Business / Middle East Business

Dana Gas sues Kurdish govt 23 Oct 2013 - 12:45 am

DUBAI: The largest oil and gas investor in Iraqi Kurdistan has initiated the first major legal case against the regional government over payments...

New Abu Dhabi airport to be operational by July 2017 22 Oct 2013 - 02:13 am

Labourers working at the construction site of Abu Dhabi’s new airport terminal yesterday. The Dh10.8bn ($2.9bn) airport will be operational in July 2017,...

Attiyah: Qatar to implement ambitious energy policy 22 Oct 2013 - 01:52 am

Muscat: Qatar looks to implement with the GCC countries an ambitious energy policy associating economic growth and sustainable development, the Chairman of Administrative...

Inmarsat showcases innovations at InfoComm MEA ’13 21 Oct 2013 - 08:30 am

DUBAI: Inmarsat, the leading provider of global mobile satellite communications services, is showcasing its latest innovations at InfoComm MEA 2013 (C-25 in Zabeel...

Tunisia committed to reform, says premier 21 Oct 2013 - 08:29 am

TUNIS: Political unrest has hurt Tunisia’s growth outlook but it will stay committed to cutting the state budget deficit next year, while relying...

Gulf Bank CEO Accad resigns 21 Oct 2013 - 08:28 am

DUBAI: Michel Accad, the chief executive of Kuwait’s Gulf Bank, has resigned from his post for personal reasons, the lender said in a...

Alcoa partly shuts production at Maaden 17 Oct 2013 - 06:53 am

Riyadh: Aluminum producer Alcoa Inc said yesterday that its smelter at Maaden, Saudi Arabia, which is in its startup phase, has temporarily stopped...

Iraq says China seeking more crude in 2014 17 Oct 2013 - 06:51 am

DAEGU, South Korea: Iraq said China is seeking to increase purchases of its crude by more than two-thirds next year, stepping up the...

Sri Lanka cuts lending rates by 50 basis points 16 Oct 2013 - 02:15 am

COLOMBO: Sri Lanka’s central bank yesterday cut benchmark lending rates by 50 basis points, saying the move was aimed at encouraging growth despite...

Opec’s crude output at right level, says UAE 14 Oct 2013 - 12:29 am

DAEGU, South Korea: Opec’s crude oil production is at a suitable level for the market and there is no talk of the cartel...

Egypt’s GASC has no financing woes over wheat buys 13 Oct 2013 - 11:06 pm

CAIRO: Egypt’s main state wheat-buying entity has no financing problems for global wheat purchases and all letters of credit to suppliers have been...

Bank Dhofar third quarter net profit declines 10.8pc 13 Oct 2013 - 11:05 pm

DUBAI: Bank Dhofar, currently in talks to merge with smaller rival Bank Sohar, recorded a 10.8 percent decline in third-quarter net profit, Reuters...

Saudi Aramco to expand oil output 13 Oct 2013 - 10:50 pm

DAEGU, South Korea: The world’s largest oil exporter, Saudi Aramco, will increase light sour crude output from two fields —Shaybah and Khurais —...

Global monetary tightening likely to impact GCC 13 Oct 2013 - 01:04 am

DOHA: Qatar has taken exception to the International Monetary Fund’s (IMF) assessment that the global monetary tightening will have only limited impact on...

Egypt tenders for floating LNG terminal 13 Oct 2013 - 01:03 am

CAIRO: State-owned Egyptian Natural Gas Holding Company (EGAS) has issued a tender for a floating storage and regasification unit (FSRU) which it hopes...

Syria maintains spending in 2014 budget 13 Oct 2013 - 12:56 am

BEIRUT: Syria’s government has agreed a 2014 budget of 1.39 trillion pounds ($8.18bn), state news agency SANA said yesterday, a marginal increase on...

Syria maintains spending in 2014 budget 13 Oct 2013 - 12:56 am

BEIRUT: Syria’s government has agreed a 2014 budget of 1.39 trillion pounds ($8.18bn), state news agency SANA said yesterday, a marginal increase on...

Iraq inks $6bn refinery deal 11 Oct 2013 - 06:53 am

BAGHDAD: Iraq yesterday signed a $6bn deal for the construction and operation of an oil refinery with a capacity of 150,000 barrels per...