Main headlines

September 15, 2014

“Ismaik has finalised the sale of a stake in Arabtec to Aabar,” the source told Reuters, declining to elaborate on the size of the stake or the price.
17:10 GMT

Sources say that Hasan Ismaik has finalised the sale of stake in Arabtec to Aabar and the deal will be announced soon.

Commenting on the legitimacy of Parliament’s endorsement, he said MPs are not public sector employees; therefore they are not eligible for pensions.
15:40 GMT

The cost of the lawmakers’ decision, which has enraged the public, is expected to reach around JD6 million a year, a figure that will increase every new parliamentary term, if the law is enacted.

Egypt's trade balance deficit dropped to LE9.09 billion ($1.27 billion) in June 2014, the state-run statistical body CAPMAS reported Monday.
05:55 GMT

The figure represents a 63.5 percent decrease compared to the same month in 2013, when the deficit stood at LE24.88 billion ($3.48 billion).

Al Khalifa said through QBIC’s flagship Lean Startup program, it has supported and launched more than 21 projects that truly showcase entrepreneurs’ potential and progress in Qatar.
04:55 GMT

Qatar Development Bank and Social Development Center have officially announced the launch of the region's largest business incubator.

04:55 GMT

There have been persistent rumours that Kabir had been running the central bank from Malta, after fleeing an upsurge in violence in the capital Tripoli, where the bank was based.

September 14, 2014

While remittances to India from the GCC is a given considering the huge Indian population, remittances to other parts of the world is also increasing.
21:48 GMT

UAE Exchange, the single largest player in the remittance industry in the GCC, has over six per cent of share in the global remittance market, said a top official.

The tragic shooting down of Malaysia Airlines flight MH17 in July, which killed all the 298 people on board, could have been avoided, according to Sir Tim Clark, president of Dubai-based Emirates Airline.
21:32 GMT

According to reports, Australia’s Qantas stopped flying over Ukraine months before the tragedy, while Korean Air also claimed that it rerouted cargo and passenger flights in early March.

Since Dubai's 2009 financial crisis, Emaar's retailing business has benefited from a strong rebound in the emirate's economy on the back of a tourism and trade boom.
21:24 GMT

Dubai's Emaar Properties is seeking to raise as much as Dh5.8 billion ($1.58 billion) from an initial public offer of shares in its shopping malls unit that is expected to be the Gulf's biggest stock sale since 2008.


Analysts polled by Reuters in April forecast average inflation in the UAE would accelerate to 1.9 per cent in 2014 and 2.5 per cent in 2015 from 1.1 per cent in 2013, which was the highest level since 2009
14:34 GMT

The housing and utility costs, which account for almost 44 per cent of consumer expenses, jumped 6.2 per cent year-on-year and 0.4 per cent month-on-month in August.

Apple is selling out of its stock even after customers took to Twitter to complain of difficulties loading the website to place pre-orders on Friday morning.
04:55 GMT

Suppliers to Apple were scrambling to get enough screens ready for the new iPhones as the need to redesign a key component disrupted panel production, supply chain sources told Reuters last month.

Retail sales climbed 11.9 percent, lagging forecasts of 12.1 percent and slowing from 12.2 percent in July, the National Bureau of Statistics said.
04:55 GMT

This marks the lowest reading since December 2008 when the economy was buffeted by the global financial crisis.

September 12, 2014

“The facility produced one pirated CD every five seconds. This is one of the largest raids conducted by the library in cooperation with the Criminal Investigation Department,” he added.
20:09 GMT

“The facility produced one pirated CD every five seconds. This is one of the largest raids conducted by the library in cooperation with the Criminal Investigation Department,” he added

September 11, 2014

Abdel Nour said the government has begun taking concrete steps to address the current energy crisis in Egypt.
22:49 GMT

This came during an expanded meeting held by Abdel Nour with a delegation from the US State Department.

Christina Warren, senior tech analyst at Mashable, said: "The iPod classic is finally dead. RIP little iPod. You remade Apple, changed the way we listen to music, and are one of my top five gadgets."
21:55 GMT

There was no announcement, no solemn ceremony to mark its passing, but Apple has finally killed off its longest-serving gadget, the iPod Classic, just seven years after it was launched.

Brent crude dropped to a two-year low below $97 a barrel on Thursday, falling for a sixth straight session as worries over mounting supply and weak demand outweighed concerns that conflicts in the Middle East could curb oil production.
14:47 GMT

"The recent slowdown in demand growth is nothing short of remarkable," the International Energy Agency (IEA) said in a monthly report, cutting its oil demand growth projections for 2014 and 2015.