Main headlines

June 5, 2013

International Bank of Azerbaijan (IBA)
13:10 GMT

International Bank of Azerbaijan (IBA), the country's biggest lender, plans to raise $100 million through an Islamic syndicated loan this year to develop Islamic banking in the country, the bank said in a statement.

Etisalat currently offers three different cloud Compute models
12:21 GMT

The new pay-as-you-go service called Cloud Compute was announced yesterday.

All but one of the 30 stocks in the index fell
12:15 GMT

Egypt's bourse dropped to a five-week low on Tuesday, making its biggest one-day loss in two months on increasing fears of political instability, while Gulf markets were mixed.

The services (EK087, EK088) will offer 1,100 more seats every week
11:29 GMT

Airline to introduce the double-decker aircraft from January amidst "robust demand" for business and leisure traffic.

While 1,842 of the total buildings were new, 137 were extensions to existing ones.
11:26 GMT

A total of 2,461 residential units were completed in Abu Dhabi during the first quarter of 2013, down 6.2 per cent compared to Q1 2012, according to official data from the Statistics Centre – Abu Dhabi (SCAD).

Bank Saderat Iran
11:12 GMT

A global network of private companies were blacklisted by the United States on Tuesday for providing revenue to the Iranian government's leadership and helping it evade the pinch from international sanctions on Tehran's nuclear program,

The Boston Consulting Group
06:00 GMT

Private financial wealth in the Middle East and Africa (MEA) is poised to grow 35 per cent to $6.5 trillion by 2017 driven by new wealth creation linked to strong economic expansion.

Mohammad Al-Hashel, the governor of the Central Bank of Kuwait
05:30 GMT

SINGAPORE: Islamic banks can help finance Asia’s burgeoning infrastructure investment needs while continuing to adhere to fundamental Sharia tenets, executives said yesterday.

Mohammad Sahoo Al Suwaidi (standing,left) Director for Gas Directorate Abu Dhabi National Oil Company (Adnoc) with seated (from left) Terry Willis of EIC Middle East, Robin Mills of Manaar Energy, Rafi Baghdjian of Shell Abu Dhabi, Dan Blanchard of BP Middle East and Steven Peacock of Mubadala Petroleum at the conference in Abu Dhabi on Tuesday.
05:00 GMT

Shell committed to delivering gas from Bab sour gas project by 2020.

June 4, 2013

Trade between the two countries has consistently increased over the last few years
13:28 GMT

Dubai Airport Freezone (DAFZA) recently hosted two seminars in Rome and Milan to boost the United Arab Emirates’ economic ties with Italy.

The destinations with highest traffic were India, Germany, Saudi Arabia, Thailand and Pakistan.
13:28 GMT

Traffic figures for the first four months of 2013 recorded a 14 per cent increase in passenger traffic compared to the same period last year.

The successful commissioning of the thermal enhanced oil recovery (EOR) plant in West Amal defines PDO's changing portfolio.
13:02 GMT

Nearly 22 per cent of Petroleum Development Oman's (PDO) oil production will be from enhanced oil recovery (EOR) by 2020, according to the head of new technology implementation at the company.

Its trading range expanded to 106 points as compared to 42 points of previous day
11:08 GMT

It turned out to be largely positive for investors yesterday, as Saudi Arabia’s benchmark stock index recorded a handsome gain of 1.14 percent, which is the highest increase during last two weeks.

SEC has a track record of receiving ongoing financial support from the government in the form of long-term soft loans.
11:06 GMT

Standard & Poor's Ratings Services (S&P) yesterday revised its outlook on Saudi Electricity Co. (SEC) to positive from stable.

A sales girl arranges gold necklaces in a shop in Huaibei, central China's Anhui province in this April 16, 2013 file photo. (AFP)
10:56 GMT

Gold jumped 2 percent yesterday, hitting its highest in more than two weeks, boosted by a tumbling dollar and disappointing US manufacturing data.