Main headlines

September 23, 2013

Around 100 tons of black oil are planned to be exported through the port of Anzali to Russia
11:55 GMT

Iraq is exporting black oil to Russia through the Iranian port of Anzali in the Caspian Sea, Gilan Province Port Management Head Farhad Montaser Kuhsari said today.

Consumer loans capture nearly 80 percent of Saudi local banks’ retail loan portfolio
11:26 GMT

The volume of consumer loans given by Saudi local banks rose by 22 percent to reach SR321 billion in the second quarter of the current year compared to the same period last year.

Lebanon’s tourism sector contributed more than $8 billion in 2009 and 2010 to Lebanon’s GDP
10:38 GMT

The number of tourists to Lebanon dropped by 10 percent in the first eight months of 2013 compared to the same period last year, with European visitors topping the list ahead of Arabs for the first time in years.

Saudi Arabia and the United Arab Emirates are expected to lead the way for GCC growth
10:20 GMT

The economic growth of Gulf Cooperation Council (GCC) countries is expected to slow down to 4 per cent this year, according to Euler Hermes.

During 2003-2010, the ICT spending has grown at a CAGR of almost 19 percent to reach a value of $12 billion.
08:22 GMT

the UAE presents the second largest ICT market in the GCC region after Saudi Arabia in terms of capital and volume of spending.

Fraud is one of the most significant systemic risks faced by financial and other institutions globally,
07:29 GMT

A typical organisation loses five per cent of its revenues to fraud each year which roughly translates to a global fraud loss of more than $3.5 trillion.

September 22, 2013

The Arab Potash Company (APC) has decided to operate at a reduced rate due to uncertainties in world potash markets and the resultant impact on demand.
14:32 GMT

In a disclosure sent last week to the Amman Stock Exchange, APC Acting General Manager William Flahr announced that operations for the foreseeable future will be at approximately 20 per cent of total production capacity.

The Sudanese justice minister, Mohamed Bishara Dousa, said that the United States economic sanctions imposed on Sudan have seriously affected lives of the Sudanese people.
14:19 GMT

Sudan has been under the US blacklist of states sponsoring terrorism since 1993 on allegations of harbouring Islamist militants despite reports of Sudan being a cooperative intelligence partner of Washington in the "war on terror".

The Anglo-Dutch major, in charge of operations at the southern Majnoon oil field, said on Friday it aims to boost output to 175,000 barrels per day (bpd) in October.
11:30 GMT

Royal Dutch Shell has restarted production at Iraq's Majnoon oil field, one of four giant fields core to the country's plans to boost output and avoid a slowdown in exports this year.

The Corolla, currently produced at 15 plants worldwide, accounts for one in five vehicles sold in Toyota’s 76-year history.
11:08 GMT

The 40.01 million sales milestone marks another historic figure.

The spending has also received support from steady employment growth, especially among Kuwaiti civilians (Photo credit: tradearabia).
09:28 GMT

Employment growth was relatively steady, in particular among Kuwaiti nationals and skilled expats. The latter two groups are crucial to the consumption sector, said the NBK in its report.

The centre will aim to “enhance legal procedures that facilitate the settlement of rental disputes”, reported official news agency WAM.
07:50 GMT

Dubai has been beefing up laws to better regulate its real estate sector as the market recovers from a crash in 2009.

Hundreds of millions of dinars are being invested in Bahrain's tourism industry with five new luxury hotels set to open in the next six months.
07:27 GMT

"Despite the troubles, the belief was, things should carry on as normal.:

September 19, 2013

Another Russian company Lukoil suffered a $63 million loss when it withdrew from a project in the Aran oilfield
15:55 GMT

Zarubezhneftegaz Company of Russia has announced readiness to develop a newly discovered gas field in Iran.

In Beirut and Mount Lebanon, trade has declined by 15 percent in 2012
14:55 GMT

Commercial activity across Lebanon has declined by between 15 and 70 percent, parliamentarians said Wednesday, warning that the decrease in trade was forcing many businesses to close.