Business / Middle East Business

GSK probing corruption in UAE 08 Oct 2014 - 01:12 am

LONDON: Drugmaker GlaxoSmithKline, which was slapped with a record $489m fine for corruption in China last month, said yesterday it was looking into...

Walt Disney rescues Euro Disney with $1.3bn 07 Oct 2014 - 04:00 am

Disney character Mickey posing in front of the Sleeping Beauty Castle at Disneyland park, in Chessy, near Marne-la-Vallee, outside Paris. LONDON/PARIS: Walt Disney...

GCC equity market projected to remain positive 03 Oct 2014 - 02:57 am

DOHA: Driven by the region’s BIG 3 — Qatar, Saudi Arabia and UAE — the GCC equity market will remain overweight for the...

Saudi’s NCB to raise $6bn in IPO 03 Oct 2014 - 02:56 am

DUBAI: Saudi Arabia’s National Commercial Bank plans to raise SR22.5bn ($6bn) in a flotation this month, it said, the biggest ever share sale...

Kuwait in talks with five oil firms to develop major fields 03 Oct 2014 - 02:55 am

DUBAI: Kuwait is in talks with five major oil companies to help boost crude production and develop some of its oilfields including Burgan,...

NBK sells 30pc stake in IBQ for $538m 03 Oct 2014 - 02:55 am

DUBAI: National Bank of Kuwait has sold its 30 percent stake in unlisted International Bank of Qatar for 155m dinars ($538m) after being...

Mena digital universe to grow by over 600pc 02 Oct 2014 - 02:03 am

Doha: The digital universe in the Middle East and North Africa (Mena) will grow from 249 exabytes in 2014 to 1835 exabytes by...

Egypt Qalaa eyes $560m capital boost 02 Oct 2014 - 12:36 am

CAIRO: Egypt’s Qalaa Holding is considering a share issue worth some 4bn pounds ($560m) as part of efforts to tighten control of its...

Dubai Investment Corp seeks more business with Africa’s Dangote 02 Oct 2014 - 12:35 am

DUBAI: Investment Corporation of Dubai (ICD) is exploring further investment opportunities with African conglomerate Dangote Group, the chief executive of the emirate’s fund...

Sisi makes fast start on reforms 01 Oct 2014 - 09:44 am

CAIRO: In his first 100 days in office, Egyptian President Abdel Fattah Al Sisi has made a fast start on economic reform: slashing...

GCC ports set to face logistic pressure 30 Sep 2014 - 01:06 am

DOHA: Faced by a booming trade demand, the GCC’s logistic sector is set to pile enormous pressure on the ports across the region....

Arabian MEP wins Infrastructure Project award 30 Sep 2014 - 12:57 am

Doha: Arabian MEP, a Grade – A Qatari Engineering Services Contractor, has been announced as the winner of ‘Infrastructure Project of the Year...

GCCIA joins GO-15 power grid 30 Sep 2014 - 12:39 am

DOHA: The GCC Interconnection Authority (GCCIA) yesterday officially announced that it had joined the GO-15 Reliable and Sustainable Power Grids, which represents 80...

Gulf Air to begin flight between Kuwait & Larnaca 30 Sep 2014 - 12:38 am

Doha: Following its recent commencement of direct services between Kuwait City and Istanbul, Gulf Air, the national carrier of the Kingdom of Bahrain,...

Dana Gas wins Egypt gas exploration deals 30 Sep 2014 - 12:37 am

DUBAI: United Arab Emirates energy firm Dana Gas said yesterday that it had been awarded exploration deals for two onshore gas blocks in...

Jordan eyeing 3.3pc growth this year: IMF 30 Sep 2014 - 12:27 am

AMMAN: Jordan’s economy is resilient despite regional tensions in Syria and Iraq and violence in Gaza, with growth of over 3 percent projected...

Egypt to invest $14.5bn in petrochemicals, refining 29 Sep 2014 - 01:19 am

CAIRO: Egypt plans to invest $14.5bn in developing its refining and petrochemicals sectors over the next five years, its oil minister said, as...

Kuwait budget surplus up in last fiscal as spending slows 29 Sep 2014 - 01:01 am

DUBAI: Kuwait’s budget surplus edged up to KD12.9bn ($44.8bn) in the fiscal year to last March as government spending fell, largely because of...