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FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Riyadh says it aims to stabilise the oil market by extending a voluntary oil output cut of 1 million barrels per day until the end of 2023. Declining oil production and revenue this year could see Saudi Arabia's economy shrink for the first time since 2020 at the height of the COVID-19 pandemic, although a hefty dividend from state oil producer Saudi Aramco (2222.SE) should provide a cushion for public finances. Last year the Saudi economy grew 8.7% and generated a fiscal surplus of 2.5% of GDP, its first surplus in nine years as oil soared to highs near $124. "Certainly, we see no signs that the Public Investment Fund's acquisition streak is cooling," RBC Capital Markets said in a note.

Persons: Ahmed Jadallah, Justin Alexander, Monica Malik, Alexander, James Swanston, PIF, Neil Quilliam, Quilliam, Rachna Uppal, Yousef Saba, Ahmad Ghaddar, Susan Fenton Organizations: REUTERS, Saudi Aramco, OPEC's, Khalij Economics, Abu, Abu Dhabi Commercial Bank, PMI, GlobalSource Partners, Capital Economics, International Monetary Fund, IMF, Public Investment Fund, Saudi, Public Investment, RBC Capital Markets, Reuters, Chatham House, Aramco, Riyadh bourse, Thomson Locations: Aramco, Saudi, Saudi Arabia, DUBAI, Riyadh, Ukraine, Abu Dhabi, Saudi Aramco, London, PIF

A view shows the construction of the King Abdullah Financial District, north of Riyadh, Saudi Arabia April 11, 2016. REUTERS/Faisal Al Nasser/File Photo Acquire Licensing RightsDUBAI, Sept 6 (Reuters) - The International Monetary Fund (IMF) expects GDP growth in Saudi Arabia to slow further from the currently forecast 1.9% to reflect the latest extension of oil production cuts, an IMF official said, even as non-oil growth is seen remaining strong. But cuts to production this year and lower prices have hit oil revenues and will weigh on growth. The IMF forecasts non-oil GDP growth at 4.9% this year. The IMF said the outlook for Saudi Arabia was positive and that risks remained balanced.

Persons: King, Faisal Al Nasser, Mati, Prince Mohammed bin Salman, Rachna Uppal, Yousef Saba, Andrew Cawthorne, Andrea Ricci, Nick Macfie Organizations: King Abdullah Financial District, REUTERS, Rights, Monetary Fund, Reuters, Saudi, IMF, Government, Thomson Locations: Riyadh, Saudi Arabia, Rights DUBAI, Saudi, Aramco, Russia

Saudi Arabia has spearheaded efforts to support prices, making large voluntary output cuts as part of a production deal agreed by the OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia. Saudi Arabia's previous announcements have come ahead of its official selling prices, which typically emerge in the first week of the month. Russian Deputy Prime Minister Alexander Novak, meanwhile, has said that Moscow had agreed with OPEC+ partners on the parameters for continued export cuts in October. Saudi Arabia and Russia could withdraw the cuts at any point, said OANDA analyst Craig Erlam, "but I can't imagine they'll be in any rush and risk sending the price tumbling again." The oil market is vulnerable to price spikes due to low inventories and underinvestment in new oilfields, a senior official at global commodities trading firm Trafigura (TRAFGF.UL) said on Monday.

Persons: Alexander Novak, Craig Erlam, Brent, Russell Hardy, Xi, John Evans, Stephanie Kelly, Paul Carsten, Natalie Grover, Mohi Narayan, Yousef Saba, Andrew Hayley, Jason Neely, David Goodman, Mike Harrison Organizations: Companies, U.S . Federal, of, Petroleum, Saudi, . West Texas, . U.S, Federal, Thomson Locations: Companies Saudi Arabia, Russia, Saudi Arabia, OPEC, Moscow, India, Kuwait, Jizan, Oman, China, ., New York, London, New Delhi, Dubai, Beijing

LONDON, Sept 4 (Reuters) - Oil prices were stable on Monday amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. Both contracts ended last week at their highest in more than half a year, after two previous weeks of losses. "Crude oil prices have been primarily driven by the anticipation of additional supply cuts from major oil-producing nations, Russia and Saudi Arabia," said Sugandha Sachdeva, executive vice president and chief strategist at Acme Investment Advisors. Saudi Arabia is expected to roll over a voluntary 1-million-barrel per day (bpd) cut into October. Saudi Arabia's previous announcements on its voluntary cut extension came ahead of its official selling prices, which typically come out in the first week of the month.

