about using national currencies...

  • *Market heavyweights FAB, Etisalat boost Abu Dhabi. DUBAI, Aug 15- Abu Dhabi shares ended 1.1 percent higher on Wednesday, bucking weakness in other major Gulf markets which were dragged down by concerns about the Turkish economy as market activity slowed ahead of a Muslim festival next week. Abu Dhabi index was boosted by gains in market-heavyweight First Abu...

  •  An oil tanker sits beside transfer pipes at a terminal as it prepares to unload its cargo of fuel on July 4, 2018 in Zhoushan, China. 

    Not a single tanker has loaded crude oil from the United States bound for China since the start of August, Thomson Reuters Eikon ship tracking data showed, compared with about 300,000 barrels per day in June and July.

  • DUBAI, Aug 14- Dubai's DAMAC Properties, owner and operator of the only Trump-branded golf club in the Middle East, is confident of its financial position despite registering its worst quarter in terms of booked sales since the company went public five years ago, its chief financial officer said. DAMAC is feeling the impact of a real estate market in Dubai that is...

  • ISTANBUL/ ANKARA, Aug 13- Turkey's lira pulled back from a record low of 7.24 to the dollar on Monday after the central bank pledged to provide liquidity, but it remained under selling pressure and its meltdown caused further unease on global markets. On Friday the slide turned into a crash: the lira dropped as much as 18 percent, hitting U.S. and European stocks as...

  • SAN FRANCISCO— Tesla CEO Elon Musk's elaboration on his plan to engineer a buyout of the electric car maker could get the Silicon Valley maverick into legal trouble by revealing that the deal is far more uncertain than how he initially described it in his brash tweet last week. It now appears as if financing for the deal is far from locked up, although Musk wrote on...

  • DUBAI, Aug 13- Saudi Arabia's stock index touched its lowest level in more than three months on Monday, with regional markets sinking as investors shied away from banks with links to Turkey's deepening economic turmoil. Attracted by its large population and surging economy, several Gulf banks have expanded into Turkey in recent years, most recently Dubai's...

  • DUBAI, Aug 13- Kuwait's Agility has teamed up with New York- based Centerbridge Partners for its bid to acquire all or part of stricken Middle East private equity firm Abraaj, according to a finance source. The pair are among potential buyers to emerge for the investment management unit of Dubai- based Abraaj, which filed for provisional liquidation in the Cayman...

  • *Emirates NBD drops in Dubai on Turkey's Denizbank deal. DUBAI, Aug 12- Gulf stocks fell on Sunday, pressured by general weakness across emerging markets as investors steered clear of assets perceived as risky due to a diplomatic and economic spat between the United States and Turkey. Other geopolitical factors, such as the reintroduction of U.S. sanctions on...

  • DUBAI, Aug 12- Emirates NBD, Dubai's largest bank, said on Sunday it was closely monitoring the situation in Turkey. The bank declined to comment on whether it was renegotiating the terms of its acquisition of Turkey's Denizbank from Russia's state-owned Sberbank, a $3.2 billion deal announced in May. In a research note, Arqaam Capital said the 37 percent plunge in...

  • OTTAWA/ RIYADH/ DUBAI, Aug 10- For years, Canadian pressure on human rights in Saudi Arabia had elicited no more than a standard rejection. When Riyadh responded to a call from Canadian Foreign Minister Chrystia Freeland to release civil society activists with an abrupt severing of diplomatic and trade ties, Canadian officials were left scrambling to...

  • DUBAI, Aug 11- A gas field development contract with France's Total, and China's state-owned CNPC remains unchanged, a senior Iranian oil official said according to the oil ministry news agency SHANA on Saturday- hours after state new agency IRNA quoted him as saying CNPC had taken Total's share in the project. "The role of the members of the consortium developing...

  • DUBAI, Aug 11- China's state-owned energy major CNPC has taken over the share in Iran's multi-billion dollar South Pars gas project held by France's Total, the Iranian state news agency IRNA reported on Saturday. "China National Petroleum Corp has replaced Total of France with an 80.1 percent stake in the phase 11 of the South Pars," IRNA quoted Mohammad Mostafavi,...

  • DUBAI, Aug 11- China's state-owned energy major CNPC has taken over the share in Iran's South Pars gas project held by France's Total, the Iranian state news agency IRNA reported on Saturday. Total has said it would pull out unless it secured a U.S. sanctions waiver. "China National Petroleum Corp has replaced Total of France with a 80.1 percent stake in the phase 11...

  • DUBAI, Aug 11- A top Iranian constitutional body has approved measures passed by parliament to bring the country more into line with global money-laundering norms, state media said on Saturday, as Tehran tries to attract investments despite the reimposition of U.S sanctions. Iran has been trying to implement standards set by the Financial Action Task Force, a...

  • OTTAWA/ RIYADH/ DUBAI, Aug 10- For years, Canadian pressure on human rights in Saudi Arabia had elicited no more than a standard rejection. When Riyadh responded to a call from Canadian Foreign Minister Chrystia Freeland to release civil society activists with an abrupt severing of diplomatic and trade ties, Canadian officials were left scrambling to...

  • Matt Schmid, senior vice president, Emirates North America, said by phone from Toronto that travel demand to and from the United States is back at levels from before January 2017. The carrier is also adding capacity in Canada, expanding its A380 service to the country's largest city, Toronto, effective Aug. 18. "There is very strong demand between Toronto and Dubai...

  • *But minister says row will not disrupt oil supplies to Canada. RIYADH, Aug 9- A row over human rights in Saudi Arabia will not have any impact on Saudi oil supplies to Canada, its energy minister said on Thursday, reassuring customers after Riyadh froze new trade with Canada and ruled out mediation efforts. Saudi Arabia, angered by Canada's demand last week that...

  • *Aldar properties, lender FAB pulls back Abu Dhabi. DUBAI, Aug 9- Gulf stocks were mostly lower, as volatile oil prices hit petrochemical and energy firms in the Saudi market, while lower-than-expected earnings of property firm Aldar Properties weighed on the Abu Dhabi market. Aldar Properties dropped 2.5 percent, as investors were disappointed after the firm...

  • RIYADH, Aug 9- A row over human rights in Saudi Arabia will not have any impact on Saudi oil supplies to Canada, its energy minister said on Thursday, reassuring customers after Riyadh froze new trade with Canada and ruled out mediation efforts. Saudi Arabia, angered by Canada's demand last week that jailed activists in the kingdom be freed immediately, expelled...