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Business Middle East

  • *Turkey, Syria fighting stokes concern over Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • Turkish shares were trading at their highest in 16- months, buoyed by hopes that ratings agency Fitch, due to conduct an annual review of Turkey soon, will upgrade its credit rating.

  • LONDON, Oct 11- U.S. crude futures rose more than $1 a barrel on Thursday, as rising tension between Syria and Turkey and a supply crunch in oil products pushed prices higher. November crude was up 99 cents at $92.24 a barrel by 1120 GMT, after rising to $92.31. Brent crude was up 89 cents at $115.22.

  • *Turkey, Syria fighting stokes worries about Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • Singapore, Oct 11- Jordan Petroleum Refinery. is seeking about 500,000 tonnes of high sulphur gasoil for delivery over December this year to February next year, a tender document showed on Thursday. The tender closes on Oct. 30.

  • DOHA, Oct 11- Qatar's regulator has proposed extending its ban on onshore banks operating Islamic windows to include financial institutions in the Qatar Financial Centre, according to a consultation paper released this week.

  • DAMASCUS, Oct 11- Syria said on Thursday a Damascus- bound plane forced to land in Ankara by Turkish fighter jets while en route from Moscow had been carrying legitimate cargo. "The plane was not carrying any illegal material," Ghaida Abdulatif, head of Syrian Arab Airlines, told reporters in Damascus. "

  • *Hungary inflation rate hits highest since July 2008. *Spain, euro zone worries weigh on emerging Europe assets. PRAGUE, Oct 11- The crown led losses in emerging Europe on Thursday after the Czech central bank governor said policymakers stood ready to intervene to weaken the currency if needed.

  • DAMASCUS, Oct 11- Syria said on Thursday a Damascus- bound plane forced to land in Ankara by Turkish fighter jets while en route from Moscow had been carrying legitimate cargo. "The plane was not carrying any illegal material," Ghaida Abdulatif, head of Syrian Arab Airlines, told reporters in Damascus. "

  • *Unitech surges after settlement with Telenor. MUMBAI, Oct 11- Indian shares rose on Thursday as expectations of better-than-expected earnings sent Infosys. and HDFC Bank higher a day before they report results.

  • OSLO, Oct 11- Nordic spot power prices were expected to fall on higher wind output and lower export capacity to Germany, analysts at Point Carbon said on Thursday.

  • LONDON, Oct 11- Turkish stocks hit 17- month highs on Thursday, shrugging off an escalating conflict with Syria as data showed an improving current account picture while the Czech crown lost 0.3 percent after comments by the central bank governor.

  • MOSCOW, Oct 11- The following are some of the leading stories in Russia's newspapers on Thursday. -The paper runs an interview with Ivan Tavrin, chief executive officer of Russia's second-largest mobile phone operator MegaFon who says the company earned more than its competitors on data transfer services in the first half of 2012..

  • DUBAI, Oct 11- Qatar International Islamic Bank launched a $700 million sukuk on Thursday, arranging banks said, at the lower end of revised price guidance in a reflection of healthy demand for the deal. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow an issue from Qatar Islamic Bank.

  • SINGAPORE, Oct 11- India's Essar Oil has sold a naphtha cargo to Shell at about $32 a tonne above Middle East quotes on a free-on-board basis, with premiums holding steady with two previous deals, traders said on Thursday.

  • *Turkey, Syria fighting stokes worries about Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • ASHGABAT, Oct 11- Turkmenistan's economy expanded by 11.1 percent in the first nine months of 2012, slowing from 14.6 percent in the same period a year ago, President Kurbanguly Berdymukhamedov was quoted as saying on Thursday. Turkmenistan's economic growth hinges on the development and exports of its natural gas riches.

  • LONDON, Oct 11- British prompt gas prices eased on Thursday morning as the system was almost balanced and supplies from Norway were expected to improve by the end of the week, analysts said.

  • Oct 11- Money supply in the United Arab Emirates grew 2.6 percent year-on-year at the end of August, ending a series of four straight monthly declines, central bank data showed on Th u rsday. Bank lending growth in the world's No. 3 oil exporter edged down to 3.2 percent year-on-year in August from a seven-month peak of 3.7 percent in July, the data also showed.

  • DUBAI, Oct 11- Qatar International Islamic Bank will issue a $700 million sukuk on Thursday, arranging banks said, and has revised earlier price guidance in a reflection of healthy demand for the deal. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow an issue from Qatar Islamic Bank.