Main headlines

September 19, 2013

The pipeline will replace an ageing 230,000 bpd link and will help Bapco expand its 267,000 bpd Sitra refinery to up to 460,000 bpd
11:02 GMT

Saudi Arabia and Bahrain have approved plans to lay a 350,000-barrel per day (bpd) oil pipeline between the two countries.

Qatar’s four Islamic lenders will almost double their asset base to $100bn by 2017.
10:52 GMT

Spending for the world’s most-watched sporting event will spur lending for roads, stadiums and hotels.

In 2011, private sector workers were promised an ‘emergency allowance’ if their pre-tax salary, not their take-home salary, failed to reach the LE700 minimum.
10:37 GMT

"Social equality is not only related to increases in pay; social justice is to provide job opportunities for people," Eissa elaborated.

Syrian annual inflation rate hit 68% in May 2013 while prices continue to rise; announced the Syrian central bureau of statistics website on Wednesday.
10:13 GMT

Importing would strain an economy that is already crippled by international sanctions; falling currency value and decaying hard currency reserves.

Prince Alwaleed, the principal shareholder of the Rotana Group, is also the beneficial owner of approximately 7 percent of 21 Century Fox’s  Class B Common Stock.
08:23 GMT

Rotana, which is majority owned by Prince Alwaleed, operates one of the largest TV networks and ad sales operations in the region and owns the largest Arabic film library.

Saudi Arabia is offering $1 trillion worth of investment opportunities.
08:02 GMT

“The size of the Saudi economy has quadrupled during the last 10 years to rank first among countries of the region and 19th at the global level,” said Abdullatif Al-Othman, governor of Saudi Arabian General Investment Authority (SAGIA).

September 18, 2013

Payments for oil are estimated to rise to 4 million tons in the year ending March 31, versus 3.9 million tons in the previous 12 months
15:55 GMT

Iran plans to import 8-10 million liters of premium gasoline from India per day, the Fars News Agency reported on Tuesday.

US discuss technical support to Jordanian industries
13:55 GMT

Jordan Chamber of Industry Chairman Ayman Hatahet and US Ambassador to Jordan Stuart Jones on Monday discussed ways to boost economic cooperation between the two countries.

The solar EOR project produces a daily average of 50 tonnes of emissions free steam
12:01 GMT

Enclosed trough system from GlassPoint uses the sun’s energy to produce steam for thermal EOR, thereby reducing the need to burn natural gas.

The budget deficit up to June of this year reached 28.1 percent of spending
10:40 GMT

Lebanon’s budget deficit in the first six months of this year continued to rise amid falling revenues and increasing expenditures, the Finance Ministry said Tuesday.

IBM detailed the anticipated rise of smart cities that have been specifically designed to collect data, analyze it, and use it to improve the quality of city life.
09:34 GMT

The Saudi IT market, which is the largest in the Middle East totaled $1billion in 2012, and is expected to surpass $12.4 billion by 2016, according to International Data Corporation (IDC).

Dubai Airports experienced overwhelming support from volunteers in its trial recruitment campaign and was oversubscribed within the first 48 hours.
08:52 GMT

When completed, DWC will be the largest airport in the world with five runways and capacity for 160 million passengers and 12 million tonnes of cargo.

The automotive sector in the Middle East remains upbeat despite turbulence in many countries in the region.
08:39 GMT

Almost every car maker has reported sales growth in double digits, ranging between 20 and 40 per cent in the region.

Despite knowing what they want to achieve, investors do not have a clear plan to meet their financial goals.
08:25 GMT

“These findings demonstrate a clear change of direction for regional investors, who are now willing to be more adventurous than ever in their investment decisions,” said Moad Touhami.

Card holders can also enjoy exclusive offers on global hotel bookings, access to global airport lounges, complimentary multi-trip travel insurance and buy-one-get-one-free offers at cinemas across the UAE.
07:14 GMT

Cardholders will also have the chance to win all expense paid trips to watch City play in Manchester and money-can't-buy experiences including exclusive tours of the Etihad Stadium and visits to the training ground to meet the First Team and watch them train.