Business / Middle East Business

Egypt's traders suffer losses after currency float 27 Nov 2016 - 09:57 pm

Cairo/Abu Dhabi: Huddled in the Radisson Blu hotel on the outskirts of Cairo last week, some of Egypt’s top wheat traders talked damage...

Gulf bourses edge up as emerging markets rise 27 Nov 2016 - 09:53 pm

Dubai: Gulf stock markets edged up in quiet trade yesterday, encouraged by strength in emerging markets generally, but Egypt’s index reversed the trend...

Saudi's Alawwal Bank comfortable with capital position 27 Nov 2016 - 04:39 pm

RIYADH: Saudi's Alawwal Bank, formerly known as Saudi Hollandi Bank until a rebranding this week, has no plans to increase capital in the...

Arid Saudi could need '$50 billion' in water investment 27 Nov 2016 - 02:19 pm

Riyadh: Arid Saudi Arabia could need more than $53 billion in water sector investment supported by private funds as demand grows, officials said...

Turkey to increase special tax on autos 25 Nov 2016 - 09:52 pm

Ankara: Turkey increased its special consumption tax on cars yesterday, a move that will be applied to all but the cheapest models in...

Turkey's Pegasus may postpone Boeing deliveries as costs weigh 25 Nov 2016 - 09:51 pm

Istanbul: Turkish budget carrier Pegasus Airlines may postpone delivery of three new Boeing aircraft next year, lease some of its current fleet and...

Etihad Airways prices $1.5 bln sukuk with 3.86 percent profit rate - leads 23 Nov 2016 - 04:33 pm

DUBAI: Etihad Airways has priced at par a $1.5 billion five-year senior unsecured sukuk with a 3.86 percent profit rate, according to a...

Saudi builder Khodari puts value of delayed work at $96.6 mln 22 Nov 2016 - 06:24 pm

DUBAI: Saudi Arabian construction firm Abdullah Abdul Mohsin al-Khodari and Sons said on Tuesday that projects worth 362.2 million riyals ($97 million) had...

Saudi sags on profit taking; Qatar index adds 0.02% 21 Nov 2016 - 10:22 pm

Dubai: Stock markets in the Gulf diverged yesterday with Saudi Arabia’s index cooling for a third session as investors book profits on lofty...

Egyptian banks attract $3bn since currency float 21 Nov 2016 - 09:53 pm

Cairo: Egyptian banks have attracted some $3bn since Egypt took the dramatic step of floating its pound earlier this month, Central Bank Sub-Governor...

UAE to resolve steel pipes issue 21 Nov 2016 - 09:51 pm

Dubai: The United Arab Emirates could refer the United States to the World Trade Organisation over anti-dumping charges levied on steel pipes, a...

Airbus evaluating US vote on Iran with $27bn order at stake 21 Nov 2016 - 02:08 am

Frankfurt: Airbus Group SE said it’s evaluating the implications of a congressional vote that could block it and Boeing Co from providing jets...

Rents in some upmarket Dubai areas fall 20 Nov 2016 - 04:44 pm

As budget-conscious tenants look for cheaper alternatives or downgrade to smaller units to get better value for money, mid-to-high end residential segment continues...

Shares in Abu Dhabi's Union National Bank resume trading 20 Nov 2016 - 02:33 pm

DUBAI: Shares in Abu Dhabi bank Union National Bank (UNB) resumed trading on Sunday after being suspended earlier in the day, according to...

Prince Alwaleed sees Saudi currency depeg as last resort 17 Nov 2016 - 04:45 pm

Saudi Arabian billionaire Prince Alwaleed Bin Talal raised the possibility that the kingdom may depeg its currency as the country undergoes unprecedented social,...

Mideast power generation capacity to grow 66% 17 Nov 2016 - 01:36 pm

The Middle East region’s power generation capacity is expected to grow by 66 percent by 2030, Siemens’ energy outlook released yesterday noted. Siemens’...

Algeria buys 580,000 T wheat in tender 16 Nov 2016 - 05:53 pm

PARIS: Algeria's state grains agency OAIC bought 580,000 tonnes of optional-origin milling wheat in a tender that closed on Tuesday, European traders said...