International Customs

DUBAI: Dubai Public Prosecution has referred five Asian men to Dubai Criminal Court on charges of forging Dubai Customs documents...

Gulf oil exporters reduce spending by drop in oil prices

DUBAI: Gulf oil exporters must reduce spending, including subsidies, and diversify their economies to cope with lower revenues caused by...

Saudi Capital Market to invest $5b in bourse

RIYADH: The Capital Market Authority (CMA) said institutional investors must have a minimum of 18.75 billion riyals ($5 billion, 4.5...

‘US customs preclearance plan not affected from subsidy spat’

DUBAI: The subsidy spat between US and Gulf carriers has not affected plans for Dubai to have a US customs...

Customs arrests man for smuggling 112k mephedrone

LARNACA: A 34-year-old man was found guilty by the Larnaca Assize court for importing 112 kilos of mephedrone, with the...

Iraq seeks $800m loan from IMF

BAGHDAD: Iraq has requested financial assistance from the International Monetary Fund (IMF) and agreement may be reached within weeks on...

Riyad Bank plans to issue $1.07b bonds to boost capital

JEDDAH: Riyad Bank, Saudi Arabia’s fourth-largest lender by assets, plans to issue SR4 billion ($1.07 billion) of bonds to boost...

Non-oil business shows sign of hope for Saudi Arabia

RIYADH: The rate of output growth in Saudi Arabia’s non-oil private sector remained strong last month, a survey of businesses...

Dubai customs bags Enterprise Architecture Award 2015

DUBAI: Dubai Customs has earned the coveted Enterprise Architecture Award 2015, presented by Frost & Sullivan; a world leader in...

£148m pay day helps Greece fight debt

ATHENS: Cash-strapped Greece has made a €200m (£148m) repayment to the International Monetary Fund, as its long-stalled bailout negotiations appeared...

Poland’s PKP Cargo to hire 1,000 train drivers

WARSAW: Polish freight company PKP Cargo plans to employ 1,000 train drivers in 2015-2016, said Adam Purwin, CEO of the...

Polish bank PKO BP recommends no dividend for 2014

WARSAW: Poland’s largest bank by assets PKO BP recommends no dividend payment from 2014 profit, with PLN 1.9 billion earmarked...

Poland to keep rates on hold to at least 2016

WARSAW: Poland's monetary policy council will refrain from offering a horizon for stable interest rates in part as the next...

Hungary’s INA to consider HRK 15 per share dividend

BUDAPEST: The management of Croatian oil and gas company INA, a subsidiary of Hungarian oil and gas company MOL, is...

Hungarian Dreher 11% exports to Slovakia now eyes U.K. markets

BUDAPEST: Hungarian brewer Dreher, well-known for its beers in Hungary and a member of the SABMiller group, is planning to...

Hungarian GVH fines Henkel HUF 9m