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  • 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
  • Dar-al-Arkan

    Dar al-Arkan repays $1 billion sukuk on Monday

    Saudi builder Dar al-Arkan Real Estate Co has transferred $1 billion to Deutsche Bank to repay its Islamic bond, or sukuk, the firm said in a bourse statement on Saturday.

    July 14, 2012 9:07