Business / Middle East Business

Iraq approves Samsung’s $879m oilfield contract 17 Jan 2013 - 03:46 am

BAGHDAD: Iraq’s cabinet approved an $879m oilfield service contract with Samsung Engineering for the development of the Badra oil field, the cabinet said...

Bourses across the Gulf end in red 16 Jan 2013 - 01:06 am

Jordanian dealers monitor price movements at the investors’ gallery of the Amman Stock Exchange, yesterday. DUBAI: Saudi Arabia’s banks dragged down the bourse...

Saudi sets deadline for telecom licence bids 16 Jan 2013 - 12:49 am

DUBAI: Saudi Arabia’s telecoms regulator has a set a May 4 deadline for companies to submit applications for three mobile virtual network operator...

Investcorp sells CCC Information Services 16 Jan 2013 - 12:48 am

DUBAI: Investcorp, one of the Middle East’s largest private equity houses, has sold CCC Information Services to US-headquartered Leonard Green & Partners, the...

Abu Dhabi plans $90bn boost for infrastructure 15 Jan 2013 - 06:47 am

DUBAI: Abu Dhabi plans to spend Dh330bn ($90bn) on development projects over the next five years, the emirate’s Executive Council said in a...

Abu Dhabi plans $90bn boost for infrastructure 15 Jan 2013 - 01:15 am

DUBAI: Abu Dhabi plans to spend Dh330bn ($90bn) on development projects over the next five years, the emirate’s Executive Council said in a...

Iran may bid for Turkish gas grid 15 Jan 2013 - 01:12 am

ISTANBUL: Iran’s national gas company may bid for a Turkish natural gas distributor and has sought the preliminary documents in the privatisation tender,...

Morgan to cut Dubai staff 15 Jan 2013 - 01:07 am

DUBAI: Morgan Stanley Inc, the sixth-largest US bank by assets, is trimming staff at its Dubai office, mainly by cutting jobs in its...

BofA to increase Gulf lending as deal making recovers 15 Jan 2013 - 12:32 am

DUBAI: Bank of America Merrill Lynch (BofA) plans to increase lending to businesses in the Middle East as oil-rich Gulf investors show more...

UAE central bank plans broad mortgage rules by mid-2013 14 Jan 2013 - 01:06 am

ABU DHABI: The central bank of the United Arab Emirates plans to issue broad regulations governing the housing mortgage industry by the middle...

Kuwait’s budget surplus at $52bn 14 Jan 2013 - 01:03 am

KUWAIT: Kuwait’s government budget surplus stood at 14.7bn dinars ($52bn) in the first eight months of its fiscal year thanks to strong oil...

IMF deal will help Egypt’s ailing economy, says EU’s Rompuy 14 Jan 2013 - 01:03 am

CAIRO: A senior EU official urged Egypt yesterday to conclude its talks with the International Monetary Fund on a $4.8bn loan agreement, saying...

First world atlas on renewable energy launched 14 Jan 2013 - 01:03 am

ABU DHABI: The International Renewable Energy Agency (Irena) yesterday launched the world’s first atlas on clean energy which will offer open-access information on...

Kingdom Holding sells land for $80m 14 Jan 2013 - 01:02 am

DUBAI: Saudi Arabia’s Kingdom Holding, the investment vehicle owned by billionaire Prince Alwaleed bin Talal, has sold a plot of land east of...

Dubai Group settles lawsuit with banks 12 Jan 2013 - 12:45 am

DUBAI: Dubai Group, a struggling unit of the ruler of Dubai’s personal investment firm, has settled with banks who brought legal action against...

Serbia expects investments from UAE 12 Jan 2013 - 12:45 am

BELGRADE: Serbia expects the United Arab Emirates to sign investment deals worth hundreds of millions of euros, making the UAE one of its...

Dubai’s Gold Souq 11 Jan 2013 - 05:55 am

Employees arrange jewellery at a shop at the Gold Souq in Dubai, yesterday. Gold rose over 1 percent to over $1,675 an ounce...

Iraq says can sue over illegal oil exports 11 Jan 2013 - 05:53 am

BAGHDAD: Iraq has the right to take legal action against oil companies exporting crude without dealing with the central government, including confiscating cargoes...