Business / Middle East Business

IDB to launch $10bn sukuk in Dubai 04 Nov 2013 - 08:39 am

DUBAI: The Islamic Development Bank (IDB) will set up a $10bn sukuk issuance programme on the Nasdaq Dubai exchange, a boost to Dubai’s...

Dull trading across Middle East bourses 04 Nov 2013 - 08:37 am

DUBAI: Egypt’s benchmark rose slightly in thin trade yesterday, a day before the trial of deposed Islamist president Mohammed Mursi begins, while other...

Gulf a major destination for global investors 04 Nov 2013 - 08:35 am

The newly reopened Egyptian stock market in Cairo. DUBAI: Foreign money is flowing into the parts of the Middle East which need it...

Forex probes may lead to further regulation of industry 04 Nov 2013 - 08:34 am

ABU DHABI: Recent investigations into alleged manipulation of foreign exchange rates could be used by politicians as an excuse for new regulation of...

Gift glut gives Egypt oil trade new headaches 02 Nov 2013 - 03:10 am

Drivers wait alongside their vehicles in long queues at a gas station during a fuel shortage in the country, in Alexandria June 24,...

AUB eyeing M&A in Qatar, Turkey, Saudi, and the UAE 01 Nov 2013 - 01:17 am

MANAMA: Bahrain-based Ahli United Bank (AUB) is looking for acquisitions in its existing markets and in new ones as it tries to build...

Iraq embraces China’s growing dominance in oil sector 31 Oct 2013 - 12:25 am

BAGHDAD: From the giant southern oilfields to the lively souqs of Basra, China is drilling ever deeper into Iraq. Driven by an insatiable...

Morocco solar power project gets €654m German loan 31 Oct 2013 - 12:04 am

RABAT: Morocco has secured a ¤654m loan from German state-owned bank KFW to part-finance two solar power plants totalling 300 megawatts worth an...

Riyadh luxury auto show 30 Oct 2013 - 01:12 am

A Lamborghini car is displayed at a luxury car exhibition in Riyadh yesterday.

Iran may have new oil contract ready soon 30 Oct 2013 - 01:10 am

DUBAI: Iran expects to draw up new framework agreements within six months, including oil production sharing contracts (PSCs), to lure foreign energy investors...

Refugee flow hits Jordan growth 30 Oct 2013 - 01:02 am

AMMAN: The cost of accommodating hundreds of thousands of Syrian refugees in Jordan is hampering the economy’s ability to grow substantially beyond a...

UAE imposes limits on mortgage loans to avoid property bubble 30 Oct 2013 - 12:58 am

DUBAI: The United Arab Emirates has imposed limits on mortgage loans to prevent another boom-and-bust cycle in the property market, but the restrictions...

Dubai school operator GEMS plans $500m hybrid sukuk 30 Oct 2013 - 12:55 am

DUBAI: GEMS Education, a Dubai-based schools operator, is seeking to raise about $500m from a debut sale of hybrid Islamic bonds to finance...

Kuwait bourse to launch derivatives trading 29 Oct 2013 - 04:36 am

KUWAIT: Kuwait’s stock exchange plans to launch derivatives trading in the first half of 2014 using its new Nasdaq-backed trading system, a senior...

Saudi extends losses; most markets drop 29 Oct 2013 - 04:33 am

DUBAI: Saudi shares extended losses as earnings disappointed investors, while most other Middle East bourses retreated in profit-taking. Saudi’s retail and telecom sectors...

Morgan Stanley sees worst over for Mideast banking 29 Oct 2013 - 04:33 am

DUBAI: Morgan Stanley Inc is seeing a resurgence in investment banking activity in the Gulf Arab region and expects an end to large-scale...

Libya mulling sale of steel plant, 8 firms 29 Oct 2013 - 04:32 am

TRIPOLI: Libya is considering the sale of a steel plant and eight other state companies as part of efforts to overhaul an inefficient...

Bosphorus rail tunnel opens today 29 Oct 2013 - 04:32 am

ISTANBUL: Turkey will today unveil the world’s first sea tunnel connecting two continents, fulfilling a sultan’s dream 150 years ago, but also fuelling...