Main headlines

July 25, 2013

Transactional activity improved in Abu Dhabi over the last few months, with purchasers encouraged by a wider choice of available properties
10:55 GMT

Abu Dhabi will see existing residential supply augmented by the handover of 3,500 units and a rush of standalone tower projects during the second half of the year, offering mid-level investors a wide choice of properties.

Iran plans to allocate some facilities to enhancing the production capacity of the country’s downstream petrochemical, polymer and plastic industries
09:55 GMT

The main objective behind the plan is to reduce the export of raw petrochemical products and to create added value and new jobs.

Foreign investments in Iran rose by 45 percent in the past Iranian calendar year, which ended on March 20, compared to its preceding year
07:55 GMT

Iran has approved $540 million worth of new foreign investment plans.

Dubai benchmark stock index closed 1.8 per cent lower at 2,515.45
06:36 GMT

UAE markets fell on Wednesday with Dubai's retreat led by real estate and mortgage provider stocks, as investors indulged in profit taking.

July 24, 2013

Currently 22 million litters of gasoline conforming to euro 4 and euro 5 standards is being produced in the country
16:55 GMT

Iran's average gasoline consumption stood at 62.7 million liters per day in the week to July 19, the IRNA News Agency reported.

Around 35,000 barrels of 45,000 barrels of oil extracted in Turkey every day come from the south-eastern provinces
14:55 GMT

Turkey intends to invest up to 2 billion lira in energy projects in the south-eastern provinces of the country in the near future.

Gold sales began to slip worldwide in 2011
13:55 GMT

Local shop owners have said sales have increased by up to 25 percent from just a month ago after a drop in gold prices in the Kingdom and around the world.

Hotel room capacity in Oman is forecast to grow at a compound annual growth rate of 5.3 per cent over the period 2011 to 2016
12:55 GMT

The outlook for new resorts and hotels in Oman looks promising with over 3,000 hotel rooms due for completion by the end of 2014.

The price of vegetables and fruits has tripled during Ramadan
11:49 GMT

The price of vegetables and fruits has tripled during Ramadan. This happens yearly, as demand reportedly increases by up to 15 percent.

In Abu Dhabi, shares worth a total of Dh387.59 million were traded
09:42 GMT

The UAE share markets continued to rise on Tuesday in line with the improved global risk sentiments and in anticipation of strong fiscal second quarter earnings of locally-listed blue-chip companies.

The average daily rent, pegged at $204 last year, is expected to grow to $227 by 2016
08:55 GMT

The hospitality industry in the GCC, home to world-class hotels and recreation facilities, is poised to grow at 6.93 per cent to reach $24.92 billion by 2016, a report issued by Kuwait Financial Centre yesterday said.

Iran would pump 25 million cubic meters of natural gas per day to the Iraqi power plants
06:55 GMT

Washington is concerned about a $14.8 billion gas deal, which was signed by Iran and Iraq on Sunday, according to which Iran will supply Iraq with natural gas for four years.

July 23, 2013

The development centre is still down and the company has not given a timeline as to when it will be restored
15:55 GMT

Software manufacturer Apple has confirmed that its development centre has been hacked leading to a network failure for more than three days.

The government has built over 100,000 housing units over the past 50 years but with rapid population growth and constraints on the amount of available serviced land
13:55 GMT

Bahrain’s residential market witnessed an increased level of activity with a number of new developments being announced in the second quarter of the year, said a report.

UAE Central Bank had approved the issue more denominations of coins to meet demand
12:55 GMT

Cash deposits in the Central Bank of the UAE amounted to Dh79.9 billion while cash withdrawals were Dh82.1 billion by end of May, leading to coins problem in the market.