Business / Middle East Business

Gulf Air completes retrofit of A330 fleet 28 Jan 2015 - 01:31 am

Gulf Air yesterday hosted media members on an exclusive tour of its newly retrofitted Airbus A330 aircraft – upgraded with fully-flat bed seats...

UAE remittances: Who sends home the most money? 26 Jan 2015 - 09:19 pm

Expatriates crowd an exchange house to send money home Rising US dollar drives remittances from UAE Fuelled by the strengthening of the dollar...

DIB net profit rises 64.1pc, hikes dividend 26 Jan 2015 - 12:19 am

DUBAI: Dubai Islamic Bank (DIB), the United Arab Emirates’ largest Sharia’h-compliant lender, posted a 64.1 percent increase in fourth-quarter net profit yesterday, as...

Nuaimi to stay as Saudi oil minister 24 Jan 2015 - 02:55 am

DUBAI: The Custodian of the Two Holy Mosques King Salman bin Abdulaziz of Saudi Arabia was quick to keep veteran Oil Minister Ali...

Dubai's Nakheel posts 43% surge in 2014 profits 21 Jan 2015 - 08:39 pm

Dubai - Dubai real estate giant Nakheel, hit badly during the global debt crisis, said Wednesday its profits surged 43 percent on year...

Oil export losses to reach $300 billion in Middle East 21 Jan 2015 - 05:11 pm

WASHINGTON -- Losses from lower oil exports should sap up to $300 billion from economies in the Middle East and Central Asia this...

Oil prices have reached 'bottom 21 Jan 2015 - 01:52 pm

Iraqi Oil Minister KUWAIT CITY,--Iraqi Oil Minister Adel Abdul Mahdi predicted Wednesday that world prices would not fall much further after a plunge...

Falling oil prices not to impact clean energy: UAE minister 20 Jan 2015 - 12:59 am

Visitors walk near solar-powered vehicles on display at the World Future Energy Summit 2014 in Abu Dhabi. Abu Dhabi: The United Arab Emirates...

No plans to call emergency Opec meeting, says Iran 20 Jan 2015 - 12:49 am

DUBAI: Iran has no plans to call for an emergency Opec meeting to discuss the falling price of oil but was talking to...

Egypt allows pound to fall again 20 Jan 2015 - 12:48 am

CAIRO: Egypt’s central bank let the pound weaken yesterday for the second day running, a move analysts said was aimed at stamping out...

Opec was right not to cut: Kuwait 15 Jan 2015 - 02:46 am

KUWAIT city: The depth of the oil price drop was unexpected, Kuwait’s oil minister said yesterday, repeating too that Opec had made the...

Gulf states plan laws to curb fuel smuggling 14 Jan 2015 - 12:16 am

ABU DHABI: Gulf countries including the United Arab Emirates and Saudi Arabia are formulating new legislation to curb fuel smuggling, the UAE energy...

Bahrain to raise natural gas prices for industry 14 Jan 2015 - 12:16 am

DUBAI: Bahrain’s cabinet has decided to raise prices of natural gas sold to companies, official news agency BNA reported in a sign that...

Dubai World debt deal creditors to vote in March 14 Jan 2015 - 12:11 am

DUBAI: The court administering Dubai World’s restructuring has set March 17 as the provisional date for creditors to vote on whether to back...

Cyprus Airways staff protest airline closure 12 Jan 2015 - 11:35 pm

Employees of Cyprus Airways take part in a demonstration against the closing down of the airline outside the Financial Ministry in Nicosia yesterday....

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...