DUBAI (Reuters) – Emirates, Dubai’s flagship carrier, said on Thursday it would seek out new routes to sustain its fast pace of growth after a steep rise in fuel costs punctured annual profits.
The Dubai-government owned airline, which said it has no plans to hedge against fluctuating fuel prices or pass much of the higher costs onto customers, reported a 72-percent drop in 2011 net profit.
DUBAI/SHANGHAI (Reuters) – Formula One organisers are to make a final decision within days on whether to go ahead with the Bahrain Grand Prix as they consider whether anti-government protests, which prevented last year’s running of the premier motor race, will flare up again.
Daily street clashes, a jailed activist on hunger strike and opposition calls to cancel the event have raised uncertainty over the long-planned race, while organisers and the Bahraini government appear set on going forward and keeping things calm.
DUBAI, Nov 16 (Reuters) – A long-awaited French deal
for Dassault to sell at least 60 Rafale warplanes to
the United Arab Emirates hit a new snag on Wednesday when the
Arab country’s crown prince said proposed terms were
“uncompetitive and unworkable.”
The deal, which had been negotiated for the better part of a
year, was thrown into doubt earlier this week when it became
clear that the UAE had asked for details of a rival aircraft,
the Typhoon built by the Eurofighter consortium.
ABU DHABI, Sept 7 (Reuters) – Arab finance ministers
shrugged off the threat to their economies from political
upheaval and a global slowdown on Wednesday, saying ample cash
reserves and mutual support would help them withstand new
The meeting of the 22 ministers follows the fall of Tripoli
to forces opposing the rule of Muammar Gaddafi. Tunisia and
Egypt’s rulers were ousted earlier in the year and there is
ongoing unrest in Yemen, Bahrain and Syria.
RIYADH, July 17 (Reuters) – Saudi Basic Industries Corp
(SABIC) , the world’s biggest petrochemical firm by
market value, said on Sunday that maintaining profitability
would be a tough challenge after posting record profit in the
The bellwether Middle East conglomerate, which supplies
chemicals, industrial polymers, fertilisers and metals globally,
is in a good position to grow its own business while making
acquisitions when necessary, said Chief Executive Mohamed
MANAMA (Reuters) – Bahrain is eager to get back to business after widespread upheaval over the past five months, when a protest movement was crushed by the Gulf state’s Sunni Muslim rulers, but the country remains deeply divided.
Facing international calls to engage with opposition groups dominated by majority Shi’ites, King Hamad bin Isa al-Khalifa opened a national dialogue this week with “all options” on the table to discuss political, economic and social reform.
MANAMA (Reuters) – Talks between Bahrain’s opposition and pro-government groups began on Saturday, aimed at healing the deep rifts caused by protests earlier this year by majority Shi’ites that were stamped out by the Sunni rulers.
The opposition has expressed skepticism over whether the national dialogue, decreed by King Hamad bin Isa al-Khalifa, can accomplish anything, noting that it only has 35 of the 300 seats at the bargaining table.
MANAMA/DUBAI (Reuters) – Bahrain launches a national dialogue Saturday but many in the Shi’ite majority doubt the ruling Sunni monarchy will offer the concessions that could heal wounds caused by a crackdown on pro-democracy protests.
The kingdom, which hosts the U.S. Navy’s Fifth Fleet, has accused its mostly Shi’ite protesters of a sectarian agenda backed from non-Arab Shi’ite power Iran, across Gulf waters.
MANAMA/DUBAI (Reuters) – Bahrain launches a national dialogue on Saturday but majority Shi’ites are skeptical the ruling Sunni monarchy is willing to offer the sort of concessions that could heal wounds caused by a crackdown on pro-democracy protests.
The kingdom, which hosts the U.S. Navy’s Fifth Fleet, has accused its majority Shi’ite population of leading pro-democracy protesters according to a sectarian agenda backed from Shi’ite power Iran, across Gulf waters.