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Business Middle East

  • LAGUNA BEACH, Calif., Oct 19- Big cash infusions for startups from an ever-expanding group of financiers, led by SoftBank Group Corp and Middle East sovereign wealth funds, have extinguished hopes that the technology IPO market would bounce back this year. "It's not surprising if these companies get 10 term sheets," said Nicole Quinn, an investing partner with...

  • *Global refiners import U.S. oil to make up for OPEC cuts. SINGAPORE, Oct 20- Oil markets edged up on Friday, recovering some of the previous day's losses, as analysts pointed to signs of a tightening market. Brent crude futures, the international benchmark for oil prices, were at $57.31 at 0027 GMT, up 8 cents, or 0.1 percent, from their last close.

  • LAGUNA BEACH, Calif., Oct 18- Big cash infusions for startups from an ever-expanding group of financiers, led by SoftBank Group Corp and Middle East sovereign wealth funds, have extinguished hopes that the technology IPO market would bounce back this year. "It's not surprising if these companies get 10 term sheets," said Nicole Quinn, an investing partner with...

  • LONDON/ MOSCOW, Oct 20- Russian energy major Rosneft has agreed to take control of the main oil pipeline in Iraq's Kurdistan, further boosting its role as the main international investor in the semi-autonomous region. It came amid the crisis in Kurdistan's relations with the central government in Baghdad, which erupted after the region held an independence...

  • BRUSSELS, Oct 19- European Union leaders on Thursday reaffirmed their full commitment to the 2015 nuclear deal between Iran and world powers, hoping that the U.S. Congress would not let it collapse despite relentless criticism by President Donald Trump. Trump last week adopted a harsh new approach to Iran by refusing to certify its compliance with the nuclear...

  • RUSSIA'S ROSNEFT AND IRAQI KURDISTAN SIGN AGREEMENT FOR OPERATION OF OIL EXPORT PIPELINE IN THE KURDISH AUTONOMOUS REGION- ROSNEFT.

  • *Canadian dollar at C $1.2479, or 80.13 U.S. cents. TORONTO, Oct 19- The Canadian dollar slipped against the U.S. dollar on Thursday, retreating from a near one-week high earlier in the day, as oil prices fell and the rally in global stocks paused. "We still think the Bank of Canada goes in December again, and we're not anywhere fully priced for that, so there's probably more...

  • *Chevron suspends drilling activity in Kurdistan. HOUSTON, Oct 19- Oil prices fell more than 1 percent on Thursday, breaking four days of gains, pressured by larger-than-expected product inventories in the United States and profit-taking after a recent run-up in markets. "The geopolitical risk that came rushing into the market is starting to come out," said John...

  • Iraq to restore Kirkuk oil production by Sunday. HOUSTON, Oct 19- Oil prices fell more than 1 percent on Thursday, pressured by larger-than-expected product inventories in the United States, and some profit-taking after a recent run-up in oil benchmarks. Ongoing tension in the Middle East has been supportive, however, as reduced flows from the Iraqi Kurdish...

  • LONDON, Oct 19- Chevron has temporarily suspended oil and gas drilling activity in Iraqi Kurdistan, the company said on Thursday, in the latest setback to the region following recent unrest. In September, Chevron drilled its first exploration well in Iraqi Kurdistan after a two-year break. "We remain in regular contact with the Kurdistan Regional Government.

  • LONDON, Oct 19- Chevron has temporarily suspended oil and gas drilling activity in Iraqi Kurdistan, the company said on Thursday, in the latest setback to the region following recent unrest. In September, Chevron drilled its first exploration well in Iraqi Kurdistan after a two-year break. "We remain in regular contact with the Kurdistan Regional Government.

  • *Iraq to restore Kirkuk oil production by Sunday. HOUSTON, Oct 19- Oil prices slipped on Thursday, pressured by larger-than-expected product inventories in the United States, and some profit-taking after a recent run-up in oil benchmarks. Ongoing tension in the Middle East has kept a bid under the market, however, as reduced flows from the Iraqi Kurdish pipeline...

  • *OPEC expected to extend supply cuts through next year. LONDON, Oct 19- Oil prices slipped on Thursday but held on to most recent gains, supported by OPEC- led supply cuts, tension in the Middle East and lower U.S. production. Brent crude fell by $1.13 a barrel to a low of $57.02 before recovering a little to $57.30 by 1345 GMT.

  • *Canadian dollar at C $1.2481, or 80.12 U.S. cents. Prices of oil, one of Canada's major exports, slipped on profit taking. Oil had been supported in recent weeks by OPEC- led supply cuts, tension in the Middle East and lower U.S. production.

  • ISTANBUL, Oct 19- Turkey and Iran's central banks have formally agreed to trade in their local currencies, Prime Minister Binali Yildirim said on Thursday in a move aimed at increasing bilateral trade. The deal is in line with Iran's efforts to dodge unilateral U.S. sanctions, which remain intact despite the lifting of international financial sanctions on...

  • DUBAI, Oct 19- Saudi Arabia's plans to sell state assets- including a stake in energy giant Saudi Aramco- are becoming even more important to its finances as a recession slows Riyadh's effort to close a budget deficit caused by low oil prices. Last December, Riyadh released a plan to abolish the deficit by 2020, cutting it from $79 billion or 12.3 percent of gross...

  • *OPEC expected to extend supply cuts through next year. LONDON, Oct 19- Oil prices slipped on Thursday but held onto most recent gains, supported by OPEC- led supply cuts, tension in the Middle East and lower U.S. production. Brent crude fell $1.02 a barrel to a low of $57.13 before recovering a little to $57.20 by 1230 GMT.

  • *OPEC expected to extend supply cuts through next year. LONDON, Oct 19- Oil prices slipped on Thursday but held onto most recent gains, supported by OPEC- led supply cuts, tension in the Middle East and lower U.S. production. "OPEC is expected to roll over output restrictions for another nine months, supplies are at risk in the Middle East and U.S. inventories are falling."

  • BAGHDAD, Oct 19- Iraq won't be able to restore Kirkuk's oil output to last week's levels before Sunday because of missing equipment at two fields, an oil ministry official told Reuters on Thursday.

  • *OPEC expected to extend supply cuts through next year. LONDON, Oct 19- Oil prices slipped on Thursday but held onto most recent gains, supported by OPEC- led supply cuts, tension in the Middle East and lower U.S. production. "OPEC is expected to roll over output restrictions for another nine months, supplies are at risk in the Middle East and U.S. inventories are falling."