Business / Middle East Business

Saudi Butanol plant starts operations 27 Mar 2016 - 10:55 am

File photo/ Reuters KHOBAR: Saudi Butanol Co (SABUCO), a joint venture of local petrochemicals firms, has started commercial operations at its plant in...

Oman to increase air traffic fees in state revenue push 27 Mar 2016 - 09:41 am

MUSCAT: Oman’s Public Authority for Civil Aviation (PACA) will raise fees charged for air traffic through the sultanate, the authority’s chief executive Mohammed...

Syrian pound falls below 500 per dollar 24 Mar 2016 - 05:08 pm

The Syrian pound fell to a record low below 500 to the dollar on the black market on Thursday, driven down by doubts...

Turkish tourism and economy struggle due to bombings, Russia chill 24 Mar 2016 - 12:00 am

Istiklal street, a major shopping and tourist district as seen immediately after a suicide bombing in central Istanbul, Turkey. March 19, 2016. REUTERS,...

Saudi Aramco starts producing gas at offshore Hasbah field 23 Mar 2016 - 01:08 pm

KHOBAR: State oil company Saudi Aramco has started producing natural gas at the offshore Hasbah field, it said in its weekly magazine The...

Telco Zain Saudi weighs sale or joint ownership of telco towers 23 Mar 2016 - 11:15 am

RIYADH: Telecommunications operator Zain Saudi is considering ideas for the sale or joint ownership of its mobile transmitter towers, its chief executive said...

Tanzania searches for “ghost workers” on public sector payroll 22 Mar 2016 - 01:01 pm

DAR ES SALAAM: Tanzanian authorities have launched a national audit to find “ghost workers” and remove them from civil service payrolls under a...

Saudi economy to continue growing, albeit slower than last year: Finmin 22 Mar 2016 - 11:51 am

Saudi skyline (file photo / Reuters) RIYADH: Saudi Arabia's economy is expected to continue growing in 2016, albeit at a slower rate than...

Dubai Islamic Bank gives guidance for sukuk pricing on Tues: Leads 22 Mar 2016 - 11:01 am

DUBAI: Dubai Islamic Bank (DIB) is expected to price a dollar-denominated sukuk of benchmark size as soon as Tuesday after releasing initial price...

Saudi bourse appoints Hussan as chief executive: CMA statement 22 Mar 2016 - 10:14 am

DUBAI: The board of Saudi Arabia's stock market has formally appointed Khalid Abdullah al-Hussan as chief executive effective from Mar. 21, according to...

Turkish presidential aide says interest rates should ‘definitely’ be lowered 21 Mar 2016 - 11:48 am

ISTANBUL: Turkey’s interest rates should ‘definitely’ be lowered and the interest rate corridor must be narrowed from the top downwards, an aide to...

Egyptian pound weakens on black market despite central bank's efforts 21 Mar 2016 - 12:00 am

The Egyptian pound weakened on the black market despite central bank moves to close the gap between dollar demand and supply by pumping...

Saudi offers $1.5 bn to fund Egypt's Sinai projects 21 Mar 2016 - 12:00 am

Cairo: Egypt said on Sunday that Saudi Arabia has offered $1.5 billion to help finance economic projects in the Sinai Peninsula, as Riyadh...

UAE's Arabtec says wins 1.7 bln dhs gov't contract 20 Mar 2016 - 02:02 pm

DUBAI: Dubai-listed Arabtec has won a 1.7 billion dirhams ($462.85 million) contract from the UAE federal government to build 1,100 houses in the...

Oman not yet invited to Doha oil producers meeting: Minister 20 Mar 2016 - 10:49 am

MUSCAT: Oman has not yet been invited to a meeting in Qatar on April 17 at which oil producers plan to discuss a...

Iran to discuss economic cooperation in Turkey visit: Iranian foreign minister 19 Mar 2016 - 11:34 am

Iranian Foreign Minister Mohammad Javad Zarif. Reuters ISTANBUL: Iran wants to discuss greater economic cooperation with neighbouring Turkey in talks in Istanbul on...

Abu Dhabi fund signals committed to Brazilian investments 19 Mar 2016 - 12:00 am

DUBAI: Abu Dhabi state fund Mubadala Development signalled on Friday that it was committed to investments in Brazil despite political protests, economic crisis...

Oman's Galfar wins $299 mln construction project 16 Mar 2016 - 09:55 am

The Galfar headquarters in Ghala. (Source: Muscat Daily) DUBAI: Oman's Galfar Engineering has been awarded a 115 million rials ($299.21 million) construction contract...