Thu, 25 Apr 2019, 12:41 AM
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Topic: DUBAI

The Star:
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MANHATTAN: Two former executives of The Abraaj Group, which collapsed last year in the world’s biggest private-equity insolvency, were arrested on U.S. charges of defrauding investors, with one defendant nabbed after arriving in New York with his wife and son to look at colleges.
The Star:
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DUBAI: Saudi Arabia’s Alinma Bank would be open to a merger if a deal adds value for shareholders, its chief executive officer said.
Malay Mail:
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DUBAI, April 23 — Tehran is prepared for a US decision to end waivers granted to buyers of Iranian crude, an Iranian oil ministry source said yesterday, as the Revolutionary Guards repeated their th...
The Star:
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DUBAI: Dubai is looking to retail and tourism to break free of its weakest economic expansion in almost a decade.
The Star:
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SINGAPORE: Key Asian gasoil refining profit-margins fell to their lowest levels this year as crude oil prices surged and demand for the industrial fuel remained sluggish amid plentiful supply.
The Star:
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DUBAI: Saudi Aramco said on Sunday it would acquire Royal Dutch Shell's 50 percent stake in Saudi refining joint venture SASREF for US$631 million.
The Star:
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DUBAI: The slump in Aramco bonds since its unprecedented debt sale this month makes one thing clear: you can’t take the Saudi out of Saudi Aramco.
The Star:
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DUBAI: State oil giant Saudi Aramco, the world’s biggest oil producer, is in talks to buy a minority stake in the refining and petrochemicals businesses of India’s Reliance Industries Ltd, sources familiar with the matter said.
The Star:
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DUBAI: Etihad Airways Group chief financial officer Mark Powers has stepped down after roughly a year in the job as the Abu Dhabi state-owned carrier overhauls its business after years of heavy losses.
Free Malaysia Today:
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DUBAI: It was a one-two punch that has turned the ringgit into Asia’s worst performer this month.
The Star:
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DUBAI/NEW DELHI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a minority stake in the refining and petrochemicals businesses of India's Reliance Industries Ltd, sources familiar with the matter said on Wednesday.
The Straits Times:
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DUBAI (BLOOMBERG) - It was a one-two punch that's turned the Malaysian ringgit into Asia's worst performer this month.
Malay Mail:
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DUBAI, April 15 — Dubai’s Expo 2020 global trade fair is expected to give the United Arab Emirates an economic boost of over US$33 billion (RM135.8 billion), consultants Ernst and Young said in a ...
Malay Mail:
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DUBAI, April 15 — Qatar Petroleum has invited three groups to bid for engineering procurement and construction packages on liquefied natural gas (LNG) mega-trains as it expands production at its Nor...
The Star:
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Dubai: Available airline seats at Dubai International will decline by 29% as the world’s busiest airport upgrades a runway.
Malay Mail:
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NEW YORK, April 12 — The chief executive and a managing partner of the collapsed Dubai private equity firm Abraaj Capital Ltd were arrested on US charges that they defrauded their investors, includi...
Malay Mail:
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DUBAI, April 12 — Opec could raise oil output from July if Venezuelan and Iranian supply drops further and prices keep rallying, because extending production cuts with Russia and other allies could ...
Malaysiakini:
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Sudanese President Omar al-Bashir (above) was forced to step down by the military on Thursday after three decades of autocratic power, and moves were under way to form a transitional council to run th...
The Star:
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SEREMBAN: Although the government has confirmed that Datin Seri Rosmah Mansor did not purchase a 22-carat pink diamond, this does not cancel out the fact that the jewel was nonetheless eventually bought with funds allegedly siphoned from 1Malaysia Development Bhd (1MDB), says Rafizi Ramli.
The Star:
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LONDON: Network International shares surged in London trading after the payments processor raised £1.1bil (US$1.4bil) in an initial public offering that’s the biggest listing in Europe so far this year.
