Middle East

Qatar Airways takes $1.7 billion stake in British Airways-owner IAG

Qatar Airways has bought a 9.99 percent stake in International Consolidated Airlines Group (IAG) worth around 1.15 billion pounds ($1.7 billion), building closer ties with the owner of its partners British Airways and Iberia in the oneworld alliance.

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Dealmakers in Davos see more M&A despite geopolitical risks

Low borrowing costs, currency shifts and the hunt for both cost savings and growth opportunities will drive a steady flow of merger and acquisition deals this year despite geopolitical tensions, according to business leaders meeting this week.

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Apparent Islamic State backers hack U.S. military Twitter feed

The Twitter and YouTube accounts for the U.S. military command that oversees operations in the Middle East were hacked on Monday by people claiming to be sympathetic toward the Islamic State militant group being targeted in American bombing raids.

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Fear factor fades as global M&A hits seven-year high

Chief executives got their deal-making confidence back in 2014, emboldened by a clearer outlook for their businesses to take the global value for mergers and acquisitions (M&A) to their highest annual level since 2007.

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Oil slumps near $59 for first time since 2009 on oversupply

Oil fell to just above $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.

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OPEC chief defends policy, says group to try to ride out price fall

Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators.

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Iran uses China bank to transfer funds to Quds-linked companies – report

There is no trace of Shenzhen Lanhao Days Electronic Technology Co Ltd at its listed address in the beige and pink-tiled "Fragrant Villa" apartment complex in this southern Chinese city. The building's managers say they’ve never heard of it.

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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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Asian shares tread water as China GDP awaited

Asian stocks balked at the starting gate on Tuesday, as investors looked past solid gains on Wall Street overnight to Chinese economic growth figures due later in the session.

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U.S. Fed frets over strong dollar, global woes: minutes

Federal Reserve officials want to tie an interest-rate rise to U.S. economic progress, but the minutes of their last policy meeting show they are struggling with how to come to grips with the dual threats of a stronger dollar and a global slowdown.

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Russia's VTB Capital closes in on Roberto Cavalli- sources

VTB Capital, the investment arm of sanctioned Russian lender VTB Bank (VTBR.MM), has made a cash payment to secure a deal to buy most of Italian fashion house Roberto Cavalli before the end of November, two sources familiar with the situation said.

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Want to get back into stocks? Check junk spreads first

A positive vibe returned to the U.S. stock market Friday, leaving some to wonder if, after two weeks of losses, the latest selloff scare was over. The best clues may come from what happens to low-quality corporate bonds.

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Dollar heads for best run in 17 years

The U.S. dollar headed for its ninth straight week of gains on Friday, some measure of how the economic fortunes of the United States and its major economic peers are diverging after six years of financial turmoil.

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Nearly 400 million Twitter users estimated by 2018: study

Twitter Inc's messaging service will have close to 400 million global users by 2018, mostly in Asia, Latin American and the Middle East, consulting firm eMarketer estimated on Tuesday, far short of the 1 billion once expected.

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Real estate listing platform Lamudi gets USD7 million funding

Rocket Internet's Lamudi has received USD7 million funding from Tengelmann Ventures and other new investors left undisclosed, reported TechCrunch.

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