Business / Middle East Business

Qatar removes 'offensive' bottles from lingerie store shelves 12 Jan 2015 - 03:10 pm

Landmark Hall in Doha DOHA--Authorities in Qatar have ordered bottles of perfume pulled from the shelves of a lingerie store after the name...

Algeria to invest $70bn in shale over 20 years 12 Jan 2015 - 12:29 am

Algiers: Algeria’s state-owned energy giant Sonatrach plans to invest at least $70bn over the next 20 years to exploit shale gas in the...

Kuwait plans mega projects worth $155bn despite oil dip 12 Jan 2015 - 12:29 am

Kuwait City: Kuwait’s government yesterday announced plans to spend KD45.5bn ($155bn) on projects over the next five years despite the plunge in world...

Egypt set to finalise Gazprom deal soon 12 Jan 2015 - 12:29 am

CAIRO: Egypt will complete an agreement with Russia’s Gazprom for the company to supply it with liquefied natural gas (LNG) shipments later this...

Egypt consumer inflation jumps in Dec to 10.1pc 09 Jan 2015 - 12:28 am

CAIRO: Food and housing costs pushed up Egypt’s annual consumer price inflation in December, the official statistics agency CAMPAS said yesterday, dampening expectations...

Gulf Air gets MEET ICT award 08 Jan 2015 - 12:05 am

Gulf Air’s Electronic Flight Bags received MEET ICT Excellence award for best mobile application. Gulf Air Director of Information Technology Dr Jassim Haji ...

Qatari Diar shifts Al Khaliji stake to QIA 07 Jan 2015 - 11:51 pm

DUBAI: Qatari Diar has transferred its shares in Al Khaliji Commercial Bank to Qatar Investment Authority (QIA), the property arm of Qatar’s sovereign...

British car sales to level off after hitting 10-year high 07 Jan 2015 - 11:51 pm

British car sales to level off after hitting 10-year high LONDON: Britons bought nearly 2.5 million new cars last year, the most in...

Oman has no specific plan to cut spending: Finance minister 07 Jan 2015 - 11:47 pm

MUSCAT: Oman has no specific plans to reduce state spending this year, its minister for financial affairs said yesterday, despite the plunge in...

Dubai Islamic Bank to test bond market 07 Jan 2015 - 11:46 pm

DUBAI: Dubai Islamic Bank will reopen the Gulf bond market next week with a capital-boosting sukuk, the region’s first debt offering in two...

Abu Dhabi plastic maker says prices to be steady 07 Jan 2015 - 11:45 pm

DUBAI: Abu Dhabi plastics manufacturer Borouge expects steady demand to help stabilise product prices in 2015 after oil’s plunge pushed plastic prices down...

Oman 2015 budget raises state spending 02 Jan 2015 - 12:18 am

MUSCAT: Oman’s finance ministry released a state budget for 2015 yesterday that raises spending at the cost of a big projected deficit due...

Gulf markets tumble again as oil hits fresh low 31 Dec 2014 - 05:11 am

DUBAI: Gulf stock markets suffered broad sell-offs yesterday as Brent crude oil slumped to a fresh 5-1/2-year low and political uncertainty in Greece...

Opec output hits six-month low on Libya 31 Dec 2014 - 12:14 am

LONDON: Opec’s oil supply fell by 270,000 barrels per day (bpd) in December to a six-month low as fighting cut Libyan output, offsetting...

DI plans $2.7bn of projects in five years 29 Dec 2014 - 01:20 am

Dubai: Dubai Investments PJSC plans Dh10bn ($2.7bn) of real-estate projects in the next five years as it seeks to benefit from resurgent property...

Saudi budget pegs oil price at $60: Analysts 29 Dec 2014 - 12:06 am

DUBAI: Saudi Arabia’s 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a...

No need for sovereign fund: Saudi minister 27 Dec 2014 - 01:49 am

RIYADH: Saudi Arabia’s finance minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil...

Saudi lifts spending in 2015 budget 26 Dec 2014 - 12:34 am

Saudi Crown Prince Salman bin Abdulaziz (centre) chairing a cabinet session in Riyadh to approve the state’s budget for 2015. DUBAI: Saudi Arabia...