Persons: Sugandha Sachdeva, Sachdeva, Alexander Novak, Russell Hardy, Paul Carsten, Mohi Narayan, Yousef Saba, Andrew Hayley, Simon Clarence Fernandez, Jason Neely Organizations: Federal Reserve, Brent, . West Texas, Acme Investment Advisors, Saudi, Russia, Organization of, Petroleum, Reserve, PMI, Investors, Thomson Locations: U.S, Russia, Saudi Arabia, India, Kuwait, Jizan, Oman, China, London, New Delhi, Dubai, Beijing

☆ BRICS expansion hopefuls seek to rebalance world order
▼ + stars: | 2023-08-21 | by ( Joe Bavier | ) www.reuters.com time to read: +6 min

[1/6] People walk past the Sandton Convention Centre, which will host the upcoming BRICS Summit, in Johannesburg, South Africa August 19, 2023. The wealthy West's domination of international bodies, such as the United Nations, the International Monetary Fund or the World Bank. DEVELOPING WORLD DISCONTENTWhile BRICS has not divulged a full list of expansion candidates, a number of governments have publicly stated their interest. Others want changes at the World Trade Organization, International Monetary Fund and World Bank. Its BRICS trade has indeed increased steadily since it joined, according to an analysis by the country's Industrial Development Corporation.

Persons: James Oatway, Rob Davies, South, bode, Vladimir Putin, Steven Gruzd, BRICS, Ramón Lobo, Gruzd, Lucinda Elliott, Deisy, Yousef Saba, Gustavo Palencia, Lamine Chikhi, Ahmed Eljechtimi, Tomasz Janowski Organizations: Sandton, REUTERS, United Nations, International Monetary Fund, World Bank, BRICS, Observers, South African Institute of International Affairs, U.S ., Reuters, United, Emirates, World Trade Organization, Argentine, New Development Bank, Russia, Industrial Development Corporation, South, Thomson Locations: Johannesburg, South Africa, JOHANNESBURG, Iran, Argentina, Brazil, Russia, India, China, Ukraine, Venezuela, Gulf, Saudi Arabia, Ethiopia, Nigeria, United Nations, United States, Montevideo, Caracas, Dubai, Tegucigalpa, Lamine, Algiers, Rabat

This would boost the oil giant's non-binding bid to about 11.6 billion euros ($12.63 billion), the people said. The indication of a raised offer is, however, not in writing, the people cautioned, adding that Covestro will take time to consider any next steps. ADNOC last raised its informal offer to 57 euros per share in July. Covestro shares jumped about 4.2% in a volume spike after Bloomberg News first reported that ADNOC was prepared to sweeten its offer. Earlier in August, Covestro reported a 21% fall in revenues to 3.7 billion euros in the second quarter.

Persons: Toru Hanai, ADNOC, Covestro, Austria's, Emma, Victoria Farr, Maha El Dahan, Yousef Saba, Tomasz Janowski Organizations: REUTERS, Abu Dhabi National Oil Co, Reuters, Bloomberg News, Thomson Locations: Gastech, Chiba, Japan, FRANKFURT, DUBAI, Abu Dhabi, Frankfurt, Maha, Dubai

☆ U.S.-led naval group warns ships to avoid Iranian waters to avoid seizure
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +1 min

Attendees hold flags from Iran and the United States as Iranian Americans from across California converge in Los Angeles, California, U.S., January 11, 2020. REUTERS/ Patrick T. Fallon/ File PhotoDUBAI, Aug 13 (Reuters) - A U.S.-led naval coalition in the Gulf has warned ships in the region to stay away from Iranian waters to avoid possible seizure, the U.S. Navy said. "The International Maritime Security Construct is notifying regional mariners of appropriate precautions to minimise the risk of seizure based on current regional tensions, which we seek to de-escalate," Commander Timothy Hawkins, spokesman for the Bahrain-based U.S. Fifth Fleet, said late on Saturday. "Vessels are being advised to transit as far away from Iranian territorial waters as possible." The United States would release some Iranians from U.S. prisons as part of the deal, Iran's mission to the United Nations has said.

