Business / Middle East Business

Turkish banks fend off cyberattacks, some transactions hit 26 Dec 2015 - 12:00 am

Banks report sporadic disruption Wave of attacks has gone on for two weeks Network specialist says barrage is intensifying By Can Sezer and...

Middle East misses out on M&A boom as sellers hold out on prices 24 Dec 2015 - 02:01 pm

By Tom Arnold and David French DUBAI: A global boom in mergers and acquisitions has largely bypassed the Middle East where regional deals...

Egypt struggles to pay for oil, LNG supplies amid foreign currency crisis 24 Dec 2015 - 12:00 am

Egypt, which depends on oil and gas imports, has faced a sharper decline in foreign currency receipts since the Russian airliner disaster in...

Israel’s U.S. ambassador makes political point with settlement-made gifts 24 Dec 2015 - 12:00 am

Israeli Ambassador to the United States Ron Dermer (R) speaks to members of Congress about Israel's air campaign against Hamas for missile attacks...

China, Iraq agree to promote energy partnership 23 Dec 2015 - 10:27 am

Beijing: China and Iraq pledged to establish a long-term, stable energy partnership with a memorandum of understanding (MoU) signed on oil and gas. ...

Abraaj and Proparco reduce stake in pharma business Unimed 22 Dec 2015 - 01:15 pm

DUBAI: Emerging markets-focused investor Abraaj and a partner have sold 83 percent of their stake in Tunisia's second-largest pharmaceuticals company Unimed ahead of ...

Saudi Arabian budget to be released next Monday: Al-Arabiya TV 21 Dec 2015 - 05:52 pm

RIYADH: Saudi Arabia will announce its 2016 budget next Monday, the Saudi-owned al-Arabiya television channel, which is close to the ruling family of...

Saudi oil exports rise to 7.364 million bpd in October 21 Dec 2015 - 10:10 am

Riyadh: Saudi Arabia’s crude oil exports in October rose by 253,000 barrels per day from September to 7.364 million bpd, official data showed....

Libya’s eastern oil company says signs shipment deal with Egypt 21 Dec 2015 - 12:00 am

BENGHAZI, Libya: The state oil company of Libya’s eastern government has signed a deal to sell 2 million barrels of crude to Egypt,...

Saudi businessman in talks with Egypt over $4bn tourism project in Sharm: Report 20 Dec 2015 - 01:58 pm

Beach chairs seen in beach at Sharm-el-sheikh (AFP) DUBAI: A Saudi businessman is in talks with Egyptian authorities over a $4 billion tourism...

Kuwait to launch free economic zone on islands 17 Dec 2015 - 11:57 am

Kuwait City: Kuwait has said it will establish a free economic zone on five islands close to the shorelines of regional heavyweights Iraq...

Abu Dhabi power utility building 350MW solar plant: Report 15 Dec 2015 - 04:34 pm

Solar panels (picture for representation purpose only) By Stanley Carvalho ABU DHABI: Abu Dhabi's power utility is building a 350 megawatt (MW) solar...

Delays help Dubai rents stay flat in 2015; sales prices drop 14 Dec 2015 - 06:11 pm

By Matt Smith DUBAI: The delayed handover of about 6,000 homes in Dubai has helped rents remain flat so far in 2015 though...

Turkey Davutoglu says debate over central bank independence ‘overblown’ 14 Dec 2015 - 06:08 pm

ANKARA: The recent debate over the independence of the Turkish central bank is “overblown,” Prime Minister Ahmet Davutoglu said on Monday, and added...

Saudi’s Almarai among suitors for stake in UAE food firm NFPC: sources 14 Dec 2015 - 05:58 pm

DUBAI: Saudi Arabian dairy firm Almarai is interested in buying a majority stake in National Food Products Company (NFPC), four sources familiar with...

Gulf stocks dive to multi-year lows on oil slump 13 Dec 2015 - 04:51 pm

Traders monitor stocks at the Saudi Investment Bank in Riyadh. (file photo) Kuwait City: Share prices in the Gulf states tumbled to multi-year...

Rising food prices push up Egypt’s inflation 10 Dec 2015 - 02:59 pm

CAIRO: Egypt’s urban consumer inflation jumped to its highest level since June, data from the state statistics agency showed on Thursday, propelled by...

Turkish economy grows 4 percent in Q3, beats forecasts 10 Dec 2015 - 11:46 am

File picture for representation only ISTANBUL: Turkey's economy grew a higher-than-expected 4.0 percent year-on-year in the third quarter, official data showed on Thursday,...