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Oleg Panteleev, head of the AviaPort aviation think-tank in Moscow, said Russian airlines have "solved the problem" of operating under Western sanctions. When those firms stopped providing services – Lufthansa Technik said it suspended sales to Russia from Feb. 28, 2022 – Russian airlines turned to a pool of far smaller suppliers. Ivan Melnicov, chief executive of Air Rock and another aircraft parts distributor in Moldova called Aerostage Services, denied selling products to Russia. Most of the shipments listed in Russian customs records as having been made by Air Rock and Aerostage took circuitous routes, transiting through the UAE or Kyrgyzstan. He said Skyparts had procured one of the Northrop Grumman parts from a U.S. supplier but denied ever sending it to Russia.
Persons: Paul Hanna, Northrop, Oleg Panteleev, Kirill Skuratov, Northrop Grumman, Ivan Melnicov, Melnicov, Aerostage, Kafolati Komil, Mahmadbashir Yakubov, Kafolati, Skyparts FZCO, Lisa Barrington, Saeed Abdulloev, Skyparts, Karine Bukrey, Ramses Turizm, Bukrey's, Ramazan, Bukrey, Akpinar, Nordwind, Valery Pashaev, Pashaev, Maurice Tamman, David Clarke, Daniel Flynn Organizations: Ural Airlines Airbus, Palma de Mallorca, REUTERS, Rights, U.S ., Northrop Grumman, Central Asia, Airbus, Boeing, Ural Airlines, Northrop, United Arab Emirates, Western, Reuters, of Commerce, European Union, Russian, S7 Airlines, Reuters Graphics Reuters, Aeroflot, Lufthansa Technik, Engineering, Rock Solutions, Air Rock, Aerostage Services, Airlines, UAE, Istikloliyat, Skyparts, Nordwind Airlines, Thomson Locations: Palma de, Spain, Russian, Yekaterinburg, U.S, Moscow, Russia, Central, Ukraine, Tajikistan, UAE, Turkey, China, Kyrgyzstan, Swiss, Germany, Moldova, Air, Moldovan, Saudi Arabia, Komilchon, Ural, Dubai, United Arab, Turkish, Antalya, Nusret, Technic, New York
Iran says it had court order to seize Chevron tanker
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
DUBAI, July 6 (Reuters) - Iran said on Thursday it had a court order to seize a tanker in Gulf waters a day earlier after it collided with an Iranian vessel, one of two tankers the U.S. Navy said it prevented Iran from commandeering. The Richmond Voyager, a Bahamas-flagged oil tanker, had collided with an Iranian vessel and the Iranian navy had a court order to seize it, the Maritime Search and Rescue Center of Iran's Hormozgan Province told the official IRINN news agency. It said Iranian authorities had asked the tanker to stop and had fired shots but the Iranian navy vessel departed when McFaul arrived. U.S. oil company Chevron (CVX.N), which manages the Richmond Voyager, said its crew were safe and the vessel was operating normally. The U.S. Navy had earlier responded to an incident involving the Marshall Islands-flagged oil tanker TRF Moss in the same region.
Persons: McFaul, IRINN, TRF Moss, Lisa Barrington, Tom Hogue, Jason Neely Organizations: U.S . Navy, Richmond, Iranian, Rescue Center, Iran's, Richmond Voyager, Chevron, Marshall, Dubai Newsroom, Thomson Locations: DUBAI, Iran, Iranian, commandeering, Bahamas, Iran's Hormozgan Province, Oman, Richmond, U.S, United States, Hormuz
An Iranian navy vessel fired shots during the second seizure attempt, Navy Fifth Fleet spokesperson Timothy Hawkins said. British maritime security company Ambrey said a warship with a multinational navy task group was in the area at the time and had requested the Iranian navy to "cease harassing" one of the merchant ships. Iran seized two oil tankers in a week just over a month ago, the U.S. Navy said. Refinitiv ship-tracking data shows the Richmond Voyager previously docked in Ras Tannoura in eastern Saudi Arabia before Wednesday's incident in the Gulf of Oman. The Richmond Voyager was sailing away from the Gulf with Singapore listed as its destination, Refinitiv ship tracking showed.
