Business / Middle East Business

Taqa eyes $800m project bond 19 Feb 2013 - 07:37 am

DUBAI: Abu Dhabi National Energy Co (Taqa), the state-owned energy and utility firm, plans to issue an $800m bond next month to refinance...

Egypt sees 3 percent growth rate 19 Feb 2013 - 07:35 am

CAIRO: Egypt’s annual economic growth rate will hit 3 percent by end-June, below the government’s projected 4 percent because of political instability, the...

Saudi oil exports fell to 7.06m bpd in December 18 Feb 2013 - 06:26 am

DUBAI: Saudi crude exports fell for the fourth month running in December, but the fall in shipments was less dramatic than the drop...

Nakheel in talks to extend $2.18bn loan: Report 18 Feb 2013 - 06:26 am

Dubai: Developer Nakheel is in talks to extend Dh8bn ($2.18 bn) in loans due in 2015, the indebted company’s chairman was quoted as...

Aldar lifts Abu Dhabi; most regional markets dip on profit-taking 18 Feb 2013 - 06:25 am

DUBAI: Shares in Abu Dhabi’s Aldar Properties helped lift the emirate’s benchmark to a 39-month high, with investors expecting strong dividend payouts, while...

France woos UAE over Rafale fighter jet deal 18 Feb 2013 - 05:47 am

ABU DHABI: France’s senior defence industry lobbyist said yesterday he was confident the United Arab Emirates would buy Rafale fighter jets by 2015-2016,...

Abu Dhabi lays foundation for Pakistan property project 18 Feb 2013 - 05:47 am

ABU DHABI: A member of Abu Dhabi’s royal family says he plans to spend $45bn over up to 15 years on a real...

KFH Q4 net profit rises but misses estimates 18 Feb 2013 - 05:47 am

KUWAIT: Kuwait’s biggest Islamic lender, Kuwait Finance House (KFH) reported a 24 percent rise in fourth-quarter net profit yesterday thanks to its restructuring...

Jordan’s Arab Potash profit falls by a third 18 Feb 2013 - 05:47 am

AMMAN: Jordan’s Arab Potash Company, one of the world’s largest producers of potash, said 2012 net profit fell by more than a third...

Etihad needs to revise Jet Airways deal: Chairman 18 Feb 2013 - 05:46 am

ABU DHABI: Etihad Airways needs to revise its deal to buy a stake in India’s Jet Airways and it is too soon to...

G20 steps back from currency brink 17 Feb 2013 - 04:53 am

MOSCOW: The Group of 20 nations declared yesterday that there would be no currency war and deferred plans to set new debt-cutting targets,...

Air Arabia Q4 net profit rises 6pc 17 Feb 2013 - 04:52 am

ABU DHABI: UAE budget carrier Air Arabia reported a 6 percent rise in fourth quarter net profit yesterday, helped by a rise in...

Cameron may fly into Shell India tax dispute 16 Feb 2013 - 05:08 am

LONDON: Oil company Royal Dutch/Shell has asked the British government to raise the subject of a tax dispute with India during Prime Minister...

DIFC sees growth in Asia, Africa 15 Feb 2013 - 11:15 am

DUBAI: The Dubai International Financial Centre (DIFC), a business zone, says it aims to double the number of companies there over five years...

Omantel profit falls as text messaging loses appeal 14 Feb 2013 - 12:09 am

DUBAI: Oman Telecommunications (Omantel) reported a 10 percent fall in fourth-quarter profit, missing analysts’ estimates as revenue from text messages and international calls...

Bahrain sees sharp growth in 2013 13 Feb 2013 - 05:01 am

DUBAI: Bahrain’s economic growth is expected to pick up sharply this year on the back of a stronger oil sector, large industrial investments...

Egypt gains; Dubai ends lower 13 Feb 2013 - 04:59 am

DUBAI: Egypt’s index marked its biggest gain in nine days yesterday after protests marking the second anniversary of the overthrow of former president...

Kuwait watchdog urges transparent Islamic finance monitoring 13 Feb 2013 - 04:54 am

KUWAIT: Islamic financial institutions in Kuwait should hire enough personnel to ensure they comp ly with Shariah standards, and work with the personnel...