IBTimes.co.uk : Middle East Economy

Iran: stuck between Iraq and a hard place

Wed, 30 Jun 2010 16:04:51 +0100

Iran is facing a multitude of problems – both external and internal – that threatens the growth of its all-important energy sector.

Foreigners Once Again Enamored With U.S. Treasuries

Wed, 16 Jun 2010 19:04:30 +0100

China, Japan and some other major foreign countries stepped up their purchases of U.S. Treasuries and dollars during April, likely as a safe haven away from a euro battered by a wave of budget deficit/default fears all across the EuroZone.

Iraq slashes Saddam-era debt owed by Madagascar

Wed, 16 Jun 2010 15:37:56 +0100

Iraq has agreed to forgive 80 percent of the loans it made to Madagascar in the era of ousted dictator Saddam Hussein, the government said on Wednesday.

Iraq slashes Saddam-era debt owed by Madagascar

Wed, 16 Jun 2010 15:37:47 +0100

Iraq has agreed to forgive 80 percent of the loans it made to Madagascar in the era of ousted dictator Saddam Hussein, the government said on Wednesday.

U.S. discovers $1 trillion Afghan mineral deposits: report

Mon, 14 Jun 2010 14:41:33 +0100

Afghanistan could be holding $1 trillion of untapped mineral deposits including critical industrial metals such as lithium.

Global crisis seems near final stage: Israel's Fischer

Sun, 13 Jun 2010 14:24:01 +0100

The global financial crisis appears to be in its final stages, although some countries are still experiencing a recession, Bank of Israel Stanley Fischer said at an International Monetary Fund-World Bank meeting on Sunday.

Thai Air may post Q2 loss; Emirates ups profit forecast for 2010

Mon, 07 Jun 2010 15:35:52 +0100

While Thai Airways posted a second-quarter loss last year, Emirates said passenger volumes in the Middle East jumped 22 percent in the first four months of this year.

Saudi Arabia welcomes foreigners to buy homes: report

Fri, 04 Jun 2010 11:57:40 +0100

King Abdullah Economic City will be the first freehold city in Saudi designed to house two million people and generate a million jobs.

Iran may exchange 45 billion euro in gold and dollars

Thu, 03 Jun 2010 16:05:49 +0100

The Iranian central bank is said to hold a majority of 85 percent of their currency reserves in euro, but this seems to be changing now. Expecting further downside pressure on the euro, the bank plans to shift into gold and dollar.

Mideast luxury sales seen stagnant in 2010

Tue, 01 Jun 2010 12:41:50 +0100

Dubai conglomerate Al Fahim Holdings expects the region's luxury sector to turn in a similar performance this year to last, when sales were down 40 percent, with Gulf Arab buyers propping up the market.

AfDB lends $200 mln to IDC of South Africa

Thu, 20 May 2010 16:41:01 +0100

The African Development Bank (AfDB) approved a credit line of $200 million to help South Africa's Industrial Development Corporation (IDC) finance projects across the continent, the bank said on Thursday.

Dubai World agrees $23.5 bln debt deal with creditors

Thu, 20 May 2010 13:22:31 +0100

Dubai World says its financial indebtedness will be about $14.4 billion, post restructuring

Dubai World to offer full debt repayment: report

Wed, 17 Mar 2010 09:32:02 +0000

Dubai World will offer banks a single proposal to repay in full the $26 billion debt it is renegotiating, with interest likely linked to LIBOR, Al Arabiya reported on Wednesday.

Iran parliament approves Ahmadinejad budget

Tue, 09 Mar 2010 00:07:12 +0000

Iran's parliament approved President Mahmoud Ahmadinejad's 2010/11 budget on Monday, state radio reported, but some lawmakers attacked the plan, saying planned cuts in subsidies could spark runaway inflation.

Dubai CDS jump to highest since March; Nakheel debt falls

Mon, 15 Feb 2010 13:23:56 +0000

The cost of insuring five-year Dubai debt against default jumped to its highest level since March on Monday as concerns intensified over the debt restructuring of state-owned conglomerate Dubai World.

Saudi Zain in credit talks after missing commitments

Sat, 23 Jan 2010 10:24:03 +0000

Zain Saudi Arabia <7030.SE>, the kingdom's newest mobile phone operator, said on Saturday it is in talks with creditors after it did not honor some commitments last year linked to a two-year $2.5-billion murabaha loan.

Surat sees hope as Israel's diamond exports soar

Wed, 06 Jan 2010 02:34:12 +0000

With Israel's polished diamond exports more than doubled to $308.2 million in December 2009, Surat hopes to improve its diamond trade in 2010. Surat's diamond traders expect that the new year will spell a boom for the diamond business in the city, which processes almost every diamond made in the world.