Business / Middle East Business

EFG still awaiting Cairo approval for QInvest merger deal 08 Apr 2013 - 04:39 am

CAIRO: EFG Hermes, the Middle East’s top investment bank, yesterday said a merger deal with Qatari investment company QInvest will lapse on May...

Mixed trading in Gulf bourses 08 Apr 2013 - 04:39 am

DUBAI: Kuwait’s small-caps helped lift the bourse to a 26-month high yesterday as investors bet on improving earnings, while other regional markets were...

Cyprus bankers protest over pension fears 05 Apr 2013 - 05:16 am

NICOSIA: Bank workers in bailed out Cyprus staged a work stoppage yesterday over fears that pensions may be at risk, as more details...

Bahrain halts telecom spectrum auction as operator appeals 04 Apr 2013 - 01:43 am

DUBAI: Bahrain’s telecom regulator is locked in a dispute with a wireless broadband operator that has halted the sale of radio spectrum for...

Top Abu Dhabi lender names CEO with Asian experience 04 Apr 2013 - 01:43 am

ABU DHABI: National Bank of Abu Dhabi named the banker who led Australia and New Zealand Banking Group’s push into Asia as its...

IMF commences talks on $4.8bn loan to Egypt 04 Apr 2013 - 01:41 am

CAIRO: An International Monetary Fund (IMF) team resumed long delayed negotiations with Egypt yesterday on a $4.8bn loan to ease an economic crisis...

UAE marine firm signs $2.4bn deals 04 Apr 2013 - 01:41 am

Abu Dhabi: Abu Dhabi Marine Operating Company (ADMA-OPCO) has signed two Engineering, Procurement and Construction (EPC) contracts valued at around $2.4bn for the...

Tunisia inflation at 5-year high 04 Apr 2013 - 01:39 am

TUNIS: Tunisia’s consumer price inflation jumped to 6.5 percent in March, the highest rate in at least five years, from 5.8 percent in...

Dubai’s bourse recovers after 2-month slump 02 Apr 2013 - 11:59 pm

DUBAI: Dubai’s index rebounded from a two-month low yesterday, although thin trading left investors unsure whether these gains marked the end of a...

Damac plans share listing 02 Apr 2013 - 11:56 pm

DUBAI: Damac Properties, a privately-held Dubai developer, is considering listing its shares on the stock market and has approached banks with proposals for...

Egypt’s foreign reserves slightly lower in March 02 Apr 2013 - 11:56 pm

DUBAI: Egypt’s Central Bank governor yesterday said that foreign exchange reserves had fallen slightly in March from February’s level of $13.5bn. Governor Hisham...

Cypriot finance minister steps down 02 Apr 2013 - 11:54 pm

NICOSIA: Finance Minister Michalis Sarris resigned yesterday, hours after a judicial probe was launched into how Cyprus was pushed to the verge of...

Orascom bid fails to buoy Cairo bourse 02 Apr 2013 - 06:15 am

Traders work at the Egyptian Exchange in Cairo, yesterday. DUBAI: A buyout offer for Orascom Telecom, Egypt’s second-largest listed company, failed to buoy...

17 firms suspended in Kuwait 02 Apr 2013 - 06:14 am

KUWAIT CITY: The Kuwait Stock Exchange yesterday suspended trading in the shares of 17 listed firms for failing to report their annual financial...

Tunisia expects $1.7bn IMF deal in May 02 Apr 2013 - 06:14 am

TUNIS: Tunisia expects to sign a $1.7bn loan deal with the International Monetary Fund next month after a delay due to the crisis...

Emirates, Qantas seek more tie-ups 02 Apr 2013 - 06:13 am

Emirates aircraft taxi at the Dubai International Airport yesterday. DUBAI: Dubai’s flagship carrier Emirates and Australia’s Qantas Airways Ltd will look to extend...

Bahrain’s growth slows as energy output stalls 02 Apr 2013 - 06:11 am

DUBAI: Bahrain’s economic growth slowed sharply in the final quarter of 2012 as growth in hydrocarbon output stalled and two years of social...

Profits surge at Dubai ruler’s flagship firm 02 Apr 2013 - 06:11 am

DUBAI: The flagship company in the ruler of Dubai’s personal business empire increased profits sixfold in 2012, benefiting from cost cuts and a...