Business / Middle East Business

UAE's First Gulf Bank Q1 net profit falls 6 pct on lower fee income 27 Apr 2016 - 03:59 pm

DUBAI: First Gulf Bank on Wednesday posted a 6 percent fall in first-quarter net profit as income from fees and commission slipped. The...

Cengiz in talks with Russia's Rosatom to buy nuclear plant stake 27 Apr 2016 - 02:02 pm

ANKARA: Turkish construction firm Cengiz is in talks about buying up to 49 percent of the $20 billion Akkuyu nuclear power plant being...

Etihad Airways 2015 profit hits $103 mn 27 Apr 2016 - 01:55 pm

Abu Dhabi: Etihad Airways said on Wednesday its net profit for 2015 surged 41 percent to $103 million on the back of rising...

Saudi Aramco appoints new vice presidents 27 Apr 2016 - 11:34 am

KHOBAR, Saudi Arabia: Saudi Aramco made new appointments to its executive ranks at its board meeting last week in Japan, while reappointing president...

Etisalat sees 8% profit drop in Q1 26 Apr 2016 - 03:22 pm

Abu Dhabi: UAE telecom giant Etisalat said Tuesday that its net profit dropped by eight percent to two billion dirhams ($545 million) in...

Dubai airport passenger traffic rises 7.4 pct y/y in March 26 Apr 2016 - 02:22 pm

DUBAI: Passenger numbers at Dubai International Airport, the world's busiest airport for international travel, rose 7.4 percent in March from a year earlier...

Gulf Air to launch direct flights to Dhaka from May 30 26 Apr 2016 - 02:58 am

Doha: Gulf Air yesterday announced its planned return to Dhaka, Bangladesh from May 30. The airline will soon launch direct flights between Bahrain...

Iraq's southern oil exports hit record high so far in April 25 Apr 2016 - 05:19 pm

By Alex Lawler LONDON, April 25 (Reuters) - Oil exports from southern Iraq have reached a record monthly rate so far in April...

Saudi Arabia to sell less than 5% of Aramco, create $2 trillion fund 25 Apr 2016 - 02:35 pm

Al Arabiya interview. Riyadh: Saudi Arabia will sell shares in state oil giant Aramco and set up the world's largest wealth fund under...

Saudi investment fund will turn kingdom into a global player: Mohammed bin Salman 25 Apr 2016 - 02:32 pm

Screenshot from Alarabiya Tv Channel. RIYADH: Saudi Arabia's new investmentfund will turn the world's top oil exporter into a globalinvestment power, Deputy Crown...

Less than 5% of Aramco to be sold: Mohammed bin Salman 25 Apr 2016 - 02:19 pm

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman reacts upon his arrival at the Elysee Palace in Paris, France, June 24, 2015. REUTERS/Charles...

Saudi Cabinet approves vast economic reform plan 25 Apr 2016 - 02:01 pm

Riyadh: The Saudi government on Monday approved a plan for vast economic reforms dubbed "Saudi Vision 2030" to substantially reduce the OPEC kingpin's...

IMF urges Gulf states to adapt to lower oil prices 25 Apr 2016 - 08:51 am

File picture of IMF regional chief Masood Ahmed. Reuters Dubai: The International Monetary Fund forecast Monday economic growth in the six-nation Gulf Cooperation...

Dubai’s GEMS Education to raise $250 million for expansion 25 Apr 2016 - 12:00 am

By Arif Sharif and Matthew Martin GEMS Education, one of the world’s biggest operators of private schools, raised a $250 million loan to...

Emirates' Antinori declines Air France-KLM CEO position 24 Apr 2016 - 06:55 pm

Thierry Antinori (file photo/reuters) By Deena Kamel Yousef Emirates’ Chief Commercial Officer Thierry Antinori declined an offer to be chief executive officer at...

Iraq signs strategic agreement with GE to boost power grid 24 Apr 2016 - 05:32 pm

BAGHDAD: Iraq's Oil Ministry said on Sunday it had signed a long-term "strategic framework agreement" with General Electric which comprised several projects to ...

Dubai's troubled Arabtec hires AlixPartners for review - sources 24 Apr 2016 - 03:48 pm

DUBAI/ABU DHABI: - Loss-making Dubai contractor Arabtec's board has hired restructuring advisory firm AlixPartners to help it strengthen its capital structure and reform...

National Bank of Kuwait gets regulatory nod for capital raise 24 Apr 2016 - 09:45 am

DUBAI: National Bank of Kuwait said on Sunday it had received approval from the country's Capital Markets Authority for its proposed capital increase....