Business / Middle East Business

Aramco, Sumitomo to move unit ownership 03 Aug 2014 - 11:04 pm

DUBAI: Saudi Aramco and Sumitomo Chemical will transfer ownership of a planned SR32bn ($8.5bn) petrochemical facility to their joint venture PetroRabigh, the venture...

Aldar Properties Q2 profit jumps 168pc 03 Aug 2014 - 11:03 pm

ABU DHABI: Aldar Properties, Abu Dhabi’s largest real estate developer, reported a jump in its second-quarter net profit yesterday, after excluding one-time merger...

Dubai Investments H1 net profit more than doubles 03 Aug 2014 - 11:03 pm

DUBAI: Dubai Investments said yesterday that its net profit for the first six months of the year more than doubled, on the back...

Army consortium to build Suez project 03 Aug 2014 - 10:59 pm

CAIRO: Egypt has chosen a consortium that includes the Egyptian army and global engineering firm Dar al Handasah to develop an international industrial...

Kuwait’s Investment Dar loses protection against creditor legal claims 02 Aug 2014 - 10:12 pm

DOHA: Investment Dar, the Kuwaiti firm whose assets include a stake in luxury carmaker Aston Martin, said yesterday a local court had ruled...

Arabtec Q2 net profit up 11pc 28 Jul 2014 - 12:33 am

DUBAI: Arabtec, the construction company at the centre of Dubai’s stock market turmoil, reported an 11 percent rise in second-quarter profit yesterday, missing...

Batelco Q2 net profit slips on competition, one-off costs 28 Jul 2014 - 12:32 am

DUBAI: Bahrain Telecom-munications Co (Batelco) posted a 22.4 percent drop in second-quarter profit yesterday, according to calculations, hurt by continued intense competition in...

Dubai’s Arabtec former CEO trims stake 27 Jul 2014 - 12:07 am

DUBAI: Dubai construction company Arabtec’s former boss has sold about $4m worth of shares in the group this week, cutting his stake slightly,...

Jet Airways eyes profit by 2017 with boost from Etihad 24 Jul 2014 - 08:22 am

NEW DELHI: Jet Airways, India’s second-biggest carrier, forecast yesterday a return to profit in three years through cost-cuts, route-sharing with new partner Etihad...

Egypt’s CIB posts 31pc rise in profit 24 Jul 2014 - 08:15 am

CAIRO: Egypt’s Commercial International Bank, the country’s biggest listed bank, posted a 31 percent rise in net income in the first half of...

Saudi to open $530bn bourse to foreigners 23 Jul 2014 - 02:18 am

A broker monitors stock prices on a screen in Riyadh. RIYADH/DUBAI: Saudi Arabia plans to open its stock market, the Arab world’s biggest,...

MSCI could add Saudi Arabia as emerging market next year 23 Jul 2014 - 02:09 am

LONDON: Index compiler MSCI will consult with investors about adding Saudi Arabia to its broader stock indices and could make a decision to...

Bahrain opposition faces suspension for three months 21 Jul 2014 - 04:47 am

General Secretary of Bahrain's main opposition party Al Wefaq, Sheikh Ali Salman holding a banner with photo of Shi'ite scholar, Sheikh Hasan Najaty,...

Unnamed bidder offers to buy out pay TV OSN 21 Jul 2014 - 02:39 am

DUBAI: Middle Eastern pay-television operator OSN is the subject of a full takeover bid from an unnamed buyer, its parent company said yesterday,...

ADIB net profit jumps in Q2 21 Jul 2014 - 02:36 am

ABU DHABI: Abu Dhabi Islamic Bank (ADIB), the largest Shariah-compliant lender in the emirate, beat analysts’ estimates yesterday as it posted a 22.5...

Oman likely to rescue Bulgaria’s Corpbank 21 Jul 2014 - 01:58 am

MUSCAT: An Omani sovereign wealth fund and other shareholders in Bulgaria’s Corporate Commercial Bank are seeking to stabilise the troubled lender and hope...

SABIC net profit rises 7pc in Q2 21 Jul 2014 - 01:53 am

DUBAI: Saudi Basic Industries Corp (SABIC), one of the world’s largest petrochemicals groups and the Gulf’s largest listed company, reported a 7 percent...

Al Khodari profit slumps 68.8pc, misses forecasts 21 Jul 2014 - 01:47 am

DUBAI: Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al Khodari Sons Co reported a 68.8 percent slump in second-quarter net profit yesterday,...