Business / Middle East Business

GCC continues to propel KPMG’s growth 17 Dec 2012 - 04:23 am

DOHA: KPMG International (KPMG) has announced record-high combined revenues of $23.03bn for the fiscal year ending September 30, 2012, representing a 4.4 percent...

UAE central bank delays exposure, liquidity rules 17 Dec 2012 - 04:23 am

ABU DHABI: The central bank of the United Arab Emirates has postponed introducing restrictions on commercial banks’ exposure to state-linked debt and requirements...

Iran oil revenues down by half this year, says reportIran oil revenues down by half this year, says report 17 Dec 2012 - 04:23 am

DUBAI: Iran’s oil revenues have been cut in half this year compared with last year, a newspaper quoted Iran’s economic minister as saying,...

Boeing delivers first new jet to Iraq in decades 16 Dec 2012 - 01:14 am

BAGHDAD: The first new Boeing Co jetliner sold to Iraq in 30 years touched down in Baghdad yesterday, signalling the country’s determination to...

Saxo Bank’s direct API solution records strong growth 15 Dec 2012 - 12:43 am

London: Saxo Bank, the online multi-asset trading and investment specialist, announced an increase in monthly average FX volumes of nearly 600 percent compared...

Strong demand likely to prompt Qtel to rethink $1bn bond cap 13 Dec 2012 - 07:55 am

DUBAI: Strong global demand for Qatar Telecom’s imminent 10-year bond offering could prompt the company to reconsider its decision to cap the issue...

Iran stock rally defies economic slump 13 Dec 2012 - 07:46 am

DUBAI: Iranian share prices have rallied 40 percent in the past four months, at odds with the country’s deteriorating economic fundamentals under the...

Dubai Group in talks to sell Omani stake 13 Dec 2012 - 07:44 am

DUBAI/MUSCAT: Dubai Group, an investment vehicle restructuring $10bn of debt, is in talks to sell its stake in Oman National Investment Corp Holding ...

IMF loan to Egypt delayed amid political turmoil 12 Dec 2012 - 01:17 am

CAIRO: A vital $4.8bn International Monetary Fund loan to Egypt will be delayed until next month, its finance minister said yesterday, intensifying the...

UAE sets royalty rates for telecom firms 11 Dec 2012 - 01:46 am

DUBAI: The United Arab Emirates has set new tax, or royalty, rates for telecom operators in a move seen designed to protect state...

Islamic banking assets to cross $1.8 trillion 11 Dec 2012 - 01:38 am

Dubai: Global Islamic banking assets held by commercial banks are set to cross $1.8 trillion in 2013, up from the $1.3 trillion of...

Falcon eyes more buys after Clariden deal 11 Dec 2012 - 01:32 am

DUBAI: Falcon Private Bank, the Abu Dhabi-owned entity which bought the London unit of Clariden Leu, is eyeing more acquisitions in the boutique...

Dana Gas sets out restructured sukuk terms 11 Dec 2012 - 01:26 am

DUBAI: Dana Gas, the first UAE group to default on an Islamic bond, is offering bondholders $70m in cash and an average eight...

Azerbaijan bank plans $150m Islamic loan 10 Dec 2012 - 12:20 am

MANAMA: International Bank of Azerbaijan (IBA), the country’s biggest lender, plans to raise $150m through an Islamic syndicated loan early next year and...

Dubai announces first residential project in MBR City 09 Dec 2012 - 11:54 pm

DUBAI: Dubai developer Emaar Properties and an arm of Dubai Holding launched the first project in a planned multi-billion dollar flagship development yesterday...

Egypt bourse index tumbles by 4.6pc 07 Dec 2012 - 01:23 am

DUBAI: Egypt’s bourse tumbled yesterday after clashes between political parties killed five, spooking regional investors, while other Gulf markets were lackluster. Worsening political...

Abu Dhabi’s Taqa to raise $2bn from bond 06 Dec 2012 - 02:31 am

ABU DHABI: Abu Dhabi National Energy Co (Taqa), the state-owned firm buying some of BP’s North Sea assets, will raise $2bn from its...

Iran gas not covered by US sanctions, says Turkey 05 Dec 2012 - 08:36 am

ISTANBUL: Turkey does not expect tighter US sanctions to apply to its natural gas imports from Iran, its energy minister said yesterday, which...