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Asia Top News and Analysis Dubai

  • DUBAI, United Arab Emirates— Ride-hailing service Uber on Tuesday began offering its customers in Dubai the option to ride in one of 50 new Tesla electric-powered vehicles— a stark contrast to the large gas-guzzling sedans and luxury sports cars that dominate the emirate's six-lane highways. The forward-looking emirate of Dubai and the oil-rich seat of the...

  • A typical Singapore refinery processing Dubai crude saw its profit margin rise to $9.07 a barrel in September, according to Reuters calculations, well above the $7.01 365- day moving average. The profit, or crack, from producing a barrel of gasoil in Singapore fell to $12.85 on Oct. 9, down from a peak of $15.82 on Sept. 8, when the global market was short of fuel in...

  • DUBAI, Oct 9- Qatar has been discussing with banks the idea of issuing an international bond this year, but no decision has been made yet, a Qatari finance ministry official told Reuters on Monday. Qatar issued a $9 billion bond in June last year with maturities of five, 10 and 30 years. But the country's access to the international bond market has been complicated by...

  • *Saudi Arabia expected to support oil prices ahead of Aramco IPO. SINGAPORE, Oct 9- Oil prices stabilised on Monday, after a 2 percent slide on Friday, as the number of rigs drilling for new oil in the United States dipped and on expectations that Saudi Arabia would continue to restrain its output to support the market. Trading activity was low on Monday due to the...

  • MONTREAL, Oct 8- Bombardier Inc's largest business jet is making its debut on Sunday in Las Vegas, giving a glimpse of the ultra long-range plane the Canadian company is counting on for growth at a time of sluggish industry sales and as it fights a trade battle over a separate jet. The new Global 7000, the industry's largest jet designed for private or corporate use,...

  • *Apple and Google cut some services to Iran. LONDON, Oct 6- Low on cash but high on hope, Iran's technology entrepreneurs are learning to live with revived hostility in the United States and growing suspicion- or worse- from hardliners at home. The atmosphere in Washington has soured again, with President Donald Trump signing legislation tightening domestic U.S....

  • *Merger talks fails to boost Arabian Cement. DUBAI, Oct 5- Most Gulf stock markets fell on Thursday, with Qatar falling for a third straight session to a new five-year low, but shares in Kuwaiti telecommunications operator Zain jumped on a rumour that Oman Telecommunications might expand its stake in the firm. Saudi-based insurer Metlife AIG ANB Cooperative...

  • *Merger talks fails to boost Arabian Cement. DUBAI, Oct 5- Most Gulf stock markets fell on Thursday, with Qatar falling for a third straight session to a new five-year low, but shares in Kuwaiti telecommunications operator Zain jumped on a rumor that Oman Telecommunications might expand its stake in the firm. Saudi-based insurer Metlife AIG ANB Cooperative...

  • *Dubai outperforms Abu Dhabi in active trade. DUBAI, Oct 4- Qatar's stock index sank to a five-year low on Wednesday as foreign funds continued to sell ahead of third-quarter corporate earnings, while banks in Egypt were hit by news that the central bank would raise the required reserve ratio. The Qatari index lost 1.6 percent in thin trade, bringing its losses...

  • *Egypt falls for first time in six days. DUBAI, Oct 3- Egypt's stock market fell on Tuesday, ending a six-day winning streak that took the blue-chip index to an all-time high, while Gulf bourses traded narrowly but a couple of petrochemical shares boosted Saudi Arabia. "After hitting 14,100 points on Monday, it is normal to see such an adjustment on Tuesday- the market...

  • *UAE banks held on to Qatar exposure after dispute erupted. In recent weeks, banking sources say, it has become clear to many UAE bankers that Qatar's isolation could potentially last for years. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Doha on June 5, alleging Qatar funded terrorism, something it vehemently...

  • *Egypt up again but profit-taking cuts gains. DUBAI, Oct 2- Most stock markets in the Middle East made small gains on Monday with Egypt hitting yet another all-time high, while the Saudi Arabian index edged down. Car rental company United International Transport climbed 3.2 percent and car servicing company Saudi Automotive jumped 4.0 percent in active trade.

  • Last December, Qatar and other global oil producers agreed to cut output to support prices. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Qatar on June 5, accusing it of backing terrorism, which Doha denies. The sanctions temporarily disrupted many imports into Qatar by closing its border with Saudi Arabia, and by...

  • *Saudi blue chips down on FTSE decision to delay upgrade. DUBAI, Oct 1- The Saudi stock index fell on Sunday after news that index compiler FTSE had decided to delay including Riyadh in its secondary emerging market index, while Kuwaiti blue chips were strong after FTSE included Kuwait. In its annual country classification review on Friday, FTSE praised Riyadh's...

  • A Volocopter 2X electric multirotor helicopter stands on display at the 2017 Frankfurt Auto Show on September 12, 2017 in Frankfurt am Main, Germany. The Frankfurt Auto Show is taking place during a turbulent period for the auto industry. Leading companies have been rocked by the self-inflicted diesel emissions scandal. At the same time the industry is on the verge of a new era as automakers commit themselves more and more to a future that will one day be dominated by electric cars.

    With a whirling buzz from 18 rotors, the pilotless helicopter gently lifted off the ground and soared up into the afternoon sky, the spire of the world's tallest building visible behind it.

  • *Kuwait and Abu Dhabi study trading operations. Iraq has teamed up with a Russian firm to set up a trading venture, while Abu Dhabi and Kuwait are studying trading plans. "They are trying to become more flexible and to capture extra margin within the market," David Fyfe, chief economist of commodities trading firm Gunvor, told Reuters on the sidelines of the Asia...

  • *CEO recruited from UK's MOD, worked before in Abu Dhabi. Sept 28- Abu Dhabi has recruited Britain's top defence buyer to run troubled Etihad Airways which is rethinking an aggressive expansion strategy that led it to huge losses last year. Tony Douglas, who has also run Abu Dhabi and London Heathrow Airports, will join Etihad as group chief executive in January...

  • *CEO recruited from UK's MOD, worked before in Abu Dhabi. Sept 28- Abu Dhabi has recruited Britain's top defense buyer to run troubled Etihad Airways which is rethinking an aggressive expansion strategy that led it to huge losses last year. Tony Douglas, who has also run Abu Dhabi and London Heathrow Airports, will join Etihad as group chief executive in January...

  • *Egypt pricing in end of monetary tightening. DUBAI, Sept 28- Egypt's stock index climbed on Thursday ahead of a central bank meeting on monetary policy later in the day, while the banking sector helped carry the Saudi index higher after news that the government had priced a $12.5 billion international bond issue. The main stock index rose 1.1 percent on Thursday...

  • Its overall target is $10 billion in the next 3 to 4 years, Gupta said late on Wednesday on the sidelines of the S&P Global Platts APPEC conference in Singapore. Swiss Singapore, which recently recruited a naphtha trader to grow its petrochemicals business, is planning to hire a derivatives trader to start a pure paper trading desk, Gupta said.