Persons: Timothy Hawkins, Hawkins, Ambrey, IRNA, Lisa Barrington, Jonathan Saul, Rami Ayyub, Jason Neely, David Holmes Organizations: U.S . Navy, Chevron, Richmond Voyager, Navy Fifth Fleet, Reuters, Marshall, Suez, Dubai, Thomson Locations: DUBAI, Iran, Gulf of Oman, U.S, Iranian, Oman, United States, Hormuz, Ras Tannoura, Saudi Arabia, Gulf, Singapore, Marshall Islands, Greece, U.S . Gulf, Mexico, Galveston, Washington
Muslim group says measures needed to prevent Koran desecration
  + stars: | 2023-07-02 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Thaier Al-SudaniCAIRO, July 2 (Reuters) - An Islamic grouping of 57 states said on Sunday collective measures are needed to prevent acts of desecration to the Koran and international law should be used to stop religious hatred after the holy book was burned in a protest in Sweden. A man tore up and burned a Koran outside Stockholm's central mosque on Wednesday, the first day of the Muslim Eid al-Adha holidays. But after the burning, police charged the man who carried it out with agitation against an ethnic or national group. The incident has triggered large protests in Baghdad in front of the Swedish Embassy. Turkey in late January suspended talks with Sweden on its NATO application after a Danish far-right politician burned a copy of the Koran near the Turkish embassy in Stockholm.
Persons: Thaier, Sudani, Hissein Brahim Taha, Omar Abdel Razek, Adam Makary, Lisa Barrington, David Goodman, Alison Williams Organizations: REUTERS, of Islamic Cooperation, NATO, Swedish Embassy, Thomson Locations: Swedish, Stockholm, Baghdad, Iraq, Sudani CAIRO, Sweden, Saudi Arabia's Jeddah, Turkey, United States, Danish, Turkish
At the same time, the property price surge and demand for the ultra-high-end segment is stirring memories of old excesses. In 2008, the global financial crisis hit Dubai hard, leading to a flight of capital and people, a crash in property prices and highly leveraged flagship companies known as government-related entities (GREs) struggling to repay debts. Dubai set up a Debt Management Office in 2022, has repaid or restructured some outstanding debt, and announced plans to list government stakes in 10 companies to raise capital and deepen financial markets. 'GLOBAL SAFE HAVEN'The United Arab Emirates' commercial centre, Dubai has shovelled resources into social and business reforms and sectors like digital technology. Average property prices rose 12.8% in Q1, with villa prices up almost 15%, according to property research firm CBRE.
Persons: Knight Frank, Nasser Al Shaikh, GREs, Shaikh, Justin Alexander, Betterhomes, Richard Waind, Philippe Zuber, Beyonce, Rachna Uppal, Yousef Saba, Lisa Barrington, William Maclean Organizations: Reuters, Khalij, GlobalSource Partners, Dubai Media Office, Management, HAVEN, United Arab Emirates, Villa, Dubai Inc, Emirates, Kerzner, Thomson Locations: Ukraine, DUBAI, Dubai, glitzy, Property, Jebel Ali, Abu Dhabi, Gulf, India, Saudi Arabia, UAE
DUBAI, June 15 (Reuters) - OKX, one of the world's largest cryptocurrency exchanges, is seeking regulatory approval to operate in Dubai as it plans to expand the company's Middle East operations, an executive told Reuters on Thursday. Regulation is an industry trend, OKX Global Head of Government Relations Tim Byun said. Byun said he believed the SEC's move would push more applicants towards innovative regulators like Dubai's Virtual Asset Regulatory Authority (VARA). OKX is regulated in the Bahamas and currently does not allow customers from the United States to use its platform due to regulatory issues. OKX plans to apply for such a licence, Byun said.
