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Business Middle East

  • CAIRO, Oct 10- Egypt's financial regulator said on Wednesday it would decide next week on whether to approve plans by Egypt's biggest investment bank EFG-Hermes to tie up with Qatar's QInvest.

  • MOSCOW, Oct 10- Gazprom Neft, the oil arm of Russia's top natural gas producer Gazprom, is still interested in Kurdistan's oil, a Gazprom Neft source said, rebutting reports it had frozen projects in the Iraqi province.

  • LONDON, Oct 10- Britain needs to create a market in which electricity storage can make money rather than adding costs to consumers if it is to successfully integrate renewables into the power grid, S&C Electric said on Wednesday.

  • LONDON, Oct 10- Britain needs to create a market in which electricity storage can make money rather than adding costs to consumers if it is to successfully integrate renewables into the power grid, S&C Electric said on Wednesday.

  • *Government will carry 2012 budget until new one passed. JERUSALEM, Oct 10- Finance Minister Yuval Steinitz said on Wednesday Israel's financial stability will be maintained in 2013, despite an early election called after the government was unable to agree on a budget.

  • JPMORGAN CHASE INC The U.S. bank has hired Ahmed Saeed from Nomura Holdings. The investment bank appointed Peter Young AM as chairman of Barclays Bank Plc. He was the chairman of investment banking in Australia and New Zealand at ABN AMRO and a member of the advisory board at Royal Bank of Scotland in Australia.

  • *NATO says plans in place to defend Turkey from Syria. LONDON, Oct 10- Brent crude oil fell towards $114 a barrel but remained close to a three-week high on Wednesday, as worries over the security of Middle East supplies outweighed increasing evidence of slowing global economic growth.

  • DUBAI, Oct 10- J.P. Morgan Chase Inc has hired Ahmed Saeed from Nomura Holdings to head up its Middle East business focused on public sector clients, the U.S. bank said in a statement on Wednesday.

  • *Canaccord Genuity raises centamin Egypt target price to C $2 from. Reuters Station users, click. 1568. Reuters Station users, click. 4899.

  • NEW DELHI, Oct 10- Russia delayed delivery of a trouble-plagued aircraft carrier for at least a year on Friday, a blow to India's efforts to quickly build up naval strength as increasingly assertive Asian rival China expands its maritime reach.

  • CAIRO, Oct 10- Revenue from Egypt's Suez Canal fell 2.5 percent to $435.3 million in September compared to the previous month, a state information portal showed on Wednesday. In September 2011 it was $438.3 million. The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.

  • LOS ANGELES, Oct 10- A California man behind an anti-Islam film that stoked violent protests in the Muslim world was due in court in Los Angeles on Wednesday for a hearing on whether he violated his probation on a bank fraud conviction and should be sent back to prison.

  • BAGHDAD-- Iraq's top energy official is predicting that the country's current oil production of 3.4 million barrels per day will double by 2015.. Deputy Prime Minister Hussein al-Shahristani on Wednesday also said Iraq's long term target is to produce up to 10 million barrels of oil daily by 2020..

  • Britain's FTSE 100 fell 0.3 percent to 5,792.95. Stock markets in Asia also posted losses, with the exception of mainland China, where shares rose a day after posting big gains on hopes that Chinese authorities were preparing sizeable steps to help reverse the decline in growth in the world's second-largest economy.

  • DUBAI, Oct 10- Qatar International Islamic Bank. HSBC, Standard Chartered and QNB Capital. QIIB's sukuk would follow a sukuk issue from Qatar Islamic Bank last week, which raised $750 million at a profit rate of 2.5 percent.

  • NEW DELHI, Oct 10- Russia delayed delivery of a trouble-plagued aircraft carrier for at least a year on Friday, a blow to India's efforts to quickly build up naval strength as increasingly assertive Asian rival China expands its maritime reach.

  • BAGHDAD, Oct 10- Iraq has picked U.S. firm CH2M Hill for a contract worth $170 million to help manage a water injection project, the head of state-run South Oil Co. said on Wednesday. "The South Oil Company has selected CH2M Hill to offer consultancy for the management of the seawater injection project," Dhiya Jaafar said.

  • *NATO says plans in place to defend Turkey from Syria. LONDON, Oct 10- Brent crude oil rose above $114 a barrel on Wednesday as worries over the security of Middle East supplies outweighed increasing evidence of slowing global economic growth.

  • DUBAI, Oct 10- Frontier Resources International Plc has signed an exploration and production sharing agreement with the Omani government for a 100 percent interest in Oman's Block 38, Frontier said in a statement on Wednesday. The EPSA runs for six years on the Mudayy Block, covering an area of 17,425 square kilometres in the Dhofar region of southwest Oman.

  • TOKYO, Oct 10- Japan's Toyota Motor Corp announced a massive recall on Wednesday to fix malfunctioning power window switches, saying it will pull back 7.43 million vehicles worldwide in the biggest single recall since 1996, performed by Ford Motor Co. The recall primarily affects cars in the United States, China and Europe.