Business / Middle East Business

Saudi Aramco inks deals for 400,000b/d Jizan plant 15 Nov 2012 - 08:08 am

KHOBAR: Saudi Aramco, the world’s biggest oil producer, signed deals yesterday worth an estimated $6bn to build a refinery in the impoverished region...

High yields are last hope for Bahrain stocks 15 Nov 2012 - 07:57 am

DUBAI: Bahrain’s stock market is the worst-performing in the region this year, but it has a major attraction: ultra-high dividend yields. Unfortunately, the...

Row over terms halts Iran-Turkmen gas supply 15 Nov 2012 - 07:55 am

DUBAI: Supplies of gas from Turkmenistan to Iran have been halted due to a dispute over purchasing terms, Iranian Oil Minister Rostam Qasemi...

Kuwait’s GIH says three creditors reject $1.7bn restructuring plan 14 Nov 2012 - 07:30 am

KUWAIT: Kuwait’s Global Investment House (GIH) said yesterday that three of its creditors had failed to back a $1.7bn debt restructuring plan and...

Crescent Petroleum to enter Libya, Lebanon 14 Nov 2012 - 07:29 am

DUBAI: United Arab Emirates-based Crescent Petroleum is gearing up for expansion in the Iraqi oil and gas sector and a debut into Libya...

First Gulf Bank signs $900m loan deal 14 Nov 2012 - 07:27 am

DUBAI: First Gulf Bank, the second-largest lender by market value in the United Arab Emirates, has signed a three-year $900m loan with a...

Sony launches interchangeable lens cameras 14 Nov 2012 - 07:24 am

By Satish Kanady DUBAI: Sony, the leading consumer electronics and entertainment brand, has unveiled three of its latest cameras: the Alpha SLT-A99, the...

SocGen close to sale of Egypt arm to QNB 13 Nov 2012 - 07:04 am

DUBAI/PARIS: Societe Generale is nearing the sale of its majority stake in an Egyptian bank to Qatar National Bank (QNB), sources familiar with...

Dolphin Energy awards Qatar gas plant deal to L&T 13 Nov 2012 - 07:00 am

ABU DHABI: UAE group Dolphin Energy has awarded a $250m contract to Indian group Larsen & Toubro to upgrade a gas plant in...

Global Agenda Summit 13 Nov 2012 - 06:56 am

Sheikh Mohammed bin Rashid Al Maktoum (centre), Vice President and Prime Minister of the UAE and Ruler of Dubai, looks on during a...

Egypt sees initial IMF deal this week, says minister 13 Nov 2012 - 06:54 am

CAIRO: The Egyptian government expects to sign a memorandum of understanding with the International Monetary Fund for a $4.8bn loan before an IMF...

Sabic sets sights on US shale gas boom 13 Nov 2012 - 06:53 am

JUBAIL, Saudi Arabia: Saudi Basic Industries Corp (Sabic) is considering investing in the United States to capitalise on the shale gas boom there,...

UAE working on bill for debut sovereign bond 13 Nov 2012 - 06:52 am

DUBAI: The United Arab Emirates government is still working on a public debt law that would pave the way for a debut federal...

BP hopeful of re-entering oil bidding round in the UAE 12 Nov 2012 - 07:02 am

ABU DHABI: Oil major BP Plc, shut out of pre-qualification bidding to develop Abu Dhabi’s largest onshore oilfields, is hopeful it can be...

Egypt plans new deficit-reduction steps 12 Nov 2012 - 07:02 am

CAIRO: Egypt’s government has proposed tax changes and reducing energy subsidies to cut a budget deficit running at about 11 percent of gross...

Saudi happy with current oil price, says minister 12 Nov 2012 - 07:01 am

DUBAI: The global oil market is in a good shape and Saudi Arabia is happy with the current oil price, Saudi Oil Minister...

GIB picks banks for dollar bond 12 Nov 2012 - 07:01 am

DUBAI: Gulf International Bank, majority owned by the Saudi Arabian government, has mandated banks to arrange a dollar-denominated bond, planned before the end...

Algeria aims to develop shale gas potential 12 Nov 2012 - 07:00 am

ALGIERS: Algeria, the world’s fourth-largest gas exporter, has decided to develop its shale gas potential as well, but experts fear this could cause...