Business / Middle East Business

Turkish PM: 'Coup attempt did not hit economy' 13 Aug 2016 - 11:55 am

Binali Yildirim. Reuters Ankara: Turkish Prime Minister Binali Yildirim has reiterated the deadly July 15 coup attempt "did not hit Turkey's economy," adding...

Egypt needs $5-6 bln in bilateral financing to seal IMF deal: mission chief 12 Aug 2016 - 12:00 am

IMF official Chris Jarvis at a news conference in Cairo, Egypt August 11, 2016. REUTERS/Mohamed Abd El Ghany By Lin Noueihed CAIRO: Egypt’s...

Saudi Aramco appoints chief of sovereign wealth fund to board 10 Aug 2016 - 06:40 pm

KHOBAR, Saudi Arabia: State oil giant Saudi Aramco has appointed to its board Yasir al-Rumayyan, managing director of its top sovereign wealth fund,...

Saudi to open stock market wider to foreigners on Sept 4 10 Aug 2016 - 05:28 pm

RIYADH: Saudi Arabia will ease restrictions on foreign investment in its securities markets next month, sooner than previously indicated, in an effort to...

Turkish lira seen weakening further but no Russia-style rout 04 Aug 2016 - 12:57 pm

A money changer counts Turkish lira bills at an currency exchange office in central Istanbul, Turkey, August 21, 2015. REUTERS/Murad Sezer Turkish lira...

Saudi govt discussing rescue of construction company Oger -report 03 Aug 2016 - 12:01 pm

Labourers work at the construction site of a building in Riyadh (file photo/REUTERS/FAISAL AL NASSER) DUBAI: Saudi Arabia's government is discussing a proposal...

Abu Dhabi's Aldar Properties Q2 net profit up 10 pct 02 Aug 2016 - 01:15 pm

(Photo: Aldar) By Stanley Carvalho and David French ABU DHABI/DUBAI: Aldar Properties reported a 9.7 percent rise in second-quarter net profit on Tuesday,...

Coup costs Turkey economy $100 billion: Minister 02 Aug 2016 - 01:11 pm

Two Children wave Turkish flag. (Burak Milli - Anadolu Agency) Istanbul: The foiled coup attempt seeking to unseat the government of President Recep...

Ras al-Khaimah accuses businessman of embezzling $1.5 billion 01 Aug 2016 - 05:21 pm

DUBAI, United Arab Emirates: Ras al-Khaimah, part of United Arab Emirates, on Monday accused a businessman who once had ties to its ruler...

Libya’s NOC welcomes opening of ports, aims for 900,000 bpd by year-end 01 Aug 2016 - 12:00 am

The building housing Libyan state oil energy firm the National Oil Corporation is seen in Tripoli, February 22, 2016. Reuters / Ismail Zitouny ...

Dubai billionaire businessman Alabbar behind Aramex stake buys -source 31 Jul 2016 - 06:31 pm

(Photo: Aramex) By Tom Arnold DUBAI: Billionaire Dubai businessman Mohamed Alabbar led two investor groups that recently bought a combined 16.45 percent stake...

Dubai's Emaar Properties Q2 net profit up 8 pct on higher revenue 31 Jul 2016 - 03:31 pm

By David French DUBAI: Dubai’s Emaar Properties , builder of the world’s tallest tower, reported an 8 percent rise in second-quarter net profit...

UAE telco du needs renewed prepaid momentum to end earnings slump - CEO 31 Jul 2016 - 12:27 pm

A man walks past a Du telecommunications advertisement in Deira in Dubai. (File photo / Reuters) By David French DUBAI: Du needs to...

Insight: Iran’s global banking problems deepen with rise of Trump, Brexit 30 Jul 2016 - 12:00 am

A money changer displays U.S. and Iranian banknotes at the Grand Bazaar in central Tehran October 7, 2015. To match Insight IRAN-BANKING/ REUTERS/Raheb...

Insight: Turkey’s investment grade hangs in balance as post-coup purges deepen 29 Jul 2016 - 12:00 am

Men sit outside a discount clothing retail store in Istanbul, Turkey, July 13, 2016. REUTERS/Murad Sezer Purges raise concern about institutional weakening Moody’s...

Quarterly profits fall at UAE banks NBAD and FGB as bad loans weigh 27 Jul 2016 - 05:48 pm

A man walks into a branch of First Gulf Bank along Khalid Bin Al-Waleed Road in Dubai January 4, 2012. (REUTERS/NIKHIL MONTEIRO) By...

UAE Etisalat telecoms profit surge 51% in Q2 27 Jul 2016 - 05:15 pm

Customers wait inside an Etisalat store at a shopping mall in Dubai. (Reuters) Abu Dhabi: UAE telecoms giant Etisalat announced Wednesday net profits...