Persons: Patrick T, Timothy Hawkins, Yousef Saba, William Mallard Organizations: REUTERS, U.S . Navy, Fifth Fleet, United Nations, Thomson Locations: Iran, United States, California, Los Angeles , California, U.S, DUBAI, Hormuz, Washington, Tehran, South Korea, Bahrain, Oman, United

☆ Saudi Arabia's Ma'aden profit sinks 91% on lower prices, higher costs
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Aug 13 (Reuters) - Saudi Arabian Mining Company (1211.SE), known as Ma'aden, said on Sunday its second-quarter profit tumbled more than 90% on lower sales prices and higher expenses as it flagged a mixed outlook for its products. That missed analysts' average estimate of 577.6 million riyals in net profit for the second quarter, according to Refinitiv data. "We are beginning to see an improvement in raw material pricing and, despite the challenging market environment, remain well placed to meet the growing long-term demand for our products," Ma'aden Chief Executive Robert Wilt said in a statement. Ma'aden expected prices of ammonia to remain stable in the third quarter "as supply tightness continues to provide marginal upside." Ma'aden sees gold trading in its current range for the rest of the year and raw material prices continuing to ease, "supporting profitability."

Persons: Ma'aden, Robert Wilt, Yousef Saba, Bernadette Baum Organizations: Saudi Arabian Mining Company, Thomson Locations: DUBAI, Saudi, Americas

Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion riyals a year earlier, beating a company-provided median estimate from 15 analysts of $29.8 billion. The group declared a base dividend of about $19.5 billion for the second quarter, roughly in line with its payout for the first quarter. Aramco will begin paying performance-linked dividends for six quarters, starting with a $9.87 billion payout in the third quarter, it said. A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. The firm still sees capital expenditure at between $45 billion and $55 billion this year, Nasser said on a media call.

Persons: Maxim, Graphics Brent, Brent, Amin Nasser, Nasser, Maha El Dahan, Yousef Saba, Jan Harvey, Bernadette Baum Organizations: Aramco, Investment Fund, Saudi, REUTERS, Graphics, of, Petroleum, Thomson Locations: China chem, DUBAI, Saudi Arabian, Aramco, Saudi, Saudi Arabia, Russia, Saudi Aramco, Abqaiq, Moscow, Riyadh

☆ Aramco Q2 profit down 38% to $30 bln
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: 1 min

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File PhotoCompanies Saudi Arabian Oil Co FollowDUBAI, Aug 7 (Reuters) - Saudi Arabian state oil giant Aramco (2222.SE) on Monday reported a near 38% drop in second-quarter net profit reflecting lower oil prices and thinner margins in refining and chemicals. Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion a year earlier, the company said in a bourse filing, but topped the $29.8 billion expected by 15 analysts in an Aramco-provided poll. ($1 = 3.7513 riyals)Reporting by Maha El Dahan and Yousef Saba; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim, Maha El Dahan, Yousef Saba, Jason Neely Organizations: Saudi, REUTERS, Companies Saudi Arabian Oil, Thomson Locations: Saudi Aramco, Abqaiq, Saudi Arabia, DUBAI, Saudi Arabian, Aramco, bourse

☆ Threads user count falls to new lows, highlighting retention challenges
▼ + stars: | 2023-08-03 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

The data from market research firms Similarweb and Sensor Tower highlight the challenges facing Meta as it seeks to exploit the opening created by the chaos surrounding Twitter’s management. Threads’ daily active user count is down 82% from launch as of July 31, according to Sensor Tower, with just eight million users accessing the app each day. On its launch day, Threads users opened the app an average of 14 times and spent an average of 19 minutes scrolling through it, the company reported. The steepest drop-off occurred in the two weeks immediately following Threads’ launch. According to Sensor Tower, Threads’ daily active user count is still falling at a rate of roughly 1% per day.

Persons: Abe Yousef, David Carr, Mark Zuckerberg, ”, we’re, Zuckerberg Organizations: DC CNN, Twitter, Similarweb Locations: Washington

☆ UAE oil giant raises climate goal ahead of key UN summit
▼ + stars: | 2023-07-31 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

The United Arab Emirates supplies nearly 3% of global oil, which is a major source of greenhouse gases. ADNOC said its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, which is among the lowest in the world. On Monday, it said it aimed to cut carbon intensity by 25% by 2030. Intensity-based targets measure the amount of GHG emissions per unit of energy or barrel of oil and gas produced. It said on Monday its 2022 methane intensity was about 0.07% and its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, its first such disclosures.

