Business / Middle East Business

Iraq invites firms to build new Iraq-Turkey oil pipeline 06 Aug 2013 - 01:03 am

BAGHDAD: Iraq has invited international companies to build part of a new oil export pipeline linking the country’s northern Kirkuk fields to Turkey,...

Dana Gas net profit slides 45pc in second quarter 05 Aug 2013 - 03:07 am

DUBAI: Dana Gas, the United Arab Emirates energy firm that restructured a $920m Islamic bond in April, said yesterday that its second-quarter net...

Saudi to spend $800m on land for Riyadh metro 05 Aug 2013 - 03:04 am

RIYADH: Saudi Arabia plans to spend about SR3bn ($800m) acquiring land in Riyadh to build the capital’s first metro rail system, the official...

Iraq headed for first annual oil output drop in 3 years 04 Aug 2013 - 12:47 am

LONDON: Iraq’s oil revival is stalling, and unless momentum is regained, Baghdad will report an output decline for 2013, its first after two...

Huge Saudi metro projects aim to shift economy beyond oil 04 Aug 2013 - 12:45 am

RIYADH/DUBAI: A $22.5bn plan to build Riyadh’s first metro rail system aims to achieve more than improving the quality of life in the...

US auto sales accelerate to best July since 2006 03 Aug 2013 - 03:05 am

CHICAGO: US auto sales continued to accelerate, posting the best July performance since 2006 on Thursday as consumers flocked to dealerships to replace...

Iran grants Syria $3.6bn credit to buy oil products 01 Aug 2013 - 04:44 am

AMMAN: Syria and Iran signed a deal this week to activate a $3.6bn credit facility to buy oil products to shore up President...

IMF warns Dubai on debt, surging property prices 31 Jul 2013 - 01:21 am

DUBAI: The International Monetary Fund (IMF) warned Dubai yesterday that the emirate might need to intervene in its property market to prevent another...

Dubai sets up legal panel to pay investors in scrapped projects 31 Jul 2013 - 01:19 am

DUBAI: Dubai will liquidate scores of cancelled property projects and use the funds to repay investors who lost billions of dollars in the...

Algerian oil and gas exports fall 31 Jul 2013 - 01:17 am

ALGIERS: Algeria’s oil and gas exports fell 7.05 percent in the first half of 2013 from a year ago, official figures showed, hit...

Iraqi Kurds’ oil exports held up at Turkish port 31 Jul 2013 - 01:17 am

LONDON: Iraqi Kurdistan’s drive to independent oil exports has been delayed by customs red tape at a second Turkish port, sources familiar with...

Egyptian exports start to boom 31 Jul 2013 - 01:17 am

CAIRO: Egypt is in the early stages of an export boom, suggesting its economy could begin to recover in the next few months...

Morgan Stanley names Qatari as new head 31 Jul 2013 - 01:00 am

DUBAI: Morgan Stanley has appointed Qatari national Abdulla Al Ansari as the bank’s new head in the country, according to an internal memo...

Egypt plans quick steps to spur economy 30 Jul 2013 - 12:50 am

CAIRO: Egypt’s new cabinet plans quick steps to spur the economy while laying the ground for a broader “Marshall Plan” to present to...

Chinese firm denies interest in Israel’s Clal Insurance 29 Jul 2013 - 01:27 am

JERUSALEM: Chinese investment firm Hang Lung Group denied it was in talks to buy a stake in Israeli insurance company Clal Insurance from...

Iraq economy hit by surging violence 28 Jul 2013 - 01:52 am

A boy inspects the site of a car bomb attack in the town of Muqdadiya, 80 km northeast of Baghdad. BAGHDAD: A spike...

Jordan’s Arab Bank sees profit rise this year 28 Jul 2013 - 01:51 am

AMMAN: Jordan’s Arab Bank, one of the largest Middle East financial institutions, expects double-digit growth in net profit in 2013, bank officials said...

India’s Wipro shows signs of revival with boost in profit 27 Jul 2013 - 01:10 am

MUMBAI: India’s third-largest software firm Wipro said yesterday quarterly net profit jumped 11 percent on the back of a rise in outsourcing orders...