Business / Middle East Business

Riyad Bank Q1 net profit flat from previous year 13 Apr 2016 - 03:38 pm

DUBAI: Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a 0.2 rise in first-quarter net profit on Wednesday, ahead of analysts' forecasts....

Emirates orders two more Airbus A380s 13 Apr 2016 - 02:24 pm

Dubai: Dubai's Emirates airline said Wednesday it had ordered two more Airbus A380 planes, raising the carrier's total orders for the superjumbo aircraft...

Emaar Properties says to reorganise India unit through demerger 13 Apr 2016 - 02:14 pm

DUBAI: Dubai's Emaar Properties plans to reorganise its Indian business through a demerger, the emirate's biggest property developer said in a bourse statement...

Turkish central banker is social scientist with roots in Islamic finance 12 Apr 2016 - 06:37 pm

Murat Cetinkaya at Euromoney Eurasia Forum, June 3, 2014. Turkey has appointed Murat Cetinkaya, a deputy central bank governor, to be the new...

US planemaker Boeing discusses sales in Iran 12 Apr 2016 - 12:00 am

The Boeing logo at Chicago headquarters. Reuters / Jim Young DUBAI: A delegation from Boeing has visited Iran to discuss sales of jetliners,...

GCC states set to borrow up to $390 bn by 2020: Report 10 Apr 2016 - 03:54 pm

Kuwait City: The oil-rich Gulf states are expected to borrow between $285 billion and $390 billion through 2020 to finance budget deficits resulting...

Egypt's March urban consumer price inflation eases to 9 pct: statistics agency 10 Apr 2016 - 08:59 am

Cairo: Egypt's annual urban consumer price inflation eased slightly to 9 percent in March from 9.1 percent in February, the official statistics agency...

Iran says Boeing officials will visit Tehran soon 09 Apr 2016 - 02:51 pm

TEHRAN, Iran: Iran said Saturday that the United States has allowed Boeing to have direct talks with Iranian airliners following reports that a...

Egypt bans trading imported wheat inside country without permission -ministry 06 Apr 2016 - 11:41 am

CAIRO: Egypt has banned the trading of imported wheat inside the country as well as its delivery to local mills except with official...

Oman raises limit for banks’ government bond holdings: Sources 06 Apr 2016 - 11:00 am

By Archana Narayanan and Fatma Alarimi DUBAI: Oman’s central bank has increased the maximum amount of government securities which banks can hold to...

UAE conglomerate Al Jaber misses payment on $4.5 bln restructured debt -sources 05 Apr 2016 - 11:55 am

By David French and Tom Arnold DUBAI: Al Jaber Group missed a March repayment on its $4.5 billion restructuring, three sources aware of...

Iraq's food business booms despite war, economic slump 05 Apr 2016 - 09:22 am

An Iraqi shepherd herds sheep in a cemetery on the banks of the Tigris River in the village of Wana some 10 kms...

Saudi's Almarai wins shareholder approval for capital increase-statement 04 Apr 2016 - 09:22 am

DUBAI: Saudi Arabia's Almarai Co, the largest dairy company in the Gulf, said on Monday shareholders approved a capital increase for the company...

Iran oil, gas condensate exports reach 2 mbpd - Shana 03 Apr 2016 - 12:27 pm

DUBAI: Iran's oil and gas condensate exports have reached 2 million barrels per day, the oil minister was quoted as saying by the...

Saudi's Tasnee says ilmenite project to start production in H1 2017 03 Apr 2016 - 10:09 am

KHOBAR, Saudi Arabia: Saudi Arabia's National Industrialization Company (Tasnee) expects an ilmenite smelter project in the southern city of Jizan to start commercial...

Saudi's Bahri says secures 1.43 bln riyal Islamic loan for five VLCCs 03 Apr 2016 - 09:08 am

Image for representation DUBAI: National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued...

Libyan oil firm NOC says will work with new unity government to rebuild economy 02 Apr 2016 - 03:04 pm

The building housing Libya's oil state energy firm, the National Oil Corporation (NOC), is seen in Tripoli, Libya February 22, 2016. Reuters/Ismail Zitouny ...