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Asia Top News and Analysis Dubai

  • *Australian shortage parallels one in the United States. Jan 19- A recruitment drive by Australia's Qantas Airways Ltd after a seven-year hiatus is exacerbating shortages of pilots at regional air services that provide a lifeline to remote communities in the country's sparsely populated Outback. As airlines from Asia, Europe and North America vie for pilots...

  • NANTES, France, Jan 18- Emirates announced a deal for up to 36 Airbus A380 aircraft on Thursday worth as much as $16 billion at list prices, saving the world's biggest passenger jet from death row and securing its future for at least another decade. The agreement hands a lifeline to the slow-selling aircraft, in service for just 10 years, and rescues one of Europe's...

  • *Egypt's Cleopatra Hospital seeking to take over Nozha. DUBAI, Jan 18- Mergers and acquisition activity in the health sector lifted Egypt's stock market on Thursday, while Gulf markets mostly moved sideways but Qatar rose on the back of a jump by food processor and livestock trader Widam Food. Nozha International Hospital jumped 10 percent to 75.62 Egyptian...

  • DUBAI, United Arab Emirates— The Middle East's largest airline, Emirates, is throwing Airbus a lifeline for its troubled A380 jumbo jet. "This new order underscores Airbus' commitment to produce the A380 at least for another ten years," said Airbus chief salesman John Leahy. Authorities in Britain and France are investigating alleged fraud and bribery related to...

  • DUBAI, United Arab Emirates— Emirates says it reaches $16 B deal with Airbus for more double-decker A380s amid questions over line's future.

  • DUBAI, Jan 18- Real estate developers seeking to build the world's tallest skyscraper in Jeddah have signed a 620 million riyal contract for infrastructure work at the site, signalling the project will go ahead despite a weak economy. Construction of the Jeddah Tower, originally projected to cost $1.2 billion, has been underway for several years and officials...

  • LONDON, Jan 17- The banks that will advise and execute Saudi Aramco's stock market listing are expected to share a tiny proportion of the $100 billion Riyadh hopes to raise in its initial public offering, according to banking sources and industry insiders. The listing of 5 percent of the state oil company's shares could be the largest IPO in history, almost five...

  • BRUSSELS/ NAIROBI, Jan 17- Police on Wednesday searched the headquarters of Belgian company Semlex, which supplies passports to various African countries, and the home of its CEO, Albert Karaziwan. About a dozen officers arrived at Semlex's office in Brussels and at Karaziwan's house in the city early in the morning. Earlier this week, authorities in the Comoros...

  • DUBAI, Jan 17- Weeks of talks between UAE energy firm Dana Gas and some local holders of a disputed $700 million sukuk have failed to reach an agreement, sources told Reuters, leaving a potentially protracted legal battle as the only available option for now. Dana proposed in June last year to swap its sukuk, held by international investors such as BlackRock as well...

  • *Medicare Group soars in heaviest trade since March. DUBAI, Jan 17- Gulf stock markets were mixed on Wednesday with Masraf Al Rayan, Qatar's second-largest bank by market value, pulling the Qatari stock index 0.2 percent lower. Among the gainers, Medicare Group surged 7.0 percent in its heaviest trade since March; it has doubled from its November low.

  • *Qatar had tumbled on Monday after UAE alleged aviation incidents. *Oman's Al Izz Islamic Bank surges after net loss narrows. DUBAI, Jan 16- Qatar's stock market rebounded on Tuesday, erasing a sharp fall suffered on the previous day, while other major Gulf bourses were firm on the back of strong oil prices after Brent crude rose above $70 a barrel for the first time...

  • LONDON, Jan 16- Saudi Aramco has not invited UBS and Bank of America Merrill Lynch to pitch for senior advisory roles in its stock market listing because they have not lent money to the state oil giant in recent years, according to five finance sources. The two investment banks, among the world's biggest, have not been asked to attend meetings in Saudi Arabia in the...

  • DUBAI, United Arab Emirates— Bahrain released radar tracks on Tuesday it said showed Qatari fighter jets passing by Emirati commercial airliners bound for the island nation, encounters which set off a new dispute pitting Qatar against the Gulf nations that have been boycotting it since last summer. The two alleged fly-bys on Monday morning could further...

  • *Morocco's current account gap set to shrink, reserves high. CASABLANCA/ DUBAI, Jan 15- Morocco's dirham barely moved against major currencies and there was little speculative trade as the central bank introduced a more flexible exchange rate on Monday, part of reforms recommended by the International Monetary Fund. The new system, designed to keep exports...

  • PARIS, Jan 15- French utility Engie hopes to boost earnings growth and partnerships in its core businesses of renewable energy, grids and energy services this year, after an estimated five percent gain in core earnings in 2017, its chief executive said. Isabelle Kocher said 2018 would be "decisive in terms of accelerating and deepening partnerships," pointing to...

  • *Qatar denies UAE allegation that it intercepted plane. *Dubai's Emaar Properties falls but Deyaar up in heavy trade. DUBAI, Jan 15- Saudi Arabian stocks continued rising on Monday on signs that Riyadh's crackdown on corruption is nearing completion, while Qatar's bourse fell steeply after the United Arab Emirates said Qatari fighter jets intercepted an...

  • *Morocco's current account gap set to shrink, reserves sufficient. CASABLANCA/ DUBAI, Jan 15- Morocco's dirham barely moved against major currencies and there was little speculative trade as the central bank introduced a more flexible exchange rate on Monday, part of free-market reforms recommended by the International Monetary Fund. The new system, designed...

  • *GRAPHIC: Asia refining margins vs. LAUNCESTON, Australia, Jan 15- The standout feature of China's crude oil and product trade data for December was the surge in exports of refined fuels to a record, but it already appears that this dynamic may not be sustainable. This meant that Chinese refiners were able to take advantage of strong prices for products in December,...

  • DUBAI, United Arab Emirates— The United Arab Emirates claimed Qatari fighter jets intercepted two of its commercial airliners in international airspace on the way to Bahrain, allegations denied by Qatar. The claims Monday could further escalate tensions between Qatar and the four Arab nations that have been boycotting it for months, among them the UAE, home to...

  • PARIS— Airbus said Monday it will stop making the costly A380 superjumbo if it can't strike a long-term deal with the airline Emirates for a steady supply of the planes. He said the Dubai- based airline is "the only one who has the ability" to commit to a minimum of six planes a year for a minimum of eight to 10 years, which Airbus needs to make the program viable.