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Abu Dhabi’s Tawazun to build satellite centre with Airbus

DUBAI (Reuters) – Abu Dhabi state defence and security entity Tawazun is to build a satellite assembly, integration and testing centre with Airbus in the United Arab Emirates’ oasis city of Al Ain, state news agency WAM reported on Wednesday. The centre also i... More »

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United Arab Emirates launches mission to Mars

DUBAI (Reuters) – The United Arab Emirates launched its first mission to Mars on Monday as it strives to develop its scientific and technological capabilities and reduce its reliance on oil. The Hope Probe blasted off from Japan’s Tanegashima Space Center at 1... More »

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Saudi King Salman, 84, admitted to hospital

RIYADH (Reuters) – Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Monday. The king, who has ruled the world’s larg... More »

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UAE aims to launch Mars mission on July 20: Dubai Media Office

DUBAI (Reuters) – The United Arab Emirates said on Friday it would launch its mission to Mars on July 20, depending on weather conditions at the launch site in Japan, Dubai’s media office said on Twitter. The launch of the UAE’s Hope Probe from Japan’s Tanegas... More »

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Rainy day hastens sovereign wealth funds’ refocus to home

LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »

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Abu Dhabi’s Etihad cuts hundreds of jobs: sources

DUBAI (Reuters) – Abu Dhabi’s Etihad Airways has laid off hundreds of employees this month, including cabin crew, after the coronavirus pandemic forced it to ground flights, according to industry and company sources. The state-owned airline, which had 20,530 e... More »

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Uber’s Middle East business Careem cuts 31% of workforce

DUBAI (Reuters) – Uber Technologies’ Careem subsidiary said on Monday it was cutting 536 jobs this week, representing 31% of the Dubai-headquartered company’s workforce. The announcement came hours after Uber said it was shuttering its Eats delivery business i... More »

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Japan’s MUFG expects deep recession across GCC countries

DUBAI (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T) expects countries in the six-nation Gulf Cooperation Council (GCC) to be in deep recession this year with overall real GDP contracting 3.7% from a previous growth forecast of 2.9%. Th... More »

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NMC Health to delist from London Stock Exchange

(Reuters) – Troubled hospital operator NMC Health (NMC.L) on Monday said it requested London Stock Exchange to delist its shares after they remained suspended for two months. The UAE-based company was placed into administration earlier this month, on the appli... More »

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UAE against unilateral changes to situation in Yemen: official

DUBAI (Reuters) – The United Arab Emirates stands against a decision by a main Yemeni southern separatist group to declare self-rule in areas it controls, and urges full implementation of a peace deal agreed last year for the south, minister of state for forei... More »

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Oil climbs after OPEC+ agree record output cut

SINGAPORE (Reuters) – Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. After four day... More »

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Disney+ content to make exclusive Middle East debut on OSN

DUBAI (Reuters) – Walt Disney Co’s (DIS.N) Disney+ content will be available for the first time in the Middle East and North Africa on regional pay television and online streaming service provider OSN from April 9. Dubai-headquartered OSN has signed a “long-te... More »

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Sovereign wealth fund appetite for investing in start-ups wanes

LONDON (Reuters) – Sovereign wealth fund investment in venture capital deals slipped to its lowest level in six years in 2019, with the drop-off deepening in the months after WeWork’s planned share sale failed, data showed on Friday. Sovereign wealth-backed ve... More »

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NMC Health founder Shetty resigns as turmoil deepens

(Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole chairman. NMC, the United Arab Emirates’ largest private healthca... More »

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Timeline: NMC Health’s expansion and ailments

(Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as joint non-executive chairman, months after the UAE healthcare group was thrown into turmoil by doubts over its finances. NMC is the largest private healthcare company in the Un... More »

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Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO

DUBAI/LONDON (Reuters) – OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with... More »

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Team by team analysis of the Abu Dhabi Grand Prix

(Reuters) – Team by team analysis of Sunday’s season-ending Abu Dhabi Formula One Grand Prix (listed in championship order): – MERCEDES (Lewis Hamilton 1, Valtteri Bottas 4) Hamilton’s 11th win of the season, fifth in Abu Dhabi and 84th of his career. He start... More »

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Hamilton not ruling out a Ferrari switch

ABU DHABI (Reuters) – Six times world champion Lewis Hamilton did not deny meeting Ferrari chairman John Elkann when asked on Sunday about speculation linking the Mercedes driver with a move to the Italian team in 2021. The 34-year-old Briton will be out of co... More »

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Saudi Aramco markets IPO in Dubai after approaching Kuwait fund

