UNITED ARAB EMIRATES

Oil prices rose more than $1 to above $71 per barrel on Tuesday, helped by a fall in the U.S. dollar after a report Gulf Arab states were in talks to replace the greenback with a basket of currencies in oil trading.

Gulf Arab oil exporters will stay with the dollar as the currency for trading crude, a source in the United Arab Emirates central bank said on Tuesday.

Britain's The Independent newspaper said on Tuesday that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the U.S. dollar with a basket of currencies in the trading of oil.

International real estate firm Hines plans to set up a $1 billion distressed asset fund focusing on the United Arab Emirates, a company official was quoted on Saturday as saying.

A survey of small and mid-sized companies in 12 major global markets showed growing confidence in the state of global trade, Europe's biggest bank, HSBC, said on Tuesday.

Dubai World, a Dubai government holding company, filed a lawsuit in the United States this week against the former head of a subsidiary it accuses of fraud costing the United Arab Emirates firm millions of dollars.

Indian state-run telecoms firm Bharat Sanchar Nigam Ltd (BSNL) has bid for Millicom's Sri Lankan operations, the chairman of the Indian firm said on Wednesday.

A merger between Dubai's top stock exchanges, Dubai Financial Market DFM.DU and Nasdaq Dubai NDAQ.DI, is a possibility, a leading official said, according to newspaper Emirates Business (www.business24-7.ae).

Speakers for the gathering, which runs from October 9-11 in the capital of the United Arab Emirates, include producer Walter Parkes and CBS television executive Nancy Tellem.

Dubai's Istithmar World is freezing investments as part of a restructuring process that may result in sale of the fund or its assets, Bloomberg said, citing people familiar with the plan.

National Bank of Abu Dhabi plans to price a five-year dollar-denominated benchmark bond later on Thursday after securing commitments in excess of $2 billion, a senior official of the bank said.

The market for initial public offerings (IPO) in the Gulf looks set to reopen as stock markets and the oil price recover, and bankers expect a few companies to test the waters when Ramadan ends.

U.S. internet powerhouse Yahoo said on Tuesday it is acquiring Maktoob.com, one of the Arab world's largest online portals, in a bid to tap into the Arab region, making Yahoo available in Arabic.

The Doha Tribeca Film Festival, Qatar's first film event, said on Monday it wants to create a hub for regional filmmakers in the Gulf Arab state, through education initiatives and community involvement.

Visa Inc and MasterCard Inc, the world's largest credit card networks, are counting on foreign markets for the growth that recession-bound U.S. consumers have been unable to provide.

Chinese citizens are allowed to tour another nine nations, including the United Arab Emirates (UAE) in the Middle East, from September 15, according to the National Tourism Administration.

Abu Dhabi-owned energy company TAQA Bratani Ltd plans to boost North Sea oil and gas production by buying up mature oilfields and greatly increasing their efficiency, the head of the company's UK arm said on Thursday.

United Arab Emirates-based Dana Gas said on Saturday it had made two gas finds in Egypt with reserves totalling an estimated 76 billion cubic feet.

Dubai's Emaar Properties EMAR.DU, the builder of the world's tallest tower in the Gulf Emirate, made a loss of 1.29 billion dirhams ($351.2 million) for the second quarter after it wrote off the complete book value of its U.S. unit.

The U.S. Securities and Exchange Commission filed insider trading charges on Monday against a manager at Abu Dhabi Oil Refining Co (AORC) who made more than $450,000 profit from suspicious trades before a takeover of Nova Chemicals Corp.

Securities regulators on Thursday sued a well-connected Kuwaiti financier whose investment firm is partly owned by Citigroup Inc , saying he reaped millions in suspicious profits after fraudulent takeover reports sent shares of two U.S. companies soaring.