The Edge Markets:
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KUALA LUMPUR (April 10): Human Plus, a South Korean startup has unveiled its human-centric payment solution with efficient cryptocurrency utilisation ecosystem, HUPAYX.
The Star:
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WASHINGTON: Standard Chartered Plc has agreed to pay US$1.1 billion to U.S. and British authorities for conducting illegal financial transactions that violated sanctions against Iran and other countries, government authorities announced on Tuesday.
The Star:
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DUBAI: Saudi Aramco, the world’s largest oil company, has received $75 billion in orders for its debut bond sale, kickstarting an offering with yields likely to fall in line or below Saudi Arabia’s sovereign debt.
EdgeProp.my:
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KUALA LUMPUR (April 8): Eversendai Corp Bhd has clinched three new projects with a combined value of RM196 million in Qatar and Abu Dhabi, the United Arab Emirates.
Malay Mail:
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DUBAI, April 8 — US-based investment firm Carlyle Group will buy a stake worth several billion dollars in Spanish oil giant Cepsa from Abu Dhabi sovereign wealth fund Mubadala, the companies said to...
The Edge Markets:
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KUALA LUMPUR (April 8): Eversendai Corp Bhd has clinched three new projects with a combined value of RM196 million in Qatar and Abu Dhabi, the United Arab Emirates.
The Edge Markets:
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KUALA LUMPUR (April 6): IHH Healthcare Bhd recently completed its protracted acquisition of a 31.17% stake in Fortis Healthcare Ltd, thus expanding its footprint in India.
Malay Mail:
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DUBAI, April 4 — A London-based international court has ordered Djibouti to pay US$385 million in compensation to UAE global ports operator DP World over a breach of contract, the Dubai government s...
CarSifu:
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STUTTGART: In Scandinavia, just a few kilometres away from the Arctic Circle, the Porsche Taycan is proving its potential in terms of driving dynamics on snow and ice.
The Star:
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DUBAI: Three years ago, Mark Mobius saw his luxury apartments in Dubai go up in flames. While the suites have by now been restored to their old splendor, the investor has something else to worry about: the frenzy of construction that’s adding to the existing glut in real estate.
The Star:
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PETER Tabichi, a Mathematics and Physics teacher from a remote village in Kenya, won the prestigious Global Teacher Prize this year, beating 10,000 others from 179 countries.
Malay Mail:
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DUBAI, April 1 — Oil giant Saudi Aramco revealed today it made the world’s biggest corporate profit last year, opening its secretive accounts for the first time as it prepares to raise funds from ...
The Star:
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DUBAI: Saudi Aramco obtained the fifth-highest investment grade rating at both Moody’s Investors Service and Fitch Ratings as the world’s largest oil producer prepares for its debut dollar bond offering.
Malaysiakini:
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ADUN SPEAKS | A maths and physics teacher from a remote village in Kenya won the prestigious Global Teacher Prize this year.
Malay Mail:
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APRIL 1 — A maths and physics teacher from a remote village in Kenya won the prestigious Global Teacher Prize this year.
Digital News Asia:
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“EXPLOSIVE industrial growth means that China needs to become more efficient in generating and consuming power, all while reducing pollution,” said the opening video at the Honeywell Technology Ex...
The Star:
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DUBAI: Saudi Arabia's economy grew in the fourth quarter of last year at its fastest rate since early 2016 due to an expansion in the oil sector, while non-oil growth was sluggish, statistics agency data showed on Sunday.
The Star:
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Global ride-hailing giant Uber will acquire its Middle East rival Careem for US$3.1bil (RM12.64bil) in the region’s largest technology industry transaction, the two companies announced on March 26.
The Star:
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Global ride-hailing firm Uber Technologies Inc will spend US$3.1bil (RM12.64bil) to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering.
