Business / Middle East Business

Shard builder named project manager of Kingdom Tower 22 Feb 2013 - 05:59 am

LONDON: The builder of The Shard skyscraper in London will be the project manager for the planned $1.2bn, 1,000-metre Kingdom Tower skyscraper in...

StanChart names head of mergers and acquisitions for Mena region 21 Feb 2013 - 10:01 am

Dubai: Standard Chartered announced yesterday the appointment of Tom Emmet as Head of Mergers and Acquisitions (M&A) for the Middle East and North...

Iraq greenlights gas pipeline agreement with Iran, Syria 20 Feb 2013 - 12:37 am

BAGHDAD: Iraq yesterday gave the go-ahead for a framework agreement to be signed for the construction of pipelines through Iraqi territory that would...

Taqa eyes $800m project bond 19 Feb 2013 - 07:37 am

DUBAI: Abu Dhabi National Energy Co (Taqa), the state-owned energy and utility firm, plans to issue an $800m bond next month to refinance...

Egypt sees 3 percent growth rate 19 Feb 2013 - 07:35 am

CAIRO: Egypt’s annual economic growth rate will hit 3 percent by end-June, below the government’s projected 4 percent because of political instability, the...

Saudi oil exports fell to 7.06m bpd in December 18 Feb 2013 - 06:26 am

DUBAI: Saudi crude exports fell for the fourth month running in December, but the fall in shipments was less dramatic than the drop...

Nakheel in talks to extend $2.18bn loan: Report 18 Feb 2013 - 06:26 am

Dubai: Developer Nakheel is in talks to extend Dh8bn ($2.18 bn) in loans due in 2015, the indebted company’s chairman was quoted as...

Aldar lifts Abu Dhabi; most regional markets dip on profit-taking 18 Feb 2013 - 06:25 am

DUBAI: Shares in Abu Dhabi’s Aldar Properties helped lift the emirate’s benchmark to a 39-month high, with investors expecting strong dividend payouts, while...

France woos UAE over Rafale fighter jet deal 18 Feb 2013 - 05:47 am

ABU DHABI: France’s senior defence industry lobbyist said yesterday he was confident the United Arab Emirates would buy Rafale fighter jets by 2015-2016,...

Abu Dhabi lays foundation for Pakistan property project 18 Feb 2013 - 05:47 am

ABU DHABI: A member of Abu Dhabi’s royal family says he plans to spend $45bn over up to 15 years on a real...

KFH Q4 net profit rises but misses estimates 18 Feb 2013 - 05:47 am

KUWAIT: Kuwait’s biggest Islamic lender, Kuwait Finance House (KFH) reported a 24 percent rise in fourth-quarter net profit yesterday thanks to its restructuring...

Jordan’s Arab Potash profit falls by a third 18 Feb 2013 - 05:47 am

AMMAN: Jordan’s Arab Potash Company, one of the world’s largest producers of potash, said 2012 net profit fell by more than a third...

Etihad needs to revise Jet Airways deal: Chairman 18 Feb 2013 - 05:46 am

ABU DHABI: Etihad Airways needs to revise its deal to buy a stake in India’s Jet Airways and it is too soon to...

G20 steps back from currency brink 17 Feb 2013 - 04:53 am

MOSCOW: The Group of 20 nations declared yesterday that there would be no currency war and deferred plans to set new debt-cutting targets,...

Air Arabia Q4 net profit rises 6pc 17 Feb 2013 - 04:52 am

ABU DHABI: UAE budget carrier Air Arabia reported a 6 percent rise in fourth quarter net profit yesterday, helped by a rise in...

Cameron may fly into Shell India tax dispute 16 Feb 2013 - 05:08 am

LONDON: Oil company Royal Dutch/Shell has asked the British government to raise the subject of a tax dispute with India during Prime Minister...

DIFC sees growth in Asia, Africa 15 Feb 2013 - 11:15 am

DUBAI: The Dubai International Financial Centre (DIFC), a business zone, says it aims to double the number of companies there over five years...

Omantel profit falls as text messaging loses appeal 14 Feb 2013 - 12:09 am

DUBAI: Oman Telecommunications (Omantel) reported a 10 percent fall in fourth-quarter profit, missing analysts’ estimates as revenue from text messages and international calls...