Main headlines

July 22, 2013

Average construction labour costs grew by 15 per cent in June compared with May 2013, reflecting rises in wages for most trades
06:28 GMT

Statistics Centre – Abu Dhabi, or Scad, on Saturday issued its monthly report on the prices of building materials for the month of June and the second quarter of 2013.

The virus could seriously impact the tourism industry once it reaches epidemic proportions
05:56 GMT

The tourism sector has experienced a subdued demand in July.

July 21, 2013

The Saudi Embassy in Jordan had to intervene by asking the authorities to facilitate the movement of Saudis stranded at border crossings
12:55 GMT

A worker’s strike on the Jordanian border has seen Saudi and other travelers, including truck drivers, delayed for hours.

Egypt fears the dam will reduce water flows vital for its 84 million people
11:58 GMT

Egypt said on Saturday it was very concerned that the Ethiopian government had not responded to an Egyptian invitation to discuss a dispute over a giant dam that Ethiopia plans to build on the Nile.

Oman Rail can enter into partnerships with investors in various aspects of railway services
11:07 GMT

Oman is ramping up its efforts to build a 2,244-kilometre rail network that is expected to link major ports and neighbouring countries.

Hotel & Tourism continued a splendid performance among sectoral indices
10:55 GMT

Saudi Arabia’s benchmark stock index reflecting a 3-day fall during the week, closed at 7,667.07 points last week, trimming only 23.31 points or 0.30 percent for the entire week.

Iranian banks were disconnected from the global financial network, making payment transfers to or from Iran very difficult
09:55 GMT

Iran has not paid back any of its loans to the World Bank for more than six months, the bank said Thursday, a further sign of the strains on the sanctions-hit Iranian economy.

Iran would receive nearly USD 10 million a day and USD 3.7 billion a year from natural gas exports to Iraqi power plants
07:10 GMT

Tehran and Baghdad are set to officially sign an agreement for Iran to supply natural gas to neighboring Iraq’s Al-Baghdad and Al-Mansouriyah power plants, an Iranian official says.

The drop ranged between 0.1 per cent for paints and 14.8 per cent for wires for residential towers
07:01 GMT

The emirate of Abu Dhabi reported a drop in prices for 15 groups of building materials in June compared with the same period last year, latest data from the Statistics Centre Abu Dhabi (SCAD) showed.

July 18, 2013

the Kingdom is aiming to generate 18 GW of nuclear energy, 3 GW of waste to energy, 1 GW of geothermal and an additional 9 GW of wind power, specifically for water desalination plants
15:55 GMT

Saudi Arabia aims to become the world’s foremost market for renewable energy with an aggressive investment budget of $109 billion.

Cyprus has agreed to cut its budget deficit to 2.4 percent of gross domestic product in 2016, from an estimated 5.9 percent this year
13:55 GMT

Cyprus’ international lenders began reviewing how the island is meeting the conditions of its 10 billion euro bailout Wednesday, looking to see whether it should get the next tranche of aid.

It wasn’t too long ago when a number of consumers started ditching their credit cards for fear of incurring massive debt
11:55 GMT

Bank sources confirmed that the uptake of credit cards in the UAE is on the rise as more people have come to the UAE for work and the economy gets better.

Tax exemption up to 80 percent are being offered to investments in the industry and mine sector
10:55 GMT

Iran’s tax revenues are forecasted to amount to 450.8 trillion rials (about $18.1 billion) in the current Iranian calendar year.

Currently, only 940 drugs from the registered 6,868 are made in the UAE
09:55 GMT

More generic, cheaper medicines for common conditions like hypertension and cholesterol will be available within two years following a landmark decision by the UAE Ministry of Health.

Growth in the depositary base continues to provide opportunities to expand the financing capabilities of the banking system
08:55 GMT

Deposits in the Saudi financial system reached SR1.3 trillion by the end of May, adding SR70.5 billion YTD.