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Business Middle East

  • ADEN, Oct 6- Yemeni security forces foiled a plan by militants linked to al Qaeda to bomb an air base jointly used with the United States to carry out attacks against the group, a security official said on Saturday. The Al Anad air base is used jointly with U.S. forces to launch attacks against al Qaeda militants across Yemen, mainly using U.S.-controlled drones.

  • DUBAI, Oct 6- Iran's government was locked in a test of wills with currency dealers on Saturday as it tried unsuccessfully to impose a stronger rial exchange rate, after a plunge by the currency earlier in the week triggered street protests.

  • TEHRAN, Iran-- Iran's national currency is rebounding from record lows, days after protests flared in the country's largest display of anger at economic conditions since Western sanctions were tightened this summer. It was 24,000 rials earlier in the week, and close to 10,000 rials as recently as early 2011..

  • RIYADH, Saudi Arabia-- The head of the International Monetary Fund said Saturday that the economies of the oil-rich countries of the Gulf Cooperation Council will continue to enjoy high growth rates, although at reduced rates.

  • KUWAIT, Oct 6- Burgan Bank said on Saturday it had received approval from the Kuwaiti central bank for its planned purchase of Eurobank's Turkish arm. It will acquire 70 percent of the lender from Tekfen's Greek partner EFG Eurobank in a $355 million deal, while the remaining 29.26 percent stake will come from Tekfen Holding for an unknown sum.

  • BRUSSELS, Oct 6- Troubled Franco-Belgian bank Dexia is working on raising cash, its chief executive told Belgian business newspaper L'Echo in an article published on Saturday. "Every day that passes we get closer to the deadline, because Dexia is continuing to lose money," Karel de Boeck told the paper. "

  • JEDDAH, Saudi Arabia, Oct 6- Saudi Arabia's Kingdom Holding, the investment firm of Saudi billionaire Prince Alwaleed bin Talal, sold its interest in the Fairmont Hotel and Raffles Suites& Residences in Manila for 218 million riyals, it said on Saturday. Kingdom Holding has minority stakes in some of the world's top companies.

  • NEW YORK, Oct 5- Boeing Co said on Friday that Qatar Airways had taken delivery of a 787 Dreamliner plane. Qatar Airways was not immediately available for comment on Friday evening. Boeing spokesman Doug Alder said on Friday that the plane would "now head to Victorville, Calif., to install Qatar Airways' connectivity modifications."

  • *Sanctions mulled for more Iran central bank transactions. *Aimed at pressuring Iran to abandon nuclear program. WASHINGTON, Oct 5- U.S. lawmakers are considering expanding American economic sanctions on Iran- measures that already have helped push that country's currency into free fall but have not yet convinced Tehran to abandon its nuclear program.

  • *Supportive U.S. data offset by weak China, Europe reports. NEW YORK, Oct 5- Oil prices fell in volatile trading on Friday and posted weekly losses as a fragile global economy and uncertainty about Europe's debt crisis offset support from a better-than-expected U.S. employment report.

  • WASHINGTON-- A federal judge says the D.C. transit system must allow a pro- Israel ad that equates Muslim radicals with savages. District Judge Rosemary Collyer said in a one-page opinion Friday that the advertisement must be displayed no later than 5 p.m. on Monday.

  • Commodities Next Week: Looking to Syria & Turkey, Venezuela

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks ahead to where oil and precious metals are likely headed next week.

  • A big drop in the unemployment rate wasn't enough for investors Friday. The Labor Department said the unemployment rate had declined to 7.8 percent, its first dip below 8 percent in nearly four years. The drop to 7.8 percent in the unemployment rate "really is not a big game-changer," said Peter Cardillo, chief market economist at Rockwell Global Capital. "

  • *Supportive U.S. data offset by weak China, Europe reports. NEW YORK, Oct 5- Oil prices fell in volatile trading on Friday and posted weekly losses as a fragile global economy and uncertainty about Europe's debt crisis offset support from a better-than-expected U.S. employment report.

  • NEW YORK, Oct 5- At 68, Barbara Miller Elegbede is living proof that flower children need not grow up. A self-described hippie, she attended a San Francisco college at psychedelia's height and remembers friends constantly crashing on the couch of her apartment, just a block away from Janis Joplin's pad in the hip Castro neighborhood.

  • NEW YORK, Oct 5- Brent crude futures fell on Friday and posted a small loss for the week as a fragile global economy countered any support from a better-than-expected U.S. employment report, North Sea crude cargo delays and the threat of supply disruptions due to Middle East turmoil.

  • NORTH CHARLESTON, South Carolina, Oct 5- R epresentatives from Air India took delivery on Friday of the first Boeing Co 787 Dreamliner made in South Carolina and the first manufactured outside Boeing Commercial Airplane's headquarters in Washington state.

  • *May apply sanctions on Iran central bank transactions. *Aimed at pressuring Iran to rein in nuclear program. WASHINGTON, Oct 5- Lawmakers in the U.S. Congress are looking at ways to expand economic sanctions on Iran, measures that have helped push the country's currency into free fall but have not yet pressured Tehran to abandon its nuclear program.

  • WASHINGTON-- A new estimate puts the deficit for the just-completed 2012 budget year at $1.1 trillion, the fourth straight year of trillion dollar deficits on President Barack Obama's watch.