Main headlines

June 8, 2014

The report gave no indication of whether any change in investment strategy was envisioned.
12:15 GMT

The central bank has managed investment of the kingdom's foreign currency reserves until now, much of it in US Treasury bonds.

Alkari said Libya was currently earning around $1 billion each month in oil revenues, having brought in between $4 billion and $5 billion a month before the oil protests started.
12:07 GMT

A wave of protests at oil facilities has reduced the North African country’s oil output to less than 200,000 barrels a day down from 1.4 million bpd in July before the strikes started.

“This is the Kingdom’s duty based on our religion, ethics and the joint destiny of the two countries,” said the king, who is vacationing in the Moroccan city of Casablanca.
08:43 GMT

On Tuesday, King Abdullah called for a “Friends of Egypt” conference, which would raise funds for the country to weather its current economic crisis.

High-ranking business leaders and travel and tourism experts welcomed the proposal.
03:55 GMT

“After spending a week in Saudi Arabia, they can go to Oman, Bahrain, or the UAE with the same visa."

Abu Dhabi has been seeing a boom in tourism in recent months, with occupancy levels in the emirate’s hotels reaching 71 per cent in 2013.
03:55 GMT

The beach resort will include a 295-room low-rise hotel in addition to a spa, meeting rooms and 11 villas.

June 5, 2014

The Ministry of Haj has warned local Haj companies against running exaggerated advertising campaigns and to refrain from using language that seemingly promotes special or VIP services.
14:00 GMT

The ministry has also banned companies from publishing photos of scholars on their print advertising campaigns to lure potential Hajis (pilgrims) to sign up with them, Makkah daily reported.

The embassy called on service seekers to book an appointment in advance to submit the required documents to the centers through website http://www.vfstasheel.com
12:18 GMT

Saudi Embassy in Egypt announced that it has decided to start issuing visas to visit the Kingdom through three regulatory stages, reported the Saudi Press Agency on Wednesday.

Housing Minister Uri Ariel said after the tenders were published, "This step is the appropriate Zionist response to the Palestinian terror government. I believe this round of marketing is just the beginning."
12:06 GMT

After months of a construction freeze over the green line, the Ministry of Construction and Housing has published tenders for 1,500 new homes in Judea, Samaria and Jerusalem.

 Ibrahim Saif said that Kim’s visit “sheds light on the repercussions of the refugee crisis on the Jordanian economy”.
11:59 GMT

Harper described Jordan’s response to the refugee challenges as a “model” for the entire world.

Although the launch of the iPhone 6 is not even official as yet, a recent survey by US-based 451 Research’s ChangeWave found heightened interest for the new device in the market.
05:29 GMT

Apple’s new smartphones are among the awaited devices in the market, and despite the US company’s notorious secrecy, the internet is awash with rumours about its next generation smartphone, the iPhone 6.

The ministry has warned that violators of the ban will be fined Dhs15,000 if they are found forcing labourers to work under direct sunlight.
03:55 GMT

Workers will be restricted from carrying out any work under direct sunlight from 12.30 pm to 3pm during this period

June 4, 2014

The fund forms a radical solution for the financial decline that the tourism sector has experienced over the past 20 years, which worsened sharply throughout the past 3 years.
20:03 GMT

The federation established the fund at a minimum value of $1bn in its first phase, which will increase to $5bn throughout coming phases.

“Jordan was importing 60% of its needs from Syria, but this has now stopped because of the unrest in Syria,” added Abdullah.
10:46 GMT

Commercial shipping lines between Egypt and Jordan are not sufficient for developing and increasing the volume of commercial trade, said Mohammad Abdullah.

“Now we’re updating our 10-year business plan and amending our route structure fleet,” Al Majali said.
03:55 GMT

Former chief executive executive, Amer Hadidi, stepped down in April after losses continued to hurt the airline, said Al Majali.

June 3, 2014

LinkedIn was also able to track the leading source countries for talent coming into the UAE and the countries to which talent was migrating, as well as the UAE industry sectors that gained the most
17:48 GMT

The UAE has attracted more professional talent as a percentage of its workforce than countries such as Canada, Brazil, Switzerland, Saudi Arabia, South Africa, India, Singapore and Australia.