Middle East

SABIC

Saudi's SABIC signs deal to use U.S. shale gas at British plant

Saudi Basic Industries Corp 2010.SE has signed a deal to use shale gas from the United States at its Teesside petrochemical plant in Britain, acting chief executive Yousef Abdullah al-Benyan told Reuters on Sunday.

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Teva Pharmaceutical Industries

Teva to buy U.S. drug developer Auspex Pharma for $3.5 billion

Israel's Teva Pharmaceutical Industries said it would buy U.S. neurology drug company Auspex Pharmaceuticals Inc for an equity value of $3.5 billion to boost its portfolio of treatments for the central nervous system.

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Standard Chartered

Stanchart says committed to Islamic banking after head of unit exits

Standard Chartered remains committed to Islamic banking and expects growth in its core markets, a spokesman for the lender said on Sunday, after the head of its Islamic arm departed.

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OPEC

OPEC won't bear burden of propping up oil price: Saudi minister

OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said on Sunday, signaling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June.

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HSBC

HSBC Asset Management buying bonds of commodity exporters, Russia, Brazil

HSBC Global Asset Management, an arm of HSBC Holdings (HSBA.L), is buying bonds of commodity exporting countries because their valuations have dropped so far with the plunge of oil prices, an executive said.

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US Oil Drill

Saudi Arabia's OPEC governor: hard to reach $100-120 oil again

Saudi Arabia's OPEC governor Mohammed al-Madi said on Sunday that he believed it would be difficult for oil to reach a price range of $100-120 per barrel again.

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Israel's election

Business leaders see peace boost if Netanyahu loses Israeli election

An upset victory by Israel's centre-left opposition in Tuesday's election could be a welcome change for a business and corporate sector eager for the "peace dividend" that might come with a government willing to talk with the Palestinians.

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Oil pump

Oil prices stabilizing, will continue to firm up: Saudi adviser

Oil prices have started to stabilize around $60 a barrel in past weeks and will continue to firm up, while crude demand will grow stronger, an adviser to Saudi Arabia's oil minister said on Sunday.

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Emirates Airlines

Emirates Airline expects drop in annual fuel costs

Dubai's Emirates Airline [EMIRA.UL] expects lower oil prices to translate into fuel savings in the financial year ending this month but is braced for foreign exchange hits in markets such as Europe, India and Russia, its chief operating officer said.

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Saudi security forces

Saudi Arabia outpaces India to become top defense importer: IHS

Saudi Arabia overtook India to become the world's biggest weapons importer in 2014, a year when global defense trade rose for the sixth straight year to a record $64.4 billion, research company IHS said on Sunday.

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PayPal

PayPal to buy Israeli cyber security firm CyActive: media

Online payments company PayPal, a unit of eBay (EBAY.O), will buy Israeli cyber security company CyActive for $60 million, Israeli media reported.

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Gas station

Iran would sell more oil if Western sanctions lifted: Mehr agency

Iran said oil prices would not rise above $60 a barrel until 2016 and that it would increase crude exports if Western sanctions over its nuclear program were lifted, the semi-official Mehr news agency reported on Friday.

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Salah El-Zanin

In Gaza, demand grows for a plastic surgeon's services

In a smart building in an upscale neighborhood of Gaza City, Salah El-Zanin is seeing a growing number of clients. Trained in Greece, he is the only plastic surgeon in Gaza with European qualifications, and his business is booming.

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Iraq Oilfield

Iraq says discussing $6 billion bond issue with banks

Iraq is discussing a possible bond issue worth nearly $6 billion with Deutsche Bank and Citibank as part of its efforts to cover a huge projected budget deficit this year, Finance Minister Hoshiyar Zebari said.

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Saudi Arabia's King Salman

Saudi king keeps close hand on oil in remodelling strategic team

Saudi Arabia's subtle change of energy policymaker line-up since the accession of new King Salman in late January appears to give the monarch's inner circle a firmer hand on the kingdom's oil strategy than previous rulers have enjoyed.

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