DUBAI: Raysut Cement, Oman's largest cement producer by market value will buy the United Arab Emirates' Pioneer Cement Industries, the company said in a statement on the Omani bourse on Thursday. Raysut's chief financial officer said on Sunday the (...)
DUBAI: Dubai World's willingness to sell prized assets such as ports operator DP World to pay down its debt pile is considered such a drastic move that analysts see it more as a last-resort bargaining tactic.
Documents obtained by Reuters this (...)
LONDON/DUBAI: Ships carrying petroleum to Iran face greater scrutiny at ports in the United Arab Emirates as new western sanctions bite leaving the Islamic Republic to seek alternative hubs, trade and shipping sources say.
While the latest (...)
DUBAI: The United Arab Emirates central bank governor dismissed on Tuesday reports that Iran may seek payment in dirhams for its oil exports to Europe to get around sanctions, saying the UAE had no time for jokes.
An Iranian official said on (...)
SANAA: Yemen's President Ali Abdullah Saleh this week marked 20 years ruling a united Yemen, but has little to celebrate in a country buckling under the pressure of separatist, sectarian and al Qaeda violence.
Pro-unity billboards lining the (...)
KUALA LUMPUR/DUBAI: As Western regulators stress test top banks, Islamic finance wants to broaden its regulatory approach and improve disclosure rules amid concerns that unhealthy banks may have slipped under the radar.
Few Islamic financial (...)
DUBAI: US automaker Chrysler said on Tuesday its organization outside North America would not be affected by a bankruptcy filing at home or its planned alliance with Fiat SpA.
Chrysler filed for bankruptcy last week and plans to sell its best (...)
MANAMA: A growing number of investment bankers whose jobs have been axed due to the global financial crisis are leaving conventional banking to move into Islamic finance, banking executives say.
Executives from Islamic banks told a Reuters (...)
DUBAI: Egypt's EFG-Hermes said on Tuesday it was planning a "special situations fund worth some $500 million to take advantage of low equities prices amid the global financial turmoil.
Hazem Shawki, a managing partner, also told Reuters Middle (...)