Business / Middle East Business

Iraq, Eni in talks to cut Zubair output 30 Jan 2013 - 01:37 am

BASRA: A group led by Italy’s Eni is in final talks with Iraq to cut the production target of Zubair oilfield to one...

Bahrain set to auction radio spectrum 30 Jan 2013 - 01:36 am

DUBAI: Bahrain is to auction radio spectrum for next-generation networks, a move that could seen new players enter the market and should see...

Mubadala to launch $2bn refinancing 30 Jan 2013 - 01:36 am

DUBAI: Abu Dhabi state investment fund Mubadala expects to cut the cost of a $2bn refinancing it will unveil next week by promising...

NBAD quarterly profit surpasses estimates 30 Jan 2013 - 01:35 am

ABU DHABI: National Bank of Abu Dhabi, the UAE’s largest lender by market value, posted a 55-percent rise in fourth-quarter net profit, beating...

Yemen can cut interest rates gradually: IMF 28 Jan 2013 - 12:39 am

DUBAI: Yemen has room to gradually reduce interest rates to support economic recovery and needs to focus on consolidating its public finances, an...

Southern Iraq or Kurdistan: Iraq tells ExxonMobil to choose 28 Jan 2013 - 12:38 am

BAGHDAD: Iraq has told ExxonMobil it must choose between working in its southern oil fields or in Kurdistan, and Baghdad expects the US...

Iraq, Kuwait ink oil exploration deal 28 Jan 2013 - 12:37 am

Officials of Dragon Oil and Kuwait Energy sign documents for an energy exploration deal with Iraq in Baghdad yesterday. BAGHDAD: Iraqi energy officials...

Banks in UAE hope mortgage caps will curb speculation 28 Jan 2013 - 12:37 am

DUBAI: The Emirates Banks Association (EBA) is discussing proposed caps on mortgages with the United Arab Emirates’ central bank, hoping to raise the...

Palestinian banks weather crisis but govt debt is threat 24 Jan 2013 - 06:18 am

RAMALLAH: A central bank in the making, the Palestine Monetary Authority (PMA) is a rare bright spot as the economy of the Palestinian...

GCC investment company with HQ in Doha soon 24 Jan 2013 - 06:18 am

DOHA: The GCC Economic Forum has given its initial nod to set up a GCC investment company with headquarters in Doha after a...

Asiacell share offer to be a sell-out 24 Jan 2013 - 03:31 am

BAGHDAD: Iraqi mobile operator Asiacell’s $1.35bn share sale will be fully subscribed, bookrunner Rabee Securities said, though a top bourse official and some...

Kuwait Airways Corp to be shareholding company 24 Jan 2013 - 03:29 am

KUWAIT CITY: Kuwait’s national carrier plans to buy up to 21 new aircraft over the next two years after parliament yesterday passed a...

Egypt pound drops further 23 Jan 2013 - 07:19 am

CAIRO: Egypt’s pound extended losses yesterday at a central bank forex auction, leaving it 6.8 percent weaker than when the sales were launched...

UAE central bank not to impose mortgage caps 23 Jan 2013 - 07:18 am

DUBAI: The United Arab Emirates central bank has confirmed that it will not impose limits on mortgage loans without consulting commercial banks, after...

Iran rial slips amid row over central bank chief 23 Jan 2013 - 07:16 am

DUBAI: The Iranian rial has dropped sharply on the open market since Sunday, following speculation the central bank chief could be sacked in...

Dubai returns to debt market with $1.25bn sale 23 Jan 2013 - 07:13 am

DUBAI: Dubai used its first big debt sale of 2013 yesterday to show the world that state had well recovered from its credit...

Saudi Aramco plans record rig count for gas 23 Jan 2013 - 07:10 am

KHOBAR: Saudi Aramco plans use a record number of rigs this year, more than 170, to search for unconventional gas while drilling for...

Batelco profit slumps 23 Jan 2013 - 07:10 am

DUBAI: Bahrain Telecomm-unications Co reported a 10th profit drop in 11 quarters yesterday as domestic competition and one-off charges from a cost-cutting programme...