Business / Middle East Business

Saudi retailer Alhokair eyes US, UK buys; plans debut sukuk 11 Mar 2014 - 01:24 am

DUBAI: Fawaz Abdulaziz Alhokair Co, the Saudi retailer which franchises brands such as Zara and Marks and Spencer in the kingdom, is studying...

Dubai trade growth slows down in 2013 10 Mar 2014 - 01:12 am

DUBAI: Dubai’s non-oil trade expanded 7.6 percent last year, slowing from 13 percent growth in 2012, but the emirate’s trade with Iran stabilised...

Iraq cuts April crude oil prices to US, Asia 10 Mar 2014 - 01:12 am

BAGHDAD: Iraq cut the price of Basra light crude to US buyers for April by 10 cents to 60 cents per barrel below...

Abu Dhabi signs $1bn loan pact with Serbia 07 Mar 2014 - 12:33 am

ABU DHABI: Serbia has signed an agreement for a $1bn loan from Abu Dhabi, the emirate’s Department of Finance said yesterday, boosting the...

Dubai World prepays $284.5m to creditors 06 Mar 2014 - 01:08 am

DUBAI: Dubai World, one of the emirate’s big state-owned conglomerates, has prepaid $284.5m to creditors under its $25bn debt restructuring plan, sources familiar...

Etisalat posts 70pc rise in Q4 net profit 05 Mar 2014 - 12:49 am

DUBAI: Etisalat, the United Arab Emirates’ biggest telecoms operator by revenue and subscribers, missed analysts’ forecasts with a 70 percent rise in fourth-quarter...

Mideast markets up, QE index dips 05 Mar 2014 - 12:49 am

Doha: Qatar Exchange ended in the red area yesterday when trading closed at 11,588.24 points, down 75.78 points, or 0.65 percent, from the...

Middle East to boost growth for SocGen 05 Mar 2014 - 12:49 am

DUBAI: Societe Generale (SocGen) aims to leverage its experience in structured and transport finance to grow its business in the Gulf, its regional...

Du gets $1.17bn in refinancing 05 Mar 2014 - 12:48 am

DUBAI: United Arab Emirates telecommunications firm du has borrowed $1.17bn in three separate deals to refinance existing debt and fund equipment purchases, the...

UAE business activity growth up in February 05 Mar 2014 - 12:48 am

DUBAI: Business activity growth in the United Arab Emirates’ non-oil private sector edged up in February from a three-month low in the previous...

Etihad profit up 48pc; Alitalia on radar 04 Mar 2014 - 01:04 am

Etihad Airways CEO James Hogan in Abu Dhabi yesterday. ABU DHABI: Etihad Airways’ Chief Executive said talks to pick an equity stake in...

Oman targets big rise in gas output 04 Mar 2014 - 12:51 am

MUSCAT: Oman expects a significant increase in its natural gas output over the next five years but little improvement in oil production, its...

Kuwait fines Ahli Bank chief over insider trade 04 Mar 2014 - 12:51 am

DUBAI/KUWAIT: A Kuwaiti court has fined the chairman of Al Ahli Bank, the country’s eighth largest bank by market capitalisation, KD1.5m ($5.3m) over...

Baghdad fair 03 Mar 2014 - 01:07 am

Cars from Toyota Motor Corporation are on display at the Baghdad International Fair for Defence and Security in the Iraqi capital. Representatives from...

UAE-led group to buy India power plants for $1.6bn 03 Mar 2014 - 01:01 am

ABU DHABI/NEW DELHI: A consortium led by Abu Dhabi National Energy Co (TAQA) has agreed to buy two Indian hydroelectric power plants from...

Egypt central bank keeps key rates on hold to boost growth 28 Feb 2014 - 06:18 am

CAIRO: Egypt’s central bank left official interest rates on hold yesterday, as it tries to stimulate an economy hurt by three years of...

Dubai denies reports on improper trading 28 Feb 2014 - 06:17 am

DUBAI: Dubai’s gold exchange and one of its biggest gold refineries have denied reports alleging they ignored international guidelines designed to prevent human...

Funds move money among Gulf markets 28 Feb 2014 - 06:17 am

DUBAI: Middle East fund managers remain bullish on most of the region’s major equity markets, but some are shifting money from the United...