Business / Middle East Business

Arab Bank profit edges up in Q1 28 Apr 2013 - 04:46 am

AMMAN: Jordan-based Arab Bank Group made a net profit of $205.1m in the first quarter of the year, up from $204.4m in the...

Sudan sugar firm plans biofuel expansion 28 Apr 2013 - 04:46 am

KHARTOUM: Kenana, Sudan’s biggest sugar producer, plans to more than triple its ethanol output within two years to become a major biofuel exporter...

Zain feels the heat in South Sudan market 27 Apr 2013 - 12:38 am

DUBAI/JUBA: Mobile phone group Zain knew it was facing a challenge when it set out to build up its network in Africa’s newest...

Syria lets pound float to save foreign reserves 25 Apr 2013 - 01:32 am

AMMAN: Syria’s central bank has largely abandoned efforts to support the value of its currency in order to protect its remaining foreign exchange...

Ahli United profit jumps after Qatar stake sale 25 Apr 2013 - 01:31 am

KUWAIT: Bahrain’s Ahli United Bank posted a big jump in first-quarter net profit yesterday as its earnings were boosted by a one-time gain...

Kuwait’s Wataniya fails to halt profit slump 25 Apr 2013 - 01:30 am

DUBAI/KUWAIT: Kuwait’s second-biggest telecom company, Wataniya, failed to halt a profit slump in the first quarter as rivals stepped up competition in its...

Saudi decree may ease $67bn housing logjam 25 Apr 2013 - 01:27 am

DUBAI/RIYADH: A royal decree in Saudi Arabia has shaken up the way in which the government allocates vast tracts of land, removing an...

Etihad to take 24pc stake in Jet Airways in $379m deal 25 Apr 2013 - 01:27 am

MUMBAI/DUBAI: Fast-growing Etihad Airways is taking almost a quarter stake in India’s Jet Airways , giving it a bigger foothold in the fast-growing...

Iran parks millions of oil barrels on tankers as buyers retreat 25 Apr 2013 - 01:27 am

LONDON: Iran is storing millions of barrels of oil on tankers in its territorial waters as Tehran struggles with tougher Western sanctions on...

Ethiopian Airlines set to resume Dreamliner flights 25 Apr 2013 - 01:21 am

ADDIS ABABA: Ethiopian Airlines is set to become the world’s first carrier to resume flying Boeing Co’s 787 Dreamliner passenger jets, with a...

Gulf bond issuance to hit $37bn this year 24 Apr 2013 - 03:26 am

DUBAI: Total US dollar-denominated bond issues from the six Gulf Cooperation Council (GCC) countries are expected to hit $37bn in 2013, dominated by...

Egypt sees 3.8pc growth this fiscal 24 Apr 2013 - 03:25 am

CAIRO: Egypt said its economy will grow by 3.8 percent in the fiscal year starting in July as ministers outlined the 2013/14 budget...

Dubai flights rely on fuel refined from Iranian oil 24 Apr 2013 - 03:21 am

DUBAI: Fuel made from Iranian oil is legally powering thousands of flights a year out of Dubai’s booming airport, despite US pressure on...

HSBC reviewing Iraq operations 22 Apr 2013 - 06:17 am

DUBAI: HSBC Holdings is reviewing its operations in Iraq while continuing to invest in Egypt despite a challenging near-term environment there, the bank’s...

Tehran exhibition 21 Apr 2013 - 04:12 am

Visitors at the 18th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran yesterday.

Regulations stymie funds in Mideast 18 Apr 2013 - 12:51 am

DUBAI: Across much of the Middle East, economic growth is strong and financial markets are picking up. But there is surprisingly little cheer...

Turkish Airlines seals $9.3bn deal with Airbus 18 Apr 2013 - 12:50 am

ISTANBUL: Turkish national flag-carrier Turkish Airlines (THY) signed yesterday a gigantic deal for up to 117 planes with European manufacturer Airbus in a...

No word from regulator on QInvest deal: EFG 17 Apr 2013 - 06:35 am

CAIRO: EFG-Hermes, the Middle East’s largest investment bank, said yesterday that it had not received notification from Egypt’s financial regulator of clearance for...