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Business United Arab Emirates

  • *Qatar had tumbled on Monday after UAE alleged aviation incidents. *Oman's Al Izz Islamic Bank surges after net loss narrows. DUBAI, Jan 16- Qatar's stock market rebounded on Tuesday, erasing a sharp fall suffered on the previous day, while other major Gulf bourses were firm on the back of strong oil prices after Brent crude rose above $70 a barrel for the first time...

  • LONDON, Jan 16- Saudi Aramco has not invited UBS and Bank of America Merrill Lynch to pitch for senior advisory roles in its stock market listing because they have not lent money to the state oil giant in recent years, according to five finance sources. The two investment banks, among the world's biggest, have not been asked to attend meetings in Saudi Arabia in the...

  • DUBAI, United Arab Emirates— Bahrain released radar tracks on Tuesday it said showed Qatari fighter jets passing by Emirati commercial airliners bound for the island nation, encounters which set off a new dispute pitting Qatar against the Gulf nations that have been boycotting it since last summer. The two alleged fly-bys on Monday morning could further...

  • *Morocco's current account gap set to shrink, reserves high. CASABLANCA/ DUBAI, Jan 15- Morocco's dirham barely moved against major currencies and there was little speculative trade as the central bank introduced a more flexible exchange rate on Monday, part of reforms recommended by the International Monetary Fund. The new system, designed to keep exports...

  • PARIS, Jan 15- French utility Engie hopes to boost earnings growth and partnerships in its core businesses of renewable energy, grids and energy services this year, after an estimated five percent gain in core earnings in 2017, its chief executive said. Isabelle Kocher said 2018 would be "decisive in terms of accelerating and deepening partnerships," pointing to...

  • *Qatar denies UAE allegation that it intercepted plane. *Dubai's Emaar Properties falls but Deyaar up in heavy trade. DUBAI, Jan 15- Saudi Arabian stocks continued rising on Monday on signs that Riyadh's crackdown on corruption is nearing completion, while Qatar's bourse fell steeply after the United Arab Emirates said Qatari fighter jets intercepted an...

  • *Morocco's current account gap set to shrink, reserves sufficient. CASABLANCA/ DUBAI, Jan 15- Morocco's dirham barely moved against major currencies and there was little speculative trade as the central bank introduced a more flexible exchange rate on Monday, part of free-market reforms recommended by the International Monetary Fund. The new system, designed...

  • *GRAPHIC: Asia refining margins vs. LAUNCESTON, Australia, Jan 15- The standout feature of China's crude oil and product trade data for December was the surge in exports of refined fuels to a record, but it already appears that this dynamic may not be sustainable. This meant that Chinese refiners were able to take advantage of strong prices for products in December,...

  • BERLIN, Jan 15- German used-car dealing platform Auto1 said a 460 million euro financial infusion from Japan's Softbank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans. That money is of the order that Berlin- based Auto1 might have raised with a stock market flotation, co-founder Hakan Koc told Reuters on...

  • DUBAI, United Arab Emirates— The United Arab Emirates claimed Qatari fighter jets intercepted two of its commercial airliners in international airspace on the way to Bahrain, allegations denied by Qatar. The claims Monday could further escalate tensions between Qatar and the four Arab nations that have been boycotting it for months, among them the UAE, home to...

  • PARIS— Airbus said Monday it will stop making the costly A380 superjumbo if it can't strike a long-term deal with the airline Emirates for a steady supply of the planes. He said the Dubai- based airline is "the only one who has the ability" to commit to a minimum of six planes a year for a minimum of eight to 10 years, which Airbus needs to make the program viable.

  • BEIJING— The fire from a sunken Iranian tanker ship in the East China Sea has burned out, a Chinese transport ministry spokesman said Monday, although concerns remain about possible major pollution to the sea bed and surrounding waters. The spokesman, who identified himself only by his surname, Zhao, said the fire ceased around noon. The cause of the Jan. 6 collision...

  • *GRAPHIC: Asia refining margins vs. LAUNCESTON, Australia, Jan 15- The standout feature of China's crude oil and product trade data for December was the surge in exports of refined fuels to a record, but it already appears that this dynamic may not be sustainable. This meant that Chinese refiners were able to take advantage of strong prices for products in December,...

  • *Kingdom Holding jumps on news Prince Alwaleed negotiating. *Qatar National Bank climbs before earnings announcement. DUBAI, Jan 14- Signs of progress towards settling cases in Saudi Arabia's crackdown on corruption boosted its stock market on Sunday, while Qatar's bourse rose for a seventh straight day as investors bought ahead of annual dividend...

  • ABU DHABI, Jan 13- Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member's oil output capacity is nearing 5 million barrels per day, but the country will remain in full compliance with its output target under a global pact to cut supplies. Luaibi said the supply cut agreement between OPEC and non- OPEC producers should continue despite a rise in...

  • ABU DHABI, Jan 13- Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the global oil production cut agreement between OPEC and non- OPEC producers should continue, despite a sharp rise in oil prices as the oil market still needs more time to stabilise.

  • ABU DHABI, Jan 13- Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member's oil output capacity is near reaching 5 million barrels per day, but the country will remain in full compliance with its output target under a global pact to cut supplies. Luaibi, who was speaking at an industry conference in Abu Dhabi, also said that his ministry plans to...

  • ABU DHABI, Jan 12- OPEC need not respond to a rise in oil prices by rushing to change a global supply-cutting pact, United Arab Emirates Energy Minister Suhail al-Mazroui said on Friday. This year's rapid rise in oil prices, which hit $70 this week, is backed by strong demand growth and a fall in oversupply on the back of the OPEC and non- OPEC pact, not only by political...

  • *SABB, Alawwal Bank rise after sources say merger still on. DUBAI, Jan 11- Most major Gulf stock markets rose on Thursday after oil prices hit new 2-1/ 2 year highs, with Qatar's bourse gaining for a sixth straight day as investors positioned themselves for annual dividends. Doha Bank surged 3.7 percent in its heaviest trade since the end of November while Qatar...

  • RIYADH/ DUBAI, Jan 11- Saudi Arabia is taking managerial control of Saudi Binladin Group and discussing a possible transfer of some of the giant construction group's assets to the state while its chairman and other family members are in detention, sources told Reuters. Binladin, which had over 100,000 employees at its height, is the biggest builder in the country...