Business / Middle East Business

Gulf producers stand firm on Opec output 22 Dec 2014 - 12:38 am

The Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada (left)), Saudi Arabia’s Oil Minister Ali Al Naimi (centre)...

Gulf oil producers stand firm on OPEC output 21 Dec 2014 - 07:15 pm

Qatar Oil Minister Mohammed bin Saleh Al-Sada (L), Saudi Oil Minister Ali al-Naimi, and United Arab Emirates Energy Minister Suhail bin Mohamed al-Mazroui...

'Irresponsible' non-OPEC output behind oil price plunge 21 Dec 2014 - 11:12 am

Plunge of oil prices ABU DHABI-- Irresponsible" levels of output by producers from outside the OPEC oil cartel is among the main causes...

Oman sovereign fund boosts local stocks 21 Dec 2014 - 06:53 am

MUSCAT: Oman’s State General Reserve Fund (SGRF) has boosted its buying of shares in the local stock market as prices have slid to...

Saudi to keep massive spending in 2015 budget 17 Dec 2014 - 11:52 pm

RIYADH: Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil, which provides the bulk of...

Gulf can cope with cheaper oil, says IMF 17 Dec 2014 - 09:48 am

DUBAI: The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, an International Monetary Fund official said yesterday,...

Dubai property price rise slows 17 Dec 2014 - 12:29 am

DUBAI: Increases in Dubai property prices slowed in the second half of 2014 and valuations will be steady next year as a glut...

Morocco to sell stake in Marsa Maroc 17 Dec 2014 - 12:17 am

RABAT: Morocco’s government launched a tender yesterday seeking advisers for the sale of a minority stake in state-owned port operator Marsa Maroc via...

Saudi crude oil supply inches up in November 15 Dec 2014 - 12:47 am

DUBAI: Crude oil supplies from Saudi Arabia inched up in November from a month earlier, an industry source said on Friday, signaling no...

Turkey may suggest LNG project to Russia 11 Dec 2014 - 10:42 pm

ISTANBUL: Turkey could propose to Russia building an LNG terminal in an energy complex on its border with Greece, as part of talks...

ICD to up Dubai Aerospace stake in asset shuffle 11 Dec 2014 - 08:47 am

Officials at the ME Shiptech Forum 2014 in Dubai. DUBAI: Investment Corp of Dubai (ICD), which hold stakes in many of the emirate’s...

Opec cuts oil demand to lowest in a decade 11 Dec 2014 - 05:52 am

LONDON: Global demand for Opec crude in 2015 is expected to fall to the lowest level in more than a decade and far...

BP to invest $12bn in Egypt over five years 10 Dec 2014 - 12:10 pm

CAIRO: British oil major BP plans to invest more than $12bn in Egypt over the next five years, and to double its gas...

UAE to activate yuan swap soon; eyes rules for lending against shares 10 Dec 2014 - 12:08 pm

ABU DHABI: The central banks of the United Arab Emirates and China aim to activate their 35bn yuan ($5.7bn) currency swap agreement soon,...

Gulf Air set to expand loyalty plan with BKIC 10 Dec 2014 - 12:07 pm

Doha: The Kingdom of Bahrain’s national carrier, Gulf Air, announced a partnership with Bahrain Kuwait Insurance Company (BKIC) giving the insurance provider’s customers...

Non-oil sector to push growth in Algeria 10 Dec 2014 - 12:01 pm

ABU DHABI: Expansion of non-oil businesses is expected to push Algeria’s economic growth above 4 percent next year despite the plunge of global...

Market, not Opec, will set fair price: UAE 10 Dec 2014 - 04:44 am

Customers put gas into their vehicle at the U-gas station in Miami, Florida. According to the AAA Monthly Gas Price Report, the national...

First reactor of UAE N-plant to start in 2017 09 Dec 2014 - 09:49 am

ABU DHABI: The first of four reactors being built at the United Arab Emirates’ Barakah nuclear power plant is 61 percent complete and...