Asia Top News and Analysis Dubai

  • Feb 24- Stock markets in the Middle East suffered sharp losses on Monday, with Saudi shares falling the most, as the rapid spread of coronavirus cases outside China darkened the outlook for world growth. Global shares also extended losses as worries about the impact of the virus grew, with the number of infections jumping in Iran, Italy and South Korea.

  • *Trains between Italy and Austria resume. SEOUL/ SHANGHAI, Feb 24- Fears grew on Monday that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for countries around the world, after sharp rises in infections in South Korea, Italy and Iran. A surge of infections in South Korea and Italy, and an alarming rise in the death...

  • *Third patient dies from virus in Italy. *WHO most concerned about cases with no China link. SEOUL/ SHANGHAI Feb 23- International concern about the spread of coronavirus outside China grew on Sunday with sharp rises in infections in South Korea, Italy and Iran.

  • *WHO most concerned about cases with no China link. SHANGHAI/ SEOUL, Feb 23- China reported another fall in new coronavirus infections outside of its epicenter on Sunday, but world health officials warned it was too early to make predictions about the outbreak as new cases and fears of contagion increased elsewhere. But new infections outside of China continued...

  • DUBAI, Feb 22- Saudi Aramco said on Saturday it had received regulatory approval to develop Saudi Arabia's Jafurah non-associated gas field and expects production to start in early 2024.. The OPEC producer, the world's top oil exporter, aims to become a gas exporter by then. Aramco plans to invest $110 billion to develop Jafurah, state news agency SPA said on...

  • DUBAI, Feb 22- Anti-Western hardliners are set to sweep Iran's parliamentary elections and appear favourites to clinch the presidency next year, but an economic crisis could force them to engage with the United States despite their tightening grip on power. Tehran has ruled out any talks with Washington unless it lifts crippling sanctions reimposed on Iran...

  • *China changes methodology for counting cases. The deserted shopping malls and cinemas of Daegu, a city of 2.5 million people, became one of the most striking images outside China of an outbreak that international authorities are trying stop from becoming a global pandemic. And in China, where the virus has killed more than 2,100 people and infected nearly...

  • SEOUL/ BEIJING, Feb 20- The streets of South Korea's fourth-largest city were abandoned on Thursday, with residents holed up indoors after dozens of people caught the coronavirus in what the authorities described as a "super-spreading event" at a church. The deserted shopping malls and cinemas of Daegu, a city of 2.5 million people, became one of the most striking...

  • SEOUL/ BEIJING, Feb 20- The streets of South Korea's fourth-largest city were abandoned on Thursday, with residents holed up indoors after dozens of people caught the coronavirus in what the authorities described as a "super-spreading event" at a church. The deserted shopping malls and cinemas of Daegu, a city of 2.5 million people, became one of the most striking...

  • SEOUL/ BEIJING, Feb 20- Scores of new coronavirus cases and a first death in South Korea fanned fears on Thursday of the global spread of the pathogen as research suggested it was more contagious than thought and China appealed to its Southeast Asian neighbours for solidarity. China, where the virus emerged in December, reported a sharp drop in new cases but the...

  • *New infections fall in China's Hubei province. *China cuts benchmark lending rate as virus hits economy. You want your capital as far away from China as possible, "said Chris Weston, Melbourne- based head of research at broker Pepperstone.

  • *New infections fall to 349 in Hubei province. *Iran deaths bring toll outside mainland China to 8. BEIJING, Feb 20- China reported a dramatic drop in new coronavirus infections on Thursday although scientists warned the flu-like pathogen may spread even more easily than previously believed, while more passengers disembarked a quarantined cruise ship off...

  • DP World delisting a huge loss for Nasdaq Dubai, analyst says

    Nishit Lakhotia, head of research at Sico, discusses DP World's decision to delist and move back into private ownership.

  • Feb 18- SoftBank Group Corp has pumped $2.5 billion of its own cash into new investments since October, people familiar with the matter said, hoping to restore its money-making credentials as it courts investors for a successor to its Vision Fund. SoftBank Chief Executive Masayoshi Son said last week the company may spend up to two years investing its own money...

  • DP World, which operates ports around the world from Hong Kong to Buenos Aires, will take on $8.1 billion in debt to finance the deal in which Port and Free Zone World, part of state investment vehicle Dubai World, will acquire the 19.55% of Nasdaq Dubai listed shares for $2.7 billion. It will also pay Dubai World $5.15 billion, helping it to meet outstanding...

  • All members of the Gulf Cooperation Council- Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Oman and Kuwait- stand to suffer from the travel restrictions, but the business hub of Dubai could see the biggest impact, they said. "Virus-related travel restrictions, if not lifted as we expect, could weigh on the GCC's hospitality industry, but more so in Dubai, which...

  • All members of the Gulf Cooperation Council- Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Oman and Kuwait- stand to suffer from the travel restrictions, but the business hub of Dubai could see the biggest impact, they said. "Virus-related travel restrictions, if not lifted as we expect, could weigh on the GCC's hospitality industry, but more so in Dubai, which...

  • LONDON/ SINGAPORE, Feb 17- Top oil traders have rented millions of barrels of crude storage in South Korea this month to hold excess supplies, betting on a demand spike after China recovers from the effects of the coronavirus outbreak, trading sources said. Supplies in the region are piling up after refineries in China, the world's largest crude importer, cut...

  • A gantry crane stands in the DP World Ltd. terminal at Port Metro Vancouver in Vancouver, British Columbia, Canada, on Wednesday, Sept. 19, 2018.

    Company executives described DP World's public trading as too beholden to short term returns.

  • CNBC's Uptin Saiidi and Gary Vaynerchuk backstage at an event in Dubai

    CNBC spent an afternoon with co-founder and CEO of VaynerMedia, Gary Vaynerchuck to learn about the man behind