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| By John Kemp | February 22, 2012 08:42 PM |
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The loss of oil supplies from South Sudan, Syria, Yemen and Iran satisfies all the conditions for member countries of the (IEA) to release crude and products from government-controlled stockpiles.
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| By Ahmed Rasheed | February 22, 2012 09:08 PM |
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Iraq has improved the terms under which it will auction off 12 oil and gas exploration blocks in a fourth energy bidding round, after firms said the deals were unattractive.
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| By Devidutta Tripathy | February 22, 2012 10:03 PM |
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UAE telecom operator Etisalat said it would shut down the operations of its Indian joint venture, 3 weeks after an Indian court cancelled the affiliate's licence amid a corruption probe.
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Yemen's oil output hit by political turmoil
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| By Daniel Fineren, Humeyra Pamuk | February 22, 2012 11:11 PM |
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The country's economy is heavily dependant on hydrocarbons, which account for 30 percent of gross domestic product, nearly 75 percent of government revenues.
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Saudi extends rally on banks, petchems; most Gulf up
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| By Nadia Saleem, Shaimaa Fayed | February 22, 2012 10:14 PM |
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Saudi petrochemical and banking stocks helped the index hit a new three-and-a-half year high on increased interest in local equities, as most Gulf markets while Egypt declined for a second day.
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Libya bank rolls out Islamic products
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| February 22, 2012 02:01 AM |
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The Libyan Foreign Bank will offer Shariah-compliant products as the government prepares regulation to make Islamic banking the norm in the North African nation.
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Syria-Russia trade up 58 percent
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| February 21, 2012 10:00 PM |
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Two-way trade between Syria and Russia jumped 58 percent last year, climbing to $1.97 billion, with the balance heavily in favour of Moscow.
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Saudi's Dar al-Arkan to repay $990 mln debt this year
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| By Asma Alsharif | February 19, 2012 09:26 PM |
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Saudi Arabia's biggest property developer, Dar al-Arkan, plans to repay about 3.7 billion riyals ($986.6 million) of debt this year, its chief financial officer said on Sunday.
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France Telecom Egypt buyout to cost $2 billion
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| By Marie Mawad | February 18, 2012 02:08 AM |
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France Telecom SA may spend about $2 billion to buy most of billionaire Naguib Sawiris’ stake in their Egyptian wireless venture and delist the operator.
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Turkey wants restitution over costly Iran oil ban
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| By Evrim Ergin | February 17, 2012 01:45 AM |
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Turkey’s top oil refiner has asked U.S. officials about compensation for added costs due to any lost Iranian oil imports even as Ankara has said there is no change in oil trade with Tehran.
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