Main headlines

August 27, 2014

The Index posted a monthly average of 33.4 in the first half of 2014, increasing by 16.5 percent from the second half of 2013
07:17 GMT

Byblos Bank/AUB Consumer Confidence Index improved marginally in January and February, picked up pace in March and April, and regressed in May and June 2014.

That occupancy rates have dropped by 50 percent over the past week
06:57 GMT

Children’s new bedtimes for school are keeping families away from entertainment venues, leading to a sharp dip in revenues following an extravagant 100-percent occupancy rate during Ramadan and Eid.

A Kuwaiti man withdraws cash from an ATM machine (File/AFP)
06:55 GMT

Bahrain's Gulf Finance House Wednesday signed a $105 million deal with Kuwait Finance House in the wake of the global finance crisis, which hit the Middle East.

Dubai’s households spend between Dh37,000 and Dh85,000 each year
06:24 GMT

Dubai’s impressive average spending power of Dh53,000 ($14,400) per household per year has seen the retail sector riding a wave of growth to reach record figures, a report said.

August 26, 2014

Adnoc will take over 75 service stations in agreement with Emirates General Petroleum Corporation (Image: Znews)
11:42 GMT

Abu Dhabi's Adnoc Distribution has bought 34 Emarat service stations and a fuel depot in Sharjah.

The national parliament, early this month, passed the SSP 11.279 billion, up by 8% SSP 0.876 billion from the 2013/14 budget
10:02 GMT

A large portion of South Sudan's annual budget is spent on salaries and operational costs with very little on development projects, a local think tank said in a policy paper.

The program is intended to cut down unemployment among less educated Saudis
09:46 GMT

The Jeddah Chamber of Commerce and Industry is hosting a program for training Saudis with high school education or less in coordination with public and private sector agencies.

A construction site in Beirut displays a huge banner for a building, August 12, 2013 (File/AFP)
09:31 GMT

Figures for construction permits being issued in Beirut dropped slightly by 0.2 percent in 2014. Numbers varied for other cities and towns across Lebanon.

Almost 60,000 Chinese tourists checked into Abu Dhabi hotels in H1, an increase of 189 percent from the previous year (File/AFP)
08:05 GMT

Abu Dhabi has seen a huge rise in Chinese visitors in H1 according to the Abu Dhabi Tourism & Culture Authority following a Chinese Visitor Summit in the Emirate.

Oman uses two different contracts to sell its crude
06:58 GMT

Oman's crude oil exports to China have continued to soar amid the economic giant’s rising demand for energy and its increasing reliance on Middle Eastern oil supplies.

Saudi Arabia is a strategic partner with the Sudan in investments
06:56 GMT

Saudi investments in the Sudan are expected to cross $13 billion (SR48.75 billion) in the next few months, particularly following a decision on canceling entry visas for Saudi investors.

Balfour Beatty, Carillion and Mott MacDonald are a few of the firms to win contracts (File/AFP)
06:52 GMT

The UK's top construction firms have won infrastructure contracts worth $1.65 billion to build roads, hotels, museum projects and drainage networks for World Cup 2022 in Qatar.

August 25, 2014

The Specialist Services deal follows a previous project triumph for the same development by Leighton Offshore (File/AFP)
12:42 GMT

Dubai's Specialist Services won a contract from Petrofac to build local equipment and control rooms for its Island Surface Facilities Project.

Saudi Arabia's coffee industry is worth $267 million annually (File/AFP)
12:20 GMT

They say it's a sign of good hospitality when you offer visitors a cup of coffee! Saudi Arabia is the largest coffee consuming country in the world with an industry worth $267 million.

The U.S. is the sixth-largest means for electronic cash transfers to Lebanon (File/AFP)
08:58 GMT

World Bank figures showed a decrease in the cost of sending remittances for the U.S. to Lebanon at 10.19 percent in Q2.