Malay Mail:
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DUBAI, March 25 — Uber Technologies Inc is set to offer over US$3 billion (RM12.2 billion) to buy Dubai-based rival Careem Networks FZ, two sources familiar with the deal told Reuters, in a deal tha...
Malaysiakini:
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India's Enforcement Directorate (ED) has accused Zakir Naik of accumulating assets worth RM113 million by diverting funds and donations received from Islamic countries for the welfare of Muslims.
The Star:
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Uber Technologies Inc is set to announce a US$3.1bil (RM12.61bil) cash-and-share deal to acquire its Dubai-based rival Careem Networks FZ as early as this week, according to people with knowledge of the matter.
The Star:
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PETALING JAYA: Controversial Muslim preacher Zakir Naik has allegedly amassed assets worth Rs193 crore (RM113mil) by diverting funds and donations received from Islamic countries that were meant for the “welfare of Muslims”, says a news report.
Malay Mail:
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SAN FRANCISCO, March 25 — Uber Technologies Inc is set to offer over US$3 billion (RM12.2 billion) to buy Dubai-based rival Careem Networks FZ, two sources familiar with the deal told Reuters.
StarProperty.my:
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Luxury boutique hotel tapping into the city’s cultural diversity to pamper its clients Relaxing deck with city skyline views.
Malaysiakini:
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The Kelantan state government is introducing several incentives to attract the participation of the private sector and foreign investors, including expediting the process of setting up factories and i...
The Star:
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LONDON/DUBAI: Saudi Arabia's inclusion in major emerging markets stock indices from Monday is likely to suck in around $20 billion in passive inflows, but unease after Jamal Khashoggi's murder and sluggish reforms could lead some active foreign investors to steer clear.
The Star:
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DUBAI: Abu Dhabi state investor Mubadala has suspended new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the US bank and others to recover losses suffered through its dealings with 1Malaysia Development Bhd (1MDB).
Malay Mail:
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SINGAPORE, March 15 — After spending close to two decades here dressing up brides-to-be, Fatimah Mohsin, creative director of Fatimah Mohsin The Wedding Gallery, is getting ready to take the plunge ...
The Star:
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DUBAI/ABU DHABI: Abu Dhabi state investor Mubadala has suspended new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB.
Free Malaysia Today:
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ABU DHABI: Abu Dhabi state investor Mubadala has suspended any new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the US bank and others to recover losse...
Malay Mail:
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DUBAI, March 14 — Abu Dhabi state investor Mubadala has suspended any new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the US bank and others to reco...
Malay Mail:
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ABU DHABI (United Arab Emirates), March 14 — Abu Dhabi’s Etihad Airways posted a loss in 2018 for the third year running, it said today, blaming investment losses and challenging market conditions...
Malay Mail:
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DUBAI, March 14 — Dubai port and logistics giant DP World said today its net profit for 2018 rose over five per cent on increased trade and higher returns from new acquisitions.
The Edge Markets:
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PETALING JAYA (March 13): Kuala Lumpur (pictured) and Johor Bahru have retained their rankings for quality of life in Asia at 10th and 12th, respectively, said a survey.
EdgeProp.my:
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PETALING JAYA (March 13): Kuala Lumpur (pictured) and Johor Bahru have retained their rankings for quality of life in Asia at 10th and 12th, respectively, said a survey.
Free Malaysia Today:
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KOTA KINABALU: One of Sabah’s biggest forest management unit companies is suing the state government for RM91.6 million over the ban on log exports by the Warisan-led administration last year.
Malay Mail:
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DUBAI, March 11 — Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output well below 10 million bpd, a Saudi official said today, ...
The Star:
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DUBAI: Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output "well below" 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support oil prices.
Malay Mail:
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LAHAD DATU, March 6 — A total 17 National Quran Tahfiz Associations Coalition (National PINTA) delegation members who were stranded for almost a week in Pakistan were expected to arrive home tomorro...
