Business / Middle East Business

Egyptian court suspends implementation of central bank decree to limit CEO terms 26 Jun 2016 - 02:16 pm

CAIRO: An Egyptian court suspended the implementation of a Central Bank decree to limit CEO terms on Sunday, according to the lawyer who...

Saudi non-oil GDP growth to slow to 2.8 pct this year: c.bank chief 26 Jun 2016 - 08:46 am

DUBAI: Growth in Saudi Arabia's non-oil gross domestic product is expected to slow to 2.8 percent in 2016 from 3.4 percent in 2015,...

Commercial Bank of Dubai closes in on up to $500 mln loan 23 Jun 2016 - 02:36 pm

DUBAI: Commercial Bank of Dubai (CBD) is expected to sign a three-year loan in the next few days worth up to $500 million...

Turkish central bank says drop in tourism revenue may hit external balances 22 Jun 2016 - 11:16 am

ISTANBUL: The Turkish central bank said on Wednesday that a decline in tourism revenue may hit external balances in the second half of...

Gulf may move sideways; Egypt technically bearish 22 Jun 2016 - 08:47 am

File photo used for representation. Reuters DUBAI: Gulf stock markets may move sideways on Wednesday after oil climbed back over $50 a barrel ...

Six Flags Entertainment seeks to open Saudi theme parks 20 Jun 2016 - 12:57 pm

DUBAI: U.S. theme park company Six Flags Entertainment Corp plans to expand to Saudi Arabia, its chief financial officer told Saudi-owned Arabiya TV...

UAE banks NBAD and FGB confirm talks over possible merger 19 Jun 2016 - 08:56 am

File photo of a man walking past a National Bank of Abu Dhabi branch. Reuters/Jumana El Heloueh DUBAI: National Bank of Abu Dhabi ...

Iran, Boeing reach deal on purchase of 100 planes: Tehran 19 Jun 2016 - 08:47 am

Tehran: Iran and US aerospace giant Boeing have reached a deal for the purchase of 100 aircraft to renew the country's ageing fleet,...

Dubai group to pay $2.4bn for Americana 19 Jun 2016 - 08:26 am

DUBAI: An investment group led by prominent Dubai businessman Mohamed Alabbar has agreed to buy a majority stake in Kuwait Food Co (Americana)...

Oman successfully completes requirements for $2.5 billion worth bonds 18 Jun 2016 - 01:03 pm

Muscat: As part of its plans to finance the state budget's deficit, Omani Ministry of Finance said that it has mandated five international...

Egypt c.bank raises key interest rates by 100 basis points 16 Jun 2016 - 05:46 pm

CAIRO: Egypt's central bank raised its key interest rates by 100 basis points at its monetary policy meeting on Thursday, following a jump...

Turkey aims to triple trade with Iran: customs minister 16 Jun 2016 - 12:07 pm

By Nevzat Devranoglu and Ercan Gurses ANKARA: Turkey aims to triple trade with Iran to $30 billion as quickly as possible after the...

Morocco plans to sell 40 pct stake in Marsa Maroc 13 Jun 2016 - 04:08 pm

RABAT: Morocco is planning to sell a 40 percent stake in state-owned port operator Marsa Maroc via an initial public offering (IPO) on...

Iran bought 3.6 million tonnes of wheat from domestic farmers 13 Jun 2016 - 02:34 pm

DUBAI: Iran has bought 3.6 million tonnes of wheat from domestic farmers this year in state-sponsored purchases, the deputy minister of agriculture said...

Dubai’s Meydan raises 1 bln dirhams Islamic financing 13 Jun 2016 - 12:00 am

Meydan, a major developer of hospitality and entertainment facilities in Dubai, including the Meydan Racecourse, said it had raised 700 million dirhams through...

Insight: How Yemen's wartime central bank keeps country afloat 12 Jun 2016 - 09:00 am

People stand next to food aid they received from a local charity in Sanaa, Yemen, June 5, 2016. REUTERS/KHALED ABDULLAH By Noah Browning...

Saudi cabinet approves economic diversification plan 07 Jun 2016 - 01:04 pm

Jeddah, Saudi Arabia: The Saudi cabinet has approved a major plan to diversify the national economy away from oil and to generate 450,000...

Morocco aims for flexible currency system in early 2017: Jouahri 05 Jun 2016 - 12:33 pm

File photo of Morocco's Central Bank Governor Abdellatif Jouahri. REUTERS/Stringer ABU DHABI: Morocco is aiming to introduce a flexible exchange rate system in...