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Asia Top News and Analysis Dubai

  • *Weak property stocks hits Dubai shares. *First Abu Dhabi Bank declines after last week's gains. DUBAI, May 27- Saudi stocks slid below a key barrier on Sunday, hurt by the latest drop in oil prices and concerns over valuations of blue-chip companies, while property and banking shares slipped in Dubai and Abu Dhabi after big gains last week.

  • DUBAI, May 27- Abu Dhabi- based Gulf Capital aims to invest $350 million over the next two years in areas such as consumer-led sectors and renewable energy, in a shift away from oil and gas and infrastructure. Gulf Capital sees opportunities in Saudi Arabia, where the government is creating an entertainment industry, including cinemas and a resort far bigger than...

  • *Talks among Saudi Arabia, Russia, UAE in St. Petersburg. ST PETERSBURG/ DUBAI, May 25- Saudi Arabia and Russia are discussing raising OPEC and non- OPEC oil production by some 1 million barrels a day, sources said, weeks after U.S. Trump tweeted last month that OPEC had "artificially" boosted oil prices.

  • *Talks among Saudi Arabia, Russia, UAE in St. Petersburg. ST PETERSBURG/ DUBAI, May 25- Saudi Arabia and Russia are discussing raising OPEC and non- OPEC oil production by some 1 million barrels a day, sources said, while OPEC's chief said a complaint from U.S. OPEC began a discussion about easing production cuts following a critical tweet from Trump, OPEC's...

  • *Dubai closes down, ending two-day rally. *Abu Dhabi, Qatar close higher but volumes remain weak. DUBAI, May 24- Qatari stocks led regional gains on Thursday after the government announced it was moving ahead with a draft law to allow full foreign ownership of companies.

  • *Cenbank proposed higher provisions for M&A loans. MOSCOW, May 24- A central bank proposal that banks make higher provisions to cover loans for mergers and acquisitions could hurt the banking sector and the economy, German Gref, chief executive of Russia's largest bank Sberbank, told Reuters. The combined bailouts have cost the central bank over 1 trillion...

  • *Dubai closes down, ending two-day rally. *Abu Dhabi, Qatar close higher but volumes remain weak. RIYADH, May 23- The Dubai market closed lower on Wednesday, ending a two-day rally as investors took profit on a select number of stocks, while blue chips led by Jabal Omar pushed the Saudi market into weaker territory.

  • RIYADH, May 23- Dubai markets edged lower in early trading on Wednesday as investors took profit from a two-day rally, while petrochemical stocks took a hit from easing oil prices and pushed the Saudi market into a weaker territory. The Dubai index shed 0.1 percent on Wednesday, with Emirates NBD losing 1.9 percent, reversing nearly 7 percent gains a day earlier...

  • *Dubai's Emirates NBD closes up 8.4 percent. *In Qatar, Commercial Bank and Doha Bank defy downgrade. DUBAI, May 22- United Arab Emirates stocks led regional gains on Tuesday, with Dubai's market bolstered by a surge in Emirates NBD after it agreed to buy Turkish lender Denizbank for $3.2 billion.

  • TOKYO— Electronics and entertainment company Sony Corp. said Tuesday it plans to spend $2.3 billion acquiring an additional 60 percent stake in EMI Music Publishing, home to the Motown catalog and contemporary artists like Kanye West, Alicia Keys and Pharrell Williams. Mubadala is a government-backed investment fund controlled by the emirate of Abu Dhabi,...

  • DUBAI, May 21- Dubai stocks climbed to a more than two-week high on Monday, as sentiment for property shares was lifted by a decision of the United Arab Emirates' government to grant residency visas of up to 10 years to investors and specialists. Emaar Properties rose 2.9 percent and DAMAC Properties climbed 4.8 percent, lifting the Dubai index by almost 1 percent...

  • DUBAI, May 21- Property stocks in Dubai and Abu Dhabi rose in early Monday trading after the United Arab Emirates approved a system to grant residency visas of up to 10 years to investors and specialists. Emaar Properties rose 4 percent and DAMAC Properties climbed 1.3 percent, lifting the Dubai index by 1.3 percent. The UAE cabinet also approved steps on Sunday...

  • DUBAI, United Arab Emirates— The United Arab Emirates, home to financial hubs Abu Dhabi and Dubai, is loosening its residency laws and will grant long-term visas for up to 10 years to investors and highly-skilled professionals. The 10- year residency visas will be granted to specialists in science, medicine and research, and to "exceptional students."

  • DUBAI, May 20- Gulf stock markets were mostly flat on Sunday amid low trading volumes and a lack of significant events. Most of the trading was concentrated on real estate developer Dar Al Arkan Real Estate Development Co., which was up 0.4 percent, and Alinma Bank, down 0.1 percent. Real estate developer Jabal Omar Development was among the best performers, up 3.9...

  • DUBAI, May 20- Gulf stock markets were mixed in early Sunday trading in light volumes, with Dubai dragged down by real estate developer Emaar and the Saudi exchange trading up, supported by last weeks gains in oil prices. Real estate developer Jabal Omar Development was among the best performers, up 6.1 percent, after announcing an agreement with Albilad Capital...

  • DUBAI, May 18- Arif Naqvi, the founder of one of the Middle East's biggest private equity firms, Abraaj, is facing calls from investors to further scale back his involvement in the group amid a row over misuse of funds, two people with knowledge of the matter said. Naqvi, who set up Dubai- based Abraaj in 2002, in February passed the reins of the fund management arm to two...

  • Dubai is diversifying beyond a reliance on oil: Knight Frank

    Liam Bailey of Knight Frank says the "deliberate attempt" by governments in Dubai to "wean" economies off a reliance on oil has been largely successful.

  • May 17- Uber Technologies Inc Chief Product Officer Jeff Holden is leaving the ride-hailing company, an Uber spokesman told Reuters on Thursday. Last month, Holden told the Uber Elevate Summit in Dallas that the company expected to deploy flying taxi services in Dallas-Fort Worth, Texas, and Dubai in 2020.. The Wall Street Journal earlier reported that Holden,...

  • *Order could be worth more than $40 billion at list prices. DUBAI, May 17- Dubai Aerospace Enterprise, one of the world's largest aircraft lessors, is in talks to buy a near-record total of 400 jetliners from Airbus and Boeing, its CEO told Reuters, in a $40 billion blowout that would match the order pipeline of rivals. The government-controlled Dubai firm is...

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