DUBAI (Reuters) – Dubai World’s willingness to sell prized assets such as ports operator DP World to pay down its debt pile is considered such a drastic move that analysts see it more as a last-resort bargaining tactic.
Documents obtained by Reuters this week revealed the surprising news that the debt-laden conglomerate was willing to let go of “strategic assets” such as DP World, Jebel Ali Free Zone and Dubai Maritime City (DMC) as part of a $19.4-billion fundraising effort as it tries to reach a restructuring deal with creditors by October 1.
DUBAI (Reuters) – Amnesty International said on Wednesday the United States appeared to have carried out or collaborated with Yemen in attacks that killed suspected al Qaeda militants, violating international law.
Yemen’s killings of al Qaeda suspects, often in aerial bombings, are extrajudicial executions and are unlawful, the human rights watchdog said, and urged Washington to clarify the involvement of U.S. forces and drones in such attacks.
LONDON/DUBAI (Reuters) – Ships carrying petroleum to Iran face greater scrutiny at ports in the United Arab Emirates as new western sanctions bite leaving the Islamic Republic to seek alternative hubs, trade and shipping sources say.
While the latest sanctions have excluded Iranian crude oil sales, refined oil products imports have been affected with more shipowners fearful of being in breach of the measures.
LONDON/DUBAI, Aug 3 (Reuters) – Ships carrying petroleum to
Iran face greater scrutiny at ports in the United Arab Emirates
as new western sanctions bite leaving the Islamic Republic to
seek alternative hubs, trade and shipping sources say.
While the latest sanctions have excluded Iranian crude oil
sales, refined oil products imports have been affected with more
shipowners fearful of being in breach of the measures.
DUBAI, July 20 (Reuters) – The United Arab Emirates central
bank governor dismissed on Tuesday reports that Iran may seek
payment in dirhams for its oil exports to Europe to get around
sanctions, saying the UAE had no time for jokes.
An Iranian official said on Sunday Tehran was discussing
internally the idea of switching to dirhams from euros as a
possible way to deal with tougher EU sanctions that could block
Iranian transactions in the single European currency.
ADEN, Yemen, July 6 (Reuters) – On a rocky volcanic outcrop
set in the deep and treacherous waters of a vital strait linking
Europe to Asia, Yemen’s coastguard is building a base to help
secure one of the world’s busiest waterways.
Somali pirates trawl the sea south of the Bab al-Mandab
strait off Yemen’s coast, and in recent months have stepped up
attacks on tankers, cargo ships and fishing vessels in defiance
of a major crackdown by navies from at least a dozen countries.
SANAA, July 1 (Reuters) – Rising al Qaeda militancy, a surge
in violence in a secessionist south and crushing poverty will be
this year’s critical tests for Yemen, neighbour to top oil
exporter Saudi Arabia.
Yemen, also trying to cement a truce to end a northern civil
war, has been a major Western security concern since a
Yemen-based regional arm of al Qaeda claimed responsibility for
a December attempt to bomb a U.S.-bound plane.
Worries over instability in Yemen along with widespread
corruption mean there is no significant foreign investment
outside the country’s oil industry and little chance of
attracting any going forward.
SANAA (Reuters) – Rising Yemeni opposition politician Sheikh Hamid al-Ahmar, seen as a potential presidential successor, says he is not aiming for the top job and thinks the country’s next leader should come from the south.
Electing a southerner to succeed President Ali Abdullah Saleh when his term ends in 2013 could go a long way toward calming rising secessionist sentiment there, said Ahmar who like the president hails from the north.
BELHAF, Yemen (Reuters) – Yemen’s Total-led liquefied natural gas (LNG) plant will hit full capacity in weeks and will turn a profit in 2010 by diverting cargo to more attractive markets, its general manager said.
The firm was countering the effect of lower prices in the United States, its core market along with South Korea, by selling gas to Europe and Asian countries including India and China, Francois Rafin told Reuters in an interview on Saturday.
SANAA (Reuters) – When Umar Farouk Abdulmutallab enrolled in an Arabic course in Yemen last year, few who met him could have guessed what this withdrawn young man was really up to, nor the devastating impact he would leave behind.
Staff at the now-deserted language centre where he studied are still reeling from the actions of the Nigerian, suspected of trying to blow up a U.S.-bound plane in December, just weeks after leaving the Arabian peninsula country.