×

Business United Arab Emirates

  • US Secretary of State Rex Tillerson speaks at a press conference following a meeting on September 14, 2017 in London, England.

    China opposes North Korea's nuclear weapons development, but wants the U.S. to restart long-stalled negotiations with North Korea.

  • *Sukuk holders propose settlement to Dana Gas. *Orascom Construction up after JV signs $320 mln deal. DUBAI, Sept 14- Telecommunications shares weighed on the Saudi Arabian stock market on Thursday after authorities moved to remove the ban on voice and video calls over the Internet, while Qatar continued to fall as foreign buyers intensified their selling.

  • CAIRO, Sept 13- Poppy seeds found in two cargoes of imported wheat halted by Egyptian authorities are "not very dangerous", Agriculture Minister Abdel Moneim Al-Banna told Reuters on Wednesday, in comments that could avert a trade row. Al-Banna said the cargoes from France and Romania would be sieved before a decision was taken on whether to allow them into the...

  • *Dana Gas buoyant again in Abu Dhabi. *Egypt's El Sewedy Electric up on new contracts, dividend. DUBAI, Sept 13- Shares of Saudi Arabia's top food producers, Savola and Almarai, fell on Wednesday after Savola said it was selling a small stake in the dairy maker, while Qatar's bourse closed at a 52- month low as foreign funds continued to exit.

  • *Company says to focus on Iraq's gas production. LONDON, Sept 13- Royal Dutch Shell is set to end a century of oil production in Iraq by withdrawing from two of the Arab state's flagship fields to focus on more profitable gas development. Shell's retreat highlights the challenges foreign operators face with low-margin oil contracts in Iraq, an OPEC member that...

  • DUBAI, United Arab Emirates— Rating agency Moody's said in a report released Wednesday that the three-month-old diplomatic dispute between Qatar and other Arab states has created uncertainty across the Gulf region and could negatively affect the credit outlook of all the countries involved. The report by Moody's Investors Service said persistent...

  • *Traders mopping up LNG glut, finding new emerging market buyers. *Some arranging new, cheaper floating import terminals. LONDON, Sept 12- Swiss trading houses are muscling in on the global market for liquefied natural gas, until now the preserve of energy giants, and expect to grab a $10 billion share of the rapidly growing business this year.

  • *Kingdom Holding rises on news of deal. DUBAI, Sept 12- Qatar's stock market slid to a 52- month closing low on Tuesday as foreign investors sold, while Banque Saudi Fransi fell in Riyadh after France's Credit Agricole agreed to sell a 16.2 percent stake in it to local investor Kingdom Holding. Qatar's economy has been hit by an embargo imposed in June by...

  • *Traders mopping up LNG glut, finding new emerging market buyers. *Some arranging new, cheaper floating import terminals. LONDON, Sept 12- Swiss trading houses are muscling in on the global market for liquefied natural gas, until now the preserve of energy giants, and expect to grab a $10 billion share of the rapidly growing business this year.

  • NAIROBI, Sept 12- When Turkish Airlines opened a direct daily route to a war-ravaged African failed state plagued by Islamist militants, industry insiders were skeptical. "Somalia is one of our most profitable destinations worldwide," Mustafa Ozkahraman, Kenya country manager for Turkish Airlines, told Reuters in an interview. The Istanbul- based carrier is...

  • DUBAI, United Arab Emirates— From suspected Iranian cyberattacks on Saudi Arabia to leaked emails causing consternation among nominally allied Arab nations, state-sponsored hacks have become an increasing worry among countries across the Persian Gulf. Iran was the target of much of those fears and a point of discussion at an event Tuesday that Cole's...

  • DUBAI, United Arab Emirates— Tens of thousands of luxury projects were on display at a premier global property show in Dubai on Monday, but missing from the glittering mock-ups and pipeline of home dreams being rolled out were more affordable housing projects for the Middle East's large and burgeoning population of young and aspiring home owners.

  • *Saudi British Bank surges after Morgan Stanley upgrade. DUBAI, Sept 11- Qatar's stock market sank to a 19- month low on Monday while other regional bourses were mixed in mostly quiet trade, although Saudi British Bank surged in Riyadh. The market has been depressed by the diplomatic dispute between Qatar and its neighbours that erupted in early June, and after a...

  • *Dana Gas rises again in active trade. *Egypt's Qalaa Holding at 16- month peak. DUBAI, Sept 10- Stock markets in the Middle East were mixed in narrow ranges on Sunday, with banks and petrochemicals supporting Saudi Arabia while Qatar edged down to a fresh 18- month closing low.

  • *Egypt is world's largest wheat buyer. DUBAI/ CAIRO, Sept 10- Egypt is considering rejecting 59,000 tonnes of French wheat purchased by state grain buyer GASC due to the presence of poppy seeds, the second cargo to come under such scrutiny and raising fresh uncertainty over the country's import policy. Egypt's agricultural ministry said on Sunday its quarantine...

  • Kuwait will sell crude to its Asian customers at a discount of $1.05 a barrel to the average of the Oman/ Dubai benchmark prices in October, compared with a discount of $1.40 in September.

  • *Listings part of reforms driven led by Abu Dhabi's Crown Prince. DUBAI, Sept 10- Abu Dhabi National Oil Co could list more than 10 percent of its fuel retail business by early 2018 and one or two more businesses later as part of a major shake-up, sources familiar with the matter said. The listing for ADNOC Distribution, which manages petrol stations and convenience...

  • DUBAI, Sept 10- Bahrain is tightening its rules for Islamic banks by requiring all of them to undergo independent, external audits to certify they are following Muslim laws known as sharia. The move, announced by the central bank on Sunday, could make Bahrain among the strictest jurisdictions for Islamic banking and help Manama maintain prominence in the...

  • DUBAI/ ABU DHABI Sept 10- State-backed Abu Dhabi Investment Council is weighing the sale of its nearly 24 percent stake in Abu Dhabi National Insurance Co, with Allianz among groups showing initial interest in buying it, sources familiar with the matter said. The council is an investment arm of the Abu Dhabi government, with holdings in several listed companies...

  • *200 billion riyals allocated to support private sector. DUBAI, Sept 9- Saudi Arabia's government assured investors on Saturday that its Vision 2030 economic reform program, including the sale of a stake in national oil giant Saudi Aramco, was on track despite plans to adjust part of it. News this week that Riyadh was revising a section of Vision 2030 known as the...