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Branding is displayed for Vodafone at one of its stores in London, Britain, June 14, 2023. REUTERS/Toby Melville/File PhotoDUBAI, Aug 2 (Reuters) - UAE's e& (EAND.AD) has submitted an offer to increase its stake in Vodafone (VOD.L) by 20%, e&'s CEO Hatem Dowidar told CNBC Arabia on Wednesday. The company formerly known as Etisalat, e& has been gradually building up its stake in the British telecoms company ever since it took a 9.8% stake for $4.4 billion in May 2022. The UAE operator's cooperation with Vodafone is awaiting regulatory approvals in countries where the British company operates, which "include an agreement to regulate relations between the two companies, and also the possibility of increasing our stake to 20%," Dowidar said. Reporting by Jana Choukeir, Writing by Clauda Tanios, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Hatem Dowidar, Dowidar, Jana Choukeir, Clauda Tanios, Louise Heavens Organizations: Vodafone, REUTERS, CNBC Arabia, Etisalat, SEC, British, Thomson Locations: London, Britain, DUBAI, British, UAE

☆ UN starts removing oil from decaying tanker near Yemen in Red Sea
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

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 ship-to-ship transfer of oil which has started today is the critical next step in avoiding an environmental and humanitarian catastrophe on a colossal scale." The oil transfer is expected to take 19 days to complete, the United Nations' Development Programme (UNDP) said in a statement. "We are obviously very cautious – it's only the beginning of a transfer," UNDP spokesperson Sarah Bel told a Geneva press briefing when asked about the operation's risks. "The cost of an oil spill is estimated to be approximately $20 billion, and it will take years to clean up," she added.

Persons: Antonio Guterres, Sarah Bel, Nadine Awadalla, Nayera Abdallah, Emma Farge, Clauda Tanios, Louise Heavens, Jan Harvey Organizations: United Nations, Programme, UNDP, Thomson Locations: DUBAI, GENEVA, Alaska, Yemen, Geneva, Dubai

☆ Saudi budget carrier flynas signs deal for 30 Airbus jets -state TV
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

DUBAI, June 19 (Reuters) - Saudi budget airline flynas has signed a 14 billion riyal ($3.73 billion) agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday. ($1 = 3.7502 riyals)Reporting by Nayera Abdallah Writing by Clauda Tanios Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayera Abdallah, Clauda, David Goodman Organizations: flynas, Airbus, Saudi, Thomson Locations: DUBAI, Saudi

☆ Qatar to invest $5 billion in Iraq over coming years
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

DUBAI, June 15 (Reuters) - Qatar intends to invest $5 billion in a number of sectors in Iraq over the coming years, the state news agency quoted Qatar's Emir Sheikh Tamim bin Hamad al-Thani as saying on Thursday. In addition, a number of agreements were made with Qatar's private sector in the fields of energy, electricity, hotels and hospital management. Qatar is a partner in TotalEnergies' (TTEF.PA) $27 billion energy cluster of energy projects in Iraq, with a 25% stake. Qatar has said previously that, like other Gulf states, it would support regional economies through commercial investments rather by providing direct financial aid. Reporting by Clauda Tanios; Editing by Nick Macfie and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheikh Tamim bin Hamad, TotalEnergies, Clauda Tanios, Nick Macfie, Nick Zieminski Organizations: Basra Oil Company, Thomson Locations: DUBAI, Qatar, Iraq, Thani, Baghdad, Basra, TotalEnergies

☆ Qatar to invest $5 bln in Iraq over coming years
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

☆ UAE central bank issues AML/CTF guidance for dealing with virtual assets
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

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

☆ Ukraine's Zelenskiy lands in Jeddah to attend Arab League - al-Hadath TV
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

DUBAI, May 19 (Reuters) - Ukrainian President Volodymyr Zelenskiy landed in Jeddah on Friday to attend an Arab League summit, where Syrian President Bashar al-Assad, heavily-backed by Russia in his country's civil war, will also be present now that his regional isolation ended. He is also due to attend the G7 leaders' summit in the Japanese city of Hiroshima this weekend. Last year Prince Mohammed won a diplomatic triumph when he secured the release of 10 foreigners captured by Russia in Ukraine. The kingdom faced heavy criticism from the United States over an OPEC+ decision to cut oil production, seen as helping Russia to refill its coffers by boosting prices. Even though the October decision initially drew heavy criticism from the United States and other Western countries, market dynamics since then have shown the cuts to be prudent.

☆ China's Xi speaks with Saudi crown prince, supports Saudi-Iran talks
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 28 (Reuters) - China's President Xi Jinping spoke by phone with Saudi Crown Prince Mohammed bin Salman Al Saud, discussing a wide range of subjects including supporting follow-up talks between Saudi Arabia and Iran, state media CCTV reported on Tuesday. Xi recently helped broker a surprise deal between Iran and Saudi Arabia, Middle East rivals, earlier this month to restore diplomatic ties, in a display of China's growing influence in the region which is being warily watched by the United States. Prince Mohammed, who is also the kingdom's prime minister, voiced appreciation for China's initiative to support "efforts to develop good neighbourliness" between Sunni Muslim Saudi Arabia and Shi'ite Iran, Saudi state news agency SPA said. The two leaders stressed the importance of strategic ties between Saudi Arabia, the world's top oil exporter, and economic powerhouse China, a main trade partner of Gulf states, it added. Saudi Arabia and other Gulf states have voiced concern about perceived disengagement by main security guarantor the United States from the region and have moved to diversify partners with an eye on national economic and security interests.

