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Business United Arab Emirates

  • RIYADH, April 19- Vox Cinemas, owned by Dubai's Majid Al Futtaim, said on Thursday it had received a licence to operate cinemas in Saudi Arabia and would open a four-screen multiplex theatre in Riyadh "in the coming days". Vox said in a statement it was investing 2 billion riyals in Saudi Arabia to open 600 screens in the next five years, starting at Riyadh Park Mall...

  • *Wall Street digesting Blackstone earnings drop. LONDON, April 19- Talk that Saudi Arabia has its sights on $80- $100 a barrel oil again and of more U.S. sanctions on Russia ignited a rally in commodities and resource stocks on Thursday, though the potential boost to inflation hit fixed-income assets. The surge came on a Reuters report that OPEC's new price hawk...

  • *FAA says engine inspection to take two hours. SINGAPORE/ PARIS, April 18- Global airlines began inspecting some Boeing 737 engines on Wednesday as an investigation gathered pace into an explosion which killed a passenger on a Southwest Airlines flight in the first fatal U.S. airline accident in almost a decade. French accident investigators said on Wednesday...

  • DUBAI, April 18- Emirates has revived prospects of non-stop flights to Panama, the airline said on Wednesday, encouraged by development potential in Latin America. The Middle East airline shelved plans for flights to Panama City from its Dubai hub in early 2016 after it was unable to secure enough code-share agreements to make the route feasible.

  • *FAA says engine inspection to take two hours. *Korean Air says 20-30 pct of 737 fleet of affected type. French accident investigators said they would send a team on Wednesday to assist the investigation led by the Washington- based National Transportation Safety Board because the engine was developed by a French-U.S. joint venture, CFM International.

  • ABU DHABI, United Arab Emirates— Abu Dhabi will open a $1 billion indoor Warner Bros. amusement park this July, officials announced Wednesday, the latest offering in a crowded market in the United Arab Emirates where one marquee park already faces serious financial problems. World park, built by the Abu Dhabi government-owned Miral Asset Management,...

  • ABU DHABI, April 18- Abu Dhabi hopes the opening of a $1 billion Warner Bros theme park in July will help it in its bid to nearly double the number of tourists visiting the emirate over the next few years. The Warner Bros park will be an added attraction, but with neighbouring Dubai already a leading tourist destination and given the huge investment in the theme park,...

  • *First Abu Dhabi Bank pulls up index. *Dubai closes down as ex-dividend Aramex slips. RIYADH, April 17- Saudi Arabia's stock market continued a strong uptrend on Tuesday on the back of petrochemical and banking stocks, while rising telecoms shares boosted Egypt.

  • It's been another long trip for the ship known as the QE2 to even open to the public, as Dubai's financial meltdown and years of slow growth nearly sank the project and left the ship languishing at port. After initially planning to gut the vessel, Dubai's government ultimately decided to restore the ship at a cost of over $100 million, down to replicating its 1960 s...

  • ADDIS ABABA, April 16- Ethiopia's new prime minister said on Monday that a foreign exchange shortage will last for years and more cooperation with the private sector is essential to solve it, state television reported. There is an urgent need for more cooperation with the private sector to find a solution, "Abiy was reported as saying, adding that remittances from...

  • Exterior view of the Siemens Forum, part of the Siemens Headquarters, in Munich, Germany.

    The engineering and software giant announced its plans to develop digital innovations in the region with two internet of things facilities in the UAE.

  • *Emaar Properties remains a drag on Dubai. *National Bank of Oman falls after Q1 earnings drop. DUBAI, April 16- Saudi stocks were lifted on Monday by optimism about fund flows and Qatari stocks rose on strong bank earnings, while other bourses in the region were lackluster.

  • Change is the only constant in the airline business: Etihad CEO

    Etihad Airways flights continue to operate as per normal but the situation in the Middle East is being closely assessed, says its CEO Peter Baumgartner.

  • City fan, seven year old Bobby English poses on his father's shoulders as Manchester City supporters gather outside the Etihad Stadium in Manchester, north west England, on April 15, 2018, Manchester City were crowned Premier League champions on Sunday as Manchester United crashed to a shock 1-0 defeat against West Bromwich Albion.

    Manchester City won the Premier League title with 5 games to spare after rivals Manchester United suffered an unexpected loss.

  • *Dana Gas buoyed by dividend hopes. DUBAI, April 15- Most Gulf stock markets rose on Sunday due to firm oil prices and relief that the weekend's military attack on Syria was relatively limited in scope and there was no immediate retaliation. The United States, France and Britain launched 105 missiles after a suspected poison gas attack in Syria a week earlier.

  • WASHINGTON— The United States and the United Arab Emirates are nearing a deal to resolve a years-old spat over alleged government subsidies to Emirati airlines that the major U.S. airlines claim have tilted the competition against them, four individuals familiar with the negotiations told The Associated Press. Under the budding deal, Dubai- based Emirates...

  • *Rally in Dubai's DXB Entertainments fizzles out. *Abu Dhabi, Qatar weighed down by financials. DUBAI, April 12- Most Gulf stock markets closed lower on Thursday as the threat of U.S. military action in Syria kept investors on the sidelines, but the Saudi Arabian market stabilised after a sell-off on the previous day.

  • *Rally in Dubai's DXB Entertainments fizzles out. *Abu Dhabi, Qatar weighed down by financials. DUBAI, April 12- Most Gulf stock markets closed lower on Thursday as the threat of U.S. military action in Syria kept investors on the sidelines, but the Saudi Arabian market stabilized after a sell-off on the previous day.

  • DUBAI, April 12- Most Gulf stock markets dropped in early trade on Thursday as fears of an imminent strike on Syria unsettled bourses globally, but Saudi Arabian stocks stabilised after their sell-off late on the previous day. "The escalation of the geopolitical crisis will remain an overhang as we head towards the weekend," said Nishit Lakhotia, head of research...

  • DUBAI, April 12- Most Gulf stock markets dropped in early trade on Thursday as fears of an imminent strike on Syria unsettled bourses globally, but Saudi Arabian stocks stabilized after their sell-off late on the previous day. "The escalation of the geopolitical crisis will remain an overhang as we head towards the weekend," said Nishit Lakhotia, head of research...