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Business United Arab Emirates

  • *Opposition leader Imran Khan hails victory for Pakistan. ISLAMABAD, July 28- Pakistan's Supreme Court disqualified Prime Minister Nawaz Sharif from office on Friday over undeclared assets, plunging the nuclear-armed South Asian nation into political turmoil after a period of relative stability. Pakistan was left with no government leader after Friday's...

  • TOKYO, July 28- Abu Dhabi National Oil Co expects to make a final decision on whether to renew Japanese firms' oil concessions in Abu Dhabi oilfields before year-end or very early next year, its top executive told the Nikkei business daily. The majority of Japanese stakes in Abu Dhabi oilfields including Inpex Corp's 12 percent hold in the massive offshore ADMA...

  • TOKYO, July 28- Abu Dhabi National Oil Co expects to make a final decision on whether to renew Japanese firms' oil concessions in Abu Dhabi oilfields before year-end or very early next year, its top executive told the Nikkei business daily. The majority of Japanese stakes in Abu Dhabi oilfields including Inpex Corp's 12 percent hold in the massive offshore ADMA...

  • The world's largest online retailer posted second-quarter revenue of $38 billion, up 25 percent from a year earlier. Yet Seattle- based Amazon posted a 77 percent drop in quarterly income, and even said it could lose up to $400 million in operating profit during the current quarter. The company had earned 40 cents per share instead of $1.42 as analysts had...

  • DUBAI/ LONDON, July 27- Saudi Aramco's advisers have recommended London for the historic listing of the oil company, with U.S. disclosure rules a concern for Saudi authorities, sources familiar with the matter told Reuters. The advisers' views on the relative merits of London and New York for the listing are being considered by Aramco and a final proposal could be...

  • DUBAI/ LONDON, July 27- Saudi Aramco's advisers have recommended London for the historic listing of the oil company, with U.S. disclosure rules a concern for Saudi authorities, sources familiar with the matter told Reuters. The advisers' views on the relative merits of London and New York for the listing are being considered by Aramco and a final proposal could be...

  • *Qatar First Bank drops on Q2 loss. DUBAI, July 27- A slide in shares of Egypt's Juhayna Food Industries after it reported second-quarter earnings pulled down Egypt's stock market on Thursday, while Gulf bourses were mixed. Egypt's blue-chip index dropped 1.4 percent as Juhayna sank 4.2 percent after saying consolidated net profit attributable to...

  • BTMU, FIRST ABU DHABI BANK, HSBC AND JPMORGAN CHOSEN TO HAVE LEAD ROLE IN ADNOC'S LOAN- SOURCES.

  • *Net loss $1.87 bln vs $103 mln net profit in 2015. ABU DHABI, July 27- Etihad Airways, one of the Middle East's three largest carriers, plunged to a $1.9 billion loss last year, hit by impairments on aircraft and investments in troubled European airlines. Middle Eastern airlines have seen growth slow over the past two years as regional travel budgets tightened due to...

  • *Sipchem, United Electronics surge on earnings beats. *Qatar's Barwa real estate down after earnings. DUBAI, July 26- Major Middle Eastern stocks markets were mixed in narrow ranges on Wednesday as caution over companies' upcoming second-quarter earnings announcements outweighed the positive effect of a rebound in oil prices.

  • *Qatar could act independently of U.S. policy despite FX peg. DUBAI, July 26- Qatar could adopt a monetary policy more independent of the United States if that proves necessary to combat economic sanctions by its Gulf Arab neighbours, a Qatari central banker said. But last month's decision by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt to cut...

  • SINGAPORE, July 26- The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Qatari condensate supplies after a diplomatic row. The UAE halted condensate imports from Qatar after it, along with Saudi Arabia, Egypt and Bahrain, severed...

  • *Islamic insurers dominate Dubai trading volume. *Qatar's Nakilat falls on earnings. DUBAI, July 25- Poor corporate earnings, due in part to Saudi Arabia's austerity policies and sluggish economic growth, weighed on the Saudi stock market on Tuesday as most regional bourses were virtually flat.

  • *Qatar outperforms region, nears pre-crisis level. *Foreign investors remain net buyers in Qatar. DUBAI, July 24- Banks pushed Qatar's stock market higher on Monday while Saudi Arabia's market edged down as telecommunications firm Mobily plunged in the wake of a bigger-than-expected quarterly loss.

  • DUBAI, July 24- Abu Dhabi oil giant Adnoc is in talks to obtain a syndicated loan worth up to $5 billion, the latest sign that the region's giant oil companies are increasingly turning to the debt markets to fund expansion. A third said it was expected to be in a range of $4 billion to $5 billion. The loan facility, which would have various maturities of up to five years, is...

  • *Abu Dhabi Commercial Bank falls after quarterly earnings. *Saudi's Alinma Bank, Arabian Shield rise after earnings. DUBAI, July 23- Islamic finance firm Amlak helped to boost Dubai's stock market on Sunday while Qatar pulled back after events at the weekend failed to point to progress in resolving the diplomatic crisis between Doha and neighbouring states.

  • The skyline of Doha, Qatar.

    It's time for negotiation and dialogue, not confrontation, says Yousef Ali Al-Khater, Qatari ambassador to the U.K.

  • Time for 'negotiation and dialogue, not confrontation': Qatar ambassador

    It's time for "negotiation and dialogue, not confrontation", Qatar's ambassador to the UK Yousef Ali Al-Khater said, discussing the Gulf's demands of Qatar.

  • Qatar has seen US proof that UAE orchestrated hack, ambassador says

    Qatar ambassador to the UK, Yousef Ali Al-Khater, said the country has seen evidence from US intelligence that the UAE orchestrated a hack on the Qatar's state media.

  • Bahraini Foreign Minister Khalid bin Ahmed al-Khalifa (L), Egyptian Foreign Minister Sameh Shoukry (C-L), Saudi Foreign Minister Adel al-Jubeir (C-R), and UAE Minister of Foreign Affairs and International Cooperation Abdullah bin Zayed Al-Nahyan (R) meet in the Egyptian capital Cairo on July 5, 2017, to discuss the Gulf diplomatic crisis with Qatar, as Doha called for dialogue to resolve the dispute.

    The UAE planted a false story on a Qatari site that was used as a pretext for the current diplomatic crisis, The Washington Post reported.