Economy



Algeria to hold new oil and gas auction within weeks

ALGIERS: Algeria is preparing a new auction for foreign energy firms, an official said on Wednesday, after the North African country awarded four out of 31 oil and gas field blocks last month in the f




Saudi-Sinopec refinery to export in December

ALKHOBAR: The first fuel exports from a major new Saudi Arabian-Chinese refinery will load in December, slightly later than expected, three industry sources said.




NCB IPO 50.3% subscribed at 11th day end

The initial public offering (IPO) of the National Commercial Bank (NCB) was 50.3 percent covered by the end of the 11th day, according to the financial advisers and lead managers GIB Capital and HSBC




$22.5bn Riyadh metro a race against time

RIYADH: The sprawling Saudi capital is in a race against time to complete its $22.5 billion metro system within four years, a senior official said.



National Bank of Abu Dhabi earnings jump 32 percent

ABU DHABI: National Bank of Abu Dhabi (NBAD) expects its percentage rate of growth in lending to be in the high single digits in the coming months, although the profitability of its lending will conti




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