Main headlines

June 3, 2013

The ministry will follow closely the payment of salaries and other benefits to employees
12:22 GMT

The Labor Ministry has launched a wage protection program for workers of mega companies having 3,000 or more employees.

Fundamentals of the economy were rock solid and liquidity is picking up.
11:33 GMT

The Saudi stock market registered solid gains last month. At the end of May 2013, the Tadawul All-Share Index (TASI) closed at 7,404.12 points, gained 224.3 points or 3.12 percent over the close of the previous month.

$200 million solar power plant in Jordan with generation capacity of 80 to 100 megawatts
06:32 GMT

Venezuela’s Pacific Rim Energy is interested in establishing a $200 million solar power plant in Jordan with generation capacity of 80 to 100 megawatts.

Restructuring energy subsidies is a major step if Egypt wants to reach an agreement on a $4.8 billion loan from the International Monetary Fund
06:22 GMT

Egypt has begun implementing the first phase of a project to distribute petrol from depots to gas stations using smart cards as part of a plan to restructure the energy subsidies.

June 2, 2013

Egypt has run through more than $20 billion in reserves
10:22 GMT

Egypt has converted $2.5 billion that Qatar lent it in December into 18-month notes and is working to convert another $3 billion lent this month into three-year bonds, Egypt's central bank governor was quoted on Thursday as saying.

Oman Oil Company Exploration and Production LLC (OOCEP)
10:10 GMT

Oman Oil Company Exploration and Production LLC (OOCEP), an upstream oil and gas subsidiary of Oman Oil Co, has awarded a US$40mn engineering, procurement and construction (EPC) contract to Abu Dhabi-based National Petroleum Construction Co (NPCC).

US shale oil production has added 850,000 barrels per day to its current production levels
10:08 GMT

Saudi Arabia exported nearly 1.06 billion barrels of oil in the first five months of the current year that yielded SR 428.6 billion, an economic expert was quoted by the local media.

Saudi Financial Markets
05:30 GMT

Saudi stock market continued its positive movement for the second consecutive week, marking another gain of 0.56 percent.

Saudi Arabia Airlines
05:00 GMT

International airlines operating in KSA have raised their fares to make maximum profit during the summer season when thousands of Saudis and expatriates travel abroad to spend their vacation.

May 30, 2013

Qatar’s trade surplus rises 7.9% in Q1
14:00 GMT

Qatar's foreign merchandise trade balance has showed a surplus of QR107 billion in the first quarter of 2013, according to QSA’s preliminary report of exports and imports for the first quarter of 2013.

The first module began on Tuesday
13:08 GMT

For the first time in the Middle East a diploma in Health Economics and Health Technology Assessment (HEHTA) is being offered, honing Dubai’s status as an international hub for medical tourism.

Saudi wheat precision farming
12:44 GMT

The Saudi stock market continued its upward march and managed a third straight rise yesterday, adding nearly 26 points further.

The landmark transaction was awarded “Middle East Infrastructure Equity Deal of the Year”
11:48 GMT

Mena Infrastructure Fund LP, a leading specialist infrastructure private equity fund, sponsored by Waha Capital PJSC, Fajr Capital Ltd and HSBC Group, has acquired a 20 per cent shareholding in Sohar Power Company SAOG.

‘Qatar’s share in GCC aviation to grow by 17% by 2023’
11:32 GMT

QATAR’S market share in the GCC aviation industry is expected to grow by 17 percent whereas the latter’s share in the global aviation market is likely to increase by five percent by 2023.

The authority will launch five routes, curtail three routes and extend five routes
10:59 GMT

Newly developed areas in Dubai will soon have public bus routes as the Roads and Transport Authority (RTA) plans a major revamp of its ever-expanding network.