Business / Middle East Business

Saudi Arabia to sell less than 5% of Aramco, create $2 trillion fund 25 Apr 2016 - 02:35 pm

Al Arabiya interview. Riyadh: Saudi Arabia will sell shares in state oil giant Aramco and set up the world's largest wealth fund under...

Saudi investment fund will turn kingdom into a global player: Mohammed bin Salman 25 Apr 2016 - 02:32 pm

Screenshot from Alarabiya Tv Channel. RIYADH: Saudi Arabia's new investmentfund will turn the world's top oil exporter into a globalinvestment power, Deputy Crown...

Less than 5% of Aramco to be sold: Mohammed bin Salman 25 Apr 2016 - 02:19 pm

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman reacts upon his arrival at the Elysee Palace in Paris, France, June 24, 2015. REUTERS/Charles...

Saudi Cabinet approves vast economic reform plan 25 Apr 2016 - 02:01 pm

Riyadh: The Saudi government on Monday approved a plan for vast economic reforms dubbed "Saudi Vision 2030" to substantially reduce the OPEC kingpin's...

IMF urges Gulf states to adapt to lower oil prices 25 Apr 2016 - 08:51 am

File picture of IMF regional chief Masood Ahmed. Reuters Dubai: The International Monetary Fund forecast Monday economic growth in the six-nation Gulf Cooperation...

Dubai’s GEMS Education to raise $250 million for expansion 25 Apr 2016 - 12:00 am

By Arif Sharif and Matthew Martin GEMS Education, one of the world’s biggest operators of private schools, raised a $250 million loan to...

Emirates' Antinori declines Air France-KLM CEO position 24 Apr 2016 - 06:55 pm

Thierry Antinori (file photo/reuters) By Deena Kamel Yousef Emirates’ Chief Commercial Officer Thierry Antinori declined an offer to be chief executive officer at...

Iraq signs strategic agreement with GE to boost power grid 24 Apr 2016 - 05:32 pm

BAGHDAD: Iraq's Oil Ministry said on Sunday it had signed a long-term "strategic framework agreement" with General Electric which comprised several projects to ...

Dubai's troubled Arabtec hires AlixPartners for review - sources 24 Apr 2016 - 03:48 pm

DUBAI/ABU DHABI: - Loss-making Dubai contractor Arabtec's board has hired restructuring advisory firm AlixPartners to help it strengthen its capital structure and reform...

National Bank of Kuwait gets regulatory nod for capital raise 24 Apr 2016 - 09:45 am

DUBAI: National Bank of Kuwait said on Sunday it had received approval from the country's Capital Markets Authority for its proposed capital increase....

Saudi Arabia close to securing $10 billion bank loan - sources 20 Apr 2016 - 10:52 am

DUBAI: Saudi Arabia is close to securing a $10 billion loan from banks, sources told Reuters on Wednesday, as the world's top oil...

Iran struggles to find enough ships for oil exports 20 Apr 2016 - 09:15 am

Malta-flagged Iranian crude oil supertanker ''Delvar'' is seen anchored off Singapore March 1, 2012. REUTERS/TIM CHONG By Jonathan Saul and Parisa Hafezi LONDON: ...

Gulf shares may pull back after oil drops 20 Apr 2016 - 08:38 am

Dubai: A retreat in crude oil prices may erase some of Gulf bourses' recent gains on Wednesday, but some stocks may continue to...

Iran's crude oil exports show rise in April 19 Apr 2016 - 02:16 pm

Iran has boosted its crude oil exports so far in April to around 1.75 million barrels per day, according to an industry source...

Saudi Arabia to announce post-oil plan on April 25 18 Apr 2016 - 10:19 am

Jeddah: Saudi Arabia will announce a comprehensive economic plan for the country's post-oil era on April 25, Deputy Crown Prince Mohammed bin Salman...

Saudi's SAFCO Q1 net profit dips 51.5 pct, misses estimates 17 Apr 2016 - 04:35 pm

DUBAI: Saudi Arabia Fertilizers Co (SAFCO) missed analysts' forecasts and extended its earnings slump, reporting a 51.5 percent decline in first-quarter net profit...

Saudi's Arab National Bank Q1 profit beats forecasts despite 2.8 pct dip 17 Apr 2016 - 04:25 pm

DUBAI: Arab National Bank, Saudi Arabia's seventh-largest lender by assets, reported a 2.8 percent fall in first-quarter profit on Sunday, but still beat ...

Yansab Q1 net profit up 41 pct - statement 13 Apr 2016 - 04:17 pm

DUBAI: Saudi Arabia's Yanbu National Petrochemical Co (Yansab) reported a 41 percent rise in first-quarter net profit on Wednesday, beating analysts' forecasts. The...