Business / Middle East Business

Oil market is stabilising, $60 is OK for now: Gulf Opec delegate 25 Feb 2015 - 02:18 am

RIYADH: Oil prices have started to stabilise around current levels of $60 a barrel and demand is showing signs of improving in Asia...

Turkey central bank prunes rates after Erdogan pressure 24 Feb 2015 - 03:40 pm

Ankara - Turkey's central bank on Tuesday announced a 25 basis points cut in its headline interest rate, following months of pressure from...

UAE armed forces sign Dh9.5 billion worth of defence contracts 23 Feb 2015 - 10:12 pm

ABU DHABI: The UAE armed forces announced Dh9.5 billion worth of orders for ships, satellites and armoured vehicles at the International Defence Exhibition...

Gulf Air crew get inflight sales person award 22 Feb 2015 - 12:38 am

Gulf Air cabin crew members with other officials after winning the awards. Doha: The Kingdom of Bahrain’s national carrier, Gulf Air, was recently...

Palestinian farms break new ground with ostrich and mushrooms 20 Feb 2015 - 03:23 pm

Dar Salah, Palestinian Territories - The small farm in the southern West Bank seems unremarkable, but for one thing. Instead of the sheep...

Gulf markets consolidate; Qatar index drops 0.4pc 18 Feb 2015 - 01:43 am

DUBAI: Gulf stock markets consolidated yesterday after seesawing in line with oil prices over the last few days, while Egypt pulled back further,...

Gulf states in talks on value-added tax: Official 16 Feb 2015 - 01:30 am

ABU DHABI: Gulf states are pursuing discussions on plans to introduce value-added tax (VAT) in the region, with a meeting scheduled later this...

Dubai property giant Emaar's 2014 profit rises 28% 15 Feb 2015 - 06:00 pm

Dubai--Dubai-based developer Emaar Properties Sunday reported increases in its net profits last year and the fourth quarter on the back of robust performance...

Opec strategy pays off; high demand seen 14 Feb 2015 - 12:55 am

LONDON: The world’s three big energy agencies are forecasting higher demand for Opec’s crude oil this year, a sign the producing nations’ strategy...

Lulu opens 113th branch 14 Feb 2015 - 12:47 am

Abdullah S Alenezi, Undersecretary at the Ministry of Commerce & Industry of Kuwait, inaugurating the 113th Lulu Hypermarket in Al Salam Mall in...

Gulf Air, Batelco extend partnership agreement 09 Feb 2015 - 12:53 am

Gulf Air and Batelco have extended their partnership agreement to enhance benefits for Batelco’s Al Dana customers. Members of Batelco Al Dana Club,...

Gulf Air completes retrofit of A330 fleet 28 Jan 2015 - 01:31 am

Gulf Air yesterday hosted media members on an exclusive tour of its newly retrofitted Airbus A330 aircraft – upgraded with fully-flat bed seats...

UAE remittances: Who sends home the most money? 26 Jan 2015 - 09:19 pm

Expatriates crowd an exchange house to send money home Rising US dollar drives remittances from UAE Fuelled by the strengthening of the dollar...

DIB net profit rises 64.1pc, hikes dividend 26 Jan 2015 - 12:19 am

DUBAI: Dubai Islamic Bank (DIB), the United Arab Emirates’ largest Sharia’h-compliant lender, posted a 64.1 percent increase in fourth-quarter net profit yesterday, as...

Nuaimi to stay as Saudi oil minister 24 Jan 2015 - 02:55 am

DUBAI: The Custodian of the Two Holy Mosques King Salman bin Abdulaziz of Saudi Arabia was quick to keep veteran Oil Minister Ali...

Dubai's Nakheel posts 43% surge in 2014 profits 21 Jan 2015 - 08:39 pm

Dubai - Dubai real estate giant Nakheel, hit badly during the global debt crisis, said Wednesday its profits surged 43 percent on year...

Oil export losses to reach $300 billion in Middle East 21 Jan 2015 - 05:11 pm

WASHINGTON -- Losses from lower oil exports should sap up to $300 billion from economies in the Middle East and Central Asia this...

Oil prices have reached 'bottom 21 Jan 2015 - 01:52 pm

Iraqi Oil Minister KUWAIT CITY,--Iraqi Oil Minister Adel Abdul Mahdi predicted Wednesday that world prices would not fall much further after a plunge...