U.S. and UAE sign pact to resolve airline competition claims | Reuters

U.S. and UAE sign pact to resolve airline competition claims | Reuters:

"The United States and United Arab Emirates signed a deal on Friday to resolve U.S. claims that Gulf carriers have received unfair government subsidies, the U.S. State Department said.

The voluntary agreement, which applies to Etihad and Emirates airline, is similar to a deal announced in January between the United States and Qatar in which Qatar agreed to release detailed financial information about state-owned Qatar Airways.

The UAE’s ambassador to the United States, Yousef Al Otaiba, praised the deal. "



'via Blog this'

Oil prices fall as Iran nuclear deal retains support | Reuters

Oil prices fall as Iran nuclear deal retains support | Reuters:

"Crude prices fell in a see-saw session on Friday, retreating after early gains as it looked likely that U.S. allies would push to maintain a deal with Iran, which could keep that country’s crude exports on global markets.

In another sign global supplies could rise further, data in the afternoon showed U.S. crude producers added 10 rigs in the latest week.

Crude prices remained just below multi-year highs, with Brent on track for a weekly 2.8 percent gain and U.S. crude a 1.2 percent weekly rise."



'via Blog this'

Dana Gas close to a deal on $700m sukuk dispute, say sources - The National

Dana Gas close to a deal on $700m sukuk dispute, say sources - The National:

"Dana Gas has reached an agreement with key holders of $700m of its Islamic bonds to restructure the securities, two people with knowledge of the matter said, possibly ending a legal battle that has unnerved the Islamic finance industry. A committee representing sukukholders, which include BlackRock and Goldman Sachs Group agreed to accept an immediate cash payout of 20 cents to the dollar and to roll the rest into a three-year security, said the people, asking not to be identified because the information isn’t public. A spokesman for the Sharjah, United Arab Emirates-based energy company said it won’t comment on rumours or speculation."



'via Blog this'

Iran says Airbus to announce its decision on selling planes to Tehran soon: Fars | Reuters

Iran says Airbus to announce its decision on selling planes to Tehran soon: Fars | Reuters:

"Iran said on Friday had asked Europe’s Airbus (AIR.PA) to announce whether it would go ahead with its plane deal with Tehran after President Donald Trump pulled the United States out of Iran’s international nuclear deal.

“Airbus will announce its decision in the coming days ... no down payment has been made by Iran to the plane makers for future deliveries,” senior advisor to Iran’s Roads and Urban Development Minister Asghar Fakhrieh-Kashan told the semi-official Fars news agency.

On May 8, Trump pulled the United States out of the 2015 accord with Iran, raising the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies."



'via Blog this'

Oil near multi-year highs as Iran sanctions tighten supply outlook | Reuters

Oil near multi-year highs as Iran sanctions tighten supply outlook | Reuters:

"Oil prices steadied near 3-1/2 year highs on Friday as the prospect of new U.S. sanctions on Iran tightened the outlook for Middle East supply at a time when global crude production is only just keeping pace with rising demand.

The United States plans to reintroduce sanctions against Iran, which pumps about 4 percent of the world’s oil, after abandoning a deal reached in late 2015 that limited Tehran’s nuclear ambitions in exchange for the removal of U.S. and European sanctions.

The global oil market is finely balanced, with top exporter Saudi Arabia and No.1 producer Russia having led efforts to curb oil supply to prop up prices."



'via Blog this'