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UPDATE 3-Ahead of promised cut, Russia's oil output hits record high

*First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its November oil production, which was its highest in almost 30 years, as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001,...

Source: Reuters

UPDATE 2-Ahead of promised cut, Russia's oil output hits record high

*First joint cut between OPEC and Russia since 2001. MOSCOW, Dec 2- Russia plans to use its post-Soviet era record high November oil production as its baseline when it cuts output under this week's deal with OPEC, Deputy Energy Minister Kirill Molodtsov said on Friday. Under this week's follow-up agreement, the first between OPEC and Russia since 2001, specific...

Source: Reuters

MIDEAST STOCKS-Gulf markets firm as OPEC deal lifts state revenue prospects

*OPEC deal could have modest positive impact on state finances. DUBAI, Dec 1- Petrochemicals companies led Gulf stock markets higher on Thursday in response to OPEC's first agreement on output cuts to prop up oil prices since 2008-- a deal that could allow governments to ease austerity policies slightly. Saudi Arabia is to take the lion's share of cuts, lowering...

Source: Reuters

UPDATE 1-Tunisia hosts investors to revive post-revolution economy

*Participation in projects worth $30 billion on offer. TUNIS, Nov 28- Tunisia is hoping to reverse a decline in foreign investment and shake off some of its post-revolution economic malaise at an international conference that opens on Tuesday. France and Qatar are the main foreign backers, with French Prime Minister Manuel Valls and the Emir of Qatar, Sheikh...

Source: Reuters

Tunisia hosts investors to revive post-revolution economy

TUNIS, Nov 28- Tunisia is hoping to reverse a decline in foreign investment and shake off some of its post-revolution economic malaise at a international conference that opens on Tuesday. France and Qatar are the main foreign backers, with French Prime Minister Manuel Valls and the Emir of Qatar, Sheikh Tamim bin Hamad al-Thani, due to address the opening session.

Source: Reuters

Accounting meets religion in challenge for Islamic banks

Nov 28- Reconciling accounting standards and religious principles is challenging Islamic banks and regulators as they adapt to new international book-keeping rules due to come into force in 2018.. This has prompted the Bahrain- based Accounting and Auditing Organisation for Islamic Financial Institutions to set up a working group to look at ways to revise...

Source: Reuters

Accounting meets religion in challenge for Islamic banks

Nov 28- Reconciling accounting standards and religious principles is challenging Islamic banks and regulators as they adapt to new international book-keeping rules due to come into force in 2018.. This has prompted the Bahrain- based Accounting and Auditing Organisation for Islamic Financial Institutions to set up a working group to look at ways to revise...

Source: Reuters

MIDEAST STOCKS-Egypt succumbs to profit taking, Saudi whipsaws but ends week up

*Egypt pulls back as local traders dump shares. DUBAI, Nov 24- Egypt's stock index slipped from a multi-year peak on Thursday while shares in the Gulf were mixed with Saudi Arabia's market swinging in volatile, heavy trade but ending the week on a firm footing. Mohamed El Nabarawy, head of asset mananement at Cairo- based HC Securities& Investment, believes that there...

Source: Reuters

MIDEAST STOCKS-Saudi lifts mood in regional markets; Egypt holds near 8-yr peak

*Dubai's Arabtec surges by daily limit, other speculative shares rally. DUBAI, Nov 23- Saudi Arabia's index firmed on Wednesday as blue chips resumed their climb and the positive mood flowed into other Gulf bourses, carrying them higher. Riyad Capital said in note that STC has maintained its dividend policy of 1 riyal per quarter and they believe it has the ability...

Source: Reuters

MIDEAST STOCKS-Saudi shares rebound, outperform rest of Gulf

*Egypt's blue chip index slips but broader market firm. Egypt's main index pulled back but foreign buyers continued to hunt for bargain buys, lifting the broader index. Hesham Tuffaha, vice president of asset management at Riyadh- based Mulkia Investment, said banks were supported by positive news on the sector over the last month.

Source: Reuters