Business / Middle East Business

Saudi Aramco sets January propane price at $435 per tonne 29 Dec 2016 - 11:20 am

DUBAI: State-run Saudi Aramco has set its January contract price for propane at $435 a tonne, up from $380 in December, the company...

Saudi Arabia to raise up to $15bn from bond markets 25 Dec 2016 - 10:06 pm

Dubai: Saudi Arabia laid out key elements of its borrowing plans for 2017 as the kingdom seeks to capitalise on investor demand for...

State budget boosts Saudi stocks while rest of Gulf sluggish 25 Dec 2016 - 09:59 pm

Dubai: Saudi Arabia’s stock market rose sharply on Sunday in response to the release of the 2017 state budget, which includes an increase...

Etisalat & Mobily discuss new alliance 25 Dec 2016 - 09:41 pm

Dubai: United Arab Emirates telecommunications conglomerate Etisalat said on Sunday that its management agreement with Saudi Arabian affiliate Mobily had expired and the...

Saudi Aramco plans to sell up to 49 pct over 10 yrs 24 Dec 2016 - 02:37 pm

DUBAI: State oil giant Saudi Aramco plans to sell 49 percent of its shares over the next 10 years, Saudi newspaper al-Eqtisadiah reported...

Saudi eyes $53bn plan for private sector 24 Dec 2016 - 12:14 am

Riyadh: Saudi Arabia’s government plans to provide 200bnn riyals ($53bn) of incentives to the private sector over the next four years in its...

Saudi budget shows effort to win support for change 23 Dec 2016 - 11:29 pm

Saudi officials presented the most detailed budget in the country’s history in an effort to convince citizens and investors that they’re serious about...

Saudi Arabia deficit persists but lower than expected 22 Dec 2016 - 07:42 pm

Riyadh: OPEC kingpin Saudi Arabia on Thursday projected another budget deficit in 2017 but reported a less-than-expected shortfall for this year after cutbacks...

Saudi may achieve budget surplus by 2020: finance minister 22 Dec 2016 - 06:26 pm

DUBAI: Saudi Arabia expects to have at least balanced its budget by 2020 and may even post a surplus, Finance Minister Mohammed al-Jadaan...

Oman's utility company EHC raises $325m loan: CFO 20 Dec 2016 - 09:49 pm

Dubai: Oman's Electricity Holding Company (EHC) has signed an agreement for a $325m working capital loan, the state-owned company's finance chief said yesterday....

Turkey unexpectedly holds interest rates 20 Dec 2016 - 09:28 pm

Ankara: Turkey’s central bank unexpectedly kept all of its three main interest rates unchanged, a decision viewed by analysts as an attempt to...

Joy Alukkas recognised as 'Business Innovator' at NDTV Awards 20 Dec 2016 - 01:15 am

Joyalukkas Group Chairman & MD, Joy Alukkas was recognised as “Business Innovator” at the NDTV Gulf Indian Excellence Awards 2016, held on December...

Dubai’s Nakheel expects higher 2016 profit 20 Dec 2016 - 01:01 am

Dubai’s Nakheel expects higher 2016 profitDubai property developer Nakheel expects 2016 annual net profit to exceed the 4.4bn dirhams ($1.2bn) it made last...

SABIC drops on smaller H2 dividend plan 20 Dec 2016 - 01:01 am

Shares in Saudi Basic Industries drop 1.6 percent to 93.75 dirhams. Company’s board proposed paying cash dividend of 2 riyals per share for...

Egypt says around 1 mln hectares cultivated with wheat this year 19 Dec 2016 - 07:20 pm

CAIRO: Egyptian Agriculture Minister Essam Fayed told lawmakers on Monday that 2.4 mln feddans (around 1 mln hectares) were cultivated with wheat this...

Firmer oil prices push up Gulf indexes 19 Dec 2016 - 12:43 am

Stock markets in the Gulf made small gains yesterday morning after crude oil prices climbed back towards 17-month highs at the end of...

Oman central bank says won't blindly follow Fed's rate decision 18 Dec 2016 - 12:17 pm

MUSCAT: Oman's central bank won't automatically imitate last week's interest rate hike by the U.S. Federal Reserve, central bank executive president Hamood Sangour...