Business News United Arab Emirates

  • DUBAI, Nov 18- Global ports operator DP World believes international trade tensions such as those between the United States and China will make 2019 challenging but not unmanageable, its chairman said on Sunday. DP World Chairman Sultan Ahmed bin Sulayem told Reuters he believed the psychological impact of trade tensions involving the United States were...

  • DUBAI, Nov 17- Iran and Iraq could raise their annual bilateral trade to $20 billion from the current level of $12 billion, President Hassan Rouhani said on Saturday, despite concerns over the economic impact of renewed U.S. sanctions. Iranian trade officials denied that any food-for-gas scheme could be set up as Iran was a net exporter of food to Iraq.

  • DUBAI, Nov 17- Iran and Iraq could raise their annual bilateral trade to $20 billion from the current level of $12 billion, President Hassan Rouhani said on Saturday, amid concerns in Tehran over the economic impact of renewed U.S. sanctions. Rouhani's remarks, made after a meeting with visiting Iraqi President Barham Salih, came about two weeks after the United...

  • DUBAI, Nov 17- Iranian President Hassan Rouhani said on Saturday Iran and Iraq could raise annual bilateral trade to $20 billion from the current level of $12 billion, in remarks carried live by state television.

  • LONDON, Nov 15- Asian spot prices for liquefied natural gas fell this week despite several Japanese buyers in the market, as sellers held onto cargoes hoping for higher bids and used tankers as storage, which also reduced ship availability for other deals. Spot prices for January delivery in North Asia were heard at $10.90 per million British thermal units, 30...

  • NEW YORK/ DUBAI Nov 14- Saudi Arabia's sovereign wealth fund PIF is exploring the acquisition of up to a $700 million stake in Legendary Entertainment, the U.S. movie studio behind films such as " Jurassic World" and "Interstellar," according to people familiar with the matter. Such pushback would be the latest illustration of how fallout from Khashoggi's death is...

  • Mark Fisher, CEO of MBF Clearing Corp.

    The "worst is over" for the crude oil market, which had lost over a quarter of its value since early October, renowned energy trader Mark Fisher says.

  • A worker walks through an oil production facility owned by Parsley Energy in the Permian Basin near Midland, Texas, August 23, 2018. 

    OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December.

  • DUBAI, Nov 14- Saudi Arabian budget airline flyadeal aims to decide whether to order Airbus or Boeing narrow-body jets by the end of this month, its chief executive said on Wednesday. Flyadeal, a subsidiary of state-owned Saudi Arabian Airlines, had been due to decide on the order for 30 Airbus A320neos or Boeing 737 MAXs in the second quarter but held off to further...

  • BARCLAYS APPOINTED BY ABU DHABI COMMERCIAL BANK TO ADVISE ON MERGER PLANS- SOURCES.

  • ABU DHABI/ DUBAI, Nov 14- Barclays has been appointed by Abu Dhabi Commercial Bank to advise on a potential merger plan involving Union National Bank and Al Hilal Bank, banking sources told Reuters. ADCB, majority owned by the Abu Dhabi government and the second largest bank in the emirate after First Abu Dhabi Bank, declined to comment. FAB was created by last year's...

  • *Premium economy fares to New York as low as S $1,698 return. The carrier last month resumed after five years the world's longest commercial flight, a near-19 hour non-stop journey from Singapore to New York. The airline ordered seven new ultra-long range twin-engine Airbus SE A350-900ULRs fitted with just 67 business class and 94 premium economy seats for...

  • ABU DHABI, Nov 14- Abu Dhabi National Oil Co will remain wholly owned by the Abu Dhabi government and has no plan to go public, but the firm aspires to compete with Big Oil by expanding in refining and gas, ADNOC's CEO told Reuters. "ADNOC will continue to be wholly owned by one and only one shareholder, and that is the Abu Dhabi government," al-Jaber said.

  • UAE Artificial Intelligence Minister Omar Sultan AlOlama says the oil industry has "a lot of promise," and will see lower prices and higher yields if it adopts new technology.

  • ABU DHABI, Nov 13- Sudan's oil minister said on Tuesday he expected bidding to develop the country's oil and gas blocks to start in the third quarter of 2019, in a move he said would herald the country's "second oil boom." Although trade sanctions were removed last year, Sudan remains on the United States' list of state sponsors of terror, discouraging investors and...

  • People work at the Halfaya oilfield in Amara, southeast of Baghdad.

    OPEC continued to lower its forecast for oil demand in its latest monthly report, issuing its fourth consecutive downward revision to consumption growth for 2019.

  • Oil field workers tend to a pump jack.

    Big Oil should do all it can to embrace fast-improving Artificial Intelligence (AI) in the energy industry, according to the United Arab Emirates' (UAE) first minister dedicated to fostering the technology.

  • British Foreign Secretary Jeremy Hunt speaks to the media in Berlin, Germany.

    Jeremy Hunt is the first British minister to visit Saudi Arabia since the killing, said its results had to be reviewed before deciding on any consequences.

  • VALLETTA, Nov 12- Malta's opposition on Monday called for the tourism minister and the prime minister's top aide to resign after an investigation by Reuters and Times of Malta showed that Panama companies they had set up had arranged to receive money through a mystery company called 17 Black in Dubai. He said Prime Minister Joseph Muscat had said he would resign...

  • The main news from Sunday's meeting of producers in Abu Dhabi is that Saudi Arabia is planning to cut the amount it supplies in December by 500,000 barrels per day from November levels. It's no secret that the Saudis, and other producers in the Organization of the Petroleum Exporting Countries and its allies, would prefer crude prices to remain north of $80 a...