Jabbar invests more into Middle East daily deal web site Cobone.com
Daily deal website Cobone.com has raised an undisclosed amount of second-round funding from Jabbar Internet Group. Jabbar, who are backed by Tiger Global, now take complete ownership of the company…
Dow Chemical, Saudi Aramco agree on joint venture
DUBAI: Dow Chemical Co. and the Saudi Arabian Oil Co. outlined plans Monday to set up a joint venture to begin building a massive $20 billion chemical complex in the…
Lebanon’s Blom bank H1 profit up 4.6 percent
BEIRUT: Lebanon's BLOM Bank posted first-half net profit of $163.56 million, up 4.6 percent compared with same period last year. BLOM, one of the top banks in Lebanon, said in…
Egypt to offer LE 3 bln in 3-yr bonds
CAIRO: Egypt's Finance Ministry will offer LE 3 billion ($503 million) in three-year bonds at an auction on Aug. 1, the central bank said on Sunday. The central…
Egypt sells entire LE 2 bln in 91-day T-bills
CAIRO: Egypt's central bank said it sold LE 2 billion ($335.49 million) in domestic treasury bills on Sunday, the same amount it was seeking (CBEY). The 91-day bills sold at…
GCC banks gearing up for new growth phase
Prior to the emergence of the global economic crisis, Gulf Cooperation Council states were reaping the economic fruits of a regional diversification movement that saw the meteoric rise of new…
Gulf markets track global fall, unrest hits Egypt
DUBAI/CAIRO: A drop in global shares weighed on Gulf markets on Monday, dragging Abu Dhabi's bourse to an eight-week low, and concerns over political instability weighed on Egyptian stocks. Abu…
Toppled Mubarak still a thorn in Egypt’s side
CAIRO: Six months after the uprising that toppled Egypt's president Hosni Mubarak, the former strongman who is in custody in the Red Sea resort of Sharm El-Sheikh remains a thorn…
Egypt protesters dejected, but still out for change
By AFP CAIRO: Hundreds of protesters were still camped out in Cairo's Tahrir Square Sunday following a night of bloody clashes with rival demonstrators loyal to the ruling military council,…
Muslim-western tensions still persist, says report
CAIRO: A recent survey looking into Muslim-Western relationships showed that tensions still persist between Muslims and the west. The US-based Pew Research Center recently launched a Global Attitudes Project conducting…
