Business / Middle East Business

New Saudi minister is believer in reform and low oil price 09 May 2016 - 10:03 am

Saudi Aramco Chief Executive Officer Khalid al-Falih speaks to the media at the company's booth during Petrotech 2014 (a petrochemicals conference) at the...

UAE cabinet approves creation of central Islamic finance authority 09 May 2016 - 09:43 am

DUBAI: The United Arab Emirates’ cabinet has approved the creation of a centralised sharia authority that will monitor and set standards for Islamic...

Saudi Housing Ministry says imposes annual tax on undeveloped lands 09 May 2016 - 12:00 am

RIYADH: Saudi Arabia's Housing Ministry said on Sunday it would impose an annual tax on undeveloped lands. The ministry said on its twitter...

Syrian pound hits lowest value in war 08 May 2016 - 06:54 pm

Damascus: Syria's currency hit its lowest value since the start of the country's five-year conflict on Sunday, having depreciated more than 92 percent,...

UAE, Japan Trade Stands at $15 Billion 08 May 2016 - 02:56 pm

Abu Dhabi: The volume of the UAE foreign trade with Japan stood at about $15 billion in 2015, accounting for one third of...

Saudi Arabia to maintain stable petroleum policies: Energy minister 08 May 2016 - 02:47 pm

ABU DHABI: Saudi Arabia's new energy minister said on Sunday the world's largest crude exporter is committed to meeting demand for hydrocarbons from...

New Saudi c.bank gov says main priority monetary stability 08 May 2016 - 08:23 am

Monetary stability is a priority for the Saudi Arabian central bank governor DUBAI: New Saudi Arabian Monetary Authority Governor Ahmed al-Kholifey said his...

Saudi Arabia appoints new central bank governor 07 May 2016 - 05:58 pm

Dr. Ahmed al-Kholifey RIYADH: Saudi Arabia Saturday appointed Dr. Ahmed al-Kholifey Saudi Arabian Monetary Authority Governor, promoting him from vice governor and replacing...

Saudi oil minister sacked in government shake-up 07 May 2016 - 05:53 pm

Ali al-Naimi (AFP) Riyadh: Saudi Arabia replaced its long-serving oil minister Saturday as part of a major government overhaul which comes as the...

Stalling of Turkish reforms would have negative impact on growth: Simsek 06 May 2016 - 02:05 pm

Deputy Prime Minister of Turkey Mehmet Simsek (R) shakes hands with the Minister of Economy and Competitiveness of Spain Luis de Guindos (L)...

Saudi allows Binladin Group tenders after layoffs: report 06 May 2016 - 12:00 am

Migrant workers, who work for Saudi Binladin Group, gather as they ask for a final settlement over salary issue, in Riyadh, Saudi Arabia...

Saudi govt lifts project bidding ban on Binladin: Report 05 May 2016 - 09:19 am

Logo of the Saudi BinLadin Group on their headquarters in Jeddah. AFP / MAHMOUD MAHMOUD RIYADH: The government is allowing major builder Saudi...

Joyalukkas wins Best Service Performance Brand award 05 May 2016 - 12:00 am

Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum honouring Joy Alukkas, Chairman, Joyalukkas, at a function in Dubai. Dubai: The eponymous Joyalukkas Jewellery...

Visitors from Qatar to Dubai increase by 26% in Q1 2016 05 May 2016 - 12:00 am

Doha: Dubai welcomed 4.1 million overnight visitors in the first three months of 2016, a 5.1% increase over the same period last year,...

Saudi Arabia weighs easing reserve rules for deposits, says IIF 04 May 2016 - 04:46 pm

By Arif Sharif Dubai: Saudi Arabia may reduce the reserves banks are required to hold against customer deposits to release more funds for...

Saudi oil minister visits Sudan to cement improving ties 04 May 2016 - 12:38 pm

Saudi Oil Minister Ali al-Naimi (L) speaks during a press conference following a meeting with Sudanese Oil Minister in Khartoum on May 4,...

Growth of Saudi non-oil private sector stalls in April 04 May 2016 - 10:16 am

Riyadh: Growth of Saudi Arabia’s non-oil private sector stalled in April, with business conditions improving at the slowest pace in three months. Output...

Bad loans and bankruptcies sound the alarm for Turkey's economy 04 May 2016 - 09:20 am

By Asli Kandemir ISTANBUL: After years of growth fuelled by credit and domestic consumption, bad debts and bankruptcies are rising in Turkey, squeezing...