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Business United Arab Emirates

  • *Blue chips buoyant in Abu Dhabi. *Egypt is worst performer in region. DUBAI, Aug 23- Stock markets in the Middle East were mixed on Wednesday with Saudi Arabia finding support from smaller companies while property developers were strong in Dubai.

  • White House senior advisor Jared Kushner (C) sits alongside U.S. President Donald Trump (L) and Commerce Secretary Wilbur Ross (2nd L) as they prepare to meet with Saudi Arabia's King Salman bin Abdulaziz Al Saud and the Saudi delegation at the Royal Court in Riyadh, Saudi Arabia May 20, 2017.

    Jared Kushner and others are expected to be in the Middle East this week for peace talks regarding Israel and Palestine.

  • *Qatar's Investment Holding bounces after post-listing slide. DUBAI, Aug 22- Saudi Arabia's stock market rose on Tuesday on the back of gains by Al Rajhi Bank and mining firm Ma'aden, while Dubai also outperformed most Gulf bourses although trading was thin. Maather REIT Fund jumped its 10 percent daily limit from its initial public offer price to 11.0 riyals...

  • *Dana Gas soars in Abu Dhabi. *Qalaa Holdings surges in Egypt. DUBAI, Aug 21- Real estate investment trusts were some of the top gainers on Saudi Arabia's stock exchange on Monday, a day before the listing of a new trust, but bourses in the region were generally sluggish, especially Qatar.

  • SINGAPORE/ DUBAI, Aug 21- Iraq has informed its customers that it plans to switch its price benchmark for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts' Oman- Dubai quotes, in a major shift in the way it prices its oil. The proposal by state-oil marketer SOMO would mark a significant change by OPEC's second-largest producer away...

  • DUBAI, United Arab Emirates— The United Arab Emirates has issued a new law that imposes taxes on tobacco products, energy drinks and soft drinks to boost revenue and help offset the impact of lower oil prices. President of the UAE Sheikh Khalifa bin Zayed Al Nahyan approved the tax decree Monday. Abu Dhabi's The National news website reports that tobacco and...

  • DUBAI, United Arab Emirates— Qatar is denying an allegation that it is blocking Saudi planes from transporting Qatari citizens to the annual hajj pilgrimage. Qatar's Civil Aviation Authority issued the denial early on Monday, saying it told Saudi Arabian Airlines that the request must be coordinated with the Ministry of Islamic Affairs.

  • SINGAPORE/ DUBAI, Aug 21- Iraq has informed its customers that it plans to switch its price benchmark for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts' Oman- Dubai quotes, in a major shift in the way it prices its oil. The proposal by state-oil marketer SOMO would mark a significant change by OPEC's second-largest producer away...

  • SINGAPORE/ DUBAI, Aug 21- Iraq has informed its customers that it plans to change its price benchmark for Basra crude in Asia to DME Oman futures from January, the country's latest move to reform its oil sales. The proposed change by state-oil marketer SOMO would mark a major shift by OPEC's second-largest producer away from fellow members Saudi Arabia, Kuwait and...

  • In a U.S. Air Force safety maneuver that hardly felt like one, our car raced onto the military runway just as a U-2 spy plane approached for a landing. The Air Force allowed Reuters to accompany it on a ride. The process is called "catching" a U-2, the Air Force said.

  • *Dubai's Union Properties rebound continues. *Egypt's El Sewedy Electric down on profit-taking. Saudi Indian Company for Cooperative Insurance dropped 3.8 percent, Malath Cooperative Insurance fell 4.5 percent and Arabian Shield Cooperative Insurance slumped 7.6 percent.

  • *Egypt's SODIC down on earnings miss. DUBAI, Aug 17- Most major stock markets in the Gulf rose on Thursday with Saudi Arabia's index gaining strength from positive company-specific news while shares of one of Egypt's property developers dropped as its quarterly earnings missed estimates. Atheeb Telecommunications climbed 2.5 percent to 8.21 riyals in its...

  • *But says cash flow positive with Brent oil at $50 a barrel. *Expects to grow in Kazakhstan, Middle East. DUBAI, Aug 17- Topaz Energy and Marine expects to expand in Kazakhstan and the Middle East as the Dubai- based oil services company projects better growth for the industry next year with oil prices stabilising around $50 a barrel, its chief executive said.

  • CHICAGO— Passengers who were aboard an Emirates plane that crash-landed in August 2016 are suing Chicago- based Boeing for an alleged malfunction of the aircraft's electronics. The Emirates Boeing 777-300 flying from India crash-landed in Dubai, United Arab Emirates. UAE's General Civil Aviation Authority earlier this month determined there were no...

  • *GFH, Union Properties rebound after sharp losses in Dubai. Dana Gas surges in Abu Dhabi after earnings. It had plunged 12.9 percent over the previous two days as it acquired a $1.2 billion infrastructure portfolio in Africa and the Middle East, funding it with a $315 million capital increase that took issued and paid-up capital to $975 million- a big dilution for...

  • "Round tripping to Dubai will come down due to the move," an official with India Bullion and Jewellers Association Ltd said. "Until now, traders only had to pay a lower import tax or no tax at all on gold jewellery and gold coins so long as they re-exported the gold," Commerzbank analyst Carsten Fritsch said in a note. India's gold imports in July nearly doubled from last...

  • *Iraq says it's complying with OPEC- led cuts. DUBAI/ LONDON, Aug 16- Oil exports from Iraq's southern terminals have fallen so far this month, suggesting the country is trying to step up compliance with OPEC output cuts, but it has a long way to go to match its peers in the producer group. If sustained, this would mean exports are down for a second month, giving weight to...

  • DUBAI, Aug 16- OPEC member Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources. AISSOT is owned by state firm Iraqi Oil Tankers Co and Arab Maritime Petroleum Transport Co, a pan-Arab company in which Arab oil producers such as Saudi...

  • BERLIN— Germany on Wednesday rejected a claim by budget airline Ryanair that a government loan for rival Air Berlin as part of its bankruptcy proceedings amounted to a "conspiracy" to keep the airline afloat until a new owner is found. The Irish airline lodged a complaint with European Union competition authorities after Air Berlin filed for bankruptcy...

  • Gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf.

    Iran could abandon its nuclear deal "within hours" if the U.S. imposes any more new sanctions, Iranian President Rouhani said on Tuesday.