India: No longer handcuffed to history
NEW DELHI: A recent court ruling has revealed India’s strengths and limitations as it grapples with its transformation from a land handcuffed to history — ever since the Partition of…
Insurance M&A needs Saudi central bank’s nod
RIYADH: The Saudi insurance market is ripe for mergers and acquisitions but these await a nod from the central bank, the chief executive of the kingdom's biggest insurance firm Tawuniya…
Asia Naphtha-Saudi Aramco sales premiums recover
SINGAPORE: Saudi Aramco sold 50,000 tonnes of A180 naphtha for early-November loading from Ras Tanura to a Western trader at $16.00-$17.00 a tonne above Middle East quotes, free-on-board (FOB) basis,…
Rising sugar price eats into Saudi Savola’s Q3 margin
RIYADH: Saudi-based conglomerate Savola Group posted a near-2 percent rise in third-quarter net profit on Monday, sharply below forecasts, after a rise in global sugar prices ate into its margins.…
US will one day beg Iran for ties, says Ahmadinejad
TEHRAN: Iran's President claimed the United States will one day apologize and beg Tehran that the two countries resume diplomatic relations, the official IRNA news agency reported. Mahmoud Ahmadinejad also…
Egypt bourse sees fund trading in weeks
CAIRO: Trading of funds will begin on the Egyptian Exchange within weeks, a move that will boost investment in much-needed transport and power infrastructure, the head of the exchange said…
GB Auto may soon shop around for Hyundai replacement
CAIRO: Ghabbour (GB) Auto, one of the Middle East’s biggest automobile manufacturers, may watch its contract with Hyundai to assemble its Verna model go unrenewed. “This would be a big…
Mideast PE eyes return to SME roots
DUBAI: Private equity in the Middle East may return to its roots with small and medium-sized business investments following a regional downturn, as the sector remains cautious about its 2011…
Afghan gunmen kill 9 guards protecting NATO convoy
KABUL: Gunmen killed nine Afghan workers who were guarding a NATO supply convoy in the south of the country, police said Monday. The attack in Gereshk district happened on Sunday…
Egypt pound weakens to fresh 3-1/2 year low
The Egyptian pound traded as low as 5.7141 to the dollar, its weakest since January 2007, as foreign investors buy dollars to repatriate funds, traders said. "They are capitalizing on…