Business / Middle East Business

Bourses across the Gulf end in red 16 Jan 2013 - 01:06 am

Jordanian dealers monitor price movements at the investors’ gallery of the Amman Stock Exchange, yesterday. DUBAI: Saudi Arabia’s banks dragged down the bourse...

Saudi sets deadline for telecom licence bids 16 Jan 2013 - 12:49 am

DUBAI: Saudi Arabia’s telecoms regulator has a set a May 4 deadline for companies to submit applications for three mobile virtual network operator...

Investcorp sells CCC Information Services 16 Jan 2013 - 12:48 am

DUBAI: Investcorp, one of the Middle East’s largest private equity houses, has sold CCC Information Services to US-headquartered Leonard Green & Partners, the...

Abu Dhabi plans $90bn boost for infrastructure 15 Jan 2013 - 06:47 am

DUBAI: Abu Dhabi plans to spend Dh330bn ($90bn) on development projects over the next five years, the emirate’s Executive Council said in a...

Abu Dhabi plans $90bn boost for infrastructure 15 Jan 2013 - 01:15 am

DUBAI: Abu Dhabi plans to spend Dh330bn ($90bn) on development projects over the next five years, the emirate’s Executive Council said in a...

Iran may bid for Turkish gas grid 15 Jan 2013 - 01:12 am

ISTANBUL: Iran’s national gas company may bid for a Turkish natural gas distributor and has sought the preliminary documents in the privatisation tender,...

Morgan to cut Dubai staff 15 Jan 2013 - 01:07 am

DUBAI: Morgan Stanley Inc, the sixth-largest US bank by assets, is trimming staff at its Dubai office, mainly by cutting jobs in its...

BofA to increase Gulf lending as deal making recovers 15 Jan 2013 - 12:32 am

DUBAI: Bank of America Merrill Lynch (BofA) plans to increase lending to businesses in the Middle East as oil-rich Gulf investors show more...

UAE central bank plans broad mortgage rules by mid-2013 14 Jan 2013 - 01:06 am

ABU DHABI: The central bank of the United Arab Emirates plans to issue broad regulations governing the housing mortgage industry by the middle...

Kuwait’s budget surplus at $52bn 14 Jan 2013 - 01:03 am

KUWAIT: Kuwait’s government budget surplus stood at 14.7bn dinars ($52bn) in the first eight months of its fiscal year thanks to strong oil...

IMF deal will help Egypt’s ailing economy, says EU’s Rompuy 14 Jan 2013 - 01:03 am

CAIRO: A senior EU official urged Egypt yesterday to conclude its talks with the International Monetary Fund on a $4.8bn loan agreement, saying...

First world atlas on renewable energy launched 14 Jan 2013 - 01:03 am

ABU DHABI: The International Renewable Energy Agency (Irena) yesterday launched the world’s first atlas on clean energy which will offer open-access information on...

Kingdom Holding sells land for $80m 14 Jan 2013 - 01:02 am

DUBAI: Saudi Arabia’s Kingdom Holding, the investment vehicle owned by billionaire Prince Alwaleed bin Talal, has sold a plot of land east of...

Dubai Group settles lawsuit with banks 12 Jan 2013 - 12:45 am

DUBAI: Dubai Group, a struggling unit of the ruler of Dubai’s personal investment firm, has settled with banks who brought legal action against...

Serbia expects investments from UAE 12 Jan 2013 - 12:45 am

BELGRADE: Serbia expects the United Arab Emirates to sign investment deals worth hundreds of millions of euros, making the UAE one of its...

Dubai’s Gold Souq 11 Jan 2013 - 05:55 am

Employees arrange jewellery at a shop at the Gold Souq in Dubai, yesterday. Gold rose over 1 percent to over $1,675 an ounce...

Iraq says can sue over illegal oil exports 11 Jan 2013 - 05:53 am

BAGHDAD: Iraq has the right to take legal action against oil companies exporting crude without dealing with the central government, including confiscating cargoes...

Saudi cuts oil production as demand eases 11 Jan 2013 - 05:53 am

DUBAI: Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and defend prices well...