Business / Middle East Business

Saudi budget pegs oil price at $60: Analysts 29 Dec 2014 - 12:06 am

DUBAI: Saudi Arabia’s 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a...

No need for sovereign fund: Saudi minister 27 Dec 2014 - 01:49 am

RIYADH: Saudi Arabia’s finance minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil...

Saudi lifts spending in 2015 budget 26 Dec 2014 - 12:34 am

Saudi Crown Prince Salman bin Abdulaziz (centre) chairing a cabinet session in Riyadh to approve the state’s budget for 2015. DUBAI: Saudi Arabia...

Egyptian pound steady on official and unofficial markets 25 Dec 2014 - 01:33 pm

CAIRO-- The Egyptian pound held steady at a central bank dollar sale on Thursday and on the black market. The bank offered $40...

Saudi issues 'final warning' on high-speed rail project 24 Dec 2014 - 10:57 pm

JEDDAH, Saudi Arabia - Saudi Arabia has given a "final warning" to avoid delays on an $8.2 billion high-speed rail project which Spanish...

US jobless claims drop for fifth week in a row 24 Dec 2014 - 09:46 pm

Initial jobless claims, a sign of the pace of layoffs, totalled 280,000 in the week ending Dec 20, down 9,000 from the previous...

Kuwait commissions new gas processing plant 24 Dec 2014 - 09:27 pm

KUWAIT CITY - Kuwait has commissioned a new natural gas plant that will raise the energy-rich state's production capacity to more than 2...

Turkey bank defies Erdogan to hold rates 24 Dec 2014 - 09:08 pm

ANKARA - Turkey's central bank on Wednesday kept its main interest rates unchanged, defying pressure from President Recep Tayyip Erdogan for a cut...

Turkey holds rates again despite Erdogan pressure 24 Dec 2014 - 08:34 pm

ANKARA - Turkey's central bank on Wednesday kept its main interest rates unchanged, again resiting pressure from President Recep Tayyip Erdogan for a...

Kellogg and Abraaj up bids in battle for Egypt's Bisco Misr 24 Dec 2014 - 07:56 pm

By Stephen Kalin and Ehab Farouk CAIRO - Kellogg Co, the world's largest breakfast cereal maker, once again raised its bid for Egyptian...

Egypt would not be affected by a Russian wheat export ban 24 Dec 2014 - 07:20 pm

CAIRO - Egypt, the world's largest wheat importer, would not be affected by any Russian ban on wheat exports as it has alternative...

Turkish central bank keeps rates unchanged 24 Dec 2014 - 03:38 pm

ISTANBUL--Turkey's central bank left its main interest rates unchanged on Wednesday, opting to keep policy tight as it awaits a sustained improvement in...

Oman promises to boost tourism 24 Dec 2014 - 09:52 am

MUSCAT--From desert camping to luxury hotels, turtle-watching, and even the Arabian Peninsula's first Italian-style opera house, Oman is hoping to carve out a...

Iraq’s Dec oil exports rise towards record level 23 Dec 2014 - 11:39 pm

LONDON: Iraq’s oil exports are rising in December towards a record high, according to loading data and industry sources, as Opec’s second-largest producer...

Iraqi cabinet approves $102.5 bn budget for 2015 23 Dec 2014 - 08:45 pm

Iraqi labourers walk past an oil tanker docked at a floating platform BAGHDAD - The Iraqi cabinet on Tuesday approved a $102.5 billion...

Iraq's oil export rise in December towards record 23 Dec 2014 - 05:10 pm

LONDON- Iraq's oil exports are rising in December towards a record high, according to loading data and industry sources, as OPEC's second-largest producer...

Iraq to start work on final oil deal with Kurdish region 23 Dec 2014 - 12:54 am

ABU DHABI: Iraq’s Kurdish region will continue to export its own crude oil under an initial deal with Baghdad until a comprehensive deal...

Lufthansa launches new first and business class on Doha sector 22 Dec 2014 - 08:49 am

DOHA: Passengers flying out of Doha can now experience further comfort and convenience on board Lufthansa German Airlines with the new First Class...