Persons: Tim Byun, Binance, Byun, VARA, Lisa Barrington, Yousef Saba, Kirsten Donovan Organizations: Reuters, Government, U.S . Securities, Exchange Commission, SEC, Regulatory, Dubai World Trade Center, United, United Arab Emirates, Dubai International Financial, UAE, Thomson Locations: DUBAI, Dubai, VARA, United Arab, Saudi Arabia, Bahrain, Bahamas, United States
[1/3] Cast member Hailee Steinfeld attends the premiere for Spider-Man: Across the Spider-Verse in Los Angeles, California, U.S., May 30, 2023. The UAE Media Council on Monday said on Twitter it "will not allow the circulation or publication of content contrary to the values and principles of the UAE and the standards of media content in force in the country." Several cinema customer service lines did not say why the film was not listed and government bodies in the UAE, Saudi Arabia and Qatar did not immediately respond to requests for comment. In June 2022 the UAE banned Walt Disney-Pixar's animated feature film "Lightyear" from screening because it features characters in a same-sex relationship. The youth and culture ministry said it "violated the nation's media content standard".
Persons: Hailee Steinfeld, Mario Anzuoni, Vox, Majid Al Futtaim, Majid Al Futaim, Gwen Stacy, Abdullah Al, Sami, Walt Disney, Yousef Saba, Lisa Barrington, Andrew Mills, Nafisa Eltahir, Mohammed Benmansour, William Maclean Organizations: REUTERS, United, Vox Cinemas, Vox, Novo, Reel, Reuters, UAE Media, Walt, Thomson Locations: Los Angeles , California, U.S, DUBAI, United Arab Emirates, United States, Gulf, UAE, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Saudi, Riyadh, Dubai, Doha, Nafisa, Cairo
RIYADH, June 11 (Reuters) - The free trade deal being negotiated between China and the Saudi Arabia-dominated Gulf Cooperation Council needs to protect emerging Gulf industries, the Saudi investment minister said on Sunday, adding he hoped it would be finalised soon. "We need to enable and empower our industries to export, so we hope all countries that negotiate with us for free trade deals know we need to protect our new, emerging industries," Investment Minister Khalid al-Falih said. Talks on a China-GCC Free Trade Agreement (FTA) began in 2004 but have repeatedly stalled, most recently in 2016 after a ninth round. The Gulf's two biggest economies, Saudi Arabia and the United Arab Emirates, have launched new industrial strategies to boost domestic economic growth and non-oil exports. Saudi Arabia is developing sectors including domestic manufacturing, mining and minerals, and advanced technology.
Persons: Khalid al, Falih, Prince Mohammed bin Salman, Aziz El Yaakoubi, Lisa Barrington, Sharon Singleton Organizations: Gulf Cooperation Council, Investment, China Business Conference, GCC, Trade, United Arab Emirates, United Arab, Thomson Locations: RIYADH, China, Saudi Arabia, Saudi, Riyadh, Kingdom of Saudi Arabia, Gulf, United Arab Emirates
After receiving $145 million from Binance.US's operator by 2021, Sigma Chain spent $11 million on buying a yacht, the SEC complaint said, without elaborating. It is unclear from the SEC complaint how much money Zhao is alleged to have drawn from Merit Peak and Sigma Chain. The SEC also said Zhao used Merit Peak to direct more than $16 million to fund Binance's purportedly independent U.S. affiliate Binance.US. Binance used its BUSD holdings to meet customer withdrawals by selling them for dollars as needed, Reuters reported in May. The SEC complaint also identified Binance Labs, a venture capital arm of Binance, as part of the exchange's plan to increase demand for BNB.
Persons: Zhao, Binance, Benoit Tessier LONDON, Changpeng Zhao, John Reed Stark, Stark, Binance's, Angus Berwick, Tom Wilson, Lisa Barrington, Hadeel Al, Elisa Martinuzzi, Alexander Smith Organizations: Viva Technology, Porte de, REUTERS, Binance, Securities and Exchange Commission, SEC, Swiss, Sigma Chain, Reuters, Silicon, Internet, Futures Trading Commission, U.S . Justice, Reuters Graphics, Silvergate Bank, Merit, Sigma, Binance Labs, Thomson Locations: Porte, Paris, France, Binance, U.S, Virgin Islands, Dubai, London, Hadeel Al Sayegh
KUWAIT, June 6 (Reuters) - Kuwait on Tuesday holds its second legislative election in nine months in a bid to resolve a grinding political crisis that has seen parliament repeatedly dissolved and reinstated, hindering economic reforms. Kuwait's last election was in September 2022, when opposition candidates made gains and which was called to replace the 2020 parliament which had been dissolved in a bid to end political bickering. The 2022 vote was nullified in March and parliament was reinstated under its 2020 composition. Frequent political deadlock in Kuwait, the Gulf region's oldest and most lively legislature, has for decades led to cabinet reshuffles and parliament dissolutions. "In terms of moving past this political impasse, political reform is often discussed, but there is little agreement about what type of reform would be best" Freer said.
