Business / Middle East Business

Saudi market regulator chief replaced 06 Feb 2013 - 07:12 am

RIYADH: The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz of Saudi Arabia has replaced the head of the kingdom’s capital...

Deyaar records $10.5m full year net profit 06 Feb 2013 - 06:59 am

DUBAI: Dubai developer Deyaar yesterday reported a marginal increase in full year net profit, as it booked gains from deliveries of long-pending commercial...

Asiacell share sale lifts Qtel stake to 64.1pc 05 Feb 2013 - 05:29 am

BAGHDAD/DUBAI: Qatar Telecom (Qtel) used Iraqi unit Asiacell’s $1.27bn share sale, Iraq’s largest flotation, to raise its stake to 64.1 percent in a...

Etihad closer to deal with Jet 05 Feb 2013 - 05:24 am

James Hogan (left), Etihad Airways’ President and Chief Executive Officer, and James Rigney, the airline’s Chief Strategist, at a press conference in Abu...

Egypt central bank moves to curb pound decline 05 Feb 2013 - 05:22 am

CAIRO: Egypt’s central bank tightened the pound’s trading band in the interbank foreign exchange market and reduced the frequency of foreign currency auctions...

Egypt central bank to announce forex auctions today 04 Feb 2013 - 12:33 am

CAIRO: Egypt’s central bank cancelled an auction of foreign currency yesterday and said it would announce details of upcoming auctions today, signalling a...

Iranian rial plummets to all-time low 03 Feb 2013 - 04:14 am

TEHRAN: Iran’s currency plummeted to an all-time low yesterday, registering a more than 21-percent drop in a span of two weeks against the...

Arab Bank Group net profit rises 15 percent in 2012 03 Feb 2013 - 04:00 am

AMMAN: Jordan’s largest lender, Arab Bank Group, posted a 15 percent rise in 2012 net profit to $352m on higher revenues, with its...

Revolts hit Mideast tourism 02 Feb 2013 - 03:04 am

An aerial view of Atlantis Hotel and The Palm Jumeirah in Dubai. DUBAI: The revolts that began in Tunisia at the end of...

Emirates airline launches $750m 12-year bond 01 Feb 2013 - 12:02 pm

DUBAI: Emirates airline, Dubai’s flagship carrier, launched a $750m 12-year amortising bond yesterday, with final pricing due later in the day, arranging banks...

Iran seeks help to rescue sunken rig 31 Jan 2013 - 04:16 am

DUBAI: Iran has called for foreign help to recover a $40m gas platform from the Gulf seabed, its Mehr news agency reported, in...

Iraq, Eni in talks to cut Zubair output 30 Jan 2013 - 01:37 am

BASRA: A group led by Italy’s Eni is in final talks with Iraq to cut the production target of Zubair oilfield to one...

Bahrain set to auction radio spectrum 30 Jan 2013 - 01:36 am

DUBAI: Bahrain is to auction radio spectrum for next-generation networks, a move that could seen new players enter the market and should see...

Mubadala to launch $2bn refinancing 30 Jan 2013 - 01:36 am

DUBAI: Abu Dhabi state investment fund Mubadala expects to cut the cost of a $2bn refinancing it will unveil next week by promising...

NBAD quarterly profit surpasses estimates 30 Jan 2013 - 01:35 am

ABU DHABI: National Bank of Abu Dhabi, the UAE’s largest lender by market value, posted a 55-percent rise in fourth-quarter net profit, beating...

Yemen can cut interest rates gradually: IMF 28 Jan 2013 - 12:39 am

DUBAI: Yemen has room to gradually reduce interest rates to support economic recovery and needs to focus on consolidating its public finances, an...

Southern Iraq or Kurdistan: Iraq tells ExxonMobil to choose 28 Jan 2013 - 12:38 am

BAGHDAD: Iraq has told ExxonMobil it must choose between working in its southern oil fields or in Kurdistan, and Baghdad expects the US...

Iraq, Kuwait ink oil exploration deal 28 Jan 2013 - 12:37 am

Officials of Dragon Oil and Kuwait Energy sign documents for an energy exploration deal with Iraq in Baghdad yesterday. BAGHDAD: Iraqi energy officials...