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State oil giant Saudi Aramco and Japan's Sumitomo Chemical are close to signing multi-billion-dollar contracts to expand their petrochemical complex in Saudi Arabia, industry sources said.
June 21, 2012 5:17
The Iranian navy has announced plans to build more warships and increase its presence in international waters at a time of growing tension in the Middle East over Tehran's nuclear programme.
June 21, 2012 5:16
Says central bank regulations to impact banking sector growth; Starts Abu Dhabi Commercial Bank with "neutral" rating
June 21, 2012 5:16
Brent's premium to Dubai slips to 21-month low; Opens arbitrage window for Russian Urals to move to Asia; Ample Mideast crude, weaker Oman may curb Urals flow
June 21, 2012 5:15
Yield on 2022 bond 20 bps tighter this week; CDS compress nearly 18 pct since January; Bond repayments, growth, liquidity lift sentiment
June 21, 2012 5:15
Mubarak's ailment subject to speculation, skepticism; No result yet from vote to decide who replaces him; Islamist, ex-military many both claim vote victory
June 21, 2012 1:22
The new pipeline has a nameplate capacity of around 1.5 million barrels per day (bpd), compared to total UAE exports of around 2.4 million bpd, but sources say it can carry over 2 million bpd.
June 21, 2012 1:17
Fifth new listing of 2012 is imminent; Offer of shares in airline catering unit underway; Global slump, oil price are threats to IPO market; But investors still expect solid corporate earnings; IPOs focused on domestic demand likely to do well
June 21, 2012 11:55
Iran not granting U.N. nuclear inspectors access to Parchin; IAEA suspects high explosives tests carried out there; Western diplomats believe Iran trying to remove any evidence; Iran rejects Parchin accusations as "ridiculous"
June 21, 2012 11:22
Fed offers modest stimulus to weak U.S. economy; Unexpected jump in U.S. crude stockpiles; China factory sector contracts for 8-month running; China’s export order seen at the weakest since early 2009
June 21, 2012 10:55
BNP Paribas, StanC and SocGen lead arranging int'l facilities; Project to finance expansion of Jorf Lasfar coal-fired plant; Asian export credit agencies participate in deal
June 21, 2012 10:35
Crude exports from Iran this month have dropped to between 1.2 million barrels per day (bpd) and 1.3 million bpd, according to a firm that tracks oil shipments and sources at oil companies.
June 20, 2012 5:48
Share price rise well short of 38 pct premium offered; Govt says yet to decide whether to support bid; Says European regulator will consider whether to block; Ryanair holds 30 pct of Aer Lingus, needs 20 pct more; Aer Lingus shares rise 17 pct
June 20, 2012 5:48
Bahrain expects allocation from Gulf fund soon; Budget deficit $83 mln in 2011, lowest in 3 years; Spending at $7.6 bln in 2011, seen at $9.8 bln in 2012; Oil prices well below budget break-even point
June 20, 2012 5:46
Egypt's pound was bid at 6.0507 to the U.S. dollar on Wednesday, its weakest in more than seven years, following a week of political turmoil.
June 20, 2012 5:44
The Emirates Identity Authority is 'keen' on making its ID cards more functional.
May 16, 2013 5:57
The airline said there had been little impact on May 15 from a strike in protest over pay and previous sackings.
May 16, 2013 2:57
Last year, the German carrier posted its first annual profit since 2007.
May 16, 2013 10:54
Controversial views from the clothing company's CEO causes huge backlash.
May 16, 2013 2:43
Michael Fay forged papers and operated as a pilot for Afriqiyah Airways for eight months. . .
May 14, 2013 11:26