Malay Mail:
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DUBAI, March 6 — Rating agency Moody's downgraded Oman's credit rating to junk, joining other rating agencies, and said its outlook for the rating is negative, citing fiscal challenges in an environ...
The Star:
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LONDON: Saudi Arabian stocks are about to join major emerging-markets benchmarks, gaining the attention of many money managers for the first time. But some investors familiar with markets in the Gulf say that Dubai offers bigger potential gains.
theSun:
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KUALA LUMPUR: A total of 44 Malaysians still stranded in Pakistan since Feb 27, following the closure of the Islamic Republic’s air space, is expected to leave the country by the end of the week.
The Star:
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KUALA LUMPUR (Bernama): A total of 44 Malaysians still stranded in Pakistan since Feb 27 following the closure of its airspace is expected to leave the country by the end of the week.
Malay Mail:
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PUTRAJAYA, March 5 — A total of 44 Malaysians still stranded in Pakistan since February 27, following the closure of the Islamic Republic's air space, is expected to leave the country by the end of ...
The Star:
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DUBAI: Kuwait is planning to create a US$10bil fund with China to invest in the two countries, according to people with knowledge of the matter.
The Star:
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London: EFG-Hermes Holding SAE is considering an expansion into South East Asia as Egypt’s biggest investment bank seeks to grow in emerging markets.
The Star:
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LONDON: Uber Technologies Inc is in advanced discussions to buy its Dubai-based rival Careem Networks FZ, a deal that would expand the ride-hailing giant’s operations in the Middle East, according to people familiar with the matter.
Malay Mail:
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BARCELONA, Feb 28 ― Telemedicine has gone way beyond conference calls: new technologies allow doctors to monitor blood pressure and other vital signs ― take X-rays even ― and assist with operati...
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GEORGE TOWN (Feb 27): More than 300 local and international industry players are expected to participate in the 10th Penang International Halal Expo and Conference (PIHEC) from March 1-3.
Free Malaysia Today:
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GEORGE TOWN: An environmental group today rubbished a developer’s vision of Penang rivalling Singapore and Dubai through its three islands reclamation project, saying it will benefit developers more...
Free Malaysia Today:
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GEORGE TOWN: A property and infrastructure developer today envisioned Penang as the “next Singapore”, saying it will be able to rival the republic’s Marina Bay once its three islands reclamation...
The Star:
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Egypt's top administrative court on Saturday lifted a ban on operations by ride-hailing companies Uber and Careem, which have faced fierce opposition from traditional taxi drivers, a judicial source and lawyer said.
Malaysiakini:
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Bangladeshi commandoes shot a passenger on Sunday who had tried to enter the cockpit of a Biman Bangladesh Airlines flight after waving a gun and threatening to blow up the plane, airline and aviation...
Free Malaysia Today:
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KUALA LUMPUR: Bumiputera contractors are in dire straits and want the government to give them jobs in mega projects.
theSun:
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KUALA LUMPUR: The Malaysian Bumiputera Contractors Association is urging the government to give bumiputra contractors an opportunity to partake in mega infrastructure projects in the country and simul...
Malay Mail:
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KUALA LUMPUR, Feb 24 — The Malaysian Bumiputera Contractors Association is urging the government to give Bumiputera contractors an opportunity to partake in mega infrastructure projects in the count...
The Star:
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DUBAI: When Saudi Arabia cut ties with Qatar in mid-2017, many international bankers chose to chase a potential fee windfall in Riyadh over doing deals with its rich but isolated neighbour.
The Star:
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Dubai-based ride-hailing service Careem Networks FZ is looking for new ways to get ahead of main rival Uber Technologies Inc in the Middle East.
Malay Mail:
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PARIS, Feb 14 — European aerospace giant Airbus said today it would stop building its A380 superjumbo, the double-decker jet which earned plaudits from passengers but failed to win over enough airli...
