Business / Middle East Business

Masraf Al Rayan buys Islamic Bank of Britain 17 Jan 2014 - 07:30 am

DUBAI: Masraf Al Rayan, Qatar’s largest Shariah-compliant bank by market value, said yesterday that it had completed its acquisition of Islamic Bank of...

Dubai Group signs $10bn debt restructuring deal 17 Jan 2014 - 07:27 am

DUBAI: Dubai Group has signed a $10bn debt restructuring deal, two sources with knowledge of the matter told Reuters, marking the end of...

Mena to see firm IPO activity in 2014 16 Jan 2014 - 12:04 pm

DUBAI: Mena IPO activity is expected to remain on firm footing in 2014 following a strong uptick in listings in the last quarter...

UAE sees keen interest for oilfields on revised terms: Minister 14 Jan 2014 - 08:00 am

NEW DELHI: Abu Dhabi has received strong interest from international firms for participating in its largest oilfields, the UAE oil minister said, as...

Iraq PM warns Kurdistan 13 Jan 2014 - 06:26 am

BAGHDAD: Iraq Prime Minister Nouri Al Maliki threatened yesterday to cut Kurdistan’s share of the federal budget if the autonomous region exports oil...

Saudi British Bank Q4 net profit jumps 20 percent 13 Jan 2014 - 06:21 am

RIYADH: Saudi British Bank (SABB), Saudi Arabia’s fourth-largest listed bank, said its fourth-quarter net profit rose 20 percent over the same period of...

Iran, Russia negotiating big oil-for-goods deal 11 Jan 2014 - 02:38 am

LONDON/ANKARA: Iran and Russia are negotiating an oil-for-goods swap worth $1.5bn a month that would let Iran lift oil exports substantially, in defiance...

Turkish lira touches new lows 10 Jan 2014 - 06:25 am

ISTANBUL: Turkish Prime Minister Recep Tayyip Erdogan’s public feud with judiciary and police force over a corruption scandal shaking his government continued to...

Tunisia seeks next IMF tranche 09 Jan 2014 - 11:11 am

TUNIS: Tunisia’s government, under pressure from protests over public spending cuts, said yesterday it had done enough to persuade the IMF to approve...

Adnoc to take full control of Adco oilfields 09 Jan 2014 - 11:09 am

DUBAI: Abu Dhabi National Oil Company (Adnoc) will take full control of the Adco oil concession when the decades-old partnerships with some of...

Libya to sue, cut off firms buying oil from seized ports: Minister 09 Jan 2014 - 11:08 am

TRIPOLI: Libya will take to court any foreign firms trying to buy oil from eastern ports seized by armed protesters and stop doing...

Lebanon delays gas tender yet again 08 Jan 2014 - 10:39 pm

BEIRUT: Lebanon delayed until April its first offshore gas licensing round for a third time yesterday after politicians repeatedly failed to form a...

Turkish lira likely to stabilise in coming months 08 Jan 2014 - 10:36 pm

ISTANBUL: The Turkish lira is likely to stabilise against the dollar in coming months despite pressure on it due to capital flows out...

Jarir Marketing Q4 profit rises 16 percent 07 Jan 2014 - 11:14 pm

DUBAI: Saudi Arabia retailer Jarir Marketing posted a 16 percent rise in fourth-quarter net profit yesterday, slightly above estimates as sales of smart...

Turkey sees impact of graft probe on economy 07 Jan 2014 - 11:13 pm

ISTANBUL: Uncertainty caused by Turkey’s corruption scandal could hit economic growth in the near term, Finance Minister Mehmet Simsek said yesterday, while ratings...

Turkish lira at new low 07 Jan 2014 - 08:54 am

Tourists check rates outside a currency exchange office in central Istanbul yesterday. ANKARA: The Turkish lira plunged to a new low against the...

Egypt economy starting to pick up: Survey 07 Jan 2014 - 08:18 am

CAIRO: Business activity in Egypt grew for a second consecutive month in December, a survey showed yesterday, in a positive sign that the...

UAE output growth at 32-month high 07 Jan 2014 - 08:10 am

DUBAI: Growth in overall business activity in the United Arab Emirates’ non-oil private sector slowed slightly in December, but output expanded at the...