Business News United Arab Emirates

  • NEW YORK, July 19- A former Credit Suisse Group AG banker on Friday pleaded guilty to U.S. charges that he took part in a fraud scheme that involved $2 billion in loans to state-owned companies in Mozambique and helped lead to the country's debt default. Andrew Pearse, who head Credit Suisse's Global Financing Group at the time, entered his plea to one count of wire...

  • *Iran's Guards say they capture Stena Impero tanker. DUBAI/ WASHINGTON, July 19- Iran said it had seized a British oil tanker in the Strait of Hormuz on Friday but denied Washington's assertion that the U.S. Navy had downed an Iranian drone nearby this week, as tensions in the Gulf region grew again. Iran's state news agency IRNA quoted a military source as saying the...

  • *Iran's Guards say they capture Stena Impero tanker. DUBAI/ WASHINGTON, July 19- Iran said it had seized a British oil tanker in the Strait of Hormuz on Friday but denied Washington's assertion that the U.S. Navy had downed an Iranian drone nearby this week, as tensions in the Gulf region grew again. The Mesdar had turned sharply north toward Iran's coast on Friday...

  • *Second tanker in Gulf turns sharply toward Iran. DUBAI/ WASHINGTON, July 19- Iran's Revolutionary Guards said they seized a British oil tanker in the Strait of Hormuz on Friday, while Tehran and Washington disagreed about a U.S. assertion that its Navy had downed an Iranian drone nearby, further increasing tensions in the Gulf region. A second oil tanker, the...

  • ULAANBAATAR/ LONDON, July 19- Mongolia will vote in August to rip up parts of an investment agreement with Rio Tinto for the Oyu Tolgoi copper mine, which may force the miner to make concessions in a project beset by delays and political squabbles. Ending the 2015 " Dubai agreement" that launched Oyu Tolgoi's underground expansion would likely reduce Rio's future...

  • President Donald Trump planned to meet on Thursday with the chief executives of major American airlines and Qatar Airways to discuss their accusations that subsidies by Qatar and United Arab Emirates are costing jobs in the United States. The 3:30 p.m. EDT meeting between Trump and the CEOs of American Airlines, United Airlines, JetBlue Airways Corp, FedEx...

  • agreement; subsidies by Qatar, UAE@. President Donald Trump planned to meet on Thursday with the chief executives of major American airlines to discuss their accusations that subsidies by Qatar and United Arab Emirates are costing jobs in the United States. The American airlines argue that Qatar and the UAE violate their Open Skies agreement with the United...

  • LONDON/ DUBAI, July 18- Boutique investment bank Evercore Partners has lost the chance to retain a prime position as an independent advisor for Saudi Aramco's potential $100 billion share sale, as the oil giant revives its postponed listing, three sources said. The Saudi energy minister Khalid al-Falih, who also chairs Aramco, said earlier in July the...

  • DUBAI, July 18- Boasting the priciest designer stores, no expense was spared when Dubai built the swanky Gate Avenue mall, positioned to serve affluent bankers who always had money to burn. "Consumers are much more cost-conscious," said Alain Bejjani, CEO of Majid Al Futtaim, which operates six malls in Dubai. Patrick Chalhoub, CEO of Dubai's Chalhoub Group which has...

  • By Julia Payne and Emilio Parodi. LONDON/ MILAN, July 18- Eni has filed a fraud complaint against its former head of oil trading over a suspect Iraqi crude oil shipment, amid concerns inside the Italian oil major that the failed delivery may have included Iranian crude targeted by U.S. sanctions. In the filing to the Milan prosecutor's office Eni accused its former...

  • U.S. President Donald Trump (2nd L) and Saudi Arabia's King Salman bin Abdulaziz Al Saud (C) at the the Arabic Islamic American Summit in Riyadh, Saudi Arabia on May 21, 2017.

    The U.S. House of Representatives passed three resolutions on Wednesday, which would block the sale of precision-guided munitions and related equipment to Saudi Arabia and the United Arab Emirates. President Donald Trump has promised a veto.

  • Manny Pacquiao poses for a portrait during a training session at the Elorde boxing Gym on May 19, 2017 in Manila, Philippines.

    "Manny has not signed any contract. As far as I know it has not even been discussed," Pacquiao's publicist Fred Sternberg told the BBC, on claims that Pacquiao will take on Amir Khan in Saudi Arabia later this year.

  • SEOUL/ SINGAPORE, July 16- Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulphur ship fuel starting next year, exporting some cargoes of very low-sulphur fuel oil this month. The refiners in Taiwan and South Korea have redirected low-sulphur feedstocks, that would normally undergo further refining into...

  • *Pompeo: Iran signals ready to negotiate ballistic missiles. *Iran breaching nuclear limits under U.S. sanctions pressure. President Donald Trump said on Tuesday "a lot of progress" had been made toward ending a volatile standoff with Iran, with his top diplomat saying Tehran had signaled willingness to negotiate over its disputed ballistic missile program.

  • *Pompeo: Iran signals ready to negotiate ballistic missiles. *Iran breaching nuclear limits under US sanctions pressure. President Donald Trump said on Tuesday "a lot of progress" had been made towards ending a volatile stand-off with Iran, with his top diplomat saying Tehran had signalled willingness to negotiate over its disputed ballistic missile...

  • *Iran breaching nuclear limits under US sanctions pressure. *Khamenei: Iran to continue cranking up uranium enrichment. *Cites "insolent" EU's failure to protect trade with Iran.

  • *Iran breaching nuclear deal under U.S. sanctions pressure. *Khamenei: Iran to continue cranking up uranium enrichment. *Cites "insolent" EU's failure to protect trade with Iran.

  • DUBAI, July 16- Emirates is to start flights to Mexico with a stopover in Spain, a so-called fifth freedom flight that could anger critics and rival airlines in the United States and Europe. The Dubai state-owned carrier said on Tuesday it would start daily flights to Mexico City International Airport via Barcelona on Dec. 9, the airline's first service to Mexico.

  • The plan is not yet finalised and still has to be approved by UAE authorities, such as the Abu Dhabi Supreme Petroleum Council, the sources said. This all fits into a drive by Sheikh Mohammed bin Zayed to turn the UAE into a regional leader, "one of the sources said. The UAE, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, behind...

  • SEOUL/ SINGAPORE, July 16- Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulphur ship fuel starting next year, exporting some cargoes of very low-sulphur fuel oil this month. The refiners in Taiwan and South Korea have redirected low-sulphur feedstocks, that would normally undergo further refining into...