DUBAI (Reuters) – Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional b... More »

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U.S. Mayo Clinic partners with Abu Dhabi to operate hospital

ABU DHABI (Reuters) – Abu Dhabi has partnered with U.S. non-profit organization Mayo Clinic in a joint venture to operate one of the largest hospitals in the United Arab Emirates as it seeks to become a regional hub for world-class healthcare. State-owned Abu ... More »

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Russian military exports unaffected by sanctions: Rostec CEO

DUBAI (Reuters) – Russia’s military export sales have not fallen despite U.S. sanctions, the head of state conglomerate Rostec said on Monday. Rostec, whose business includes weapons manufacturer Kalashnikov as well as Russian Helicopters and United Aircraft C... More »

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Boeing, Airbus kept in suspense over big Dubai jet deals

DUBAI (Reuters) – Airbus (AIR.PA) and Boeing (BA.N) fought to save billions of dollars of jet deals on Sunday as host airline Emirates kept the Dubai Airshow in suspense over dozens of tentative orders designed to fine-tune the world’s largest international ai... More »

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Airbus-backed tournament unveils first electric racing aircraft

(Reuters) – An Airbus-backed air racing tournament unveiled an electric-powered sports aircraft on Sunday, billed as the world’s first, as the European planemaker seeks to boost its green aerospace technology. Several companies, including U.S. ride-hailing com... More »

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Intrigue over absent masterpiece as da Vinci show opens doors

PARIS (Reuters) – A major exhibition marking 500 years since the death of Leonardo da Vinci opened in Paris on Thursday but there was intrigue over whether the “Salvator Mundi” painting of Christ, one of the best-known works attributed to the master, would mak... More »

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Russian spaceship with UAE astronaut blasts off into space

BAIKONUR COSMODROME, Kazakhstan (Reuters) – A Russian Soyuz spaceship blasted off from the Baikonur cosmodrome in Kazakhstan towards the International Space Station on Wednesday carrying a crew of three, including the first astronaut from the United Arab Emira... More »

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Probe starts after UAE satellite lost in failed Vega launch

(Reuters) – An investigation is under way after a European Vega rocket failed after take-off, destroying a military observation satellite as it was about to be placed in orbit for the United Arab Emirates, European space authorities said on Thursday. The Itali... More »

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OPEC set to extend oil supply cut as Iran endorses pact

VIENNA (Reuters) – OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global ... More »

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Former Abraaj executive pleads guilty to U.S. charges

NEW YORK (Reuters) – A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges, admitting that he lied to investors about the firm’s financial health and track record. Former Abra... More »

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Don’t open ‘Pandora’s Box’ in Middle East, China warns

BEIJING (Reuters) – The Chinese government’s top diplomat warned on Tuesday that the world should not open a “Pandora’s Box” in the Middle East, as he denounced U.S. pressure on Iran and called on it not to drop out of a landmark nuclear deal. Fears of a confr... More »

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U.S. military releases new images from oil tanker attacks

WASHINGTON (Reuters) – The U.S. military on Monday released new images it says showed Iran’s Revolutionary Guard (IRGC) removing an unexploded limpet mine from a Japanese-owned tanker that was attacked on June 13 in the Gulf of Oman, as Washington blames Tehra... More »

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France’s Macron urges more dialogue with Iran, regrets…

PARIS (Reuters) – French President Emmanuel Macron said on Monday he regretted Iran’s announcement that it would exceed the allowed enriched uranium limit, but that Paris would hold talks with Iran and its partners to avoid any further escalation in the region... More »

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Saudi Arabia says two Saudi oil tankers attacked near UAE waters

DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UA... More »

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Saudi Arabia to cut crude oil exports in April: Saudi official

DUBAI (Reuters) – Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support ... More »

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Kushner in Gulf region to seek support for Mideast peace plan

ABU DHABI (Reuters) – White House adviser Jared Kushner is visiting U.S.-allied Gulf Arab states to seek support for a long-awaited peace proposal for the Middle East that he said would require concessions from both Israelis and Palestinians. Kushner, who is U... More »

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Athletics: Kenyan teenager Kiprop wins RAK half marathon

(Reuters) – Kenya’s 19-year-old Stephen Kiprop won the Ras Al Khaimah (RAK) half marathon on Friday in a course record-equalling 58 minutes and 42 seconds, the fastest time ever recorded by a teenager. Ethiopians Abadi Hadis and Fikadu Haftu completed the podi... More »

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Iran Guards hold war games as U.S. carrier enters Gulf

