Middle East

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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Steven Udvar-Hazy (L) and Ray Conner (R)

Aircraft lessors wary as new rivals crowd into aviation

Aircraft leasing companies voiced confidence in steady jetliner demand, but warned new aviation investors that they may take a painful hit when central banks start unwinding their efforts to stimulate the economy.

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Intel Corp

Israel approves Intel's $6 billion investment in chip plant

Israel's finance and economy ministries on Monday approved a plan by Intel Corp to invest $6 billion in the upgrade of its chip manufacturing plant, in what would be the largest single investment by a foreign company in the country.

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A logo of Emaar

Dubai's Emaar looks to raise $1.58 billion from malls unit's IPO

Dubai's Emaar Properties is seeking to raise as much as 5.8 billion dirhams ($1.58 billion) from an initial public offer of shares in its shopping malls unit that is expected to be the Gulf's biggest stock sale since 2008.

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Abdel Fattah al-Sisi

Egypt president says no magic bullet for power problems after major blackout

President Abdel Fattah al-Sisi prepared Egyptians on Saturday for more blackouts after lights went out across much of the country this week, saying it would take time and cost the cash-strapped state $12 billion to upgrade the decrepit power grid.

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Boeing

Emirates airline says Ex-Im Bank not critical for its plane financing

Emirates, Dubai's flagship airline, would not have trouble buying planes from Boeing Co (BA.N) even if the U.S. Congress fails to renew the U.S. Export-Import Bank's charter later this month, a senior company executive said on Friday.

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Oil refinery in flame

Iraq's Baiji Refinery repairs to take at least a year

Kurdistan Regional Government's (KRG) Natural Resources Minister Ashti Hawrami on Thursday said it would take more than a year to repair the Baiji Refinery after it was damaged in a series of attacks by Islamic State militants since June.

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Goldman Sachs

Goldman Sachs plans sukuk issue as Islamic finance goes mainstream

Goldman Sachs (GS.N) is reviving plans to issue at least $500 million worth of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.

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