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Business Middle East

  • WASHINGTON, Dec 15- TRepublican negotiators in the U.S. Congress put the finishing touches on a sweeping tax overhaul and will release the details later on Friday, including plans for an expanded child tax credit aimed at winning the support of two wavering senators. Representative Kevin Brady, chairman of the tax-writing House Ways and Means Committee, told...

  • WASHINGTON, Dec 15- Trump administration officials briefed senators this week on how the White House was considering non-proliferation standards in a potential agreement to sell nuclear reactor technology to Saudi Arabia, but did not indicate whether allowing uranium enrichment would be part of any deal, congressional aides said. Non-proliferation...

  • WASHINGTON, Dec 15- Republican negotiators in the U.S. Congress put the finishing touches on a sweeping tax overhaul and will release the details later on Friday, including plans for an expanded child tax credit aimed at winning the support of two wavering senators. Representative Kevin Brady, chairman of the tax-writing House Ways and Means Committee, told...

  • WASHINGTON, Dec 15- Republican negotiators in the U.S. Congress worked furiously on Friday to put the finishing touches on a sweeping tax overhaul and expanded a child tax credit in an effort to win the support of two wavering senators. Republican Representative Kristi Noem said the refundable portion of an expanded child tax credit in the tax bill under...

  • *North Sea pipeline shut on Dec. 11. The 169- km pipeline, which carries about a quarter of all North Sea crude output and about a third of Britain's offshore gas production, has been closed since Monday, following the discovery of a small crack in part of the system onshore in Scotland. "Probably everybody's got revised dates now," a North Sea trader said, adding his...

  • *Sudan close to fast growing, wealthy markets. LONDON, Dec 15- Sudan's president is wanted for crimes against humanity, the economy has lost much of its oil output and the government is in arrears with the IMF. "The margins of profit in Sudan are more than the margins of profits in the region or elsewhere in the world, simply because the demand is so huge," he said this week...

  • BEIRUT— Lebanon will begin exploratory drilling for offshore oil and gas in 2019, Energy and Water Minister Cesar Abi Khalil said Friday, as the country hopes to find resources to shore up its indebted economy. "This is going to create a new sector in the economy," said Abi Khalil. Lebanon's economy is mired in debt and struggling to grow as the civil war in...

  • *BP to invest $200 mln Europe's largest solar developer. Dec 15- BP is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver profits and deepen its foothold in renewable energy. The London- based solar firm plans to quadruple its solar...

  • MOSCOW— Russia and Egypt signed a deal on Friday to resume flights between Moscow and the Egyptian capital of Cairo starting from February, after more than a two-year break, officials announced. Moscow suspended flights to Egypt after a bomb by the local Islamic State affiliate brought down a Russian airliner over Sinai in October 2015, killing all 224 people on...

  • MOSCOW— Russia's transportation minister: Direct flights between Moscow and Egypt's capital, Cairo, are to resume in February.

  • BEIJING/ LONDON, Dec 15- China's top oil and gas company CNPC is considering taking over Total's stake in a giant Iranian gas project if the French company leaves Iran to comply with any new U.S. sanctions, industry sources said. It was unclear when a vote would take place or what sanctions might be imposed, but they could bar companies working in Iran from also...

  • The world's middle class, made up mostly of people in North America and Europe, has by some measures fared the worst. Globalization has boosted incomes for hundreds of millions of people in developing countries, particularly China and India. It points out that the United States and Western Europe had similar levels of inequality in 1980, with the top 1 percent...

  • WASHINGTON, Dec 14- The World Trade Organization failed to conclude any new agreements at its biennial meeting this week, but U.S. Trade Representative Robert Lighthizer said in a statement on Thursday that the ministerial conference in Buenos Aires "will be remembered as the moment when the impasse at the WTO was broken." The U.S. trade agency and India's...

  • WASHINGTON, Dec 14- Republicans in the U.S. Congress reached a deal this week on a final version of their debt-financed legislation to cut taxes for businesses and wealthy Americans, with House and Senate votes expected early next week. Republicans control both chambers but have only a 52- to-48 Senate majority, meaning they can lose no more than two votes and...

  • Cyber-security company Dragos said the hackers targeted an organization in the Middle East, while a second firm, CyberX, said it believe the victim was in Saudi Arabia. Safety systems "could be fooled to indicate that everything is okay," even as hackers damage a plant, said Galina Antova, co-founder of cyber-security firm Claroty. "This is a watershed," said Sergio...

  • NEW YORK— The publisher of The New York Times Co. is stepping down after 25 years and will be succeeded by his 37- year-old son, the Times announced Thursday. Arthur O. Sulzberger Jr. will retire as of Dec. 31 but will remain as chairman of the board of directors, the Times said. A.G. Sulzberger will be the fifth generation of the Ochs-Sulzberger family to serve as...

  • Cyber-security company Dragos said it targeted an organization in the Middle East, while a second firm, CyberX, said it believe the victim was in Saudi Arabia. The attack demonstrates that plant safety systems "could be fooled to indicate that everything is okay" when hackers are potentially damaging a plant in the background, said Galina Antova, co-founder of...

  • WASHINGTON, Dec 14- The United States on Thursday presented for the first time pieces of what it said were Iranian weapons supplied to the Iran- aligned Houthi militia in Yemen, describing it as conclusive evidence that Tehran was violating U.N. resolutions. The arms included charred remnants of what the Pentagon said was an Iranian-made short-range ballistic...

  • BEIRUT— Lebanon's information minister says the Cabinet has approved licenses for three international companies to carry out exploratory drilling off the Lebanese coast. The licenses will allow Italy's Eni, France's Total and Russia's Novatek that bid for two of Lebanon's 10 offshore blocks to determine whether oil and gas exist in the area.

  • Mike Pence delays Middle East trip for possible tax bill vote

    Vice President Mike Pence is delaying his Middle East trip as Senate Republicans push to pass their tax plan.