Business / Middle East Business

Dana Gas collects $73.7m from Egypt and Kurdistan 01 Apr 2013 - 06:30 am

DUBAI: Dana Gas has collected a total of $73.7m in receivables from its operations in Egypt and the Kurdistan region of Iraq in...

Bank depositors in Cyprus to lose 60pc savings 31 Mar 2013 - 01:14 am

Cyclists gather at Eleftheria square in front of a branch of the Bank of Cyprus in Nicosia yesterday. NICOSIA: Major depositors in Cyprus’s...

Gas from Israel’s Tamar field starts flowing 31 Mar 2013 - 01:11 am

JERUSALEM: Natural gas from the Tamar field off Israel’s Mediterranean shores began flowing yesterday, the head of a partner in the field said...

Public spending to push UAE economy up 31 Mar 2013 - 01:10 am

Abu Dhabi: High public spending due to strong oil prices will ally with the UAE’s position as a safe haven for investments to...

No plan to leave euro: Cyprus 29 Mar 2013 - 10:55 pm

A woman gives money to musicians busking in a street in the old part of the Cypriot capital Nicosia yesterday. Businesses and families...

Gold exports from Turkey to Iran resume 29 Mar 2013 - 10:49 pm

ISTANBUL: Turkey exported almost $120m worth of gold to Iran in February, data showed, suggesting the two countries’ trade of gold for natural...

UAE agrees to soften stance on mortgages 29 Mar 2013 - 04:03 am

ABU DHABI: The UAE Central Bank has agreed, in principle, to soften plans to introduce limits on mortgage lending for residential properties following...

Cyprus banks reopen 29 Mar 2013 - 03:34 am

People queue outside a Laiki bank branch in the Cypriot capital of Nicosia, yesterday, as they wait for the bank to open after...

President cuts own salary by 25pc 29 Mar 2013 - 03:34 am

NICOSIA: Cypriot President Nicos Anastasiades has decided to cut his own salary by 25 percent, while cabinet members will take a 20 percent...

Kuwait budget surplus at $60.5bn 28 Mar 2013 - 02:06 am

KUWAIT: Kuwait had a budget surplus of KD17.2bn ($60.5bn) in the first ten months of its fiscal year, preliminary budget data showed yesterday,...

Turkey halts energy deals with ENI over Cyprus row 28 Mar 2013 - 01:09 am

ANKARA: Turkey has suspended energy projects with Italian giant ENI because it is involved in exploration for oil and gas off the divided...

1,600 UAE taxis to run on LNG 28 Mar 2013 - 12:42 am

Abu Dhabi: In light of the lowering cost of gas-operated taxis worldwide, Sharjah, one of the seven emirates of the UAE, is planning...

Egypt plans to apply gains tax in QNB bid for NSGB 27 Mar 2013 - 06:24 am

CAIRO: Shareholders and investment funds that make capital gains from Qatar National Bank’s (QNB) bid for Cairo-based National Societe Generale Bank (NSGB) will...

Cyprus banks remain shuttered 27 Mar 2013 - 06:22 am

Cypriot students shout slogans during an anti-bailout protest outside the presidential palace in Nicosia yesterday. NICOSIA: Cyprus reversed a decision to reopen some...

Dubai Airport handled 5 million passengers in Feb 27 Mar 2013 - 06:20 am

DUBAI: Passenger traffic at Dubai’s main airport surpassed 5 million people in February, rising 11.4 percent from a year earlier, airport authorities said...

$100 a barrel ‘reasonable’ price for oil: Saudi minister 26 Mar 2013 - 06:28 am

KUWAIT CITY: Opec’s largest oil producing member Saudi Arabia yesterday said that $100 a barrel is a “reasonable” price for oil while its...

Region’s bourses mixed as investors await Q1 results 26 Mar 2013 - 06:25 am

DUBAI: Kuwait’s bourse tumbled to a two-week low yesterday as investors sold shares in small-cap companies ahead of a deadline to report corporate...

Cyprus bags €10bn deal 26 Mar 2013 - 02:57 am

BRUSSELS/NICOSIA: Cyprus reached a last-ditch deal with international lenders on a ¤10bn ($13bn) rescue plan to avoid economic meltdown, agreeing to close down...