Main headlines

October 17, 2014

Key government agencies will present a snapshot of opportunities across Oman’s high growth sectors as well as the strategic roadmaps for the development of each sector.
00:52 GMT

As much as $145 billion worth of projects are currently under way or will be awarded in Oman, according to MEED projects, the region’s leading projects tracker.

The majority of these children were Egyptians, Syrians, Burmese and from the African continent.
00:46 GMT

The member said education authorities needed to find a solution to the problem because “education is a basic human right for everyone, whether they are a citizen or foreigner living in the Kingdom.”

 The slump represented a wipe-off in market value of about $255 billion for European stocks listed on the broad STOXX Europe 600 index
00:41 GMT

A sell-off in European stocks accelerated on Wednesday, with a key index suffering its biggest one-day slide in nearly three years as investors slashed exposure to risky assets on mounting worries about global growth

October 16, 2014

"Nevertheless, further oil price drops would likely be needed for supply to take a hit — or for demand growth to get a lift," the agency said in its October report.
04:55 GMT

The IEA again cut its forecasts for growth of global oil demand for the third month in a row.

October 15, 2014

The joint venture will see a range of branded hotels opening in Dubai, Abu Dhabi, Jeddah and Istanbul (File)
12:15 GMT

Leading Dubai developer Damac Properties has joined forces with Paramount Hotels and Resorts to open luxury hotels across Dubai, Abu Dhabi, Jeddah and Istanbul.

The startup will be looking to invest primarily in the UAE and Saudi Arabia (File/AFP)
12:04 GMT

UAE-based startup Amanat Holdings will invest in up to six businesses over the next two years. The firm is looking at the GCC's healthcare and education sectors.

Commercial and residential properties will be available after the multi-million dollar city is completed (Image: Seidco)
11:34 GMT

The UAE's government will commence work on the $381 million Sheikh Mohammed bin Zayed residential city in Fujairah, according to a report.

Around 85 percent of UAE households own a computer (File/AFP)
10:57 GMT

The UAE's IT market, which was worth an estimated $4.1 billion in 2013, is expected to grow by 8.47 percent until 2018.

October 14, 2014

Contracts will be worth $38 billon by the year's end (File/AFP)
15:07 GMT

Kuwait's government awarded over $20.7 billion worth of contracts by the end of August, almost doubling the amount compared to 2013.

The continuous and impressive climb by the dollar expresses a substantial change in the trend in the dollar in 2014."
14:24 GMT

"The shekel-dollar rate has risen for the tenth successive week, reaching a peak of NIS 3.738/$ last week."

Saudi and Dubai stocks plunged by 6.5 percent but are now recovering (File/AFP)
14:04 GMT

After a rocky Monday, most stock markets in the Middle East recovered with Saudi Arabia and Dubai leading the figures.

The budget allocated Dh1.8 billion (3.7 per cent) to the infrastructure and economic sector, Dh1.6 billion (3.2 per cent) to financial assets and Dh 1 billion (2.1 per cent) to federal spending.
14:03 GMT

Sheikh Mohammed also said that the federal budget for 2015 will go towards health, education and social services.

Egypt’s real GDP in FY 2013/2014 reached 2.2 percent, almost the same as in the preceding fiscal year.
13:47 GMT

The Egyptian Finance Ministry expects gross domestic product (GDP) to climb steadily and to reach 6 percent in FY 2017/18 as private sector investment rises to 15 percent of GDP.

Key issues are due to be discussed at the delegation in Kuwait, namely how to boost tourism in the region (File/AFP)
13:15 GMT

GCC ministers will meet Tuesday to discuss how to boost tourism in the region. The delegation is due to be lead by Saudi Commission for Tourism and Antiquities President Prince Sultan bin Salman.

Etihad profits rose by 29 per cent in Q3 (File/AFP)
12:36 GMT

The UAE's national airline, Etihad, reported profits of $1.8 billion in the third quarter of 2014, an increase of 29 per cent year-on-year.