Business News United Arab Emirates

  • LONDON, Jan 22- The port of Fujairah in the United Arab Emirates has decided to ban the use of a type of ship exhaust cleaner, becoming the latest location to impose restrictions on so-called open-loop scrubbers, a port document showed. The International Maritime Organization will prohibit ships from using fuels with sulfur content above 0.5 percent from Jan. 1,...

  • Djiboutian people hold China's national flag before the launching ceremony of a new housing contruction project in Djibouti, on July 4, 2018. The new project is financially supported by China Merchants Group.

    China's rapidly expanding footprint in developing countries around the world is facing mounting scrutiny, even as states across Asia and Africa compete for Chinese investment dollars.

  • *Dubai property prices have slid since mid-2014 peak. DUBAI, Jan 21- Dubai's Emaar Properties and state-owned developer Nakheel have put plans to issue U.S. dollar-denominated bonds on hold, Emaar and sources familiar with the bond issues said. Dubai property prices have fallen since a mid-2014 peak, hurt by weaker oil prices and muted sales, although the slide...

  • DOHA, Jan 21- Qatar will invest $500 million in Lebanese government U.S. dollar bonds to support Lebanon's struggling economy, the Qatari Ministry of Foreign Affairs said on Monday. "Qatar's $500 m purchase of Lebanese bonds is a welcome step, but a short-term fix as it will only kick the can down the road given Lebanon's challenges are structural," said Ehsan Khoman,...

  • *EU moving closer to aggressive U.S. policy to isolate Iran. The French, British, German, Danish, Dutch, and Belgian diplomats in the Iranian foreign ministry room had incensed the officials with a message that Europe could no longer tolerate ballistic missile tests in Iran and assassination plots on European soil, according to four EU diplomats.

  • BEIRUT, Jan 19- Qatar's emir will visit Beirut on Sunday for an Arab economic summit which has been marred by regional rifts and internal Lebanese disputes even before it began. Rifts among Arab states over Syria and its ally Iran, on top of divisions inside Lebanon, have overshadowed the summit, with several leaders pulling out. Saudi Arabia, the United Arab...

  • *EU moving closer to aggressive U.S. policy to isolate Iran. The French, British, German, Danish, Dutch, and Belgian diplomats in the Iranian foreign ministry room had incensed the officials with a message that Europe could no longer tolerate ballistic missile tests in Iran and assassination plots on European soil, according to four EU diplomats.

  • JOHANNESBURG, Jan 18- Former Mozambican finance minister Manuel Chang, arrested in South Africa in a case related to $2 billion of fraudulent loans, has abandoned plans to apply for bail, one of his lawyers said on Friday. Chang, who denies wrongdoing, has been detained in South Africa since Dec. 29 at the request of the United States which wants him extradited.

  • *India has been investigating antitrust violations at Mumbai port. NEW DELHI, Jan 18- India's antitrust watchdog has ordered Denmark's A.P. Moller-Maersk and Dubai's DP World to withdraw certain customer advisories which it said could hamper growth of the country's largest container port in Mumbai, a document seen by Reuters showed.

  • A file photo showing a Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    OPEC slashed production in December, delivering a bullish signal to the market one month before the producer group officially began a fresh round of output cuts.

  • Jan 16- Goldman Sachs Group Inc Chief Executive Officer David Solomon on Wednesday apologised to the Malaysian people for former banker Tim Leissner's role in the sovereign wealth fund 1 MDB scandal, but said the bank had conducted due diligence before every transaction. Goldman is being investigated by Malaysian authorities and the U.S. Department of...

  • Jan 16- Goldman Sachs Group Inc Chief Executive Officer David Solomon on Wednesday apologized to the Malaysian people for former banker Tim Leissner's role in the sovereign wealth fund 1 MDB scandal, but said the bank had conducted due diligence before every transaction. Goldman is being investigated by Malaysian authorities and the U.S. Department of...

  • *Firms urge UK government to avoid no-deal Brexit. LONDON, Jan 16- Business leaders in Britain and beyond warned on Wednesday of catastrophic job losses and chaos at ports if the country does not agree a European Union withdrawal, turning up the heat on politicians to deliver clarity. A Brexit agreement that would have secured tariff-free trade and safeguarded...

  • LONDON, Jan 16- Business leaders in Britain and beyond warned on Wednesday of catastrophic job losses and chaos at ports if the country does not agree a European Union withdrawal, turning up the heat on politicians to deliver clarity. A Brexit agreement that would have secured tariff-free trade and safeguarded just-in-time cross-border supply chains was...

  • The bank, the first United Arab Emirates lender to report quarterly results, made a net profit of 2.39 billion dirhams in the three months ended Dec. 31, 2018, compared with 2.18 billion dirhams in the year-ago period. Emirates NBD, 55.6 percent owned by state fund Investment Corp., and other banks in the United Arab Emirates benefited from a rise in interest rates...

  • *Europe to Middle East exports: https://tmsnrt.rs/2RJDaja. In recent days, however, bookings to carry gasoline and blending components out of Europe to the Middle East and Asia have shown strong signs of a recovery. So far, some 158,000 barrels per day, or roughly 587,000 tonnes of gasoline, have been booked out of Europe to the Middle East in January, according to...

  • *China reports slump in import-export data. *OPEC- led supply cuts provide some support. NEW YORK, Jan 14- Oil prices fell more than 2 percent on Monday, taking a pause after a recent rally, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.

  • *China reports slump in import-export data. *OPEC- led supply cuts provide some support. NEW YORK, Jan 14- Oil prices fell about 1 percent on Monday, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.

  • ADNOC distribution service station pumps with logo in daylight.

    The blocks are the first to be awarded as part of Abu Dhabi's first-ever competitive open block licensing round.

  • ABU DHABI, Jan 14- Saudi Arabia's Energy Minister Khalid al-Falih said that oil demand remains strong and that he sees no impact from U.S.- China trade tensions. "The global economy is strong enough, I'm not too concerned. If a slowdown happens, it will be mild, shallow and short, "he told reporters in Abu Dhabi on Monday.