Economy



Savola says had initial talks with Americana shareholder

DUBAI: Major Saudi Arabian food producer Savola Group said on Tuesday it had conducted preliminary talks with one of the largest shareholders in Kuwait Food Co.



Cairn Energy narrows losses, seeks India tax deal

LONDON: Cairn Energy reduced group losses in the first half on lower costs, the British oil and gas explorer revealed on Tuesday as it seeks to settle a tax dispute in India.







Saudi banks’ distressed loans down 4% to SR16bn in Q2

The volume of non-performing (distressed) loans in the Saudi banks dropped by 4 percent to SR16 billion by the end of Q2, 2014, compared to SR16.8 billion in the same period last year, according to a



NMC Health profit up 27%

ABU DHABI: NMC Health, the United Arab Emirates healthcare provider, boosted first-half profit by nearly 27 percent, aided by higher occupancy across its hospitals, it said on Tuesday.



FGB hires former NBAD banker

ABU DHABI: Major Abu Dhabi lender First Gulf Bank has hired a former banker at National Bank of Abu Dhabi as head of its corporate finance advisory services, FGB said on Tuesday.

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