Middle East

Dubai Aerospace

Dubai Aerospace explores StandardAero sale - sources

Dubai Aerospace Enterprise Ltd, an aircraft leasing and maintenance company controlled by the government of Dubai, is looking to sell its aviation services unit, StandardAero, for more than $1.8 billion, according to people familiar with the matter.

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A magnifying glass

Check Point buys Israeli cyber security firm Hyperwise

Internet and network security provider Check Point Software Technologies has bought Israeli start-up Hyperwise, saying it will help it compete in the fast growing cyber security market.

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Dubai Financial Area

Dubai World's debt restructuring gets 100 pct creditor backing

State-owned Dubai World has received backing from all its creditors for a $14.6 billion restructuring plan, a court heard on Sunday, paving the way for the deal to be formally approved by May.

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Oil Tanker

First oil tanker docks at Libya's Hariga since strike, storm

An oil tanker has docked at Libya's port of Hariga for the first time since security guards ended a strike this week and a storm passed, a port official said on Thursday.

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Khalid al-Falih

Saudi Aramco stops Red Sea deepwater exploration work: sources

State oil giant Saudi Aramco [SDABO.UL] has put on hold its deepwater oil and gas exploration and drilling activities in the Red Sea because of high costs as it economizes in an environment of low crude prices, industry sources said on Sunday.

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Saudi Arabia's King Salman

Lavish freebies from Saudi king to buoy economy, markets

A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.

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Royal Dutch Shell

Shell signs $11 billion deal to build petrochemicals plant in Iraq

Royal Dutch Shell (RDSa.L) has signed a deal with Iraq worth $11 billion (7 billion pounds) to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday.

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Dubai Shopping Festival

Retreat of Russian shoppers fails to dent Dubai retailers

Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.

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Dubai.jpg

Dubai's Drake & Scull wins $49 million contract

A subsidiary of Dubai’s Drake & Scull International DSI.DU (DSI) has won a 180 million dirham ($49 million) engineering contract in the emirate, the parent firm said on Sunday.

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Libya

Volatile Libya resumes commercial flights to Europe

Commercial flights from Libya to mainland Europe resumed after more than six months on Saturday with a Libyan carrier taking off to Germany, the airline said.

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Amazon

Amazon in talks to buy Israeli start-up Annapurna Labs: newspaper

U.S. tech giant Amazon is in talks to buy Israeli chipmaker Annapurna Labs for up to $370 million, financial newspaper Calcalist reported on Thursday.

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Dropbox

Dropbox buys U.S.-Israeli mobile document firm CloudOn

Online document-sharing company Dropbox has acquired U.S.-Israeli CloudOn, a developer of tools to simplify creating and editing documents on mobile devices, the companies said on Wednesday.

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Iraq Oilfield

Oil slips $1 on China economy worries, record Iraq output

Brent crude oil prices fell below $49 a barrel and U.S. crude also fell more than $1 on Monday after the global economic outlook darkened and Iraq announced record oil production.

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Bijan Zanganeh

Iran sees no OPEC shift toward a cut, says oil industry could withstand $25 crude

Iran sees no sign of a shift within OPEC toward action to support oil prices, its oil minister said, adding its oil industry could ride out a further price slump to $25 a barrel.

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Venezuela's President Nicolas Maduro (R) and Iran's President Hassan Rouhani

Venezuela, Iran plea for oil cut hits Gulf OPEC brick wall

A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group's Gulf members to do so for now, delegates said on Monday.

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