Main headlines

October 19, 2014

On receipt of the funds from refiners, the RBI would buy dollars from authorized dealers.
13:01 GMT

Indian refiners together owe about $6 billion to Iran.

 “To return iPad to high growth, form factor innovation will be required. We’ll have to wait until 2015 to see if Apple addresses this issue.”
12:49 GMT

Apple Inc’s faster, slimmer iPads come with modest improvements, such as a fingerprint sensor, but some analysts say it offers few other features to wow consumers ahead of a holiday shopping season

ICT experts downplayed the impact of Yahoo’s decision to close its office in Amman, but urged authorities to do more to make Jordan more attractive for international ICT companies.
12:18 GMT

They said the US Internet giant’s decision to shut down its office in Amman before the end of the year — thus terminating 80 jobs and relocating some staff — is part of Yahoo’s efforts to cut down costs in its international operations.

Four banks were also listed as being owned or controlled by the Syrian government and sanctioned.
12:08 GMT

he United States blacklisted Lebanese company DK Group for arranging to ship Syrian pound banknotes from Russia to the Syrian central bank, an allegation strongly denied by the company’s general manager.

“The main terminal is fairly lackluster. It isn’t overly clean, crowds can be a problem, and the services for travelers are in short supply."
12:02 GMT

An international website specializing in airport services has ranked King Abdul Aziz International Airport in Jeddah among the worst airports in the world with regard to services

Kuwait has boasted a budget surplus in each of the past 15 fiscal years, helping to increase its sovereign wealth fund to more than $500 billion, according to unofficial estimates.
04:55 GMT

Oil-rich Kuwait tripled the prices of diesel and kerosene on Wednesday, ending decades of heavy subsidies, while putting off a similar decision on electricity and water charges.

Citigroup announced that it intends to exit its consumer business in Egypt, along with its businesses in other 10 countries.
04:55 GMT

It said that these steps will focus on the markets that have the “greatest scale and growth potential”.

October 17, 2014

Euro Disney has a debt of about 1.7 billion euros
01:44 GMT

Saudi Arabian billionaire Prince Alwaleed bin Talal will join a financial bailout of the money-losing Euro Disney theme park, his Kingdom Holding Co said Tuesday.

This is the fourth time (2008, 2009, 2010 and 2013), that Generation’s annual report has seen the airport operator nudge ahead to first place position.
01:24 GMT

Dubai Duty Free has regained its position as the largest single airport retail operation in the world, based on sales figures of $1.8 billion in 2013.

The government intends to organise the summit on 21-22 February 2015 in Sharm El-Sheikh,
01:11 GMT

Tourism Ministry books 600 hotel rooms in Sharm El-Sheikh for participants, Finance Ministry offers 9 PPP projects

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.