Business / Middle East Business

Almarai Q4 net profit up 29pc 20 Jan 2013 - 03:54 am

JEDDAH: Saudi Arabian dairy and food producer Almarai Co posted a 29.2 percent rise in its fourth-quarter net profit, beating analyst forecasts, the...

Aston Martin celebrates 100 years in Dubai 18 Jan 2013 - 03:48 am

A helicopter airlifts the Aston Martin Vanquish onto the helipad of the Burj Al Arab Hotel, yesterday. The aerial extravaganza was held as...

GCC bonds set to weather US Treasury storm 18 Jan 2013 - 03:48 am

DUBAI: A jump in US Treasury yields in the last few weeks has raised a grim possibility for emerging market bond investors: A...

Dubai bourse hits new two-year high 18 Jan 2013 - 03:46 am

DUBAI: Dubai’s bourse climbed to a new two-year high yesterday as investors shifted funds to stocks lagging an early-year rally, while other regional...

Renewable energy usage up but 2030 target doubtful 17 Jan 2013 - 03:57 am

ABU DHABI: The share of renewables in the global energy mix has increased over the past decade to more than 15 percent but...

Abu Dhabi’s Taqa says restart date not set for Brent pipeline system 17 Jan 2013 - 03:53 am

DUBAI: Abu Dhabi’s Taqa has no restart date for oil output stopped after a leak at its Cormorant Alpha platform, a part of...

UAE banks to make formal proposal on mortgage caps 17 Jan 2013 - 03:53 am

ABU DHABI: Banks in the UAE agreed yesterday to make a formal plea to the central bank to ease the mortgage limits which...

Sudan plans to boost oil production to 150,000 bpd 17 Jan 2013 - 03:53 am

KHARTOUM: Sudan plans to increase oil production to at least 150,000 barrels per day (bpd) this year thanks to two new oilfields and...

Oil market well-balanced, well-supplied: UAE minister 17 Jan 2013 - 03:47 am

ABU DHABI: The world oil market is well-balanced and well-supplied, UAE Energy Minister Mohammed Al Hamli said yesterday, adding his country plans to...

Saudi Savola’s Q4 net down 17pc 17 Jan 2013 - 03:47 am

JEDDAH: Savola Group, the Saudi-based food conglomerate, posted a 17 percent drop in fourth-quarter net profit, missing analysts’ forecasts, mainly due to a...

Iraq approves Samsung’s $879m oilfield contract 17 Jan 2013 - 03:46 am

BAGHDAD: Iraq’s cabinet approved an $879m oilfield service contract with Samsung Engineering for the development of the Badra oil field, the cabinet said...

Bourses across the Gulf end in red 16 Jan 2013 - 01:06 am

Jordanian dealers monitor price movements at the investors’ gallery of the Amman Stock Exchange, yesterday. DUBAI: Saudi Arabia’s banks dragged down the bourse...

Saudi sets deadline for telecom licence bids 16 Jan 2013 - 12:49 am

DUBAI: Saudi Arabia’s telecoms regulator has a set a May 4 deadline for companies to submit applications for three mobile virtual network operator...

Investcorp sells CCC Information Services 16 Jan 2013 - 12:48 am

DUBAI: Investcorp, one of the Middle East’s largest private equity houses, has sold CCC Information Services to US-headquartered Leonard Green & Partners, the...

Abu Dhabi plans $90bn boost for infrastructure 15 Jan 2013 - 06:47 am

DUBAI: Abu Dhabi plans to spend Dh330bn ($90bn) on development projects over the next five years, the emirate’s Executive Council said in a...

Abu Dhabi plans $90bn boost for infrastructure 15 Jan 2013 - 01:15 am

DUBAI: Abu Dhabi plans to spend Dh330bn ($90bn) on development projects over the next five years, the emirate’s Executive Council said in a...

Iran may bid for Turkish gas grid 15 Jan 2013 - 01:12 am

ISTANBUL: Iran’s national gas company may bid for a Turkish natural gas distributor and has sought the preliminary documents in the privatisation tender,...

Morgan to cut Dubai staff 15 Jan 2013 - 01:07 am

DUBAI: Morgan Stanley Inc, the sixth-largest US bank by assets, is trimming staff at its Dubai office, mainly by cutting jobs in its...