Sunday 29 March 2015
 
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Jupiter’s moon ‘has an ocean,’ raising prospects for life

Scientists using the Hubble Space Telescope have confirmed that the Jupiter-orbiting moon Ganymede has an ocean beneath its icy surface, raising the prospects for life, Nasa said on Thursday. The finding resolves a mystery about t

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Saudi to hike April crude selling price for Asia

Top oil exporter Saudi Arabia is expected to raise the official selling price (OSP) for most of its crude grades to Asia in April, including a hike in the OSP for Arab Light to a four-month top, in line with a stronger Dubai market.

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Walmart to spend $1bn to raise wages this year

Walmart Stores, long criticised for its low wages and employee benefits, said it would spend more than $1 billion to increase pay for half a million US employees this year. The increase announced by the largest private sector empl

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Mena IPOs raise $11.5bn, highest since 2008

Companies in the Middle East and North Africa (Mena) region have raised $11.5 billion last year, through 27 initial public offerings (IPOs), nearly four times more than the $3 billion in 2013, according to a report. The Ernst &

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Key Tenmou-backed app raises $300,000 funding

Tenmou, Bahrain's first 'Business Angels' company, has announced that 'eat' - an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding. With this add

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Dubal holds talks with banks on raising loan

Dubai Aluminium (Dubal) has held talks with banks about raising a loan to help fund its general operations, the first time the firm has commissioned such a facility in years, three banking sources told Reuters. While it is a rarit

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Mena IPOs raise $2.4bn in H1, up 14pc

The Mena IPO market recorded a total of 16 deals raising $2.4 billion in the first six months of the year, up 14 per cent for both volume and proceeds on the same period last year, said a report.

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GE unveils IPO plan to raise $3.1bn

The success of General Electric's (GE) impending initial public offering for its private-label credit card unit could ride on investors' willingness to bet that a lukewarm consumer-led US economic recover

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Dubai water drive raises $50m

A Dubai initiative to provide potable water to five million people facing shortages in Asia and Africa has raised nearly $50 million, said a report.   The UAE Water Aid campaign, Suqia, has exceeded its goal as t

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Dar Al Arkan raises $400m from sukuk issue

Saudi Arabia's Dar Al Arkan Real Estate Development raised $400 million through an Islamic bond, the developer said in a statement on Thursday, with strong demand for the paper helping to reduce the cost at which it borrowed.

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