Business / Middle East Business

Saudi firms fear new year gas price rise 21 Nov 2012 - 07:11 am

RIYADH: Some Saudi petrochemical producers fear a possible rise in the price they pay for gas will impact profits starting early next year,...

Positive movements in real estate market 20 Nov 2012 - 12:35 am

DUBAI: Kuwait’s Global Investment House will ask shareholders to approve delisting its shares from the bourse after failing to secure a regulatory waiver...

GIH seeks shareholder nod for bourse delisting 20 Nov 2012 - 12:32 am

DUBAI: Kuwait’s Global Investment House will ask shareholders to approve delisting its shares from the bourse after failing to secure a regulatory waiver...

Iraq industries attract growing investment 20 Nov 2012 - 12:28 am

BAGHDAD: Iraqi industry is beginning to shake off the legacy of years of violence and economic decline, with private investment in the sector...

Egypt to offer $1.5bn in treasury bills 20 Nov 2012 - 12:28 am

CAIRO: Egypt’s central bank said it would offer $1.5bn in one-year dollar-denominated treasury bills at a November 26 auction, rolling over bills maturing...

Saudi oil burning hits record high this year 20 Nov 2012 - 12:27 am

DUBAI: Saudi Arabia burned record volumes of crude oil over the summer, official government figures show, contrary to its aim of using more...

Emaar’s apartment sales jump in third quarter 19 Nov 2012 - 08:07 am

DUBAI: Emaar Properties’, revenue from apartments sales more than tripled in the third quarter, helping Dubai’s largest developer overcome a sharp decline in...

Oman to issue five-year $260m government bonds 18 Nov 2012 - 01:29 am

MUSCAT: Oman will issue five-year government development bonds worth 100m rials ($260m) at an annual interest rate of 3.25 percent, a statement from...

Barclays denies ‘illegal payment’ for Saudi licence 18 Nov 2012 - 01:26 am

DUBAI/JEDDAH: Barclays did not make any “illegal payment” to win a banking licence in Saudi Arabia, the bank said in a statement in...

Oil rises towards $109 17 Nov 2012 - 01:28 am

LONDON: Oil rose towards $109 a barrel yesterday as a showdown between Israel and the Palestinians stoked worries about supply, but ample stockpiles...

Investment recovering in Arab Spring economies 16 Nov 2012 - 01:58 am

DUBAI: When two real estate developers from the United Arab Emirates announced a big project in Egypt last month, it was more than...

Saudi Aramco inks deals for 400,000b/d Jizan plant 15 Nov 2012 - 08:08 am

KHOBAR: Saudi Aramco, the world’s biggest oil producer, signed deals yesterday worth an estimated $6bn to build a refinery in the impoverished region...

High yields are last hope for Bahrain stocks 15 Nov 2012 - 07:57 am

DUBAI: Bahrain’s stock market is the worst-performing in the region this year, but it has a major attraction: ultra-high dividend yields. Unfortunately, the...

Row over terms halts Iran-Turkmen gas supply 15 Nov 2012 - 07:55 am

DUBAI: Supplies of gas from Turkmenistan to Iran have been halted due to a dispute over purchasing terms, Iranian Oil Minister Rostam Qasemi...

Kuwait’s GIH says three creditors reject $1.7bn restructuring plan 14 Nov 2012 - 07:30 am

KUWAIT: Kuwait’s Global Investment House (GIH) said yesterday that three of its creditors had failed to back a $1.7bn debt restructuring plan and...

Crescent Petroleum to enter Libya, Lebanon 14 Nov 2012 - 07:29 am

DUBAI: United Arab Emirates-based Crescent Petroleum is gearing up for expansion in the Iraqi oil and gas sector and a debut into Libya...

First Gulf Bank signs $900m loan deal 14 Nov 2012 - 07:27 am

DUBAI: First Gulf Bank, the second-largest lender by market value in the United Arab Emirates, has signed a three-year $900m loan with a...

Sony launches interchangeable lens cameras 14 Nov 2012 - 07:24 am

By Satish Kanady DUBAI: Sony, the leading consumer electronics and entertainment brand, has unveiled three of its latest cameras: the Alpha SLT-A99, the...