Main headlines

June 25, 2014

FENDI Casa translates the FENDI savoir faire and creativity, as well as its distinctive materials, into elegant objects and cinematic ambiances that are timeless and exceptionally made
12:08 GMT

The 34 properties are located in a private-gated community in the 42 million sq ft Akoya by DAMAC master development off Umm Suqeim Road in Dubai.

“Investors get scared, but more than that, people who provide them leverage get scared,” Mohindra said.
11:56 GMT

Saudi Stock Exchange (Tadawul), the Middle East's largest bourse that is planning to go public, reported a 37 percent drop in 2013 net profit, its first ever financial disclosure showed on Tuesday

Economic researcher at Stanford University Amro Adly said that the establishment of a fund to collect donations is a “populist measure” that falls short of an economic solution/
11:50 GMT

Governor of the Central Bank announced the opening of a new bank account under the number 037037, a reference to the date on which President Abdel Fattah Al-Sisi declared the ouster of former president Mohamed Morsi.

Social Development Ministry Secretary General Omar Hamzah made the announcement on Tuesday during a visit by Prime Minister Abdullah Ensour to the ministry.
11:30 GMT

The Ministry of Social Development has started preparations to distribute JD100 in cash assistance to identified underprivileged families, under a Royal makruma, as the fasting month of Ramadan approaches.

June 24, 2014

Prime Minister Recep Tayyip Erdoğan has been voicing his disapproval of the central bank since late January,
23:26 GMT

The comments came a day before the central bank was scheduled to meet and decide upon a potential rate cut.

“The objective of the fund is to achieve a risk adjusted medium to long-term capital appreciation while generating a quarterly cash dividend to investors,” it added.
17:57 GMT

With a targeted size of $5 billion from a combination of equity and debt, the fund will focus exclusively on Airbus aircraft.

A market of 500 million people, the EU remained the world's biggest importer of farming and food products, though the level was mostly unchanged from 2012 at 101.5 billion euros.
04:55 GMT

The European Union (EU) beat out the United States to become the world's top exporter of agricultural and food products last year,

After four days of trading in the green, the Saudi stock market saw a significant setback on Monday, dropping more than one percent or 103.85 points.
04:55 GMT

Tourism, Construction and Real Estate Development sectors showed the worst performance.

However the company has seen its share price drop dramatically from a high of $73 dollars in December to a low of just $30 last month — though the price has rebounded somewhat in recent weeks.
04:55 GMT

As well as not wanting to sell on the grounds they were just starting out, Stone says another reason was that he just didn’t click with Zuckerberg.

“In terms of tourists from emerging markets we can say that it is increasing by 70 per cent a year,” added Miguel.
00:04 GMT

The increase in tourism numbers was spurred by the launch of a daily Emirates flight route to Lisbon back in July 2012.

June 23, 2014

The contractor has plunged 48 per cent so far this month and 53 per cent from a record Dh7.40 in May
22:49 GMT

“The company must be forced to come up with an announcement to ease tension among the investors, mainly the small investors,” Wadah Al Taha, chief investment officer of Dubai-based Al Zarooni Group, said.

UAE private jet users appreciate the “luxury and the hassle-free environment” that comes with a private charter, the report said.
22:43 GMT

The study also found that Paris came in the second place with four trips and London in third place with two trips.

Badawood said many jobs could be done from home with the support of computers and the Internet.
22:26 GMT

The Civil Service Ministry is planning to introduce a distance work system for government departments, especially for women, as part of the government’s efforts to create more job opportunities for citizens.

June 22, 2014

The funds are the first tranche of some $1.5 billion in mostly military aid which has been frozen since October amid US administration demands that the Egyptian government introduce democratic reforms.
21:18 GMT

"The Apaches will come, and they'll come very very soon," Kerry said in response to a reporter's question on whether the halt of deliveries expressed US antagonism to Egyptian authorities.

Forbes Middle East revealed that the criteria considered to rate the top companies included: the companies’ total revenue, net profits, total assets, and market capitalization.
19:06 GMT

On the Top 500 companies list, however, Egypt placed fourth in terms of number of companies contributed to the list.