Middle East

Dubai

Dubai's Souq.com plans "Black Friday" equivalent to help boost sales growth

Dubai-based Souq.com, one of the Middle East's largest e-commerce businesses, aims for high double-digit revenue growth as it introduces "Black Friday"-type discount events to help lure shoppers from the city's retail malls.

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Iranian band Bomrani

Iranian blues and jazz bands find fans in Tehran

Behzad Omrani grew up in Tehran, in a house ringing to the sounds of his father's record collection - mostly the twangs and twirls of American Country & Western.

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William Dudley

Fed's Dudley: expectations for mid-2015 rate lift-off reasonable

Market expectations that U.S. interest rates will start to lift off sometime in mid-2015 are reasonable, New York Federal Reserve President William Dudley said on Thursday.

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Screaming pots

Iranians scream into pots at new contemporary art center

A contemporary art gallery in central Tehran is giving Iranians a chance to let out their frustrations by screaming into clay pots sculpted by a Vancouver-based artist, exhibiting in the country of his ancestors for the first time.

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oilfield

Libya's El Feel oil field shut down, third site within days

An oil field in southwest Libya has closed down, officials said on Sunday, becoming the third oil facility in the chaotic country to shut within a week.

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Ali Abdullah Saleh

U.N. sanctions Yemen's ex-President Saleh, two rebel leaders

The United Nations Security Council imposed targeted sanctions on Friday on Yemen's former President Ali Abdullah Saleh and two senior Houthi rebel leaders for threatening the peace and stability of the country and obstructing the political process.

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Saudi Arabia's Oil Minister Ali al-Naimi

Saudi oil minister to make rare trips to Venezuela, Mexico

Saudi Oil Minister Ali al-Naimi is making his first visits in years to fellow exporters Venezuela and Mexico, although tumbling oil prices are not the stated purpose of the trip, according to officials and sources.

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Tel-Aviv Stock Exchange

Digital pen maker N-trig files for Tel Aviv share offering

N-trig, an Israeli provider of digital pens and chips for touch screens, has submitted a prospectus for an initial public offering on the Tel Aviv Stock Exchange, the company said on Sunday.

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Gulf Coast Countries

Gulf states need to reform spending as oil price slips: Kuwait

Gulf Arab oil exporters will have to reform their state spending and make cuts in some areas because of weak oil prices, Kuwaiti Finance Minister Anas al-Saleh said on Saturday.

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War in Syria

Islamic State keeps up Syrian oil flow despite U.S-led strikes

Islamic State is still extracting and selling oil in Syria and has adapted its trading techniques despite a month of strikes by U.S.-led forces aimed at cutting off this major source of income for the group, residents, oil executives and traders say.

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Oilfield

Facing new oil glut, Saudis avoid 1980s mistakes to halt price slide

Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.

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Royal Dutch Shell

Privately, Saudis tell oil market: get used to lower prices

Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.

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Saudi Aramco

Oil prices headed still lower even as Saudi curbs output: PIRA's Ross

World oil prices are set to fall further, extending a months-long rout as Saudi Arabia is unlikely to make deep enough production cuts to erase a growing surplus of supply, according to Gary Ross, chief executive of PIRA Energy Group.

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Arabtec

Dubai's Arabtec says plan for $40 billion Egypt housing scheme nearly completed

Dubai construction company Arabtec ARTC.DU is close to completing the planning and design stage of its $40 billion deal to build one million homes in Egypt, the company said on Sunday.

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The International Monetary Fund (IMF) logo

Yemen will destabilise economy if it delays reforms - IMF

Yemen will destabilise its economy if it delays reforms such as cuts to energy subsidies, the International Monetary Fund said in a report released after the government rolled back some fuel price rises in the face of political unrest.

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