Persons: state's, reshuffles, Courtney Freer, Freer, Lisa Barrington, Ahmed Hagagy, Bernadette Baum Organizations: National Assembly, Emory University, Monetary Fund, Debt, Thomson Locations: KUWAIT, Kuwait, dissolutions
DUBAI, May 31 (Reuters) - The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as cryptocurrencies and non-fungible tokens, it said on Wednesday. The new guidance discusses the risks arising from dealing with virtual assets and virtual asset service providers, including on due diligence for licensed financial institutions when dealing with these customers and counterparties, the statement said. The guidance, which will come into effect within a month, applies to banks, finance companies, exchange houses, payment service providers, registered hawala providers and insurance companies, agents and brokers. The bank said the guidance takes Financial Action Task Force (FATF) standards into account. The FATF in March 2022 included the UAE on a list of jurisdictions subject to increased monitoring, known as its "grey" list.
Persons: FATF, Clauda Tanios, Lisa Barrington, Sharon Singleton Organizations: UAE Central Bank, Thomson Locations: DUBAI, UAE
DUBAI, May 31 (Reuters) - The United Arab Emirates withdrew from a U.S.-led Middle East maritime security coalition two months ago after evaluating its security relationships, the Gulf state said early on Wednesday. The Combined Maritime Forces is a 34-nation task force, headquartered at the U.S. naval base in Bahrain, working on security, counter-terrorism and counter-piracy in the Red Sea and Gulf areas. "As a result of our ongoing evaluation of effective security cooperation with all partners, two months ago, the UAE withdrew its participation in the Combined Maritime Forces," the Ministry of Foreign Affairs said in a statement carried by state news agency WAM. Five weeks ago, Iran seized two tankers within a week in Gulf waters near the Strait of Hormuz. The U.S. Navy and the UAE Ministry of Foreign Affairs did not immediately respond to requests for comment.
Persons: Lisa Barrington, Christopher Cushing Organizations: United Arab Emirates, Combined Maritime Forces, U.S, UAE, Ministry of Foreign Affairs, Wall, U.S . Navy, UAE Ministry of Foreign Affairs, Thomson Locations: DUBAI, U.S, East, Bahrain, United States, Iran, UAE, Hormuz, Dubai
Operation to empty Yemen Safer oil tanker set to begin, UN says
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: +2 min
DUBAI, May 30 (Reuters) - Operations to salvage 1.1 million barrels of oil from a decaying tanker moored off Yemen's coast will soon begin after a technical support ship arrived on site on Tuesday, the United Nations said. U.N. officials have been warning for years that the Red Sea and Yemen's coastline was at risk as the Safer tanker could spill four times as much oil as the 1989 Exxon Valdez disaster off Alaska. The Ndeavor tanker, with a technical team from Boskalis/SMIT, is in place at the Safer tanker off the coast of Yemen's Ras Isa, the U.N. Humanitarian Coordinator in Yemen David Gressley said on Twitter from on board the Ndeavor. The war in Yemen caused suspension of maintenance operations on the Safer in 2015. Additional funding is still important to finish the process," the U.N said on its Yemen Twitter account.
