Dubai World creditors to get multiple options

 - Arabian Business
0 min ago
Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt strapped neighbour, sources close to the discussions said. Bankers in London and the Gulf are divided over how Dubai should restructure the $26 » more

Oman airport extension delayed, may cost more

 - Maktoob Business
0 min ago
MUSCAT - The extension of Oman's main airport in Muscat will be delayed by two years and may cost the state up to an extra $500 million after runway excavations hit seawater, a government official said on Wednesday. "The Muscat airport extension will now be completed in 2014, not in 2012 as » more

Dubai creditors to get multiple options

 - Maktoob Business
0 min ago
DUBAI/LONDON, March 10 (Reuters) - Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt-strapped neighbour, sources close to the discussions said. Bankers in London and the Gulf are divided over how » more

Oil jumps toward $83, gasoline climbs in U.S.

 - Maktoob Business
0 min ago
LONDON - Oil prices jumped over $1 towards $83 per barrel and gasoline shot above $2.30 a gallon for the first time in 17 months on Wednesday as stocks of the motor fuel in the United States dropped unexpectedly. Gasoline stocks in the world's largest energy market showed a surprise drop of 2.9 » more

Non payment of UK firms a serious issue - minister

 - Arabian Business
0 min ago
DEBT PROGRESS: Britain's trade minister said that Dubai had made progress in handling its debt crisis more openly, but delays in the payment of contractors was an issue. (Getty Images) DEBT PROGRESS: Britain's trade minister said that Dubai had made progress in handling its debt crisis more openly, » more

SABIC hits new high as investors buy in Saudi

 - Maktoob Business
0 min ago
DUBAI - Saudi Basic Industries Corp hit a fresh 16-month high on Wednesday amid rising foreign interest in Saudi stocks, boosting the index. Other regional markets were mixed, with Abu Dhabi claiming a 15-week high as banks surged on dividend-based buying and a positive HSBC rating. Oman and Egypt » more

Dubai's Istithmar kicks off ISS auction - bankers

 - Arabian Business
0 min ago
Information memoranda have been issued for the sale of Istithmar's port and shipping agent Inchcape Shipping Services (ISS) as the auction gets underway, bankers close to the deal said on Wednesday. Global marine management firm ISS is owned by Dubai investment group Istithmar, part of the heavily » more

Oman airport extension delay may cost extra $500m

 - Arabian Business
0 min ago
zoom AIRPORT EXTENSION: Oman's Muscat Airport extension will be delayed by 2 years and cost an extra $500m after runway excavations hit seawater. (Getty Images) The extension of Oman's main airport in Muscat will be delayed by two years and may cost the state up to an extra $500 million after » more

Abu Dhabi shares rally

 - The National
0 min ago
Abu Dhabi property shares moved higher yesterday while the Dubai Financial Market fell slightly despite renewed optimism about Dubai Worlds potential debt restructuring. The Abu Dhabi Securities Exchange General Index closed 1.2 per cent higher at 2,827.37. Aldar Properties led the rally, rising » more

Sprint king Bolt wins second Laureus award

 - Maktoob Business
0 min ago
ABU DHABI - Sprint king Usain Bolt won the prestigious Laureus Sportsman of the Year award for the second year in a row on Wednesday, beating off completion from the likes of tennis star Roger Federer and football’s Lionel Messi. Tennis star Serena Williams took best Sportswoman for the second » more

Not so sizzling forecast for summer oil prices

 - The National
0 min ago
Investors banking on the usual summer surge in oil prices, be warned: crudes rally may have run out of gas. Analysts caution that current oil prices above US$80 a barrel are not justified by the supply and demand fundamentals and that any sign of a pause in an economic recovery could lead to a » more

Telecoms search for revenue streams

 - The National
0 min ago
Tom Gara and David George-Cosh The rapidly rising demand for bandwidth has telecommunications companies rushing to boost capacity and change their business models. The huge investments needed to meet the demands of a booming, price-sensitive market have telecoms looking at different ways to make » more