Business / Middle East Business

Bahrain plans IPO for port operator 27 May 2014 - 12:16 am

DUBAI: Bahrain plans an initial public offering (IPO) of shares in the company operating its Khalifa bin Salman port, the Ministry of Transportation...

Egypt energy subsidies 22 May 2014 - 09:00 am

A general view of the Shoubra El Kheima Power Station of North Cairo Electricity Distribution Company in Cairo. Former army chief Abdel Fattah...

Abu Dhabi to enter India this year 22 May 2014 - 08:51 am

ABU DHABI: National Bank of Abu Dhabi plans to set up a regional financial base in India before the end of this year...

Kuwait warns deficit ‘inevitable’ 22 May 2014 - 08:50 am

KUWAIT CITY: Kuwait’s finance minister warned yesterday that the oil-rich Gulf state will face a certain budget deficit because growth in spending has...

Sisi aims to bring Egypt deficit down to 8.5 percent 22 May 2014 - 08:50 am

CAIRO: The leading candidate for Egypt’s new presidency, Abdel Fattah Al Sisi, aims to cut the Egyptian budget deficit to 8.5 percent of...

Emirates could buy more A380s if Airbus revamps superjumbo 21 May 2014 - 12:14 am

BERLIN: Emirates, Dubai’s flagship airline, would be interested in buying more A380s from Airbus if the planemaker brought a revamped version of the...

Gulf Air halves losses after restructuring 21 May 2014 - 12:14 am

DUBAI: Bahrain’s national carrier Gulf Air said yesterday its annual losses fell by 52 percent in 2013 as it neared the end of...

Oman banks can withstand severe shocks 20 May 2014 - 11:58 pm

DUBAI: Oman’s banks have enough capital to withstand the impact of severe shocks to the country’s economy, the central bank said, after conducting...

Kuwait’s Global swings to profit in Q1 20 May 2014 - 11:53 pm

KUWAIT: Global Investment House, the Kuwaiti firm which completed a second debt restructuring last year, swung to a first-quarter net profit as fees...

LuLu makes foray into Malaysia 20 May 2014 - 04:21 am

Director General of FELDA Faizoull Ahmad (left) and LuLu Group International Managing Director Yousaffali M A exchanging documents during the signing ceremony as...

Dubai Islamic Bank to buy Indonesian bank stake 20 May 2014 - 04:13 am

DUBAI: Dubai Islamic Bank (DIB) will purchase a 25 percent stake in Indonesian Islamic lender Bank Panin Syariah, it said yesterday, as the...

Etisalat wins TMT Mena Deal of the Year award 20 May 2014 - 02:30 am

Doha: Etisalat Group scooped two awards at the prestigious TMT Finance Mena Awards 2014 in Dubai. Etisalat’s recent acquisition of Maroc Telecom won...

Kuwait eases rules for listing joint-stock firms 19 May 2014 - 07:33 am

KUWAIT: Kuwait has eased capital rules for joint-stock companies to list on the stock exchange to encourage firms to raise funds and broaden...

Yusuff Ali tops Forbes ‘100 top Indian leaders in Arab World’ 18 May 2014 - 10:03 am

Dubai: Lulu Group boss Yusuff Ali MA (pictured) has topped the Forbes “100 top Indian leaders in the Arab World 2014”. Forbes, world’s...

Egypt could tap bond market after poll 16 May 2014 - 11:49 pm

LONDON: Egypt could tap global bond markets after presidential elections due on May 26 and 27, but should the country be in dire...

TAQA Q1 profit jumps 158pc on oil revenues 15 May 2014 - 06:41 am

ABU DHABI: Abu Dhabi National Energy Company (TAQA), the state-owned oil explorer and power supplier, posted a 158-percent jump in first-quarter net profit...

Egypt pound hits new low as central bank sells forex for food 15 May 2014 - 06:36 am

CAIRO: The Egyptian pound weakened yesterday at an exceptional central bank sale of $1.1bn aimed at supplying dollars to importers of essential foodstuffs,...

Natixis plans Middle East hiring spree 14 May 2014 - 04:50 am

DUBAI: Natixis plans to increase staffing levels in the Middle East by 50 percent in 2014, a top executive of the French investment...