Business / Middle East Business

Gulf Marine Services plans London IPO 18 Feb 2014 - 01:12 am

DUBAI: Abu Dhabi-based Gulf Marine Services (GMS) said yesterday it intended to sell shares on the London Stock Exchange to fund its growth...

Air Arabia Q4 net rises 12 percent, below estimates 18 Feb 2014 - 01:10 am

DUBAI: Budget carrier Air Arabia, the United Arab Emirates’ only publicly listed carrier, reported a 12 percent rise in fourth-quarter net profit yesterday...

Mashreq increases foreign ownership limit to 49pc 18 Feb 2014 - 01:09 am

DUBAI: Dubai’s Mashreq has increased the limit on foreign ownership of its shares to 49 percent, its chief executive said yesterday, in line...

Libyan crude output falls to 390,000bpd 17 Feb 2014 - 12:13 am

TRIPOLI: Libya’s oil production has fallen to 390,000 barrels per day, some 70,000bpd less than last week, as protests have partly blocked flows...

Dubai’s Deyaar seeks foreign investments 17 Feb 2014 - 12:11 am

DUBAI: Dubai property developer Deyaar said yesterday that it planned to allow foreigners to begin investing in its shares and hold up to...

Iran plans carbon emissions trading market 17 Feb 2014 - 12:11 am

DUBAI: Iran plans to set up a carbon trading market to reduce industrial emissions of climate-warming gas, an official from Iran’s Fuel Conservation...

Iran asks India for $1.5bn in oil payments 14 Feb 2014 - 07:14 am

NEW DELHI: Iran has asked India for $1.5bn in back oil payments under the nuclear deal that provides Tehran some relief from Western...

Dubai firm in $1bn turboprop deal 13 Feb 2014 - 09:57 am

Visitors walk past an Airbus A350 on display at the Singapore Airshow yesterday. SINGAPORE: Dubai Aerospace Enterprise (DAE) is to spend up to...

Award for Malabar Gold & Diamonds 13 Feb 2014 - 09:52 am

Shamlal Ahammed M P, Managing Director- International Operations, Malabar Gold & Diamonds, receiving an award from Sheik Dr Sultan bin Mohammed Al Qassimi,...

Aldar Property to refinance $2.2bn debt 13 Feb 2014 - 09:45 am

DUBAI: Aldar Properties said yesterday that it would look to refinance Dh7.9bn ($2.2bn) of debt maturing this year, as the Abu Dhabi developer...

Turkey’s Kiler to issue $100m sukuk 13 Feb 2014 - 09:44 am

ISTANBUL: Turkish real estate investment trust Kiler GYO is planning to issue a five-year Islamic bond worth at least $100m in the second...

Dubai extends gains, other markets mixed 12 Feb 2014 - 08:41 am

DUBAI: Dubai’s bourse rose further yesterday after a choppy session as it tried to break free of the 4,000-point psychological resistance level, while...

Kuwait’s takaful firms struggle in crowded market 12 Feb 2014 - 08:39 am

KUWAIT: Kuwait’s first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces...

Egypt gears up to meet energy needs: Minister 11 Feb 2014 - 10:34 am

CAIRO: Egypt will need to import an additional $1bn worth of petroleum products and secure significant natural gas supplies as it scrambles to...

Kuwait clears $12bn refinery bids 11 Feb 2014 - 10:31 am

KUWAIT: Kuwait has approved bids worth a total of $12bn for major upgrades at two oil refineries, the state-run oil company said yesterday,...

Egypt unveils $4.87bn stimulus 11 Feb 2014 - 10:31 am

CAIRO: Egypt’s interim government unveiled its second stimulus package yesterday, which will inject 33.9bn Egyptian pounds ($4.87bn) into the economy, with most of...

UAE firm eyes $2bn India power deal 11 Feb 2014 - 10:30 am

ABU DHABI: Abu Dhabi National Energy Co (TAQA), leading a consortium that plans to invest around $2bn to acquire hydropower assets in India,...

Kuwait-Airbus deal on track despite probe 10 Feb 2014 - 03:03 pm

KUWAIT: A parliamentary investigation into a Kuwait Airways plan to buy and lease aircraft from Airbus will not affect the deal, the state...