Breaking Middle East Business News

Jordan’s 2010 budget will focus on curbing the country’s soaring deficit to deal with the fiscal challenges needed to spur the economy to recover from the impact of the global downturn, the finance minister said on Friday. Bassem al-Salem said the...

Residents in the Sultanate have backed a recent report released by the US State Department that hails the Sultanate for allowing freedom of religion, within the general frameworks it has laid. The Annual Report for Religious Freedom 2009 had pointed...

Hakan Samuelsson, chief executive of German truck maker MAN SE since 2005, has resigned. Mr. Samuelsson, 58 years old, didn't provide any reason for the decision, but in a written statement Monday the Munich-based company said he was leaving immediately,...

Bahrain's national carrier Gulf Air hopes to save almost $3 billion over five years as the struggling airline restructures to compete in the Gulf region's increasingly cutthroat aviation market, the company's chief executive said Monday. The airline, which is fully-owned...

AWB oil-for-food scandal, a court has heard. Criminal charges over the affair may still be laid by the Australian Securities and Investments Commission, despite the inter-agency taskforce ruling them out, the Supreme Court was told yesterday. February and August 2007...

Bullion, which has gained around 32 per cent so far in 2009, struck a succession of lifetime highs in November as sentiment turned extremely bullish after India acquired 200 tonnes of the precious metal from the International Monetary Fund. Gold...

German rail operator Deutsche Bahn said Sunday it had signed a multi-billion-euro contract to build high-speed railway lines and underground transport networks in Qatar and Bahrain. The total investment earmarked for the projects amounts to 17 billion euros (25 billion...

Islamic mortgage lender Tamweel said on Sunday that it had managed a return to profit in the third quarter of 2009, despite taking impairment charges, after three consecutive 
quarters of losses. Tamweel posted a third-quarter net profit of Dh10.3 million,...