Business / Middle East Business

ADIA to invest $200m in Indian real estate 12 Jul 2013 - 05:20 am

MUMBAI/DUBAI: Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, plans to invest about $200m in Indian real estate,...

Binladin completes SR1bn sukuk sale 12 Jul 2013 - 05:19 am

DUBAI: Saudi Arabia’s Binladin Group, one of the largest construction firms in the kingdom, has completed a SR1bn ($266.7m) Islamic bond sale, two...

Most Gulf bourses gain 12 Jul 2013 - 05:18 am

DUBAI: Saudi Arabia’s Al Rajhi Bank fell yesterday, souring bourse sentiment after the kingdom’s largest listed lender posted a near-flat quarterly profit, while...

Billions of Gulf aid push Egypt’s bourse up 11 Jul 2013 - 05:45 am

Traders at Egypt’s stock market in Cairo. DUBAI: Egypt’s bourse rose yesterday after Gulf countries pledged billions of dollars in aid but gains...

Nakheel profit rise signals confidence in Dubai property 10 Jul 2013 - 09:20 am

DUBAI: Dubai property developer Nakheel , one of the biggest casualties of the emirate’s real estate market crash in 2009, posted a 57...

Etihad passenger revenue up 8pc 09 Jul 2013 - 12:08 am

ABU DHABI: Abu Dhabi airline Etihad raised passenger revenues by eight percent in the second-quarter, helped by higher turnover from its code-sharing and...

Dubai could raise $1bn from telecoms stake sales: J P Morgan 09 Jul 2013 - 12:06 am

DUBAI: Dubai Holding could raise almost $1bn from the sale of its minority stakes in two telecoms firms, J P Morgan said in...

Abu Dhabi Islamic Bank arranges $360m facility for Gulf Marine 07 Jul 2013 - 11:52 pm

ABU DHABI: Abu Dhabi Islamic Bank (ADIB) has closed a Dh1.32bn ($360m) syndicated Islamic facility for one of the largest operator’s and owner...

France to turn Tunisia debt into development projects 07 Jul 2013 - 01:08 am

TUNIS: France’s president proposed taking at least some of Tunisia’s ¤1bn ($1.3bn) in debt to his country and using it for development projects. ...

Iran devalues official rial rate by more than half 07 Jul 2013 - 01:07 am

TEHRAN: Iran’s central bank yesterday drastically devalued the national currency’s fixed subsidised rate against the dollar, as the Islamic republic struggles to shore...

Iran devalues official rial rate by more than half 07 Jul 2013 - 01:07 am

TEHRAN: Iran’s central bank yesterday drastically devalued the national currency’s fixed subsidised rate against the dollar, as the Islamic republic struggles to shore...

Lebanon says Israel can tap its gas resources 06 Jul 2013 - 05:00 am

BEIRUT: Lebanon’s energy minister said yesterday that Israel has the technical ability to draw from Lebanese underwater gas fields, and called for an...

Egypt index surges 7.3 percent 05 Jul 2013 - 05:18 am

A general view of brokers working at the Egyptian stock exchange in Cairo. DUBAI: Egyptian shares posted their largest one-day percentage gain in...

Dubai steps up asset sales to cut debt pile 04 Jul 2013 - 01:01 am

An Emirati man walks past a tourist posing for a photo near the Burj Khalifa in Dubai. Dubai faces debt repayments of about...

BSE launches futures trading on Dubai bourse 04 Jul 2013 - 01:00 am

DUBAI: The Dubai Gold and Commodities Exchange (DGCX) started trading an Indian stock index futures contract yesterday, aiming to tap demand from the...

Sliding foreign reserves threaten crisis in Tunisia 04 Jul 2013 - 12:59 am

TUNIS/DUBAI: A slide in Tunisia’s foreign reserves may undermine its currency and push the country into a balance of payments squeeze resembling the...

Egypt pound weakens at forex auction 04 Jul 2013 - 12:57 am

CAIRO: The Egyptian pound inched weaker at a central bank foreign exchange auction, which was held early ahead of a yesterday army deadline...

Gold sales to Iran come under US sanctions 03 Jul 2013 - 01:06 am

WASHINGTON: Rigid new US sanctions against Iran came into force yesterday including bans on the sale or barter of gold to the Islamic...