Business / Middle East Business

Palestinian banks weather crisis but govt debt is threat 24 Jan 2013 - 06:18 am

RAMALLAH: A central bank in the making, the Palestine Monetary Authority (PMA) is a rare bright spot as the economy of the Palestinian...

GCC investment company with HQ in Doha soon 24 Jan 2013 - 06:18 am

DOHA: The GCC Economic Forum has given its initial nod to set up a GCC investment company with headquarters in Doha after a...

Asiacell share offer to be a sell-out 24 Jan 2013 - 03:31 am

BAGHDAD: Iraqi mobile operator Asiacell’s $1.35bn share sale will be fully subscribed, bookrunner Rabee Securities said, though a top bourse official and some...

Kuwait Airways Corp to be shareholding company 24 Jan 2013 - 03:29 am

KUWAIT CITY: Kuwait’s national carrier plans to buy up to 21 new aircraft over the next two years after parliament yesterday passed a...

Egypt pound drops further 23 Jan 2013 - 07:19 am

CAIRO: Egypt’s pound extended losses yesterday at a central bank forex auction, leaving it 6.8 percent weaker than when the sales were launched...

UAE central bank not to impose mortgage caps 23 Jan 2013 - 07:18 am

DUBAI: The United Arab Emirates central bank has confirmed that it will not impose limits on mortgage loans without consulting commercial banks, after...

Iran rial slips amid row over central bank chief 23 Jan 2013 - 07:16 am

DUBAI: The Iranian rial has dropped sharply on the open market since Sunday, following speculation the central bank chief could be sacked in...

Dubai returns to debt market with $1.25bn sale 23 Jan 2013 - 07:13 am

DUBAI: Dubai used its first big debt sale of 2013 yesterday to show the world that state had well recovered from its credit...

Saudi Aramco plans record rig count for gas 23 Jan 2013 - 07:10 am

KHOBAR: Saudi Aramco plans use a record number of rigs this year, more than 170, to search for unconventional gas while drilling for...

Batelco profit slumps 23 Jan 2013 - 07:10 am

DUBAI: Bahrain Telecomm-unications Co reported a 10th profit drop in 11 quarters yesterday as domestic competition and one-off charges from a cost-cutting programme...

Iranian aviation sector faces turbulent times 21 Jan 2013 - 06:20 am

TEHRAN: Sky-rocketing fuel and ticket prices, a drop in passenger traffic and foreign currency shortages, all resulting from global sanctions, have forced Iran’s...

Kuwait’s China investment quota increased to $1bn 21 Jan 2013 - 06:18 am

KUWAIT: China’s foreign exchange regulator has increased the amount which Kuwait’s sovereign wealth fund can invest directly in the Chinese securities markets to...

National Bank of Oman Q4 profit jumps 48pc 21 Jan 2013 - 06:16 am

DUBAI: National Bank of Oman, the sultanate's fourth-largest lender by market capitalisation, posted a 47.8 percent rise jump in fourth-quarter net profit yesterday,...

Jazeera Airways raises capital by 74pc 21 Jan 2013 - 06:12 am

KUWAIT: Kuwait’s Jazeera Airways yesterday said it had raised its capital by 74 percent to KD42m ($149m) through a share issue which was...

Qatar aid pushes Egypt’s foreign reserves to $15.5bn 20 Jan 2013 - 03:57 am

CAIRO: Egypt’s foreign reserves have risen to $15.5bn, helped by a deposit by Qatar to support the economy, its finance minister said, although...

Kuwait’s 8-month budget surplus jumps to KD14.7bn 20 Jan 2013 - 03:56 am

Kuwait: Kuwait’s budget surplus for the first eight months (April 2012 to November 2012) of fiscal year 2012/2013 reached KD14.7bn ($52bn), exceeding the...

Yemen parliament okays $12.9bn spending plan 20 Jan 2013 - 03:55 am

SANA’A: Yemen’s parliament approved the transitional government’s YR2.77tn ($12.9bn) 2013 spending plan yesterday, four weeks after it was passed by the cabinet, after...

Tunisia in loan talks with IMF 20 Jan 2013 - 03:54 am

WASHINGTON: The International Monetary Fund has begun negotiations with Tunisia on a loan programme and hopes to return to Egypt for talks on...