Business / Middle East Business

Blackstone, investors buy stake in GEMS Education 16 Oct 2014 - 12:51 am

DUBAI: Dubai’s Fajr Capital said that it led a group including Blackstone and Bahrain sovereign fund Mumtalakat in acquiring a “significant minority stake”...

Iran ready to live with lower oil prices 15 Oct 2014 - 06:47 am

LONDON: Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi...

DLF faces tough choices after fund-raising ban 15 Oct 2014 - 06:42 am

NEW DELHI/MUMBAI: DLF Ltd will be forced to sell assets, even unfinished projects, to meet debt obligations, say bankers, after India’s biggest property...

Opec unlikely to cut output: Kuwait minister 12 Oct 2014 - 11:57 pm

DUBAI/KUWAIT: Opec is unlikely to cut oil production in an effort to prop up prices because such a move would not necessarily be...

UAE approves 2015 budget without deficit 12 Oct 2014 - 11:56 pm

ABU DHABI: The United Arab Emirates approved its 2015 budget yesterday, projecting no deficit and increased income and public spending as the oil-rich...

Saudi tells Opec it raised output in September 11 Oct 2014 - 12:46 am

LONDON: Top oil exporter Saudi Arabia told Opec it raised its oil production in September by 100,000 barrels per day, adding to signs...

Bahrain bourse preparing Islamic product range 09 Oct 2014 - 01:27 am

Manama: Bahrain’s stock exchange plans to launch a range of Islamic investment products, including a novel equity-based murabaha financing tool and Islamic real...

Turkey slashes growth estimates 09 Oct 2014 - 01:23 am

ANKARA: Turkey has slashed its growth estimates and raised its inflation forecast for 2014 and 2015, Deputy Prime Minister Ali Babacan said yesterday,...

GSK probing corruption in UAE 08 Oct 2014 - 01:12 am

LONDON: Drugmaker GlaxoSmithKline, which was slapped with a record $489m fine for corruption in China last month, said yesterday it was looking into...

Walt Disney rescues Euro Disney with $1.3bn 07 Oct 2014 - 04:00 am

Disney character Mickey posing in front of the Sleeping Beauty Castle at Disneyland park, in Chessy, near Marne-la-Vallee, outside Paris. LONDON/PARIS: Walt Disney...

GCC equity market projected to remain positive 03 Oct 2014 - 02:57 am

DOHA: Driven by the region’s BIG 3 — Qatar, Saudi Arabia and UAE — the GCC equity market will remain overweight for the...

Saudi’s NCB to raise $6bn in IPO 03 Oct 2014 - 02:56 am

DUBAI: Saudi Arabia’s National Commercial Bank plans to raise SR22.5bn ($6bn) in a flotation this month, it said, the biggest ever share sale...

Kuwait in talks with five oil firms to develop major fields 03 Oct 2014 - 02:55 am

DUBAI: Kuwait is in talks with five major oil companies to help boost crude production and develop some of its oilfields including Burgan,...

NBK sells 30pc stake in IBQ for $538m 03 Oct 2014 - 02:55 am

DUBAI: National Bank of Kuwait has sold its 30 percent stake in unlisted International Bank of Qatar for 155m dinars ($538m) after being...

Mena digital universe to grow by over 600pc 02 Oct 2014 - 02:03 am

Doha: The digital universe in the Middle East and North Africa (Mena) will grow from 249 exabytes in 2014 to 1835 exabytes by...

Egypt Qalaa eyes $560m capital boost 02 Oct 2014 - 12:36 am

CAIRO: Egypt’s Qalaa Holding is considering a share issue worth some 4bn pounds ($560m) as part of efforts to tighten control of its...

Dubai Investment Corp seeks more business with Africa’s Dangote 02 Oct 2014 - 12:35 am

DUBAI: Investment Corporation of Dubai (ICD) is exploring further investment opportunities with African conglomerate Dangote Group, the chief executive of the emirate’s fund...

Sisi makes fast start on reforms 01 Oct 2014 - 09:44 am

CAIRO: In his first 100 days in office, Egyptian President Abdel Fattah Al Sisi has made a fast start on economic reform: slashing...