Persons: Sultan, Jaber, ADNOC, Yousef Saba, Hadeel Al Sayegh, Ron Bousso, Nadine Awadalla, Louise Heavens, Alexander Smith Organizations: Abu Dhabi National Oil Company, United Arab Emirates, Dubai, United, Saudi Aramco, U.S, Exxon, Aramco, Thomson Locations: DUBAI, Abu Dhabi, UAE, United Nations, Saudi

☆ COP28 summit host UAE's climate plans ranked 'insufficient'
▼ + stars: | 2023-07-20 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, July 20 (Reuters) - The United Arab Emirates, host of this year's COP28 UN climate summit, has set out "insufficient" plans to tackle its own contribution to climate change, an independent research group said on Thursday. The UAE strengthened its climate pledge earlier this month to be more ambitious, and its summit leadership has called on other countries to do the same ahead of the talks in November. But the country's new pledge would still see its CO2 emissions increase through to 2030, at odds with the sharp decrease needed to curb climate change, according to the Climate Action Tracker research consortium. Countries agreed under the Paris Agreement to take action to curb climate change to 1.5C above pre-industrial levels, the limit scientists say would avoid its most disastrous impacts. But this will not prevent the UAE from busting its overall climate goals, if fossil fuel use does not decrease, CAT said.

Persons: Sultan al, Jaber, Sarah Heck, Kate Abnett, Yousef Saba, Alexandra Hudson Organizations: United, CAT, Analytics, Investments, Alexandra Hudson Our, Thomson Locations: BRUSSELS, United Arab Emirates, UAE, Paris

☆ Abu Dhabi's ADQ signs $11.5 bln deals with Turkey for earthquake relief, exports
▼ + stars: | 2023-07-19 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Abu Dhabi sovereign wealth fund ADQ said on Wednesday it signed two memoranda of understanding to finance up to $8.5 billion of Turkey earthquake relief bonds and $3 billion in credit facilities to support Turkish exports. The bonds, agreed with Turkey's finance ministry, will fund "comprehensive reconstruction efforts in southern and central Turkiye," ADQ said in a statement. Abu Dhabi has also shifted to deploy more economic diplomacy, often using ADQ. IHC, also chaired by Sheikh Tahnoun, bought a 50% stake in Turkey's Kalyon Enerji for $490 million last August. Reporting by Yousef Saba; Additional reporting by Yomna Ehab; Editing by Peter Graff and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

Persons: ADQ, Tayyip Erdogan, Abu, Abu Dhabi, Sheikh Tahnoun bin Zayed, Sheikh Mohammed, Sheikh Tahnoun, Yousef Saba, Yomna Ehab, Peter Graff, Mike Harrison Organizations: Export Credit Bank of Turkiye, United Arab, UAE, Thomson Locations: Abu Dhabi, Turkey, Turkiye, Syria, United Arab Emirates, Riyadh, Turkey's

☆ Abu Dhabi's Masdar eyeing acquisition targets in US, Europe expansion
▼ + stars: | 2023-07-19 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

DUBAI, July 19 (Reuters) - Abu Dhabi state-owned renewable energy firm Masdar is in discussions with potential acquisition targets in the U.S. and is also looking to expand in Europe, Gulf Arab countries and elsewhere, its chief financial officer said on Wednesday. Masdar is in active discussions and U.S. President Joe Biden's $430 billion Inflation Reduction Act "reinforced" its view of the U.S. market, he said. "So we are already securing new capacities, so my expectation is that we are likely to come to market again in 2024," he said, adding Masdar would only issue bonds for already-secured projects. In November, the UAE and U.S. agreed to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035. Jaber last week said countries at COP28 must face how far behind they are lagging climate targets and agree a plan to get on track.