DUBAI (Reuters) – Iran’s elite Revolutionary Guards launched war games in the Gulf on Saturday, state television reported, after a U.S. aircraft carrier entered the waterway amid rising tension with Washington over reimposed U.S. sanctions. Television showed a... More »

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Gas-focused Qatar to exit OPEC in swipe at Saudi influence

DOHA (Reuters) – Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the oil exporting group which is trying to show unity in tackling an oil price slide. Doha, one of OPEC’s smallest oil producers but the world’s bi... More »

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Trump seeks to revive ‘Arab NATO’ to confront Iran

WASHINGTON (Reuters) – The Trump administration is quietly pushing ahead with a bid to create a new security and political alliance with six Gulf Arab states, Egypt and Jordan, in part to counter Iran’s expansion in the region, according to U.S. and Arab offic... More »

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Do not blame OPEC, oil producer group says of Trump criticism

CALGARY, Alberta (Reuters) – The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC alone cannot be blamed for all the problems ... More »

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U.S. Justice Department asks watchdog to check for political…

WASHINGTON (Reuters) – The U.S. Justice Department asked its inspector general to expand a review of the National Security Agency’s surveillance application process to determine if political motivations affected the FBI’s probe of Russian interference in the 2... More »

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Prince Alwaleed’s firm sells Movenpick Hotels to AccorHotels

DUBAI (Reuters) – Prince Alwaleed bin Talal’s Kingdom Holding 4280.SE and its partners have agreed to sell Movenpick Hotels and Resorts to its associate firm AccorHotels (ACCP.PA). The deal is expected to close in the second half of 2018, Kingdom Holding said ... More »

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As sukuk disputes simmer, Islamic scholars ponder legal risks

(Reuters) – Senior scholars in Islamic finance are exploring ways to prevent legal disputes that have roiled the industry, with new rules aiming to clarify responsibilities, while others raise the prospect of penalties for their peers. The discussions are part... More »

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Oasis of calm in shattered region, Dubai steps out as art hub

DUBAI (Reuters) – As traditional centers of modern Arab art in Damascus and Baghdad have imploded amid disastrous wars, the sheeny city-state of Dubai in the United Arab Emirates has stepped into the vacuum as a major hub for art sales. But at the annual Art D... More »

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Christie’s to auction rare watch once owned by Egyptian king

DUBAI (Reuters) – A rare gold watch once owned by Egypt’s King Farouk is expected to fetch $400,000 to $800,000 when it auctions this week at Christie’s in Dubai. Made in 1944 and embossed with old Egyptian royal crest, the Patek Philippe 1518 with perpetual c... More »

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Embattled Abraaj frees private equity investors from capital…

FILE PHOTO – Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich NEW YORK/DUBAI (Reuters) – Embattled private equity firm Abraa... More »

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Dubai tests autonomous pods in drive for smart city

A man walks past the world’s first autonomous pods which was launched by the Roads and Transport Authority of Dubai in Dubai, United Arab Emirates February, 28, 2018. Picture taken February, 28, 2018. REUTERS/Satish Kumar DUBAI (Reuters) – Dubai has begun test... More »

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India’s Bollywood legend Sridevi dies at 54 of cardiac arrest

FILE PHOTO: Actress Sridevi Kapoor arrives for the gala presentation of “English Vinglish” at the 37th Toronto International Film Festival, September 14, 2012. REUTERS/Mark Blinch/File Photo NEW DELHI (Reuters) – Indian actress Sridevi, arguably Bollywood’s fi... More »

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Evergreen Federer planning Melbourne return in 2019

Tennis – Australian Open – Melbourne, Australia, January 29, 2018. Roger Federer of Switzerland poses with the men’s singles trophy during the winner’s photoshoot at the government house in Melbourne, Australia. REUTERS/Edgar Su MELBOURNE (Reuters) – Australia... More »

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Record-breaking Ethiopians dominate Dubai Marathon

Roza Dereje Bekele of Ethiopia crosses the finish line of the Dubai Marathon, in Dubai, UAE January 26, 2018. REUTERS/Satish Kumar DUBAI (Reuters) – Ethiopia’s Mosinet Geremew set a new Dubai Marathon record when he sprinted clear from a large group of his com... More »

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Auto1 says no need for IPO after Softbank invests

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo BERLIN (Reuters) – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial ... More »

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Qatar says Emirati plane violated airspace, UAE denies

FILE PHOTO – Buildings are seen on a coast line in Doha, Qatar, June 15, 2017. REUTERS/Naseem Zeitoon DUBAI (Reuters) – Qatar has filed a complaint to the United Nations about an alleged violation of its airspace in December by an Emirati military aircraft, st... More »