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KUALA LUMPUR (Feb 13): Integrated Logistics Bhd said it is selling its entire 50% stake in Integrated National Logistics DWC-LLC (INL), a loss-making logistics company in Dubai, for 45 million dirham ...
Malay Mail:
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PARIS, Feb 13 — Airbus is nearing a decision to axe production of the world’s largest airliner amid a downward revision in demand from the Gulf and is likely to give an update with its full-year e...
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Source: By Clyde Russell, Reuters (The opinions expressed here are those of the author, a columnist for Reuters.) LAUNCESTON, Australia (Feb 13): Asia's oil refiners are increasingly finding themselve...
The Star:
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DUBAI: Betting on initial public offerings in Saudi Arabia in the past few years has proven to be a bad idea.
Fintech News Malaysia:
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Gold-based savings platform HelloGold has announced their expansion into Africa, with the help of a digital financial inclusion group Baobab as their partner.
Malay Mail:
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DUBAI, Feb 11 — The oil market should reach a balance between supply and demand in the first quarter of this year, United Arab Emirates' Oil Minister Suhail Al Mazrouei told Al-Arabiya television to...
theSun:
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DUBAI: Pakistan Prime Minister Imran Khan has cited the success story of Malaysia’s tourism sector and its contribution to the economy at the World Government Summit 2019 here.
Malay Mail:
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DUBAI, Feb 11 — France's image remains “intact” but investors have begun to ask questions as anti-government protests reach their 13th week, French Economy Minister Bruno Le Maire said yesterday...
Malay Mail:
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ISLAMABAD, Feb 10 — International Monetary Fund chief Christine Lagarde today met Pakistani Prime Minister Imran Khan and assured him that IMF stands ready to support his country.
Malay Mail:
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DUBAI, Feb 10 — The International Monetary Fund today warned governments to gear up for a possible economic storm as growth undershoots expectations.
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GENEVA: Ahead of Automobili Pininfarina’s global reveal of its revolutionary Battista electric hypercar at the Geneva Motor Show, the company has announced details of the first phase of retail speci...
The Star:
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DUBAI: Emirates, the world’s biggest long-haul airline, may feed its appetite for new pilots with recruits from ailing neighbor Etihad Airways and cash-strapped discounter Norwegian Air Shuttle ASA, according to an internal memo from the Gulf carrier obtained by Bloomberg News.
The Edge Markets:
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KUALA LUMPUR (Jan 29): Integrated Logistics Bhd (ILB) announced today plans to dispose of its entire 50% stake in its loss-making unit in Dubai, Integrated National Logistics DWC-LLC (INL), to a share...
The Star:
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DUBAI: Saudi Aramco plans to retain exclusive rights to develop Saudi Arabia’s oil reserves even as the kingdom prepares a multi-billion dollar plan to open up to foreign investment.
The Star:
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The company building the world's first superfast hyperloop train system in the United Arab Emirates will complete a first phase of its construction next year, a top executive said Jan 17.
Malay Mail:
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ABU DHABI (United Arab Emirates), Jan 17 — The company building the world’s first superfast hyperloop train system in the United Arab Emirates will complete a first phase of its construction next ...
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KUALA LUMPUR (Jan 14): The W Hotel ( pictured ) here is up for sale with a price tag of RM360 million, according to a report by The Star . Two out of three sources told the English daily that RM360 m...
The Edge Markets:
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SINGAPORE (Jan 10): Oil prices fell by more than 1% on Thursday on swelling US supply and amid caution after talks between the United States and China finished without any concrete details on a resolu...
Malay Mail:
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DUBAI, Jan 9 — A crackdown on corruption in Saudi Arabia has severely dented the kingdom’s private jet industry in a sign of the impact the campaign has had on private enterprise and the wealthy e...
The Star:
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DUBAI: Residential real estate prices in Dubai could fall by 5 to 10 percent in 2019, weakened by new supply, a strong dollar and lower oil prices, the Middle East chief executive of Savills said on Monday.