Business / Middle East Business

GIH wins backing for restructuring plan 27 Nov 2012 - 12:11 am

DUBAI: Kuwait’s Global Investment House secured backing from the majority of bank creditors for its restructuring yesterday, a move the debt-laden firm hopes...

ADIA’s infrastructure head Koski resigns 27 Nov 2012 - 12:06 am

DUBAI: The Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, confirmed yesterday that the global head of its...

Cairo bourse index plunges by 9.6pc 26 Nov 2012 - 12:22 am

DUBAI: Saudi Arabia’s shares slumped yesterday, dragging the market down to a 10-month low as political turmoil in Egypt sparked by the President’s...

Regulator bans Mobily from SIM cards sale 26 Nov 2012 - 12:17 am

DUBAI: Etihad Etisalat Co (Mobily), Saudi Arabia’s second-biggest telecoms operator, has asked to meet the industry regulator after it was suspended from selling...

Gov tries to head off strike at Port of Portland 25 Nov 2012 - 12:47 am

PORTLAND, Oregon: Governor John Kitzhaber tried to head off a walkout at the Port of Portland that could mean the port’s first longshore...

Iran oil curbs dodged by Asian economies 24 Nov 2012 - 04:56 am

MUMBAI: Iran is supplying more oil to Asia’s largest economies than at any time since the West tightened sanctions in July, threatening to...

Turkish Airlines eyes $500m lease deal 24 Nov 2012 - 04:54 am

ISTANBUL: Turkish Airlines is in talks with banks about a leasing arrangement worth around $500m to help fund its plane orders from 2014,...

Gulf firms eye emerging markets for growth 23 Nov 2012 - 11:58 am

DUBAI: Gulf firms and state-backed investors, flush with petrodollars and facing limited growth options at home, are stepping into emerging markets in Africa...

Saudis study Fannie Mae-style plan for housing 23 Nov 2012 - 11:51 am

RIYADH: Saudi Arabia is studying draft regulations that could see the creation of a real estate refinancing company similar to U.S. firm Fannie...

Kuwait bank expects Islamic financing boom 22 Nov 2012 - 07:39 am

KUWAIT: Islamic banking is growing at more than double the pace of conventional banking in Kuwait and strong demand is expected throughout the...

Gulf private sector boom still vulnerable 22 Nov 2012 - 07:31 am

ABU DHABI: Four years after a collapse of oil prices savaged Gulf Arab economies, private business activity in most of the region is...

GCC considers economic aid for Jordan, says UAE minister 21 Nov 2012 - 07:20 am

DUBAI: Gulf states are looking at ways to help Jordan’s ailing economy after a government decision to cut fuel subsidies sent energy prices...

Oil slips to $111 as supply outweighs Mideast worries 21 Nov 2012 - 07:19 am

LONDON: Oil fell to $111 a barrel yesterday as ample supplies outweighed worries over fighting between Israel and Palestinians in the Middle East....

Saudi firms fear new year gas price rise 21 Nov 2012 - 07:11 am

RIYADH: Some Saudi petrochemical producers fear a possible rise in the price they pay for gas will impact profits starting early next year,...

Positive movements in real estate market 20 Nov 2012 - 12:35 am

DUBAI: Kuwait’s Global Investment House will ask shareholders to approve delisting its shares from the bourse after failing to secure a regulatory waiver...

GIH seeks shareholder nod for bourse delisting 20 Nov 2012 - 12:32 am

DUBAI: Kuwait’s Global Investment House will ask shareholders to approve delisting its shares from the bourse after failing to secure a regulatory waiver...

Iraq industries attract growing investment 20 Nov 2012 - 12:28 am

BAGHDAD: Iraqi industry is beginning to shake off the legacy of years of violence and economic decline, with private investment in the sector...

Egypt to offer $1.5bn in treasury bills 20 Nov 2012 - 12:28 am

CAIRO: Egypt’s central bank said it would offer $1.5bn in one-year dollar-denominated treasury bills at a November 26 auction, rolling over bills maturing...