Business / Middle East Business

UAE's Masdar to invest $300m in Jordan solar project 19 Jan 2016 - 05:15 pm

Masdar solar plant in Mauritania. By Stanley Carvalho ABU DHABI: Abu Dhabi green energy firm Masdar is investing around $300 million in a...

Iran sees $32 bn of unfrozen assets as sanctions end 19 Jan 2016 - 04:02 pm

A handout picture provided by the office of Iranian President Hassan Rouhani shows him leaving after delivering a speech during a conference entitled...

Turkish lira steady ahead of rates meeting with no change expected 19 Jan 2016 - 11:51 am

Turkish lira ANKARA: The battered Turkish lira was stable on Tuesday after Chinese GDP figures gave a modest boost to emerging markets, and...

Saudi's Riyad Bank Q4 profit falls 19.7 pct, in line with estimates 19 Jan 2016 - 09:38 am

DUBAI: Riyad Bank, Saudi Arabia’s fourth-largest lender by assets, posted a 19.7 percent fall in fourth-quarter net profit on Tuesday, in line with...

Iran boosts oil production, condemns new sanctions 19 Jan 2016 - 12:00 am

Tehran: Iran announced a major boost in oil production on Monday after the lifting of sanctions under its nuclear deal, while condemning new...

INTERVIEW-German tunnelling firm ready for Iran contracts 18 Jan 2016 - 06:35 pm

By Gernot Heller FRANKFURT: Herrenknecht, a German tunnelling company that helped to build the Tehran metro in the 1990s, is ready to pounce...

Daimler Trucks eyes swift return to post-sanctions Iran 18 Jan 2016 - 05:02 pm

Frankfurt: German automaker Daimler said Monday that its heavy goods vehicles unit, Daimler Trucks, planned a swift return to the Iranian market, after...

Iran issues order to boost oil production by 500,000 bpd: Shana 18 Jan 2016 - 03:42 pm

A picture taken on January 18, 2016 shows an Iranian woman wearing a face mask for protection against air pollution on a street...

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...