☆ Saudi investment in Iran could happen 'very quickly' after agreement - minister
▼ + stars: | 2023-03-15 | by ( Rachna Uppal | ) www.reuters.com time to read: +1 min

RIYADH, March 15 (Reuters) - Saudi Arabia's finance minister, Mohammed al-Jadaan, said on Wednesday that Saudi investments into Iran could happen "very quickly" following an agreement. "There are a lot of opportunities for Saudi investments in Iran. Tehran and Riyadh agreed to resume diplomatic relations and re-open embassies within two months, according to a statement issued by Iran, Saudi Arabia and China, which brokered the deal. "To focus on your economic development and focus on providing for the people in your country, you need stability, and they (Iran) need both," al-Jadaan said in Riyadh. He said there are a lot of opportunities in Iran and that Saudi Arabia also provides a lot of opportunities for them.

☆ Saudi Arabia deposits $5 bln in Turkey's central bank - statement
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

DUBAI, March 6 (Reuters) - Saudi Arabia has signed an agreement with Turkey to deposit $5 billion in the country's central bank through the Saudi Fund for Development (SFD), the fund said on Monday. Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan announced his country's intention to make the deposit in December. The Turkish central bank's net international reserves fell some $1.4 billion to $20.2 billion in the week to Feb. 24, data from the bank showed on Thursday. The Saudi deposit follows joint efforts by Ankara and Riyadh to mend ties that were ruptured after the murder of Saudi journalist Jamal Khashoggi in 2018 at the kingdom's consulate in Istanbul. The deposit was signed between SFD Chairman Ahmed Aqeel Al-Khateeb, who is also Saudi Arabia's tourism minister, and Turkish Central Bank Governor Sahap Kavcioglu, the SFD statement said.

Summary Egyptian FM says 'goal of visit primarily humanitarian'And to 'pass on our solidarity' from people of EgyptArab League suspended Syria in 2011DAMASCUS, Feb 27 (Reuters) - Egypt's foreign minister met Syrian President Bashar al-Assad and Turkish Foreign Minister Mevlut Cavusoglu on Monday in the first visits to Syria and Turkey by a top Egyptian diplomat in a decade. "The goal of the visit is primarily humanitarian, and to pass on our solidarity – from the leadership, the government and the people of Egypt to the people of Syria," Egyptian Foreign Minister Sameh Shoukry told reporters in Damascus. "When the foreign minister of Egypt comes to Damascus, he comes to his home, his people, and his country," Mekdad said. Shoukry also visited Turkey, pointing to another shift in Egypt's foreign ties. "Foreign minister offers condolences for the victims of earthquake, affirms solidarity of Egyptian leadership, government and people with Turkey, and asserting continuity of aid for supporting Turkey and its brotherly people," Ahmed Abu Zeid, spokesperson for Egypt's Foreign Ministry, said.

☆ UN aid chief: quake rescue phase 'coming to a close'
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

ALEPPO, Syria, Feb 13 (Reuters) - The phase of the rescue after the major earthquake struck Turkey and Syria a week ago is "coming to a close" with urgency now switching to shelter, food, schooling and psychosocial care, the U.N. aid chief said during a visit to Syria on Monday. The Feb. 6 earthquake struck a swathe of northwest Syria, a region partitioned by the 11-year-long war, including insurgent-held territory at the Turkish border and government areas controlled by President Bashar al-Assad. Griffiths said the United Nations would have aid moving from government-held regions to the rebel-held northwest, a front line across which aid has seldom passed during the conflict. The United Nations said more than 4,300 had been reported killed in the northwest, and more than 7,600 injured. Reporting by Reuters TV; Writing by Timour Azhari/Tom Perry, Writing by Clauda Tanios; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Syria earthquake toll rises to more than 230 dead, 600 wounded - senior health official
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: 1 min

[1/3] Rescuers work at the site of a damaged building, following an earthquake, in rebel-held Azaz, Syria February 6, 2023. REUTERS/Mahmoud HassanoBEIRUT, Feb 6 (Reuters) - A major earthquake killed more than 200 people and injured more than 600 others in Syria, a senior health official told Syrian state TV on Monday. "The earthquake toll rose to 237 killed and 639 injured," Ahmed Damiriyye, an aide to Syria's health minister, said. Reporting by Maya Gebeily; Writing by Clauda Tanios; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Davos 2023: China to boost oil demand by up to 500,000 bpd, OPEC tells Sky News Arabia
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

DAVOS, Jan 17 (Reuters) - Chinese appetite for oil is expected to raise demand by 500,000 barrels per day after the country curbed its COVID-19 restrictions, OPEC Secretary General Haitham al-Ghais told Abu Dhabi-based Sky News Arabia from Davos on Tuesday. Demand from India and China could compensate for shrinkage expected from developed countries, he added. Separately, Al-Ghais said it is still early to assess the impact of sanctions on Russian oil supply. Reporting by Nadine Awadalla and Yomna Ehab Editing by Clauda Tanios Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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