Main headlines

July 22, 2013

Iraq’s banking sector is no mean feat
15:55 GMT

Interest by Citibank and Standard Chartered to expand into Iraq highlights the vast potential of the country’s banking sector, but the experience of a global rival points to the many pitfalls they must navigate.

Turkish decision to suspend the shipping lines with Egypt should not have any impact on other major lines
12:55 GMT

Turkey has decided to halt its navigational lines which transfer its exports to Saudi Arabia and other Gulf countries through Egypt due to financial constraints.

Iran would send 25 million cubic meters of gas daily to Iraq according to the agreement
10:55 GMT

Iranian Deputy Oil Minister Javad Ouji announced Iran and Iraq will sign a gas deal on Sunday, based on which Tehran would start pumping gas to Baghdad by the next one and half month.

The World Bank said it is fully in compliance with international and U.N. sanctions against Iran
09:55 GMT

The World Bank said Thursday it was placing Iran’s loans in nonperforming status as Tehran had not paid back any of the money it owed for more than six months.

The World Bank said it is fully in compliance with international and U.N. sanctions against Iran
09:55 GMT

The World Bank said Thursday it was placing Iran’s loans in nonperforming status as Tehran had not paid back any of the money it owed for more than six months.

South Sudan might collapse without oil, the main source for the budget apart from foreign grants
08:55 GMT

South Sudan plans to sell 6.4 million barrels of oil worth $300 million before shutting down its entire production by the end of July.

Egypt’s finances worsened in the first five months of 2013
07:55 GMT

Egypt’s central bank has received $2 billion in Saudi funds.

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.