Business / Middle East Business

$750m five-year bond from ADCB 25 Feb 2014 - 12:53 am

DUBAI: Abu Dhabi Commercial Bank has set final terms for a $750 million five-year bond, a document from lead arrangers said, as demand...

Gulf Islamic banks’ extra product costs shrinking, says S&P study 21 Feb 2014 - 05:51 am

Paris: The extra costs which Islamic banks in the Gulf charge consumers relative to conventional banks appear to be falling, according to a...

Batelco to take control of Kuwait Net firm 21 Feb 2014 - 05:50 am

DUBAI: Bahrain Telecomm- unications (Batelco) will take majority control of Kuwait’s Qualitynet after agreeing to double its stake in the Internet provider, Batelco...

Kuwait Airways buys 25 planes, first in 20 years 20 Feb 2014 - 01:02 am

KUWAIT CITY: Loss-making state-owned Kuwait Airways Co signed contracts with Airbus yesterday to buy 25 planes, its first order for new aircraft in...

Dubai agrees roll-over of $10bn crisis debt to UAE 20 Feb 2014 - 01:00 am

DUBAI: Dubai has reached agreement on rolling over $10bn in debt extended by the central bank of the United Arab Emirates during the...

Wataniya Q4 profit up 46pc 20 Feb 2014 - 12:51 am

DUBAI: Wataniya, Kuwait’s No.2 telecom operator, reported a 46 percent jump in fourth-quarter profit yesterday. Wataniya made a net profit of KD18.4m ($65.3m)...

ADGM hires ex-Dubai executive as head 19 Feb 2014 - 01:09 am

ABU DHABI: Abu Dhabi’s new financial free zone has hired a former executive from neighbouring Dubai’s financial centre to spearhead its growth. Jan...

Libya crude output falls to 375,000bpd 19 Feb 2014 - 01:07 am

TRIPOLI: Libya’s oil output was down at 375,000 barrels per day (bpd) yesterday with protests continuing to affect a pipeline from the major...

Malabar Gold opens third outlet in Kuwait 18 Feb 2014 - 01:19 am

Shaikha Leena Abdul Aziz Elmashaan and Shaikha Mariam Ismaeel Jumaah Al Ansari jointly inaugurating Malabar Gold & Diamonds’ third outlet in Kuwait at...

Morgan Stanley gets new Mena head 18 Feb 2014 - 01:16 am

DUBAI: Morgan Stanley named Patrick Delivanis as the head of investment banking in the Middle East and North Africa, a spokesman confirmed yesterday,...

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...