Business / Middle East Business

West Bank growth shrinks first time in a decade 09 Oct 2013 - 02:30 am

RAMALLAH, West Bank: The Palestinian economy in the Israeli-occupied West Bank shrank for the first time in a decade in the first half...

Beyond Success Award for Al Muftah 09 Oct 2013 - 02:22 am

Al Muftah Rent a Car was honoured with “Beyond Success Award” by Confederation of World Businesses (Worldcob), Houston. Dr Ziad Usman, Assistant General...

Turkish bond yields dip amid strong debt auction demand 09 Oct 2013 - 02:11 am

ISTANBUL: Turkish bond yields fell yesterday amid strong demand for a series of government debt auctions while stocks were broadly flat, awaiting a...

Taqa gets Kurdistan oil field all clear 08 Oct 2013 - 01:15 am

DUBAI: Abu Dhabi National Energy Company (Taqa) has received approval from the Kurdistan Regional Government (KRG) to develop the Atrush Block in the...

Oman’s AMIC plans IPO as part of conversion into takaful firm 08 Oct 2013 - 01:15 am

DUBAI: Oman’s Al Madina Insurance Co (AMIC) plans to list its shares on the local bourse as part of its transformation into a...

Majnoon oil output reaches milestone 07 Oct 2013 - 02:57 am

A worker walks through the Majnoon oil field in Basra, 420km southeast of Baghdad, yesterday. BAGHDAD: Production from Iraq’s Majnoon oilfield, run by...

$100-110 oil price acceptable, says Kuwait minister 07 Oct 2013 - 02:56 am

KUWAIT CITY: Kuwaiti Oil Minister Mustafa Al Shamali said that an oil price of between $100 to $110 per barrel is acceptable to...

Diversification to fuel rapid growth in GCC 07 Oct 2013 - 02:24 am

DUBAI: According to EY’s most recent Rapid-Growth Markets (RGMs) Forecast, the GCC can expect to see robust economic growth over the medium term...

Ajman Bank sacks chief executive 07 Oct 2013 - 01:14 am

DUBAI: Ajman Bank has sacked its Chief Executive Mohammed Zaqout, less than six months after appointing him to lead the United Arab Emirates’...

Dubai aims to be Islamic business hub 06 Oct 2013 - 01:08 am

DUBAI: Dubai unveiled plans yesterday to become a centre for business that follows Islamic principles in areas from banking and insurance to food...

UAE bourses hire advisers for merger 03 Oct 2013 - 12:42 am

ABU DHABI/DUBAI: Abu Dhabi and Dubai have hired banks to advise on a possible merger of their two main stock exchanges, a state-backed...

Libyan oil exports back in days, says minister 03 Oct 2013 - 12:23 am

LONDON: Libya’s oil exports could return to full capacity in days once strikes in the restive east end, its oil minister said yesterday...

Oman cuts interest cap on personal loans to 6pc 03 Oct 2013 - 12:08 am

DUBAI: Oman’s central bank yesterday cut the ceiling on interest rates that commercial banks can charge on new personal loans to 6 percent...

Bank lending to Saudi private firms up 15pc 03 Oct 2013 - 12:01 am

RIYADH: High loan growth to the private sector in Saudi Arabia is likely to continue in the next two to three years as...

Bahrain growth shrinks in Q2 as financial sector weighs 02 Oct 2013 - 11:51 pm

DUBAI: Bahrain’s economy shrank 0.3 percent from the previous quarter in the April-June period, its first quarterly drop in a year, largely because...

Egypt economy to miss govt growth forecast, says survey 02 Oct 2013 - 12:01 am

CAIRO: Egypt’s economy will only grow 2.6 percent in the fiscal year ending June 2014, well below the 3.5 percent the government expects...

Iraq southern oil exports average down in September 01 Oct 2013 - 11:34 pm

BASRA: Iraq’s southern oil exports averaged 1.821 million barrels per day (mbpd) in September, down from 2.308 million bpd in August due to...

Almarai prices corporate hybrid sukuk 01 Oct 2013 - 12:51 am

Riyadh: Saudi Arabian dairy producer Almarai has completed the first hybrid bond offer by a corporation in the Gulf, selling a SR1.7bn ($453.2m)...