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  • Traders

    Markets lackluster as summer lull deepens

    Gulf Arab bourses are likely to remain lacklustre on Monday as a summer trading lull, regional political tensions and sustained volatility on global equity and oil markets make investors wary of raising their risk exposure.

    July 16, 2012 11:55
  • Abu Dhabi TAQA

    UAE’s TAQA gets $355 million financing for Ghana project

    TAQA, which is owned 75 percent by the government of Abu Dhabi, will expand the Takoradi 2 (T2) power plant's capacity from 220 megawatts to 330 megawatts, the firm said in a statement.

    July 16, 2012 11:35
  • Nuclear Power Plant in San Onofre, California

    UAE nuclear plant gets environmental OK

    The no objection certificate from the environmental regulator is one of several approvals needed for construction to begin on the two reactors at the Barakah nuclear power plant.

    July 16, 2012 11:15
 
  • 200-mobily

    Saudi’s Mobily says second quarter net profit up 22 percent

    The firm, an affiliate of the United Arab Emirates' Etisalat , said it made a net profit of 1.421 billion riyals ($379 million) in the three months to June 30, up from 1.164 billion riyals in the year-earlier period.

    July 16, 2012 11:00
  • UAE's Hormuz bypass

    Iran renews Hormuz closure threats

    Iran renewed threats on Sunday to close the Strait of Hormuz unless sanctions against it were revoked, though it remains unclear how Tehran could shut down the vital oil shipping channel given the significant American military presence there.

    July 16, 2012 10:45
  • 200-barclays

    Libor scandal forces Barclays from UAE rate panel

    British bank Barclays plans to pull out of the rate-setting panel for interbank lending in the United Arab Emirates because of its involvement in the Libor scandal in Britain, industry sources told Reuters on Sunday.

    July 16, 2012 10:28
 
  • Brent-crude-price-rise-kipp

    Brent stays above $102 on China stimulus hopes

    Asia shares extend rally as China growth within expectations; Bernanke's semi-annual monetary policy report key this week; Brent to retrace to $101.26 –technicals; Coming Up: U.S. retail sales mm June

    July 16, 2012 10:26
  • Petroleum Development Oman

    Iraq signs gas contract with Pakistan Petroleum

    Iraq signed an initial gas exploration contract with Pakistan Petroleum on Sunday as part of its push to attract more foreign investment to develop its energy sector following years of war and sanctions.

    July 15, 2012 5:16
  • 200-bank-muscat

    Key Dubai shareholder opts out of bank Muscat rights sale

    Dubai Group sells rights to buy shares at discount; Bank Muscat eyes $251 mln from discounted rights sale; Dubai has rights to buy 33 mln shares in the Omani bank;Dubai Group is bank's second largest shareholder with 14.7 pct stake

    July 15, 2012 5:07
 
  • Dar-al-Arkan

    Dar al-Arkan to repay all sukuk by end-2015

    Dar to repay further 2.4 bln riyals debt by 2015; Does not plan to issue new sukuk this year; Expects at least 10 pct profit growth in Q3, Q4; Aims for over 10 pct growth in 2013; No impact from mortgage law this year

    July 15, 2012 5:06
 
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