Business / Middle East Business

Massive demand for Sharjah’s debut sukuk 11 Sep 2014 - 12:48 am

DUBAI: The emirate of Sharjah attracted massive demand at its first international debt sale yesterday, drawing investor orders worth more than ten times...

Kuwait woos foreign investors by suspending offset scheme 10 Sep 2014 - 12:24 am

Kuwait’s Minister of Finance Anas Al Saleh speaks at the opening of the Euromoney Conference in Kuwait City yesterday. KUWAIT: Kuwait has suspended...

Opec pain threshold in view as oil dips 09 Sep 2014 - 12:53 am

LONDON/DUBAI: Oil’s slide below $100 a barrel yesterday brings prices closer to levels where more Opec countries face financial worries, prompting some in...

Sukuk issuance in Gulf region declines 09 Sep 2014 - 12:48 am

DOHA: Issuance of corporate and infrastructure sukuk (securities that conform with Islamic law) has trended downward this year in the Gulf region and...

Political unrest to hit HK economy: Moody’s 09 Sep 2014 - 12:43 am

HONG KONG: Ratings agency Moody’s warned yesterday prolonged discord in Hong Kong over China’s refusal to grant the key financial hub full democracy...

Tunisia seeking investors for $6.8bn projects 09 Sep 2014 - 12:43 am

GAMMARTH, Tunisia: Tunisia is seeking foreign investors for $6.82bn worth of infrastructure and development projects, as the government tries to prop up its...

UAE credit bureau starts issuing consumer data to banks 09 Sep 2014 - 12:41 am

ABU DHABI: A federal credit bureau in the United Arab Emirates has begun issuing credit information about consumers to banks and financial institutions...

Nissan to pay tribute to Bathurst 1000 pole position 09 Sep 2014 - 12:40 am

Dubai: Nissan and Norton will celebrate the 30th anniversary of Nissan’s first Bathurst 1000 pole position at the Supercheap Auto Bathurst 1000 this...

Iraq signs revised oil contracts 07 Sep 2014 - 11:45 pm

A worker rides a bicycle at the Halfaya oilfield in Amara, southeast of Baghdad. Iraq signed revised contracts with foreign oil companies for...

Top Dubai refiner obeying conflict gold rules: Audit 05 Sep 2014 - 01:15 am

DUBAI: Dubai’s biggest gold refiner is following international guidelines to prevent underground trade in the metal, an independent audit has found after allegations...

TAQA may sell assets this year 05 Sep 2014 - 01:12 am

ABU DHABI: Abu Dhabi National Energy Co (TAQA), the state-owned explorer and power supplier, may sell assets this year and has picked two...

Israel in talks for $15bn Jordan gas supply 03 Sep 2014 - 11:29 pm

TEL AVIV: Israel is in advanced negotiations to supply natural gas from its vast Leviathan field to Arab peace partner Jordan under a...

Volpe named Infiniti Global Director for Formula One 03 Sep 2014 - 11:28 pm

Dubai: Infiniti has appointed Tommaso Volpe its new Formula One Global Director, effective September 1, 2014. Volpe will be responsible for Infiniti’s entire...

Toyota sells over 350,000 in Mideast in first half 03 Sep 2014 - 11:28 pm

Doha: Toyota yesterday announced a steady growth in sales in the Middle East (GCC, Yemen, Lebanon, Jordan and Iraq) selling 356,805 units in...

New screening method for sukuk compliance 02 Sep 2014 - 10:42 pm

Dubai: A new screening method for sukuk (Islamic bonds), developed in cooperation with Saudi Arabian financial institutions, aims to reduce the cumbersome approval...

Ooredoo to add pre-paid customers in Myanmar 01 Sep 2014 - 10:56 pm

DUBAI: Ooredoo will focus on adding more pay-as-you-go subscribers in Myanmar a few weeks after it launched operations, the unit’s CEO said yesterday,...

Sharjah to hold investor meeting 01 Sep 2014 - 10:18 pm

DUBAI: The Gulf Arab emirate of Sharjah will arrange investor meetings this week and next in Asia, the Middle East and Europe ahead...

Egypt keeps key interest rates unchanged 01 Sep 2014 - 10:17 pm

CAIRO: Egypt’s central bank kept its overnight deposit and lending rates at 9.25 percent and 10.25 percent respectively yesterday, as widely expected given...