Business / Middle East Business

UAE expects five firms on secondary market 26 Nov 2014 - 12:34 am

ABU DHABI/DUBAI: Three more private companies are expected to list shares on the UAE stock exchanges’ secondary market by mid-2015, the head of...

Noor Bank eyes Turkish growth 26 Nov 2014 - 12:29 am

DUBAI: Dubai-based Noor Bank is looking to Turkey and other international markets to escape tougher competition at home and take advantage of a...

GCC petrochemical revenues hit $89.4bn in 2013 25 Nov 2014 - 06:28 am

DOHA: Petrochemicals revenues reached an all-time high in 2013 hitting the $89.4bn mark, according to the latest industry report by the Gulf Petrochemicals...

Kuwait’s KNPC to invest $40bn in new refinery 25 Nov 2014 - 06:28 am

KUWAIT city: Kuwait National Petroleum Co (KNPC) plans to spend $40bn in the period to 2022 on projects including a new refinery and...

Oil wobbles as Opec moves into focus 25 Nov 2014 - 06:26 am

LONDON: Global oil prices diverged yesterday in a subdued start to a week that will be centred on the OPEC cartel’s output meeting,...

Dubai Festival City raising $1.1bn loan 25 Nov 2014 - 06:26 am

DUBAI: Dubai Festival City (DFC), a unit of conglomerate Al Futtaim Group, is in the process of raising a Dh3.9bn ($1.06bn) loan facility...

Religion and risk drive Islamic finance boom 24 Nov 2014 - 08:56 am

A Kuwaiti man withdraws cash from an ATM outside a Kuwait Finance House branch inside the Avenues Mall, the largest shopping centre in...

Iran favours output cut at Opec meet 24 Nov 2014 - 08:53 am

VIENNA: Iran will try to persuade Saudi Arabia to cut oil production when the oil ministers from the two Opec members meet this...

Saudi Mobily suspends CEO 24 Nov 2014 - 08:46 am

DUBAI: Mobily, Saudi Arabia’s second-biggest telecom operator, has suspended chief executive Khalid Al Kaf and put his deputy Serkan Okandan in charge pending...

Amer Group to split into two companies 24 Nov 2014 - 08:45 am

CAIRO: Egyptian real estate company Amer Group plans to split into two companies in an attempt to create more opportunities for its development...

Egypt hopes to attract up to $12bn at investment summit 23 Nov 2014 - 01:01 am

CAIRO: Egypt hopes to attract investment of $10bn-$12bn in 20 projects, including in energy, transport and water, at a major conference in mid-March,...

Morocco to spend, speed up reforms 22 Nov 2014 - 12:20 am

MARRAKESH: Morocco plans to boost state spending in support of industry and reform regulations as part of an effort to double foreign direct...

Kuwait Airways to buy 10 Boeing 777s 21 Nov 2014 - 09:26 am

KUWAIT CITY: State-owned Kuwait Airways Co said yesterday that it has agreed to buy 10 Boeing 777-300ERs, with delivery to begin in two...

Foreigners can trade in Saudi stocks by April 18 Nov 2014 - 12:35 am

RIYADH: Foreign institutional investors are expected to begin direct trading of Saudi Arabian stocks before April next year, the Asharq Al Awsat newspaper...

Kuwait to let banks trade derivatives 18 Nov 2014 - 12:34 am

DUBAI: Kuwait’s dinar rose sharply against the US dollar in the forwards market yesterday in response to news that the Kuwaiti central bank...

Aviation to drive 37.5pc of Dubai economy: Study 18 Nov 2014 - 12:33 am

DUBAI: Aviation will account for more than a third of Dubai’s economy by 2020, a study said yesterday. Oil-poor Dubai has spent years...

Iran oil minister slams producers for not cutting output 17 Nov 2014 - 07:26 am

DUBAI: Iran’s oil minister accused some countries yesterday of making up excuses to justify their refusal to stabilise prices by cutting output, a...

GCC construction sector leverages latest software to finish projects 17 Nov 2014 - 07:25 am

DOHA: The GCC construction sector is leveraging advanced construction software to deliver on its $1.3 trillion value, industry experts announced yesterday in Dubai....