Business / Middle East Business

GCC projects market index reaches $2.49 trillion 23 Oct 2012 - 04:36 am

DOHA: The GCC projects market index rose by 0.2 percent to $2.49 trillion as of the third quarter of 2012. According to Meed’s...

Kurdistan defies Baghdad; begins oil export 23 Oct 2012 - 04:34 am

LONDON: Kurdistan has begun selling its oil into international markets in independent export deals that further challenge Baghdad’s claim to full control over...

Savola seeks shareholder approval for sukuk plan 23 Oct 2012 - 04:30 am

DUBAI: Saudi-based Savola Group will seek shareholder approval for plans to issue Islamic bonds, or sukuk, the company said in a statement to...

FAL files $750m claim against Sharjah Electricity & Water 23 Oct 2012 - 04:30 am

DUBAI: A state-owned utility in the United Arab Emirates owes troubled FAL Oil about Dh2.3m ($631m) for the fuel it bought from the...

UAE’s Du looks to mobile data to drive profit growth 23 Oct 2012 - 04:30 am

DUBAI: Du, the United Arab Emirates’ No.2 telecom operator, aims to capitalise on wealthy customers’ appetite for data via smartphones to offset margin...

Taqa-led group submits lowest price for Saudi power station 23 Oct 2012 - 04:29 am

ABU DHABI/KHOBAR: An Abu Dhabi-led group submitted the lowest price to build a power station in Saudi Arabia, a Saudi statement said, and...

Legal challenges test foreign investors in Egypt 22 Oct 2012 - 04:37 am

CAIRO: Vishnu Swaroop Baldwa is one investor who won’t be returning to Egypt any time soon. “We see better opportunities elsewhere,” said the...

Saudi Aramco chooses builders of Jizan refinery 22 Oct 2012 - 04:36 am

DUBAI: Saudi Aramco, the world’s biggest oil producer, said yesterday that it had chosen Asian and European contractors to build the Jizan oil...

Nakheel profit nearly doubles 22 Oct 2012 - 04:35 am

DUBAI: Dubai’s indebted property developer Nakheel said yesterday that net profit for the first nine months of the year nearly doubled, helped by...

Egypt bourse plans alliance with Turkey 22 Oct 2012 - 04:35 am

CAIRO: Egypt’s bourse is studying an alliance with the Istanbul Stock Exchange that would allow investors in the two countries to trade on...

Saudi Telecom Q3 profit up 25pc 21 Oct 2012 - 06:11 am

RIYADH: Saudi Telecom Co (STC) reported a 25 percent jump in third-quarter profit, missing market expectations. The increase in net profit was because...

Iran’s shipping woes delay crude deliveries to China 20 Oct 2012 - 04:01 am

BEIJING/SEOUL: Iranian crude volumes received by China have been below contracted levels since September, because Iran’s tanker fleet, the sole transporter of its...

Most of Middle East’s FDI originated from GCC: Report 18 Oct 2012 - 07:37 am

Ernst & Young Area Managing Partner, Mark Otty addressing the opening session of the Growing Beyond Summit 2012 at Ritz-Carlton Doha yesterday. (Kammutty...

Saudi to award Jubail-Dammam rail contracts 17 Oct 2012 - 06:16 am

ABU DHABI: Saudi Arabia is expected to award contracts for construction of the planned 115km rail link between its industrial city of Jubail...

Zain Saudi’s Q3 net loss widens 17 Oct 2012 - 06:15 am

RIYADH: Telecoms operator Zain Saudi said its net loss widened by two percent in the third quarter, attributing the deterioration to lower revenue...

Weekly Money Market Review with IBQ: Central Bank liquidity battles poor global economic data 16 Oct 2012 - 03:22 am

Over the past couple of weeks, markets attention has been divided over major global subjects. Indeed, after the impressive equity markets rally we...

Iran denies fall in oil exports 14 Oct 2012 - 03:14 am

DUBAI: Iran’s oil exports have remained steady in recent months, Iran’s Opec governor said yesterday, denying a report from the International Energy Agency...

National Bank of Kuwait posts $814.4m net profit in nine months 14 Oct 2012 - 02:56 am

Kuwait City: National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of $814.4m...