Persons: U.N, SMIT, Yemen's Ras Isa, Yemen David Gressley, Muhammad Yusuf The, Nayera Abdallah, Lisa Barrington, Bill Berkrot Organizations: United Nations, Boskalis, Twitter, REUTERS, Thomson Locations: DUBAI, Alaska, Yemen's, Yemen, Ras Issa, China, Iran, Saudi Arabia, Riyadh, Tehran
Dubai camel cloning caters to races, beauty pageants
  + stars: | 2023-05-25 | by ( ) www.reuters.com   time to read: +2 min
We have to mature them in the lab for 24 hours before they reach the stage where we can use them for the cloning process," Wani said. Reproductive cloning of animals uses a process called somatic cell nuclear transfer. REUTERS/Rula RouhanaThe Reproductive Biotechnology Centre in Dubai works to preserve the cells of and reproduce elite racing camels, beauty contest winners, milking camels and prized males, Wani said. It has cloned critically endangered, double-humped wild Bactrian camels using the eggs and surrogate mothers of single humped camels, Wani said. After fertilisation with prized sperm, multiple embryos can be transferred to surrogate camels.
Singapore's Whampoa Group to set up digital bank HQ in Bahrain
  + stars: | 2023-05-18 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, May 18 (Reuters) - Singapore's Whampoa Group, an investment firm with stakes in global tech firms, will set up the headquarters of its new digital bank in Bahrain, the Gulf state's Economic Development Board (EDB) said on Thursday. The bank aims to launch at the end of this year, the EDB said. The island state has been actively trying to expand its fintech and finance industry to diversify and strengthen its non-oil economy. "We were impressed by Bahrain's solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate," Whampoa Group CEO Shawn Chan said. Writing by Lisa Barrington; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
DUBAI, May 9 (Reuters) - Dubai's main airport registered a 55.8% increase in passenger traffic in the first quarter of this year compared to last year, reaching 95.6% of 2019 pre-pandemic levels, operator Dubai Airports said on Tuesday. Dubai International Airport (DXB), the world's busiest international hub, welcomed around 21.3 million passengers in the first three months of 2023, Dubai Airports said. Dubai International registered 66 million passengers in 2022. Dubai Airports has revised its 2023 forecast upwards to 83.6 million passengers, bringing it within "striking distance" of 2019 annual traffic, Dubai Airports CEO Paul Griffiths said. DXB is connected to 234 destinations, with India, Saudi Arabia and Britain the top three countries by passenger numbers this quarter, Dubai Airports said.
DUBAI, May 9 (Reuters) - The United Arab Emirates has pulled out of a 2021 deal with Airbus (AIR.PA) to procure a dozen H225M Caracal multirole helicopters for about 800 million euros ($880.6 million), Breaking Defense magazine reported on Tuesday. Breaking Defense quoted Muammar Abdulla Abushehab, an official at the UAE's defence and security acquisitions authority, as saying the decision was not political but was based on financial and technical reasons. Airbus said it had no immediate comment when contacted by Reuters. The UAE government media office did not immediately respond to a request for comment. ($1 = 0.9084 euros)Writing by Lisa Barrington Additional reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Citi appoints new North Africa, Levant and Central Asia head
  + stars: | 2023-05-08 | by ( ) www.reuters.com   time to read: 1 min
DUBAI, May 8 (Reuters) - Banking group Citi has appointed Omar Hafeez as head of its North Africa, Levant and Central Asia operations based in Dubai after a reorganisation of the company's MENA region, it said on Monday. Hafeez transfers from Japan, where he was head of the corporate banking business, the third largest for Citi globally. The North Africa, Levant and Central Asia sub-cluster consists of Algeria, Tunisia, Morocco, Egypt, Jordan, Lebanon, Turkey, Kazakhstan and Israel, Citi said. Reproting by Yousef Saba Writing by Lisa Barrington Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
DUBAI, May 7 (Reuters) - Saudi Arabia's economy grew by 3.9% year-on-year in the first quarter of 2023, according to initial government estimates of real gross domestic product published on Sunday. Non-oil activities grew by 5.8% in the first quarter from a year prior, the General Authority for Statistics said, citing flash estimates, while oil activities grew by 1.3%. Government services activities grew by 4.9%, it said. However growth slowed compared to the fourth quarter of 2022, when GDP grew 5.5% year-on-year. The IMF says the Saudi economy grew 8.7% last year, but projects that Saudi GDP growth will more than halve to 3.1%, this year.
