Business / Middle East Business

Israel in talks for $15bn Jordan gas supply 03 Sep 2014 - 11:29 pm

TEL AVIV: Israel is in advanced negotiations to supply natural gas from its vast Leviathan field to Arab peace partner Jordan under a...

Volpe named Infiniti Global Director for Formula One 03 Sep 2014 - 11:28 pm

Dubai: Infiniti has appointed Tommaso Volpe its new Formula One Global Director, effective September 1, 2014. Volpe will be responsible for Infiniti’s entire...

Toyota sells over 350,000 in Mideast in first half 03 Sep 2014 - 11:28 pm

Doha: Toyota yesterday announced a steady growth in sales in the Middle East (GCC, Yemen, Lebanon, Jordan and Iraq) selling 356,805 units in...

New screening method for sukuk compliance 02 Sep 2014 - 10:42 pm

Dubai: A new screening method for sukuk (Islamic bonds), developed in cooperation with Saudi Arabian financial institutions, aims to reduce the cumbersome approval...

Ooredoo to add pre-paid customers in Myanmar 01 Sep 2014 - 10:56 pm

DUBAI: Ooredoo will focus on adding more pay-as-you-go subscribers in Myanmar a few weeks after it launched operations, the unit’s CEO said yesterday,...

Sharjah to hold investor meeting 01 Sep 2014 - 10:18 pm

DUBAI: The Gulf Arab emirate of Sharjah will arrange investor meetings this week and next in Asia, the Middle East and Europe ahead...

Egypt keeps key interest rates unchanged 01 Sep 2014 - 10:17 pm

CAIRO: Egypt’s central bank kept its overnight deposit and lending rates at 9.25 percent and 10.25 percent respectively yesterday, as widely expected given...

Meraas seeks up to $4bn loan 01 Sep 2014 - 10:14 pm

DUBAI: Meraas Holding, a state-owned property firm that is developing some of Dubai’s most ambitious real estate projects, is in talks with banks...

ENBD eyes bond sale to boost capital 01 Sep 2014 - 10:14 pm

DUBAI: Emirates NBD (ENBD), Dubai’s largest lender, plans to sell a benchmark-sized capital-boosting bond, a document from lead managers said yesterday, looking to...

Viva Kuwait aims to list by year-end 01 Sep 2014 - 10:04 pm

DUBAI: Viva Kuwait, the country’s second biggest mobile phone operator by subscribers, plans to list on the Kuwait Stock Exchange by year-end, nearly...

Emaar to launch malls unit IPO in September 31 Aug 2014 - 11:10 pm

DUBAI: Emaar Properties will launch its highly anticipated initial public offer of at least 15 percent of its shopping malls and retailing unit...

UAE to provide Egypt with $8.7bn petroleum products 31 Aug 2014 - 11:07 pm

CAIRO: The United Arab Emirates will provide Egypt with petroleum products worth $8.7bn over a year starting in September, an Egyptian official said...

Batelco seeks $212m from former Indian partner 31 Aug 2014 - 11:06 pm

DUBAI: Batelco will pursue its former Indian business partner for $212m it says he owes the company, even though he was declared bankrupt...

Bahrain to meet investors ahead of sovereign bond 28 Aug 2014 - 10:08 pm

DUBAI: Bahrain has chosen four banks to arrange investor meetings before a potential long-dated sovereign bond issue, said a document on Tuesday from...

DP World H1 profit up 26pc 28 Aug 2014 - 10:07 pm

DUBAI: DP World, one of the world’s largest port operators, reported a 26 percent rise in net profit for the first half of...

Libya’s oil recovery may be short-lived as risk remains 27 Aug 2014 - 10:13 pm

CAIRO: A comeback by Libya’s oil industry may be short-lived as a confrontation between armed groups risks splitting the country three years after...

Former CEO of Arabtec in talks to sell stake to Aabar Investments 27 Aug 2014 - 10:09 pm

DUBAI: A former chief executive of major Dubai construction firm Arabtec said he was in talks on selling some of his stake to...

Kuwait replaces head of market regulator 26 Aug 2014 - 10:08 pm

KUWAIT: Kuwait is replacing the head of its securities regulator after a stormy four years during which he drew criticism from some investors...