Business News Middle East

  • NAIROBI, March 19- Financiers, passengers and industry partners are, for now, still backing Ethiopian Airlines' quest to become Africa's dominant carrier, despite a March 10 crash that killed 157 people. For the present, however, passenger confidence in Ethiopian Airlines, long regarded as one of the most reliable in Africa, has remained steady, according to the...

  • *Ports in Finland, Lithuania, Ireland, Russia restrict scrubbers. Singapore, China and Fujairah in the United Arab Emirates have already banned the use of the cleaning systems, called open loop scrubbers, from the start of next year when the new IMO rules come into force. Reuters has learned that individual ports in Finland, Lithuania, Ireland and Russia, have all...

  • *India gearing up for general election starting April. *India one of world's fastest-growing aviation markets. NEW DELHI, March 19- India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election, two...

  • PARIS, March 19- Drinks group Pernod Ricard, which is being targeted by activist investor Elliott, said its business in Europe, the Middle East, Africa and Latin America was well positioned for "solid top line growth and margin improvement." The region, which makes 29 percent of group sales, achieved first half 2019 sales growth of 3 percent driven by demand in...

  • *Semiconductor exports to China up 80 percent. *Israel pushing for deeper trade ties with China. TEL AVIV, March 19- Israel's exports of computer chips to China soared last year as Chinese companies bought more semiconductors made at Intel's Kiryat Gat plant.

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...

  • DUBAI/ RIYADH, March 18- Saudi Binladin Group's chief financial officer, Klaus Froelich, has resigned, two sources familiar with the matter told Reuters on Monday, following a restructuring of the construction giant under Riyadh's anti-corruption campaign.

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...

  • *Abu Dhabi's Dana Gas adds on share buyback plan. March 18- Saudi Arabia's benchmark stock index closed at its highest in nearly four years on Monday as bank shares rose on its first day as a member of FTSE Russell's emerging-market index, which is expected to attract billions in passive fund inflows. In the short term, the upside is limited since this was a...

  • RIYADH, March 18- Saudi Arabia's listed companies could see holdings by foreign investors rise to 10 percent when their shares are included in index providers MSCI and FTSE's emerging-market indices, the chief executive of Tadawul told Reuters on Monday. Tadawul is the Middle East's largest exchange and Saudi Arabia's main exchange. Hussan said he estimates...

  • RIYADH, March 18- Saudi Arabia's listed companies could see holdings by foreign investors rise to 10 percent when their shares are included in index providers MSCI and FTSE's emerging-market indices, the chief executive of Tadawul told Reuters on Monday. Tadawul is the Middle East's largest exchange and Saudi Arabia's main exchange. Hussan said he estimates...

  • MANAMA, March 18- As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital's roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment. Saudi Arabia, along with Kuwait and the United Arab Emirates, came to the rescue of Bahrain last year when a prolonged period of lower oil prices pushed...

  • CHRISTCHURCH/ WELLINGTON, March 17- As New Zealanders struggled to cope with the deadly mayhem in Christchurch, stories of heroism have emerged from the tragedy, including a worshiper who chased away the gunman armed only with a credit card machine. Brenton Tarrant, 28, has been charged with murder in relation to the killings, and police have said he will face...

  • markets mixed@ DUBAI, March 17- Saudi stocks dipped slightly on Sunday, a day ahead of the market's inclusion in the FTSE Russell's emerging market index, while other Gulf markets were mixed with Qatar down 1.1 percent on weakness in banks and real estate firms. "We can reasonably expect between 90 billion to 100 billion riyals inflows," said Muhammad Faisal Potrik,...

  • CHRISTCHURCH/ WELLINGTON, March 17- As New Zealanders struggled to cope with the deadly mayhem in Christchurch, stories of heroism have emerged from the tragedy, including a worshiper who chased away the gunman armed only with a credit card machine. Brenton Tarrant, 28, has been charged with murder in relation to the killings, and police have said he will face...

  • SYDNEY- Speech by Christopher Kent, RBA assistant governor, at the KangaNews DCM Summit, Sydney- 2200 GMT. SYDNEY- Reserve Bank of Australia releases the minutes of March monetary policy meeting 0030 GMT. WARSAW- National Bank of Poland holds monetary policy council meeting.

  • *New information shows similarities with Indonesia disaster. PARIS/ ADDIS ABABA, March 14- Boeing Co's 737 MAX 8 and 9 planes will be grounded for "weeks" until a software upgrade can be tested and installed, U.S. lawmakers said on Thursday, as questions mount about Sunday's deadly crash in Ethiopia. Investigators in France will begin analysing the crashed...

  • *Crashed Ethiopian Airlines jet's black boxes in Paris. PARIS/ ADDIS ABABA, March 14- Investigators in France will begin analysing the crashed Ethiopian Airlines jet's black boxes on Friday, seeking clues into a disaster that has angered scores of mourning families and grounded Boeing's global 737 MAX fleet. Relatives of the dead stormed out of a meeting with...