Persons: Niall Hannigan, Joe Biden's, Masdar, Hannigan, Sultan al, Jaber, Yousef Saba, David Evans Organizations: Abu, Abu Dhabi National Oil Company, Thomson Locations: DUBAI, Abu Dhabi, U.S, Europe, Gulf Arab, North America, Balkans, Poland, Serbia, Montenegro, Greece, Gulf, Saudi Arabia, Asia, Pacific, Africa, Azerbaijan, Uzbekistan, UAE

☆ Turkey's Erdogan ends Gulf tour with Abu Dhabi visit
▼ + stars: | 2023-07-19 | by ( Rachna Uppal | ) www.reuters.com time to read: +2 min

Abu Dhabi is Erdogan's last stop in a Gulf tour that included the Saudi Red Sea city of Jeddah and Doha. Reaping the benefits of his diplomatic efforts, Saudi Arabia agreed on Tuesday to buy Turkish drones in the biggest defence contract in Turkey's history. Turkey also sent troops to Doha when Saudi Arabia and the UAE imposed a blockade on Qatar in 2017. Abu Dhabi agreed last year to a $5-billion swap deal in local currencies with Ankara to help its struggling lira. Reporting by Rachna Uppal in Abu Dhabi and Yousef Saba in Dubai, writing by Aziz El Yaakoubi; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Abu Dhabi, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Rachna Uppal, Yousef Saba, Aziz El Yaakoubi, Bernadette Baum Organizations: United Arab Emirates, Turkish, Thomson Locations: ABU DHABI, Abu Dhabi, Saudi Red Sea, Jeddah, Doha, Saudi Arabia, Riyadh, Turkey, UAE, Qatar, Ankara, Nahyan, Gulf, Dubai

☆ StanChart to sell sub-Saharan Africa business to Access Bank
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

DUBAI, July 14 (Reuters) - Standard Chartered (STAN.L) said on Friday it has reached an agreement to sell its subsidiaries in sub-Saharan Africa to Nigeria's Access Bank, putting into motion a plan announced last year to divest those businesses. Standard Chartered will sell its shareholding in its subsidiaries in Angola, Cameroon, Gambia and Sierra Leone to Access. It will also sell its consumer, private & business banking business in Tanzania to Access Bank, a subsidiary of Access Holdings (ACCESSCORP.LG). "Access Bank will provide a full range of banking services and continuity for key stakeholders including employees and clients of Standard Chartered's businesses across the five aforementioned countries," Standard Chartered said in a statement. The agreement is in line with Standard Chartered's global strategy "aimed at achieving operational efficiencies, reducing complexity, and driving scale," it said.

Persons: Sunil Kaushal, Roosevelt Ogbonna, Yousef Saba, Jason Neely Organizations: Nigeria's Access Bank, Chartered, Access Bank, Access Holdings, Thomson Locations: DUBAI, Saharan Africa, Angola, Cameroon, Gambia, Sierra Leone, Tanzania, Africa, Nigeria

☆ Dubai property prices surge at fastest pace since 2014
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

DUBAI, July 11 (Reuters) - Dubai residential property prices in the year to June 30 rose at their fastest in almost a decade, climbing by 16.9%, while average rents jumped by 22.8%, property consultancy CBRE said on Tuesday. Its property market has boomed after a swift post-pandemic economic rebound and relaxed residency rules. In June 9,876 residential units were sold, up 18.8% from a year earlier, with off-plan sales jumping 44.9% while the secondary market's sales weakened by 0.5%, CBRE added. Average rent was up 22.8% in the year to June 30, slowing from the 24.2% growth recorded at the end of May. ($1 = 3.6729 UAE dirham)Reporting by Yousef Saba Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: CBRE, Taimur Khan, Yousef Saba, David Goodman Organizations: Thomson Locations: DUBAI, Dubai, UAE

☆ Qatar National Bank's Q2 profit falls 4%
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

DUBAI, July 10 (Reuters) - Qatar National Bank (QNBK.QA), the oil-rich Gulf's biggest lender by assets, reported on Monday a 4% drop in second-quarter net profit to 3.7 billion riyals ($1.02 billion). QNB missed analysts' mean estimate of 3.9 billion riyals net profit in the quarter, Refinitiv data showed. Net profit for the first half of the year was 7.6 billion riyals, up 8% from the first half of 2022. Loans and advances also rose 7% to 819 billion riyals. ($1 = 3.6440 Qatar riyals)Reporting by Yousef Saba, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: QNB, Yousef Saba, Louise Heavens Organizations: Qatar National Bank, Group, Thomson Locations: DUBAI, Qatar

