Business / Middle East Business

Turkey, Pakistan free trade deal to be ready in Dec. 15 Nov 2016 - 01:34 pm

ISLAMABAD: Turkey’s ambassador in Pakistan told Anadolu Agency on Tuesday that a free trade agreement between Turkey and Pakistan will be ready to...

Egyptian pound strengthens as dollar liquidity increases 14 Nov 2016 - 06:26 pm

CAIRO: The Egyptian pound strengthened slightly on Monday and importers reported increased dollar liquidity at banks days after the International Monetary Fund (IMF)...

Saudi Arabia is wrestling down money rates, central bank says 14 Nov 2016 - 06:15 pm

RIYADH: Saudi Arabia’s central bank is succeeding in wrestling down market interest rates and expects to see further declines as it fights a...

Turkey’s Yildiz says conscience clear as investors fear crackdown 14 Nov 2016 - 06:08 pm

ISTANBUL: Turkish food producer Yildiz Holding on Monday said its conscience was “clear” and its businesses “clean”, after reports suggesting it was the...

Egyptian blue chips edge lower after 12 sessions of gains 14 Nov 2016 - 11:52 am

DUBAI: Egypt's stock market edged down in early trade on Monday as traders booked profits in blue chips after 12 straight days of...

Egypt IMF loan to be repaid in 10 yrs, targets higher growth 13 Nov 2016 - 08:23 pm

CAIRO: Egypt’s $12 billion three-year IMF loan programme will be repaid in 10 years with a 4.5-year grace period, with the reforms agreed...

UAE’s GEMS Education seeking $500 million loan: banking sources 13 Nov 2016 - 05:37 pm

DUBAI: GEMS Education, a Dubai-headquartered international education company, is raising $500 million through a loan facility, banking sources familiar with the transaction said...

Once critical, Gulf executives want to do business with Trump 13 Nov 2016 - 11:13 am

DUBAI: Gulf executives who were upset by Donald Trump's campaign trail comments about Muslims took a conciliatory tone following his election victory and...

IMF approves $12 bn loan to support Egypt's economy 12 Nov 2016 - 09:09 am

Washington: The International Monetary Fund on Friday approved a three-year, $12 billion loan for Egypt to help the country recover from its economic...

Saudi working to pay 'billions' owed to private firms 10 Nov 2016 - 09:12 pm

Riyadh: Saudi Arabia is working to pay billions of dollars owed to private firms after oil revenues collapsed, the kingdom's new finance minister...

Egypt set to receive 1st tranche of IMF loan 10 Nov 2016 - 03:57 pm

CAIRO: Egypt will likely receive the first tranche of a $12-billion loan from the International Monetary Fund -- $2.75 billion -- next week,...

Abu Dhabi fund Mubadala may invest in Russian vegoil, rice firms 10 Nov 2016 - 03:29 pm

MOSCOW: Abu Dhabi state investment vehicle Mubadala Development Co may invest in a vegetable oil producer and a rice producer in Russia, a...

Dubai airline Emirates reports 75 pct fall in H1 profit 09 Nov 2016 - 11:53 am

DUBAI: Emirates reported a 75 percent fall in first-half net profit from its airline operations as Dubai's flagship airline was buffeted by a...

IMF chief to recommend $12 bn Egypt loan approval 08 Nov 2016 - 06:55 pm

Cairo: IMF chief Christine Lagarde said Tuesday she will recommend the institution approve a $12 billion loan for Egypt when the board meets...

Saudi Oger seeks payment freeze on $3.5 billion local bank debt 08 Nov 2016 - 06:04 pm

DUBAI: Construction giant Saudi Oger has asked banks to agree to a freeze in repayments on at least 13 billion riyals ($3.5 billion)...

Egypt pound weakens as banks suck up black market dollars 08 Nov 2016 - 04:38 pm

CAIRO: Egypt’s pound weakened on Tuesday as dollar-starved banks bought hard currency from the black market to meet demand from importers and other...

UAE aims to have public-private partnerships framework by year-end 08 Nov 2016 - 04:27 pm

DUBAI: The United Arab Emirates will prepare documentation to govern public-private partnerships (PPPs) by the end of 2016 as it encourages more private...