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Business News

Europe moves away from Strauss-Kahn

Published Date: May 18, 2011

BRUSSELS: European powers began yesterday to distance themselves from Dominique Strauss-Kahn as current French finance minister Christine Lagarde emerged as...

Business News

KSE equities rally as real estate looks up

Published Date: May 18, 2011

KUWAIT: Kuwait Stock Exchange closed yesterday on a positive note. All the action was in the Real Estate Sector during...

Business News

SABIC plans $1bn China plant with Sinopec

Published Date: May 18, 2011

GUANGZHOU: Saudi Basic Industries Corp (SABIC) , the world's largest chemicals producer by market value, said yesterday that it is...

Business News

Saudi pension body bought $533m stocks in March

Published Date: May 18, 2011

RIYADH: Saudi Arabia's public pension agency invested 2 billion riyals ($533.3 million) in the kingdom's stock market in March, its...

Business News

N Sudan faces economic crisis after split: Turabi

Published Date: May 18, 2011

KHARTOUM: Sudan will see an economic crisis after the south secedes in July that could lead to protests and instability...

Business News

Oil reverses gains on dollar, growth outlook

Published Date: May 18, 2011

LONDON: Oil prices edged lower yesterday, pressured by a stronger dollar and concerns about global growth prospects after a slew...

Business News

Dubai rescues Islamic lender

Published Date: May 17, 2011

DUBAI: Dubai's government took control of troubled Islamic lender Dubai Bank yesterday to prevent a collapse undermining the Gulf Arab...

Business News

Bank Nizwa to offer Islamic banking services in Oman

Published Date: May 17, 2011

DUBAI: Bank Nizwa is set to be Oman's first standalone Islamic bank, after the Gulf state moved to keep investment...

Business News

KSE stocks pare losses

Published Date: May 17, 2011

KUWAIT: Kuwait Stock Exchange (KSE) ended yesterday's session on a positive note after a drop on Sunday. However, the volume...

Business News

World markets dogged by recovery fears

Published Date: May 17, 2011

LONDON: Worries over the state of the global economic recovery weighed on stock markets yesterday but the euro managed to...