DUBAI: The second tranche of a sukuk from Dubai's Nakheel will be 240 million dirhams ($65 million) in size, less than a quarter of the expected value, after the property developer persuaded trade creditors to accept a huge discount on their (...)
DUBAI: Pakistan Telecommunication (PTCL) should soon receive assets due to it as part of its partial privatization, its chief executive said, a development that could trigger an $800 million payment from shareholder Etisalat to the (...)
RAS AL-KHAIMAH, UAE: A holiday resort in the United Arab Emirates that will use the brand of nine-times European soccer champions Real Madrid has yet to finalize its funding options to build the $1 billion complex, the project's chief executive said (...)
DUBAI: Most Gulf Arab markets fell on Tuesday as an early-year rally gave way to consolidation, with investors now wanting to see if first-quarter results can justify recent share price gains.
Saudi Arabia's index fell for a first session in (...)
DUBAI: UAE telecoms operator Etisalat, which saw $1.8 billion moved over its network last year via money transfers, has sought regulatory approval to expand its financial services offerings in the Gulf region, home to millions of (...)
DUBAI: German software developer SAP plans to invest $450 million in the Middle East and North Africa (MENA) over the next four years as it seeks further growth beyond its mature home markets, the company said on Monday.
The world's biggest maker (...)
DOHA: Egypt will launch a tender for mobile virtual network operator (MVNO) licenses within four weeks, the country's communications minister said on Tuesday.
MVNOs are mobile phone service providers which lease excess network capacity from (...)
DUBAI: Spending on information technology (IT) fell 13 percent in Egypt last year after the fall of former president Hosni Mubarak and will be flat for 2012 as a political void stalls government investment in the sector, IDC said on Sunday.
The (...)
DUBAI: UAE's telecoms firm Etisalat may sell its telephone tower operations in Africa and is considering sharing infrastructure with rival carriers, the former monopoly said in a statement on Thursday.
Etisalat operates in about 10 African (...)
DUBAI: The central bank of the United Arab Emirates has fended off an onslaught from hackers trying to bring down its website, the bank's head of information technology (IT) told Reuters on Sunday.
Israeli hackers were apparently behind the (...)
DUBAI: Qatar stocks are poised to rise in the next week as traders buy in ahead of expected bumper earnings from blue-chip companies, which are benefiting from the gas-exporting economy's buoyant performance.
Saudi Arabian banks and consumer (...)
DUBAI: Index compiler MSCI's latest snub to the United Arab Emirates and Qatar underlines the need for the Gulf neighbors to push through reforms, but problems plaguing UAE stocks run a lot deeper and investor apathy is a big worry.
On Wednesday, (...)
DUBAI: Low market liquidity in the United Arab Emirates and Qatar's failure to raise foreign ownership limits threaten to deny MSCI emerging market status to the Gulf neighbors for a third time on Wednesday.
Index provider MSCI rates both the UAE (...)
DUBAI: Egypt's benchmark share index has been on a rollercoaster ride, plunging to a two-year low on Wednesday last week before rebounding 12 percent from that low as the initial days of voting in a six-week parliamentary election went smoothly, (...)
DUBAI: Middle East equity markets are braced for another rocky week, with volatile global exchanges likely to dictate direction in the absence of compelling local factors to distract investors from negative news about the world economy.
The focus (...)
DUBAI: Most Middle East markets rose on Tuesday as a positive opening on European bourses eased investors' fears following sharp declines in world stocks a day earlier.
Egypt's main index climbed 0.3 percent to 4,729 points.
Dubai's Emirates (...)
DUBAI: Dubai's index tumbled to a six-year low and Oman made its largest drop in two years on Monday as widening protests in the sultanate and a steep drop in Saudi stocks a day earlier sparked a sell-off on Gulf markets.
Dubai dropped 3.8 (...)
DUBAI: Saudi Arabia's index slumped to a nine-month low on Sunday and most Gulf Arab markets also slid on fears unrest was spreading in the region.
The kingdom's benchmark fell 5 percent to its lowest level since June 6, with investors unmoved by (...)
DUBAI: Middle East markets slid on Sunday as unrest spread across the world's top oil exporting region, and further selling is forecast, with investors cutting exposure despite a buoyant economic outlook.
"These are retail driven markets and (...)
DUBAI: Dubai's du hit a 15-month high on Tuesday after the telecoms operator said it would pay lower-than-expected royalty fees, potentially doubling its 2010 post-tax profits.
Du will pay a 15 percent royalty fee on its 2010 profit and none for (...)
DUBAI: Cheaper valuations mean Middle East fund managers may increasingly look to single-country telecoms operators as a proxy for domestic economic growth.
While traders expect renewed selling on Egypt's bourse when it reopens on Sunday as (...)
DUBAI: Two of the United Arab Emirates' largest property companies are seeking to raise cash from shareholders as they struggle to recover from a sharp slump in property prices that has made banks reluctant to lend.
Indebted Abu Dhabi developer (...)
DUBAI: Turnover on the Dubai Financial Market fell 60 percent in 2010, slumping to a six-year low, the company said in its annual report on Wednesday.
The bourse's traded value in 2010 was 69.7 billion dirhams ($18.98 billion), down from 173.5 (...)
DUBAI: Dubai's ambition to become an international equity hub may have been put on ice by its need to repay debts, but the Gulf Arab state could still become a magnet for global equity funds if the UAE consolidates its bourses and earns MSCI (...)
DUBAI: Egypt's parliamentary elections produced an overwhelming victory for President Hosni Mubarak's ruling party, but voting was marred by a low turnout and opposition complaints of fraud and bullying, raising political risk worries among foreign (...)