May 27, 2013
Petroleum Development Oman (PDO) has signed a US$30mn contract with Schlumberger, a leading international oilfield services company, which will increase the amount of Omani-made materials used in the oil and gas sector.
Al Maabar International Investments, which is implementing the $10 billion Marsa Zayed project in Aqaba, on Sunday announced awarding contracts to build two large projects in Amman and Aqaba.
The UAE’s April oil output stood at 2.70 million barrels per day (bpd), unchanged from March, according to latest figures from the Paris-based International Energy Agency (IEA).
May 26, 2013
Majid Al Futtaim Holding, which bought Carrefour's 25 per cent stake in its Middle East joint venture, may buy part of the Spinneys supermarket franchise to expand its retail offerings across the region.
Arabtec Holding announced that its joint venture between Arabtec Saudi Arabia and Greece’s Terna has been awarded a SR 404 million ($107 million)contract by Aldara Medical Corporation to build Aldara Hospital and Medical Center, a 105-bed hospital in Riyadh.
A senior Iranian legislator said the Iranian type of the US drone which was tracked and hunted down in Iran late in 2011 will have its first flight in the near future.
Investment Corporation of Dubai (ICD), the holding company for some of the emirate's best-known companies, may increase the size of a $2 billion loan after significant interest in the deal from lenders, banking sources said.
The Saudi stock market slumped yesterday, reversing after a 6-day surge and dropping more than 29 points for the day.
Egypt will refund taxes collected from Qatar National Bank's acquisition of National Societe Generale Bank to shareholders on Sunday, an official from a clearing company told Reuters on Saturday.
BMI Bank, a Bahrain-based associate of bank muscat, announced that it has agreed, in principle, in favour of a merger with Al Salam Bank Bahrain (ASBB), an Islamic bank incorporated in Bahrain.
Issuance of debt securities saw a strong pick up during the first quarter of 2013 on the back of healthy activity by the non-financial sector in Saudi Arabia and UAE banks, according to the latest research from the National Bank of Kuwait (NBK).
International Finance Corp, a unit of the World Bank, is launching with several partners an investment facility worth up to $400 million for the MENA as it tries to spur lending to the region’s large pool of SMEs
Total lending by Oman's commercial banks grew 8.7 per cent in the first quarter of this year to RO14.28bn as compared to RO13.14bn a year ago.
National Bank of Abu Dhabi (NBAD), Abu Dhabi’s biggest lender by assets said yesterday it has issued $465 million senior unsecured convertible bonds, convertible into ordinary shares of NBAD. The issue was more than three times oversubscribed.
May 23, 2013
South Sudan's oil minister said late on Wednesday that it had resumed oil production and flow to the international markets through the territory of neigbouring Sudan after a temporary blockage at Jebellen.