Business / Middle East Business

Dubai property boom stirs fears of bubble 11 Oct 2013 - 06:53 am

DUBAI: Dubai’s property sector is making a strong comeback five years after prices in the emirate nose dived, but a surge in demand...

Turkey targets credit cards to cut current account gap 10 Oct 2013 - 01:14 am

ISTANBUL: Turkey introduced measures yesterday to try to control rampant consumer loan growth and lift its domestic savings rate from historic lows, another...

GCC Islamic investment banks eye slimmed-down future 10 Oct 2013 - 01:03 am

Dubai: Management changes at some of the Gulf’s best-known Islamic investment banks point to a fresh start for a sector which is emerging...

Mideast oil exploration on downward trend 09 Oct 2013 - 02:31 am

DUBAI: Middle East oil and gas production growth prospects have been dimmed by a slump in exploration licence awards, drilling activity and average...

KOC plans tender for heavy oil facilities 09 Oct 2013 - 02:30 am

KUWAIT: A unit of state-owned Kuwait Oil Company (KOC) will launch a tender later this year to build facilities to extract heavy crude...

West Bank growth shrinks first time in a decade 09 Oct 2013 - 02:30 am

RAMALLAH, West Bank: The Palestinian economy in the Israeli-occupied West Bank shrank for the first time in a decade in the first half...

Beyond Success Award for Al Muftah 09 Oct 2013 - 02:22 am

Al Muftah Rent a Car was honoured with “Beyond Success Award” by Confederation of World Businesses (Worldcob), Houston. Dr Ziad Usman, Assistant General...

Turkish bond yields dip amid strong debt auction demand 09 Oct 2013 - 02:11 am

ISTANBUL: Turkish bond yields fell yesterday amid strong demand for a series of government debt auctions while stocks were broadly flat, awaiting a...

Taqa gets Kurdistan oil field all clear 08 Oct 2013 - 01:15 am

DUBAI: Abu Dhabi National Energy Company (Taqa) has received approval from the Kurdistan Regional Government (KRG) to develop the Atrush Block in the...

Oman’s AMIC plans IPO as part of conversion into takaful firm 08 Oct 2013 - 01:15 am

DUBAI: Oman’s Al Madina Insurance Co (AMIC) plans to list its shares on the local bourse as part of its transformation into a...

Majnoon oil output reaches milestone 07 Oct 2013 - 02:57 am

A worker walks through the Majnoon oil field in Basra, 420km southeast of Baghdad, yesterday. BAGHDAD: Production from Iraq’s Majnoon oilfield, run by...

$100-110 oil price acceptable, says Kuwait minister 07 Oct 2013 - 02:56 am

KUWAIT CITY: Kuwaiti Oil Minister Mustafa Al Shamali said that an oil price of between $100 to $110 per barrel is acceptable to...

Diversification to fuel rapid growth in GCC 07 Oct 2013 - 02:24 am

DUBAI: According to EY’s most recent Rapid-Growth Markets (RGMs) Forecast, the GCC can expect to see robust economic growth over the medium term...

Ajman Bank sacks chief executive 07 Oct 2013 - 01:14 am

DUBAI: Ajman Bank has sacked its Chief Executive Mohammed Zaqout, less than six months after appointing him to lead the United Arab Emirates’...

Dubai aims to be Islamic business hub 06 Oct 2013 - 01:08 am

DUBAI: Dubai unveiled plans yesterday to become a centre for business that follows Islamic principles in areas from banking and insurance to food...

UAE bourses hire advisers for merger 03 Oct 2013 - 12:42 am

ABU DHABI/DUBAI: Abu Dhabi and Dubai have hired banks to advise on a possible merger of their two main stock exchanges, a state-backed...

Libyan oil exports back in days, says minister 03 Oct 2013 - 12:23 am

LONDON: Libya’s oil exports could return to full capacity in days once strikes in the restive east end, its oil minister said yesterday...