Business / Middle East Business

Saudi says close to major deals in $100bn housing scheme 03 May 2017 - 10:19 pm

Riyadh: Saudi Arabia is close to striking deals with South Korean and Chinese firms under a $100 bn project to build 1 million...

Kuwait Energy seeks premium listing on LSE 03 May 2017 - 10:30 am

LONDON: Oil and gas firm Kuwait Energy said on Wednesday it is seeking a premium listing on the London Stock Exchange in a...

SABIC eyes $3-$6bn acquisition 02 May 2017 - 10:16 pm

Dubai: Saudi Basic Industries Corporation (SABIC) is evaluating acquisition opportunities in the range of $3 to $6bn in the areas of petrochemicals, speciality...

Kuwait's Zain telecom profit rises slightly in Q1 02 May 2017 - 05:12 pm

Kuwait City: Kuwaiti telecoms giant Zain's net profit rose slightly in the first quarter of 2017 due to difficulties in some regional markets,...

Gulf Air on track for first Boeing 787-9 Dreamliner delivery 01 May 2017 - 12:59 pm

Gulf Air, Bahrain’s national carrier, is gearing up for the arrival of the airline’s first Boeing 787-9 Dreamliner aircraft which will be delivered...

Lebanon's Blom Bank posts Q1 profit of $112 mln 29 Apr 2017 - 10:43 am

BEIRUT: Lebanon's Blom Bank reported a 3.5 percent year-on-year rise in first-quarter net profit, it said in a statement on Saturday. Net profit...

Mosul businesses start reconstruction without waiting for final IS defeat 26 Apr 2017 - 03:21 pm

MOSUL, Iraq: Some businessmen in Mosul have begun rebuilding their shattered premises without waiting for financial support from the cash-strapped Iraqi government or ...

Gulf Air appoints Voyager as GSA in Georgia 25 Apr 2017 - 10:10 pm

Gulf Air, the Kingdom of Bahrain’s national carrier, has appointed Voyager Ltd as its General Sales Agent (GSA) in Georgia to represent the...

Tim Clark: Emirates' US flight cut 'not permanent' 21 Apr 2017 - 05:34 pm

A day after Emirates announced plans to cut flights to the United States by 20 percent, the airline's president has called its decision...

As Mideast looks past oil, spotlight shines on entrepreneurs 21 Apr 2017 - 04:56 pm

DUBAI, United Arab Emirates: A mobile app to track school buses, Arabic cooking videos on YouTube and even a portable bidet are finding...

Abu Dhabi's Mubadala secures $2.5 bln private equity investment from France's Ardian 20 Apr 2017 - 11:51 am

ABU DHABI: European fund manager Ardian will invest $2.5 billion in private equity funds run by Mubadala Capital, an arm of Abu Dhabi's...

Evercore hires Waleed as Advisor 18 Apr 2017 - 11:15 pm

Dubai: US boutique investment bank Evercore said it had hired Waleed El-Amir (pictured) as a senior adviser for the Middle East, Africa and...

Panasonic appoints new MD for Middle East & Africa 18 Apr 2017 - 10:56 pm

Panasonic Marketing Middle East & Africa, one of the global technology leaders, has announced the appointment of its new Managing Director Hiroki (Harris)...

Saudi likely to resume local debt issues: Al Jadaan 18 Apr 2017 - 10:43 pm

Rabat: Saudi Arabia is likely to resume domestic government debt issues within a couple of months, Finance Minister Mohammed Al Jadaan (pictured) said...

GE to supply equipment for Kuwait's Sabiya Power Plant 18 Apr 2017 - 10:22 pm

GE, the global engineering and tech giant, has announced to supply a steam turbine generator set and two heat recovery steam generators (HRSG),...

Dubai’s Emaar to reopen burned out hotel in Q4 18 Apr 2017 - 03:34 pm

DUBAI: Dubai’s Address Downtown hotel, which was damaged in a New Year’s Eve fire in 2015, will reopen in the fourth quarter, the...

Saudi Arabia says tax on tobacco, drinks to raise up to $2.7 bln 17 Apr 2017 - 04:23 pm

KHOBAR, Saudi Arabia: Saudi Arabia's government estimates a new tax on tobacco and sugary drinks will raise between 8 billion and 10 billion...

Saudi raises $9bn in global sukuk issue 13 Apr 2017 - 11:38 pm

Riyadh: Saudi Arabia raised $9bn in its first global Islamic bond issue, the government announced yesterday, a move analysts say could ease pressure...