Asia Top News and Analysis Dubai

  • DUBAI, Oct 23- Saudi Arabia's stock market dived in early trade on Tuesday, the opening day of a three-day investment conference, amid persistent investor concern about global reaction to the killing of journalist Jamal Khashoggi. President Donald Trump said on Monday that he was still not satisfied with what he has heard from Saudi Arabia about the killing of...

  • *OPEC, Russia increase supplies to Asia. SINGAPORE, Oct 23- Spot Middle East crude oil cargoes are trading at discounts in Asia after OPEC producers increased supplies to replace Iranian oil and as natural disasters crimped demand from Japan, industry sources said on Tuesday. Saudi Arabia, Kuwait and the United Arab Emirates have increased exports to Asia after...

  • DUBAI, Oct 19- A Western boycott of a major business conference in Riyadh next week suggests rising political risks in Saudi Arabia could harm its ambitions to attract foreign capital and diversify its economy away from oil. Rather than whipping up interest in Saudi investment opportunities, the event risks becoming a public relations debacle because of the...

  • Oct 18- Goldman Sachs Group Inc will not send any of its executives to a Saudi investment conference next week, Chief Executive Officer David Solomon said in an interview with CNBC on Thursday. A number of top bankers and business leaders, including JP Morgan CEO Jamie Dimon, have decided not to attend the high-profile event in Riyadh amid mounting international...

  • *Qatar's Ahli Bank jumps on results. Oct 18- Saudi Arabia's stock index traded very narrowly on Thursday as fears partially eased that the disappearance of Saudi journalist Jamal Khashoggi could damage the market by hurting foreign investment. President Donald Trump said on Wednesday he did not want to walk away from Saudi Arabia and that the United States...

  • A Careem Networks FZ logo sits on the exterior of a driver support center at the ride-hailing company's headquarters in Dubai, United Arab Emirates. 

    The $200 million was the first close of a funding round in which Careem expects to raise over $500 million, the company said in a statement.

  • DUBAI/ SINGAPORE, Oct 17- Kuwait Petroleum Corp set the price for Kuwait Super Light Crude at $2.30 a barrel above Oman- Dubai quotes for October and at a premium of $3.05 a barrel for November, a source with knowledge of the matter said on Wednesday. KSLC's OSPs are more than $2 a barrel below that of Saudi's Arab Super Light crude and 50 cents a barrel higher than...

  • LAUNCESTON, Australia, Oct 17- The crude oil price appears firmly in the hands of geopolitical concerns, with veiled Saudi threats over the disappearance of a journalist and the ramping up of U.S. sanctions against Iran getting most of the attention. The disappearance, and presumed murder, of Saudi Arabian journalist Jamal Khashoggi at the Kingdom's consulate...

  • DUBAI, Oct 16- Saudi Arabia's sovereign wealth fund has pursued eye-catching investments abroad over the past several years, part of reform plans to diversify the economy beyond oil and transform the country into a high-tech investment powerhouse. The Public Investment Fund's pledges are now in the spotlight as the United States and other countries weigh...

  • DUBAI, Oct 16- Saudi Arabia's stock market fell early on Tuesday amid concern that international outrage over the disappearance of dissident journalist Jamal Khashoggi will hurt foreign investment. Saudi Arabia's biggest bank, National Commercial Bank, plunged 4.7 percent. Secretary of State Mike Pompeo arrived in Riyadh on Tuesday to discuss the affair.

  • DUBAI, Oct 15- Saudi Arabia's currency fell to its lowest level in two years and its international bond prices slipped on Monday over fears that foreign investment inflows could shrink as Riyadh faces pressure over the disappearance of journalist Jamal Khashoggi. Trade in the forward currency market, used by banks to hedge investments, suggested some...

  • DUBAI, Oct 15- Bahrain's foreign minister called for a boycott of the ride-hailing company Uber Technologies after its chief executive officer said he will not attend a business conference in the kingdom's ally Saudi Arabia. Uber's CEO Dara Khosrowshahi said in a statement last week he is pulling out of the Future Investment Initiative conference in Saudi...

  • TOKYO, Oct 15- Asian shares slipped on Monday as worries over Sino-U.S. trade disputes, a possible slowdown in the Chinese economy and higher U.S. borrowing costs tempered optimism despite a rebound in global equities late last week. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent while Japan's Nikkei dropped 0.9 percent.

  • MANILA, Oct 14- The Philippines said on Sunday it would suspend the implementation of a further increase in excise tax on fuel products, set to take effect in January 2019, to stem rising inflation expectations. The Department of Finance expects foregone revenues of up to 40 billion pesos a year from the suspension. The law allows for the suspension of the second...

  • DUBAI, Oct 14- Saudi Arabia's stock market plunged on Sunday as investors worried about deteriorating relations with the international community after the disappearance of Saudi journalist Jamal Khashoggi. Khashoggi, a prominent critic of Riyadh and a U.S. resident, disappeared on Oct. 2 after visiting the Saudi consulate in Istanbul. Turkey believes he was...

  • Oct 14- Saudi Arabia's stock market tumbled in early Sunday trade, as investors worried about deteriorating relations with the international community following the disappearance of a Saudi journalist, while markets in Abu Dhabi and Dubai rose. Jamal Khashoggi, a prominent critic of Riyadh and a U.S. resident, disappeared on Oct. 2 after visiting the Saudi...

  • HARGEYSA, Somalia, Oct 12- Dubai state-owned port operator DP World has launched a $101 million project to expand a port in the breakaway region of Somaliland. Somaliland broke away from Somalia in 1991 and has acted as a de-facto independent state since then but is not internationally recognised. The port in Berbera exports camels to the Middle East and imports...

  • *Rial's slide boosts inflation, causes shortages. DUBAI/ LONDON, Oct 11- Tomato paste is not the most obvious economic indicator, but in Iran, where it is a staple that some people have started panic-buying, it says a lot about the impact of renewed U.S. sanctions. While Iran makes its own paste from an abundant crop of locally grown tomatoes, sanctions reimposed by U.S.

  • LONDON, Oct 8- Trafigura is investing in a project that will formalise and monitor artisanal and small-scale cobalt miners in the Democratic Republic of Congo, the chief executive of the commodities trader said on Monday. Trafigura's project will be piloted on the Mutoshi mine in Congo and aims to train, provide protective equipment to and organise cobalt...

  • Taha Bouqdib, co-founder, CEO and president of TWG Tea.

    As global tea brand TWG celebrates its 10th anniversary, co-founder and CEO Taha Bouqdib shares his secrets for success.