Business / Middle East Business

UAE says not worried by Shell pullout from joint Bab Sour project 18 Jan 2016 - 03:23 pm

United Arab Emirates Energy Minister Suhail bin Mohamed al-Mazroui, speaks during the 7th Gulf Intelligence UAE Energy Forum meeting in Abu Dhabi, on...

Saudi’s SABIC says can cope with more petrochemicals competition 18 Jan 2016 - 01:12 pm

RIYADH: Saudi Basic Industries Corp (SABIC) can adapt to any new petrochemicals supply entering the market from outside the kingdom, its acting chief...

Qatar stocks plunge to multi-year lows on panic 18 Jan 2016 - 12:30 am

By Satish Kanady DOHA: Qatari stocks plunged to a multi-year lows yesterday, triggered by oil-induced sell off. All seven sector indexes tumbled as...

Saudi’s Naimi says optimistic about future, but will take time to stabilise oil market 17 Jan 2016 - 05:04 pm

File photo of Saudi Arabian Oil Minister Ali al-Naimi. REUTERS RIYADH: Saudi oil minister Ali al-Naimi said on Sunday it would take “some...

German exports to Iran expected to double after sanctions lifted 17 Jan 2016 - 05:01 pm

Stock market employees work at Tehran's Stock Exchange, Iran, January 17, 2016. REUTERS BERLIN: German industry expects a steep rise in exports to...

UAE’s RAKBANK to cut up to 250 jobs as part of review 17 Jan 2016 - 02:49 pm

ABU DHABI: National Bank of Ras Al Khaimah (RAKBANK) will cut up to 250 jobs as part of a review of the lender’s...

Gulf shares in free fall after oil rout, Iran deal 17 Jan 2016 - 12:36 pm

(AFP/File) Kuwait City: Share prices in the energy-rich Gulf states nosedived Sunday following the sharp decline in oil prices and the expected rise...

Saudi's Almarai Q4 profit rises 13 pct, meets forecasts 17 Jan 2016 - 08:43 am

DUBAI: Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a 13 percent increase in fourth-quarter net profit on Sunday, in line with...

Saudi petrochemical groups hit by oil price fall 14 Jan 2016 - 06:57 pm

DUBA: Saudi Arabian petrochemical firms felt the full impact of lower oil prices in results posted on Thursday, with Saudi Arabia Fertilizers Co...

Pakistan close to agreeing price for Qatar LNG deal: Minister 13 Jan 2016 - 12:12 pm

Representative photo. ABU DHAB: Pakistan is still in negotiations to finalise a multibillion-dollar liquified natural gas (LNG) import contract with Qatar and expects...

Saudi's Savola says energy reform to raise costs by 105m riyals in 2016 12 Jan 2016 - 03:57 pm

DUBAI: Savola Group, Saudi Arabia's largest food products company, said on Tuesday that changes to energy and gas feedstock prices announced by the...

Aramco chairman says no concrete listing plans yet: WSJ 11 Jan 2016 - 04:09 pm

A file photo of Saudi Aramco Chairman Khalid al-Falih. REUTERS DUBAI: Saudi Arabia’s giant national oil company is weighing various ideas regarding the...

Saudi Arabia's Almarai Company purchases farm land in California 10 Jan 2016 - 11:57 am

DUBAI: Saudi Arabia’s Almarai Co, the largest dairy company in the Gulf, has spent $31.8 million to buy land in California to supply...

Oil giant Saudi Aramco says studying share offer 08 Jan 2016 - 06:31 pm

A picture taken on June 23, 2008 shows a flame from a Saudi Aramco oil installion known as "Pump 3" in the desert...

Nine facts about oil giant Saudi Aramco 08 Jan 2016 - 06:28 pm

Riyadh: Saudi Arabia, the world's biggest oil exporter, is reportedly considering issuing shares in state-owned oil giant Saudi Aramco. Here are nine facts...

Saudis consider selling shares in oil giant Aramco: Economist 08 Jan 2016 - 12:00 am

DUBAI: Saudi Arabia’s government is considering whether to sell shares in state oil giant Saudi Aramco as part of a privatisation drive to...

Saudi Ma’aden says unit to borrow 4 bn riyals from state fund 07 Jan 2016 - 06:24 pm

DUBAI: A subsidiary of Saudi Arabian Mining Co (Ma’aden) will borrow 4 billion riyals ($1.07 billion) in construction loans from a state-backed agency,...

Egypt’s new wheat requirement could delay supplies 07 Jan 2016 - 12:00 am

Wheat imports must have zero ergot fungus - quarantine body Traders could avoid Egyptian market under new regulation Wheat shipments stuck at French...