Business / Middle East Business

Flydubai sees burgeoning demand for budget travel 18 Nov 2013 - 02:02 pm

DUBAI: There is plenty of untapped demand for mid-range travel from Dubai’s tourism hub despite the massive capacity at the airport filling up,...

UAE bank lobby official urges sanctions for new mortgage law 18 Nov 2013 - 02:01 pm

DUBAI: The head of the United Arab Emirates Banks Federation has called for sanctions to be introduced to back up the country’s new...

Etihad in talks to buy 75 Airbus jets in order worth $16bn 17 Nov 2013 - 08:14 am

DUBAI: Abu Dhabi’s Etihad Airways is in talks to order as many as 75 Airbus jets, including around 50 of the European planemaker’s...

Egypt’s wheat supply to last until March 5, says minister 17 Nov 2013 - 08:11 am

CAIRO: Egypt’s wheat supply is sufficient to last the country until March 5, the supplies minister said yesterday. Mohamed Abu Shadi said in...

Boeing set to dominate Dubai Air Show 16 Nov 2013 - 04:41 am

DUBAI: Perennial foes Airbus and Boeing get set for another skirmish at the Dubai Air Show today, with the US plane maker tipped...

UAE lender FGB to expand into foreign markets 15 Nov 2013 - 09:58 am

ABU DHABI: First Gulf Bank (FGB) will expand into three or four new foreign markets in 2014, seeking to push the percentage of...

Saudi Electricity picks banks for sukuk issues 15 Nov 2013 - 09:58 am

DUBAI: Saudi Electricity Co plans to issue Islamic bonds denominated in both riyals and dollars in coming months and has selected banks to...

Do not get overtaken by property market exuberance, IMF tells Dubai 13 Nov 2013 - 07:13 am

DUBAI: Dubai’s government has to make sure its property market is driven by fundamental factors, not speculation, and be ready to act if...

Broadband lifts Omantel profits 13 Nov 2013 - 07:12 am

DUBAI: Oman Telecommunications (Omantel) reported a 3.9 percent rise in third-quarter profit yesterday, beating analyst estimates as broadband revenue increased. The former monopoly...

High fuel costs hit Emirates airline profits 13 Nov 2013 - 07:08 am

DUBAI: High fuel costs and weak currencies in some key markets flattened first-half profit growth at Dubai’s flagship airline Emirates, signalling Gulf carriers...

Egypt tender to develop Suez Canal soon 12 Nov 2013 - 11:15 am

CAIRO: Egypt will finalise a tender for the development of the Suez Canal by the end of the month, the investment minister said,...

Economic forum in Kuwait 12 Nov 2013 - 11:12 am

Kuwaiti Minister of Finance Sheikh Salem Abdulaziz Al Sabah (centre), Deputy Secretary General of the Arab League Ahmed Ben Helli (left), and African...

UAE to build Middle East’s first land-based LNG import terminal 12 Nov 2013 - 11:12 am

DUBAI: EmiratesLNG will build and operate the Middle East's first land-based liquefied natural gas (LNG) import facility at Fujairah, having won government approval...

Etihad in talks to buy Airbus jets 12 Nov 2013 - 11:12 am

DUBAI/PARIS: Abu Dhabi’s Etihad Airways is in talks to buy jets from Airbus even as it puts the finishing touches to a reported...

Zain extends profit slump 12 Nov 2013 - 11:11 am

DUBAI: Zain, Kuwait’s No. 1 telecom operator, blamed a plunge in the Sudanese pound and other foreign exchange moves as it reported a...

Twitter shares are Shariah-compliant, says US screening firm 12 Nov 2013 - 11:09 am

DUBAI: Shares in Twitter Inc have been found eligible for investment by Islamic funds, according to IdealRatings, a company that screens stocks to...

Kuwait a major investor in London 11 Nov 2013 - 09:54 am

Kuwait: The State of Kuwait is among the top investors in the British capital, London, as it manages investment projects worth no less...

Dolphin Energy marks success of job nationalisation 11 Nov 2013 - 09:53 am

Officials of Dolphin Energy Limited Qatar during the Annual Nationalisation Forum at the Hilton Doha Hotel. Abu Dhabi: Dolphin Energy Limited Qatar celebrated...