Libya gas exports to Italy halted after militias clash
Gas exports to Italy from the Mellitah complex in northwestern Libya have been suspended since Saturday following clashes between militias in the area, an official at the National Oil Corporation (NOC)...
View ArticleSaudi central bank says not worried by loan growth, inflation
The Saudi Arabian Monetary Agency is not concerned about current bank lending growth rates, and inflation is tolerable, the governor of the central bank, Fahad al-Mubarak, said on Sunday. Asked if he...
View ArticleNew Dubai firm to manage Islamic endowments
Dubai will host a new asset management firm specialising in awqaf (Islamic endowments), as the emirate seeks to become a global centre for the business of sharia-compliant charitable foundations,...
View ArticleIran rial strengthens after ‘positive’ nuclear talks
The Iranian currency jumped about 9 percent against the U.S. dollar because of apparent government intervention and a positive tone at nuclear talks between Iran and world powers, currency websites and...
View ArticleLebanon GDP growth hampered by Syria conflict: minister
Lebanon’s small, open economy is not expected to grow particularly fast in 2013 due to uncertainty caused by sectarian violence in neighboring Syria, economy and trade minister Nicolas Nahas said on...
View ArticleIraq to supply Egypt with 4 mln barrels of oil per month
Iraq has agreed to supply Egypt with 4 million barrels of oil per month, during a visit by Egyptian Prime Minister Hisham Qandil to Baghdad on Monday, Iraqi government spokesman Ali al-Moussawi said on...
View ArticleIraq’s Asiacell shares double bourse market cap
The market capitalization of the Baghdad bourse doubled in February to reach $9.2 billion, boosted by Asiacell share trading, which started in early February. As the first major flotation since a...
View ArticleStop-gap IMF loan could prove lifeline for Egypt
Egyptian President Mohamed Mursi is unlikely to find the political support needed to win a full-fledged International Monetary Fund bailout before elections begin in April, but he might be able to...
View ArticleEgypt has sent IMF invitation to loan talks: minister
Egypt has invited the International Monetary Fund (IMF) to visit and reopen loan negotiations, a government minister said on Tuesday, a step seen as crucial to ease an economic crisis stemming from two...
View ArticleDubai’s Emirates airline plans second bond sale this year
Emirates airline, Dubai’s flagship carrier, has hired six banks to arrange a potential dollar-denominated, benchmark sukuk sale, lead arrangers said on Wednesday, in what would be its second bond sale...
View ArticleUAE lender repays nearly half of govt support
Abu Dhabi-based Union National Bank on Wednesday said it repaid nearly half of the $871 million in federal government support it received after the global financial crisis in 2009. Abu Dhabi's...
View ArticleUAE-based Yacht company competing with global players
Yachts are toy for the rich, mostly seen on the beaches of St. Tropez and Monaco. A United Arab Emirates-based company is now one of the world’s top manufacturers. A big step when battling the likes of...
View ArticleAbu Dhabi Air Expo indicates continued growth of private aviation in Middle East
The Abu Dhabi Air Expo 2013, the only general aviation exhibition in the Middle East, attracted participation from 160 companies this week, signaling an increase in the demand for private jets....
View ArticleQantas defends itself after jumbo it sold went to Iran
Australia’s Qantas Saturday said it took all reasonable precautions in selling aircraft after a report revealed that a jumbo jet once owned by the carrier had ended up in Iran despite sanctions. The...
View ArticleQANTAS defends itself after jumbo it sold went to Iran
Australia’s Qantas Saturday said it took all reasonable precautions in selling aircraft after a report revealed that a jumbo jet once owned by the carrier had ended up in Iran despite sanctions. The...
View ArticleSaudi Arabia’s HSBC index is the strongest in the Gulf region
Saudi Arabia’s HSBC Purchasing Managers Index (PMI) for February tops the charts, in the Gulf region, with more than 58 points, a senior economist at the London-headquartered bank told Al Arabiya....
View ArticleEgypt’s urban inflation jumps due to pound's slide
Egypt’s urban consumer inflation shot up to 8.2 percent in the 12 months to February, statistics agency CAPMAS said on Sunday, as a sliding Egyptian pound pushed up food prices. The rate jumped from an...
View ArticleEgypt signs agreement to receive first tranche of U.S. aid
Egypt has signed an agreement with the United States to receive $190 million in aid, a local news site reported Sunday. The grant is considered to be the first tranche of the $1 billion aid package...
View ArticleIMF expected to visit Egypt in coming days according to state media
A team from the International Monetary Fund is expected to visit Egypt in the next few days for negotiations over a $4.8 billion loan, state media quoted a minister as saying on Tuesday. Egypt has been...
View ArticleEgypt’s OCI falls to 3-mth low on tax dispute woes
Egypt’s Orascom Construction Industries (OCI) fell to a near three-month low on Thursday on worries of an extended tax dispute with the government, weighing on the bourse, while Gulf markets closed...
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