Main headlines

December 17, 2014

The lira's tumble comes amid concerns about wider emerging-market weakness
04:55 GMT

The lira weakened to a record low of 2.4140 against the dollar on Tuesday after a fall in the value of the ruble in Russia

Alarab will feature expert opinion from renowned guests and never-before-seen social media interaction with its viewers, it said.
04:55 GMT

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, chairman of Kingdom Holding Company (KHC), and owner of Alarab News Channel.

ASELSAN, established by the Turkish Armed Forces Foundation at the end of 1975, is a Turkish corporation that produces tactical military radios and defense electronic systems for the Turkish army.
04:55 GMT

Turkish military electronic defense systems corporation ASELSAN launched a production plant via a joint partnership between the Turkish firm and a Jordanian company.

Abdel Nour is expected to hold the council’s first meeting tomorrow to review future plans and the most important proposals for developing bilateral relations.
01:36 GMT

Minister of Industry and Trade Mounir Fakhry Abdel Nour issued a decree Monday stipulating the formation of the Egyptian-Chinese Business Council

December 16, 2014

Oil prices have been going down since June due to weak demand and oversupply benefiting the airline industry in procuring cheaper jet fuel.
23:12 GMT

“It will be a positive effect starting from next year. We will see a drop in ticket prices,”

Dana warned the KRG could face sanctions if the autonomous region failed to pay the money to its consortium,
15:29 GMT

Kurdistan’s Regional Government (KRG) has failed to pay $100 million to a Dana Gas consortium as instructed by a London arbitration court

An FBI official did not provide further details, but said the agency routinely provides private industry with advisories to help it fend off cyber threats.
15:20 GMT

The FBI has warned US businesses to be on the alert for a sophisticated Iranian hacking operation.

Even at current oil prices, analysts estimate Qatar’s state budget might break even next year; it has huge fiscal reserves to cover any deficits.
04:55 GMT

Qatar predicted its economy would grow 7.7 percent next year, signalling the world’s top exporter of liquefied natural gas expects very little disruption to its finances

December 15, 2014

OPEC’s 12 members pumped 30.56 million barrels a day in November, exceeding their collective target.
06:55 GMT

OPEC will stand by its decision not to cut crude output even if oil prices fall as low as $40 a barrel.

Prices are set to remain under $100 oil a barrel
06:55 GMT

Zawaneh told The Jordan Times the “government should play it smart” and build the law based on an average price, “not to go for $30 and not to keep it exaggerated as $100”.

Iran is considered one of the world's most corrupt places.
04:55 GMT

Iranian authorities have arrested 12 people for syphoning off more than $4.5 billion (3.6 billion euros) from one of the country's main banks over several years.

“We have a real problem with growth. There has been a real slowdown in the economy."
04:55 GMT

"It is a strategic threat to the country; not only poverty, but also wage gaps."

The company had been producing around 200,000 barrels a day.
03:26 GMT

Libya's eastern Es Sider oil export port, the country's biggest, has been shut due to fighting nearby between forces representing the country's competing governments.

Dubai’s stock market was the world’s best performing this year until it was caught up in a regional sell off amid tumbling oil prices.
03:16 GMT

The Dubai index wiped off gains registered in 2014, since it fell another 7 per cent for a second straight session.

Going forward, the impact of declining oil prices on Egypt's economy is less clear.
03:05 GMT

Egypt's stock market plunged by 22 billion Egyptian pounds (just over $3 billion) in a single day of trading Sunday as low oil prices dragged down regional economies.