Business / Middle East Business

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 ...

Iraqi PM Abadi's nominee as oil minister withdraws candidacy 02 Apr 2016 - 12:00 am

The nominee for the oil minister in Iraqi Prime Minister Haider al-Abadi's upcoming cabinet, Nizar Saleem Numan said on Friday he is no...

Iraqi appeals court upholds $187 mln Zain Iraq tax ruling 31 Mar 2016 - 03:37 pm

DUBAI: An Iraqi appeals court has upheld a ruling that obliged the local unit of Kuwait's Zain to pay a $187 million tax...

Tunisia tourism revenue hit hard by last year's attacks 31 Mar 2016 - 03:25 pm

TUNIS: Tunisia's central bank said on Thursday tourism revenue in first two months in 2016 fell by 54 percent to 182 million dinars...

Emirates starts Dubai-Cebu daily service 31 Mar 2016 - 10:59 am

Badr Abbas, Emirates Senior Vice President, Commercial Operations Far East (fifth right), along with Joseph Emilio A Abaya, Secretary of the Philippines’ Department...

Turkish economy grew 4 percent in 2015, 5.7 pct in Q4: stats institute 31 Mar 2016 - 10:12 am

ISTANBUL: Turkey's economy grew 4 percent in 2015, official data showed on Thursday, topping the 3.9 percent annual growth forecast in a Reuters...

Ooredoo Kuwait buys 100% shares of FASTtelco 30 Mar 2016 - 02:04 pm

Doha: Qatar's first telecom operator with multi-national operations Ooredoo has said that its subsidiary Ooredoo Kuwait acquired 100 per cent stake in FASTtelco,...

Thousands of jobs at risk as India’s Tata Steel seeks British exit 30 Mar 2016 - 12:26 pm

A general view shows the Tata steelworks in Port Talbot, Wales, Britain March 30, 2016. REUTERS/Rebecca Naden By Kate Holton and Promit Mukherjee...

Turkish firms in Russia struggle as diplomatic row rages 30 Mar 2016 - 09:49 am

A man passes by police officers standing guard near the Turkish embassy in Moscow, Russia, March 24, 2016. Picture taken March 24, 2016....

Bahrain's Nogaholding secures $570 million Islamic loan 30 Mar 2016 - 09:29 am

The funding will support investment in oil and gas projects in the kingdom. Dubai: Nogaholding, the holding company for oil and gas assets...

Saudi Arabian regulator approves Yamamah Steel IPO 29 Mar 2016 - 12:00 am

DUBAI: Saudi Arabia’s Capital Market Authority has approved an initial public offer of shares in Al Yamamah Steel Industries Co, the regulator said...

Egypt's Banque Misr in talks for 300 mln euro syndicated loan 28 Mar 2016 - 12:21 pm

File picture for representation CAIRO: Egypt's second-largest state bank, Banque Misr, is in talks with a foreign financial institution for a 300 million...