Business / Middle East Business

EU blacklists 17 nations including UAE and Bahrain as tax avoidance havens 05 Dec 2017 - 06:51 pm

BRUSSELS: The European Union on Tuesday put 17 non-EU countries on a blacklist of those it deems guilty of unfairly offering tax avoidance...

Egypt's GASC buys 120,000 tonnes Russian wheat 28 Nov 2017 - 06:47 pm

DUBAI: Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Tuesday it had bought 120,000 tonnes of Russian wheat...

Turkish lira will normalise soon, Erdogan says 27 Nov 2017 - 04:18 pm

ANKARA, Nov 27 (Reuters) - Turkey's President Tayyip Erdogan said on Monday that an artificial inflation in exchange rates would normalise soon, after...

Monetary impact of Lebanon crisis limited: central bank governor 23 Nov 2017 - 01:28 pm

BEIRUT: Lebanon’s central bank governor Riad Salameh said on Thursday that the monetary impact of a political crisis in Lebanon was limited and...

Turkish lira tumbles to record low 22 Nov 2017 - 01:59 pm

LONDON: The Turkish lira hit a record low on Wednesday and local bond yields rose to fresh peaks on political strains and worries...

Iraq seeking 50,000 tonnes of wheat in tender 19 Nov 2017 - 02:27 pm

BAGHDAD: Iraq's Trade Ministry is seeking 50,000 tonnes of wheat in an international tender, it said on Sunday. The deadline for offers is...

Barclays names Klemme as Mideast head in Private Bank 01 Nov 2017 - 12:38 am

Barclays has announced that Steve Klemme (pictured) will be joining as Head of Middle East in Private Bank & Overseas Services. With over...

Copts call for action over church closures in southern Egypt 29 Oct 2017 - 07:37 pm

MINYA, Egypt: Coptic Christians in the south of Egypt renewed calls on local authorities for an end to discrimination, after a number of...

Lebanese central bank says pound stable, adds to forex reserves 25 Oct 2017 - 10:02 pm

BEIRUT: The Lebanese central bank has the foreign-currency reserves it needs to keep the pound stable against the U.S. dollar at its pegged...

Egypt says wheat reserves sufficient for 4 months 23 Oct 2017 - 05:51 pm

CAIRO: Egypt’s supply minister said on Monday the country has wheat reserves sufficient for four months and sugar reserves for 5.2 months. Egypt...

Inspection battle threatens Egypt’s wheat supply 20 Oct 2017 - 10:13 pm

CAIRO: Wheat shipments to Egypt, the world’s largest buyer, are being disrupted by a dispute involving government inspectors angered by a ban on...

What's at stake for business in Iran's nuclear deal 13 Oct 2017 - 08:52 pm

Paris: If the Iran nuclear deal fails then all the countries involved have a lot to lose -- and not just for political...

Air traffic congestion in GCC a growing concern: IATA 06 Oct 2017 - 12:00 am

Growing air traffic congestion in the GCC airspace is a pressing issue which can be a major hurdle for the growth and expansion...

Iraq central bank eases financial restrictions on Kurdistan region 04 Oct 2017 - 03:22 pm

BAGHDAD: Iraq's central bank on Wednesday eased financial restrictions imposed on the Kurdistan region, after receiving a cooperation pledge from Kurdish banks, an ...

Kuwait mulls swapping gas supplies with Iraq for compensations 04 Oct 2017 - 12:42 pm

Kuwait: Kuwaiti Minister of Oil Essam Al-Marzouq unveiled Tuesday that talks are going on between the Kuwaiti and Iraqi governments on the import...

Mashreq Bank shifts towards digital banking 02 Oct 2017 - 12:32 am

Dubai: Dubai’s Mashreq Bank, the emirate’s third largest lender by assets, plans to halve the number of its branches over the next three...

Lebanese government to announce solution to tax crisis on Friday 29 Sep 2017 - 12:18 am

BEIRUT: The Lebanese government will announce on Friday how it will resolve a legal dispute over taxes to fund a public-sector pay increase,...

Kuwait likely to approve law to enable 30-year bond issues: official 26 Sep 2017 - 11:36 pm

KUWAIT: Kuwait’s parliament is likely to approve a law to extend the country’s borrowing limits, enabling 30-year debt issues, a senior finance ministry...