Iran seizes second oil tanker in a week in Gulf, US Navy says
  + stars: | 2023-05-03 | by ( ) www.reuters.com   time to read: +3 min
DUBAI, May 3 (Reuters) - Iran has seized a second oil tanker in a week on Wednesday in Gulf waters, the U.S. Navy said, the latest escalation in a series of seizures or attacks on commercial vessels in Gulf waters since 2019. In Iran's first response, Tehran's prosecutor announced the oil tanker was seized on a judicial order following a complaint by a plaintiff, the judiciary's Mizan news agency said. The incident comes after Iran on Thursday seized a Marshall Islands-flagged oil tanker in the Gulf of Oman called the Advantage Sweet. The Niovi oil tanker seized on Wednesday had been travelling from Dubai toward the UAE's Fujairah port when it was forced by IRGCN boats to change course towards Iranian territorial waters, the Navy said. Since 2019, there have been a series of attacks on shipping in the strategic Gulf waters at times of tension between the United States and Iran.
During the current fighting Egypt has joined calls for an effective ceasefire while saying they consider the conflict an internal matter for Sudan. The most important regional ally for Hemedti before the conflict was the United Arab Emirates. Hemedti said he advised Sudan to cut ties to Wagner after the U.S. imposed sanctions on the private military contractor. Saudi Arabia has had close ties to Burhan and Hemedti, both of whom sent troops to the Saudi-led coalition in Yemen. Israel, which had been hoping to move forward in normalising ties with Sudan, has also offered to host talks.
"We are now aiming to regain the tourism income from (Gulf Cooperation Council countries) to Syria. Some Arab states, including GCC members the United Arab Emirates and Saudi Arabia, are increasingly rebuilding ties with Damascus, reversing years of isolation over Assad's crackdown on protests in 2011 and the ensuing civil war. Machfej said Syria had 1.5 million visitors last year, a third of which were tourists. Tourism ministry data shows 385,000 visitors came to Syria in the first quarter this year, 40,000 of which were non-Arab foreigners. Gulf states along with Egypt, Iraq and Jordan have been discussing Syria's possible return to the Arab League, but no agreement has been reached.
DUBAI, May 1 (Reuters) - BitOasis, a Middle East-focused crypto exchange based in the United Arab Emirates, has received the first broker-dealer minimum viable product operational license from Dubai's crypto regulator, the company said on Monday. BitOasis, which received provisional approval to start the licensing process in March 2022, is the first broker-dealer to complete the minimum viable product (MVP) stage. No firm has yet been licensed under the full market product (FMP) stage, according to VARA's website. BitOasis can now provide broker-dealer services to qualified retail and institutional investors from its headquarters in Dubai under the VARA's regulatory regime, the company said in a statement. Writing by Lisa Barrington; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.
"We could add maybe 85 or 90 destinations depending on the aircraft deliveries," Qatar Airways CEO Akbar Al Baker told reporters. Airbus in March reinstated an order for 73 aircraft from Qatar Airways which it had revoked during a major legal dispute over damage to the surface of grounded A350s. Qatar Airways is also experiencing delayed delivery of Boeing 787 and 777X planes, Al Baker added. He later told reporters that Qatar Airways could pursue codeshares or exchanges of technical assistance with the new airline. High energy prices have not dented passenger demand for travel at Qatar Airways, where load factors, a measure of capacity utilisation, are in the "high 80s" Al Baker told reporters.
UAE evacuates citizens, others from Sudan by plane
  + stars: | 2023-04-29 | by ( ) www.reuters.com   time to read: +1 min
ABU DHABI, April 29 (Reuters) - The United Arab Emirates evacuated its citizens, other nationalities and humanitarian cases from Sudan by plane on Saturday, part of the flow of people fleeing a conflict which broke out two weeks ago. Around 128 evacuees, including British and U.S. citizens, landed in the capital Abu Dhabi where they were greeted by officials. The UAE will host the evacuees until they can be transferred to their own countries, the Ministry of Foreign Affairs and International Cooperation said. We no longer felt secure, people were breaking into homes, they would break and loot," said Nagham Hayati, a Sudanese woman who had left Sudan on the plane. Until the fighting broke out, Sudan had been engaged in an internationally-backed transition toward democratic elections.
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