Business / Middle East Business

Etihad to take 24pc stake in Jet Airways in $379m deal 25 Apr 2013 - 01:27 am

MUMBAI/DUBAI: Fast-growing Etihad Airways is taking almost a quarter stake in India’s Jet Airways , giving it a bigger foothold in the fast-growing...

Iran parks millions of oil barrels on tankers as buyers retreat 25 Apr 2013 - 01:27 am

LONDON: Iran is storing millions of barrels of oil on tankers in its territorial waters as Tehran struggles with tougher Western sanctions on...

Ethiopian Airlines set to resume Dreamliner flights 25 Apr 2013 - 01:21 am

ADDIS ABABA: Ethiopian Airlines is set to become the world’s first carrier to resume flying Boeing Co’s 787 Dreamliner passenger jets, with a...

Gulf bond issuance to hit $37bn this year 24 Apr 2013 - 03:26 am

DUBAI: Total US dollar-denominated bond issues from the six Gulf Cooperation Council (GCC) countries are expected to hit $37bn in 2013, dominated by...

Egypt sees 3.8pc growth this fiscal 24 Apr 2013 - 03:25 am

CAIRO: Egypt said its economy will grow by 3.8 percent in the fiscal year starting in July as ministers outlined the 2013/14 budget...

Dubai flights rely on fuel refined from Iranian oil 24 Apr 2013 - 03:21 am

DUBAI: Fuel made from Iranian oil is legally powering thousands of flights a year out of Dubai’s booming airport, despite US pressure on...

HSBC reviewing Iraq operations 22 Apr 2013 - 06:17 am

DUBAI: HSBC Holdings is reviewing its operations in Iraq while continuing to invest in Egypt despite a challenging near-term environment there, the bank’s...

Tehran exhibition 21 Apr 2013 - 04:12 am

Visitors at the 18th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran yesterday.

Regulations stymie funds in Mideast 18 Apr 2013 - 12:51 am

DUBAI: Across much of the Middle East, economic growth is strong and financial markets are picking up. But there is surprisingly little cheer...

Turkish Airlines seals $9.3bn deal with Airbus 18 Apr 2013 - 12:50 am

ISTANBUL: Turkish national flag-carrier Turkish Airlines (THY) signed yesterday a gigantic deal for up to 117 planes with European manufacturer Airbus in a...

No word from regulator on QInvest deal: EFG 17 Apr 2013 - 06:35 am

CAIRO: EFG-Hermes, the Middle East’s largest investment bank, said yesterday that it had not received notification from Egypt’s financial regulator of clearance for...

3.4m jobless in Egypt 17 Apr 2013 - 06:28 am

CAIRO: Egypt’s jobless rate rose to 12.7 percent in 2012 from 12 percent in 2011 and nine percent in 2010, due to the...

Oman to build, pay for huge oil storage site 16 Apr 2013 - 01:08 am

MUSCAT: Oman is committed to building, and paying for, a huge facility to store up to 200 million barrels of crude oil at...

Aramco starts up Manifa oilfield 16 Apr 2013 - 01:03 am

KHOBAR: Saudi Aramco has started pumping oil from its giant Manifa field in the Gulf, allowing the world’s biggest oil exporter to relax...

Senior Goldman Sachs banker resigns 16 Apr 2013 - 01:02 am

DUBAI: Khaled Eldabag, a senior investment banker at Goldman Sachs Group Inc who handled some of the Wall Street firm’s biggest clients in...

Egypt stalls on IMF terms 15 Apr 2013 - 01:05 am

CAIRO: Egypt is stalling on the terms of a $4.8bn International Monetary Fund loan to help it fight a deepening economic crisis, and...

Dubai Islamic Bank profit jumps 17pc 15 Apr 2013 - 12:58 am

DUBAI: Dubai Islamic Bank (DIB), the largest Shariah-compliant lender in the emirate, said yesterday that its first-quarter net profit climbed 17 percent, after...

Dubai housing stock to bounce back 15 Apr 2013 - 12:58 am

DUBAI: Another 40,000 new homes will enter Dubai’s property market over the next two years as developers revive projects stalled after the collapse...