Business / Middle East Business

Dubai Group in talks to sell Omani stake 13 Dec 2012 - 07:44 am

DUBAI/MUSCAT: Dubai Group, an investment vehicle restructuring $10bn of debt, is in talks to sell its stake in Oman National Investment Corp Holding ...

IMF loan to Egypt delayed amid political turmoil 12 Dec 2012 - 01:17 am

CAIRO: A vital $4.8bn International Monetary Fund loan to Egypt will be delayed until next month, its finance minister said yesterday, intensifying the...

UAE sets royalty rates for telecom firms 11 Dec 2012 - 01:46 am

DUBAI: The United Arab Emirates has set new tax, or royalty, rates for telecom operators in a move seen designed to protect state...

Islamic banking assets to cross $1.8 trillion 11 Dec 2012 - 01:38 am

Dubai: Global Islamic banking assets held by commercial banks are set to cross $1.8 trillion in 2013, up from the $1.3 trillion of...

Falcon eyes more buys after Clariden deal 11 Dec 2012 - 01:32 am

DUBAI: Falcon Private Bank, the Abu Dhabi-owned entity which bought the London unit of Clariden Leu, is eyeing more acquisitions in the boutique...

Dana Gas sets out restructured sukuk terms 11 Dec 2012 - 01:26 am

DUBAI: Dana Gas, the first UAE group to default on an Islamic bond, is offering bondholders $70m in cash and an average eight...

Azerbaijan bank plans $150m Islamic loan 10 Dec 2012 - 12:20 am

MANAMA: International Bank of Azerbaijan (IBA), the country’s biggest lender, plans to raise $150m through an Islamic syndicated loan early next year and...

Dubai announces first residential project in MBR City 09 Dec 2012 - 11:54 pm

DUBAI: Dubai developer Emaar Properties and an arm of Dubai Holding launched the first project in a planned multi-billion dollar flagship development yesterday...

Egypt bourse index tumbles by 4.6pc 07 Dec 2012 - 01:23 am

DUBAI: Egypt’s bourse tumbled yesterday after clashes between political parties killed five, spooking regional investors, while other Gulf markets were lackluster. Worsening political...

Abu Dhabi’s Taqa to raise $2bn from bond 06 Dec 2012 - 02:31 am

ABU DHABI: Abu Dhabi National Energy Co (Taqa), the state-owned firm buying some of BP’s North Sea assets, will raise $2bn from its...

Iran gas not covered by US sanctions, says Turkey 05 Dec 2012 - 08:36 am

ISTANBUL: Turkey does not expect tighter US sanctions to apply to its natural gas imports from Iran, its energy minister said yesterday, which...

Taqa, GIB to price bonds in late-year Gulf flurry 05 Dec 2012 - 08:31 am

DUBAI: Abu Dhabi National Energy Co (Taqa) is preparing to price a two-tranche dollar-denominated bond issue, maturing 2018 and 2023, after roadshows concluded...

Jordan raises rate on dinar deposits 04 Dec 2012 - 09:48 am

AMMAN: Jordan raised its overnight rate on dinar deposits yesterday by 75 basis points to 4 percent, acting to bolster the currency and...

Asiacell to launch IPO on Jan 3 04 Dec 2012 - 09:48 am

DUBAI: Iraqi telecom operator Asiacell will launch its long-awaited initial public offering (IPO) on January 3, a company spokesman said yesterday, in what...

QIB UK closes seventh Islamic structured note 04 Dec 2012 - 09:47 am

DUBAI: London-based QIB UK, a subsidiary of Qatar Islamic Bank, has closed its seventh Islamic capital-protected note with plans to roll out similar...

Batelco to buy CWC assets in $1bn deal 04 Dec 2012 - 09:44 am

DUBAI: Bahrain Telecomm-unications Co (Batelco) has agreed to buy Cable & Wireless Communications’ assets in Monaco and some islands in a deal worth...

Big plans make a comeback in post-crisis Dubai 02 Dec 2012 - 11:58 pm

DUBAI: Dubai is back in the business of unveiling mega projects, three years after a severe financial crisis crippled its booming property sector,...

Maaden in deals with US firms for phosphate project 02 Dec 2012 - 11:58 pm

Al KHOBAR: Saudi mining firm Maaden signed deals worth SR977m ($260m) with US firms Fluor Corp and Bechtel to help develop an industrial...