Business / Middle East Business

Digital transformation in Saudi Arabia to generate $100 trillion by 2025 03 Mar 2016 - 08:42 am

Khaled H. Biyari, CEO of Saudi Telecom Company (STC) Riyadh: Speaking at the Jeddah Economic Forum 2016, CEO of Saudi Telecom Company (STC)...

UAE’s Mubadala open to selling SR Technics: Executive 02 Mar 2016 - 03:06 pm

By Stanley Carvalho ABU DHABI: Abu Dhabi state-owned fund Mubadala is open to selling its aviation services unit SR Technics, an executive at...

Bureaucrat and old fungus law hold Egypt's wheat supplies hostage 02 Mar 2016 - 02:52 pm

File photo of Rida Ibrahim, a 62-year-old Egyptian farmer, harvesting wheat on his farm, in Qalubiyah, North Cairo, Egypt. AP /Hassan Ammar By...

Japan’s Marubeni may build coal power plant in Egypt 02 Mar 2016 - 02:16 pm

A logo of Japanese trading house Marubeni Corp is pictured outside the company headquarters in Tokyo May 29, 2012. REUTERS/ YURIKO NAKAO TOKYO:...

UAE's Network International agrees to buy Emerging Markets Payments Group 02 Mar 2016 - 02:09 pm

By Tom Arnold DUBAI: Dubai-based Network International has agreed to buy rival Emerging Markets Payments (EMP) from private equity firm Actis in a...

Dubai says it will build world's biggest wholesale hub 01 Mar 2016 - 06:55 pm

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, at the launch of...

Arab government debt rises sharply in 2015: S&P 01 Mar 2016 - 04:28 pm

Dubai: Borrowing by leading Arab governments has more than doubled last year and is forecast to remain high in 2016, Standard and Poor's...

UAE says everyone should move towards freezing oil production 01 Mar 2016 - 02:51 pm

File photo of UAE energy minister Suhail bin Mohammed al-Mazrouei. DUBAI: Oil producers should freeze production if they cannot agree on a cut...

Rouhani says Iran's car industry must be privatised: State TV 01 Mar 2016 - 10:10 am

Iranian President Hassan Rouhani waves after casting his vote during Iran elections 2016, in Tehran in this February 26, 2016 file photo. REUTERS/President.ir/Handout ...

Saudi central bank plans government-backed mortgage scheme 28 Feb 2016 - 04:13 pm

(File photo / Reuters) RIYADH: Saudi Arabia's central bank plans to launch an "affordable mortgage" programme to finance residential real estate purchases by...

UAE cuts March petrol prices, raises diesel 28 Feb 2016 - 01:00 pm

DUBAI: The United Arab Emirates will reduce domestic prices for petrol in March while raising them for diesel, the ministry of energy said...

Saudi Arabia blacklists four firms, three Lebanese men over Hezbollah ties 26 Feb 2016 - 06:06 pm

A general view shows the Saudi embassy in Beirut, Lebanon February 25, 2016. REUTERS DUBAI: Saudi Arabia said on Friday it had blacklisted...

Saudi Arabia has enough wheat to last more than six months -SAGO 23 Feb 2016 - 02:40 pm

By Katie Paul RIYADH: Saudi Arabia has 1.8 million tonnes of wheat reserves, up from 1.6 million tonnes this time last year, enough...

IMF chief urges Gulf states to bring in taxes 22 Feb 2016 - 03:31 pm

IMF Managing Director Christine Lagarde smiles during a press conference at the International Monetary Fund (IMF) in Washington, DC, on February 19, 2016....

Iran, Oman hold talks to forge closer energy ties-Shana 21 Feb 2016 - 12:22 pm

File photo of Iran's Oil Minister Bijan Zanganeh attending an extraordinary ministerial meeting of the Gas Exporting Countries Forum (GECF) in Tehran November...

Sisi opens Africa eco summit to boost investment 20 Feb 2016 - 01:06 pm

(From L to R) Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, Egypt's President Abdel Fattah al-Sisi and Sudanese President Omar al-Bashir attend the...