DUBAI, July 7 (Reuters) - Dubai's Roads and Transport Authority (RTA) has selected Rothschild & Co (ROTH.PA) to advise on the strategic review of its assets, two sources close to the matter said on Thursday. The transport regulator is considering an initial public offering of Dubai Taxi Corp and its public parking business, said the sources, who declined to be named as the matter is not public. The authority is expected to appoint Emirates NBD for the potential IPOs, two sources with knowledge of the matter said. Dubai raised nearly $8.5 billion from five IPOs last year, fuelled by a government privatisation plan to list 10 state-linked companies to boost stock market activity. The authority was also looking at potential options for its public parking assets and the Nol card, which passengers use to pay for public transport across the emirate.

Persons: Rothschild, Emirates NBD, Nol, Hadeel Al Sayegh, Yousef Saba, Jonathan Oatis, Josie Kao, Louise Heavens Organizations: Transport Authority, Co, Dubai Taxi Corp, RTA, Rothschild, Emirates, dnata, Reuters, Companies, Thomson Locations: DUBAI, Dubai's, Dubai, Europe, Middle East, Africa

☆ Bahrain signs deals to invest $1.3 bln in UK economy
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

July 3 (Reuters) - Bahrain has signed a memorandum of understanding for strategic investments and collaborations with Britain that will see the Gulf state's private sector invest 1 billion pounds ($1.3 billion) in Britain, the Bahraini crown prince's social media account said on Monday. The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management, the twitter account of the crown prince of Bahrain said. ($1 = 0.7881 pounds)Reporting by Yousef Saba and Omar Abdel-Razek Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Yousef Saba, Omar Abdel, Mark Potter Organizations: Bahraini, GFH Financial, Osool Asset Management, Thomson Locations: Bahrain, Britain

☆ Israeli secret service says it captured plot leader in Iran, foiling attack
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, June 29 (Reuters) - Israel said on Thursday its Mossad intelligence service carried out an operation in Iran to capture the suspected leader of an Iranian plot to attack Israeli businesspeople in Cyprus and thwart the attack. Iranian officials were not immediately available for comment. Mossad did not say when the capture took place, where the suspect is now nor when the Cyprus attack would have happened. Israel accuses Iran of backing militant attacks against it, while Iran says Israel has carried out a number of killings of Iranian officials. U.S., European and Israeli officials fear Iran may seek nuclear weapons.

Persons: Israel, Benjamin Netanyahu, Yousef Shahabazi Abbasalilu, Netanyahu, Henriette Chacar, Mark Heinrich, Cynthia Osterman Organizations: Sunday, Revolutionary Guard, Thomson Locations: Iran, Cyprus, Hatzerim, Israel, Tehran, United States

☆ Who is on the missing Titanic sub?
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +4 min

Courtesy of Jannicke Mikkelsen/via REUTERS/File PhotoJune 20 (Reuters) - A five-person submersible vessel taking wealthy adventurers on a $250,000 trip to see the wreckage of the 1912 Titanic disaster 12,500 feet (3,800m) undersea is missing in the Atlantic off Canada. The British billionaire and chairman of aviation consultancy Action Aviation is among those missing, according to his stepson. The 77-year-old French explorer, whom media say is one of the five on board, is director of underwater research at a company that owns the rights to the Titanic wreck. The founder and CEO of the vessel's U.S.-based operating company OceanGate is also on the submersible, according to media reports. "It is an amazingly beautiful wreck," Rush told Britain's Sky news of the Titanic earlier this year.

Persons: Hamish Harding, Jannicke Mikkelsen, HAMISH HARDING, Harding, Buzz Aldrin, Aldrin, SHAHZADA DAWOOD, SULEMAN, Shahzada, PAUL, HENRI NARGEOLET, Rush, Britain's, OceanGate, Ariba Shahid, Kate Holton, Dominique Vidalon, Yousef Saba, Andrew Cawthorne, Christina Fincher, Alexandra Hudson Organizations: Titanic, WHO, Action Aviation, Engro Corporation, SETI, French Navy, France Bleu, STOCKTON RUSH, Britain's Sky, Reuters, Alexandra Hudson Our, Thomson Locations: Atlantic, Canada, British, Dubai, Newfoundland, fertilisers, California, Britain, U.S, Everett, Washington State, Pacific, Gulf of Mexico, Karachi, London, Paris

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

[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

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