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  • The plan is not yet finalised and still has to be approved by UAE authorities, such as the Abu Dhabi Supreme Petroleum Council, the sources said. This all fits into a drive by Sheikh Mohammed bin Zayed to turn the UAE into a regional leader, "one of the sources said. The UAE, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, behind...

  • DUBAI, July 15- Private equity firm Actis said on Monday it had acquired the rights to manage two private equity funds previously managed by collapsed buyout firm Abraaj, in a deal aimed at strengthening its position in the Middle East and Africa. Abraaj, which filed for provisional liquidation in June 2018, was the largest buyout fund in the Middle East and North...

  • DUBAI, July 14- Kuwait is to issue a virtual telecom operator licence, effectively creating a fourth player in a market serving roughly four million people. Kuwait's Communications and Information Technology Regulatory Authority has issued a request for applications for the licence, according to a document seen by Reuters. Kuwait's current telecom...

  • DUBAI, July 14- Kuwait is to issue a virtual telecom operator license, effectively creating a fourth player in a market serving roughly four million people. Kuwait's Communications and Information Technology Regulatory Authority has issued a request for applications for the license, according to a document seen by Reuters. Kuwait's current telecom...

  • SEOUL, July 10- Chef Youm Jung- phil plans to close his restaurant in Seoul's affluent Gangnam district this month, worn down by the rising cost of labour and rent as well as declines in the number of customers eating in. The world's No. 4 market for online food orders, South Korea punches far above its population size in terms of sheer numbers of restaurants and...

  • Amazon led a $575 million fundraising in Deliveroo in May, making what the two parties called "a minority investment" and going up against Uber Eats in the global race to dominate the market for takeaway meal deliveries. On Friday Britain's Competition and Markets Authority said it served an initial enforcement order on the two companies on June 24, signalling...

  • *Amazon led $575 million fundraising in Deliveroo in May. Amazon led a $575 million fundraising in Deliveroo in May, making what the two parties called "a minority investment" and going up against Uber Eats in the global race to dominate the market for takeaway meal deliveries. The Deliveroo investment is Amazon's latest attempt to enter the takeaway delivery...

  • July 5- Britain's competition regulator on Friday took action to pause Amazon's investment in online food delivery group Deliveroo by serving an initial enforcement order on the two companies. Amazon led a $575 million fundraising in Deliveroo in May, pitting itself against Uber Eats in the global race to dominate the market for takeaway meal deliveries.

  • July 3- Most major Gulf stock markets slipped on Wednesday, in line with global equities amid concerns about a slowdown in the world economy, but Kuwait continued to rally in the wake of MSCI's decision to upgrade Kuwaiti equities to its main emerging markets index. Kuwait has outperformed its Gulf peers in anticipation of the MSCI move, gaining over 23%...

  • DUBAI, July 1- OPEC Secretary-General Mohammad Barkindo said on Monday he is confident that OPEC+ members will succeed in balancing oil production to guarantee market stability, Kuwait state news agency quoted him as saying.

  • RIYADH/ AMMAN/ CAIRO, June 23- Arab politicians and commentators greeted U.S. Set to be presented by Trump's son-in-law, Jared Kushner, at a conference in Bahrain on Tuesday and Wednesday, the blueprint envisions a global investment fund to lift the Palestinian and neighbouring Arab economies and is part of broader efforts to revive the Israeli-Palestininan...

  • RIYADH/ AMMAN/ CAIRO, June 23- Arab politicians and commentators greeted U.S. Set to be presented by Trump's son-in-law Jared Kushner at a conference in Bahrain on June 25-26, the blueprint envisions a global investment fund to lift the Palestinian and neighboring Arab economies and is part of broader efforts to revive the Israeli-Palestininan peace process.

  • RIYADH/ AMMAN/ CAIRO, June 23- Arab politicians and commentators greeted U.S. Set to be presented by Trump's son-in-law Jared Kushner at a conference in Bahrain on June 25-26, the blueprint envisions a global investment fund to lift the Palestinian and neighbouring Arab economies and is part of broader efforts to revive the Israeli-Palestininan peace process.

  • *$50 billion plan to be discussed next week in Bahrain. In Israel, Tzachi Hanegbi, a cabinet member close to Prime Minister Benjamin Netanyahu, called Palestinians' rejection of the $50 billion "peace to prosperity" plan tragic. But the lack of a political solution, which Washington has said would be unveiled later, prompted rejection not only from Palestinians but...

  • *$50 billion plan to be discussed next week in Bahrain. The $50 billion "peace to prosperity" plan, set to be presented by Trump's son-in-law Jared Kushner at a conference in Bahrain next week, envisions a global investment fund to lift the Palestinian and neighbouring Arab state economies. But the lack of a political solution, which Washington has said would be...

  • DUBAI, June 20- Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global supply cut pact expiring at end of June, OPEC sources said on Thursday, a signal that the Gulf exporters are reluctant to boost supply. Key OPEC producers Kuwait and the United Arab Emirates are also keeping their output in July within the...

  • *Strike comes amid rising U.S.- Iran confrontation. BASRA, Iraq, June 19- A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.- Iran tensions in the region. An Iraqi security source said it appeared that Iran- backed groups in southern...

  • DUBAI, June 18- Kuwait's ruling emir will visit Iraq on Wednesday, state news agency KUNA reported, saying the trip comes amid escalating regional tensions after attacks on tankers near the Strait of Hormuz. Six tankers have been hit in the past month in two attacks near the Strait of Hormuz, through which almost a fifth of the world's oil passes, and Washington and...

  • DUBAI, June 18- Kuwait's ruler will visit Iraq on Wednesday, state news agency KUNA reported, saying the trip comes amid unprecedented regional tensions after attacks on tankers in the Gulf. Sheikh Sabah al-Ahmad al-Sabah's visit will discuss bi-lateral relations and "comes amid unprecedented tensions and developments witnessed by the region", the agency...

  • KUWAIT EMIR TO VISIT IRAQ ON WEDNESDAY, VISIT COMES IN LIGHT OF ESCALATING REGIONAL TENSIONS AND ATTACKS ON OIL TANKERS- STATE NEWS AGENCY.