Business / Middle East Business

Morocco eyes investments from Gulf to offset slowdown 27 Oct 2012 - 02:59 am

RABAT: Morocco, facing slower growth and effects of the economic crisis in European partners, aims to attract investments from the the Gulf which...

Egypt turns to Algeria, Qatar for more gas 25 Oct 2012 - 05:09 am

CAIRO: Egypt, a gas producer and exporter, has agreed to import Algerian gas and is in talks with Qatar for a similar deal,...

Bank of Khartoum to restart Islamic bond sale 25 Oct 2012 - 05:04 am

KHARTOUM: Bank of Khartoum, Sudan’s oldest bank, plans to start selling Islamic corporate bonds, or sukuks, again as the economic outlook for African...

Etisalat waiting for takeovers 25 Oct 2012 - 05:04 am

DUBAI: Middle East telecom operator Etisalat expects a shakeout in the sector to throw up takeover opportunities in the next 18 months and...

Mashreq bank Q3 profit jumps 86 percent 25 Oct 2012 - 05:03 am

DUBAI: Mashreq, Dubai’s second-biggest bank by stock market value, yesterday posted an 86 percent year-on-year jump in net profit for the third quarter...

NBAD Q3 profit up 9 percent on investment gains 24 Oct 2012 - 08:10 am

ABU DHABI: National Bank of Abu Dhabi , the largest lender by market value in the United Arab Emirates, beat analyst estimates by...

GCC projects market index reaches $2.49 trillion 23 Oct 2012 - 04:36 am

DOHA: The GCC projects market index rose by 0.2 percent to $2.49 trillion as of the third quarter of 2012. According to Meed’s...

Kurdistan defies Baghdad; begins oil export 23 Oct 2012 - 04:34 am

LONDON: Kurdistan has begun selling its oil into international markets in independent export deals that further challenge Baghdad’s claim to full control over...

Savola seeks shareholder approval for sukuk plan 23 Oct 2012 - 04:30 am

DUBAI: Saudi-based Savola Group will seek shareholder approval for plans to issue Islamic bonds, or sukuk, the company said in a statement to...

FAL files $750m claim against Sharjah Electricity & Water 23 Oct 2012 - 04:30 am

DUBAI: A state-owned utility in the United Arab Emirates owes troubled FAL Oil about Dh2.3m ($631m) for the fuel it bought from the...

UAE’s Du looks to mobile data to drive profit growth 23 Oct 2012 - 04:30 am

DUBAI: Du, the United Arab Emirates’ No.2 telecom operator, aims to capitalise on wealthy customers’ appetite for data via smartphones to offset margin...

Taqa-led group submits lowest price for Saudi power station 23 Oct 2012 - 04:29 am

ABU DHABI/KHOBAR: An Abu Dhabi-led group submitted the lowest price to build a power station in Saudi Arabia, a Saudi statement said, and...

Legal challenges test foreign investors in Egypt 22 Oct 2012 - 04:37 am

CAIRO: Vishnu Swaroop Baldwa is one investor who won’t be returning to Egypt any time soon. “We see better opportunities elsewhere,” said the...

Saudi Aramco chooses builders of Jizan refinery 22 Oct 2012 - 04:36 am

DUBAI: Saudi Aramco, the world’s biggest oil producer, said yesterday that it had chosen Asian and European contractors to build the Jizan oil...

Nakheel profit nearly doubles 22 Oct 2012 - 04:35 am

DUBAI: Dubai’s indebted property developer Nakheel said yesterday that net profit for the first nine months of the year nearly doubled, helped by...

Egypt bourse plans alliance with Turkey 22 Oct 2012 - 04:35 am

CAIRO: Egypt’s bourse is studying an alliance with the Istanbul Stock Exchange that would allow investors in the two countries to trade on...

Saudi Telecom Q3 profit up 25pc 21 Oct 2012 - 06:11 am

RIYADH: Saudi Telecom Co (STC) reported a 25 percent jump in third-quarter profit, missing market expectations. The increase in net profit was because...

Iran’s shipping woes delay crude deliveries to China 20 Oct 2012 - 04:01 am

BEIJING/SEOUL: Iranian crude volumes received by China have been below contracted levels since September, because Iran’s tanker fleet, the sole transporter of its...