Morning briefing: 2 Nov 2012

Kuwait protests hit markets plus other stories


Brent crude slipped below $108 a barrel on Friday as investors look ahead to key jobs data from the United States for more signs of economic recovery, which would boost fuel demand.

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Intensifying political turmoil in Kuwait, where police used teargas to disperse protesters a day earlier, triggered another sell-off on the country's main index on Thursday, dragging it down to its lowest level since August 2004.

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The Lebanese Energy Ministry said on Thursday the fair price of electricity provided by private generators in November is LL410 for every hour of power supply for customers who receive 5 amperes and LL820 for those who receive 10 amperes.

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Iraq opened on Thursday its biggest trade fair in more than 20 years in the latest step to rebuild an economy battered by decades of conflict and sanctions.

More than 1,500 companies from Iraq and 21 other countries are taking part in the Baghdad International Fair.

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Almost three quarters of a million commuters in the UAE travelled for free on the Metro, buses and water taxis to mark Public Transport Day on Thursday. The Roads and Transport Authority (RTA) estimates that 739,000 passengers took advantage of the waived fees, an increase of more than 42,000 from last year.

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UAE-based Dana Gas failed to repay a $920m Islamic bond on maturity, prompting a source close to holders of the bond to say they will stake claim to the natural gas producer's extensive Egyptian assets.

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More than 60 percent of internet users in the GCC are unable of recognizing a basic phishing message or forged website, a new survey has found.

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The world's most expensive real estate development – part owned by Qatar's Prime Minister – has completed sales worth £1.7bn ($2.7bn), it has been announced.

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