Main headlines

August 18, 2013

No official statement has yet been issued evaluating the cost of damages and sector losses (Sources: Getty images).
15:33 GMT

The Daily News Egypt spoke to a number of Egyptian economists to explore how the economy will be affected by the recent political turmoil and resulting violence.

“Saudi inflation has eased over the course of this year, in spite of fairly robust domestic demand.
14:54 GMT

The banks appear to be in a healthy condition and the government’s fiscal position is strong enough that it can respond to any sharp deterioration in the economy by ramping up spending.

Syrians will be able to buy dollars at 175 Syrian pounds, higher than the official rate but still cheaper than the black market – where the rate often reaches 200.
11:05 GMT

Syrian authorities have shut down a money exchange office in Damascus and made several arrests as a part of a campaign to curb illegal currency trading.

The TEPIX surpassed 60,000 on Saturday.
09:10 GMT

The total value of Iran’s capital market is half of the gross domestic product (GDP).

The 35 existing lounges on the Emirates network will be refurbished according to the new design in a phased plan during the next 18-24 months.
08:55 GMT

The 35 existing lounges on the Emirates network will be refurbished according to the new design in a phased plan during the next 18-24 months.

Dubai is the favourite destination for Saudi tourists during the summer and Cairo could have claimed the second spot.
04:55 GMT

A Saudi tourist normally spends three times that his European counterpart would in European countries, where spending ranges between $10,000 and $100,000.

August 17, 2013

The UAE’s ‘building boom’ is having a positive effect on employment levels within the construction sector, as well as the industries that supply it.
21:03 GMT

Professional job opportunities across the United Arab Emirates increased by 6% between Q2 2012 and Q2 2013 according to a new survey by recruitment specialist Morgan McKinley.

August 15, 2013

Abraaj and BLG Capital will seek to capitalize on the under supply of institutional quality student accommodation and strong demand for higher education due to Turkey’s young and growing population and increasing household income.
20:24 GMT

There is a rapidly growing student accommodation in Turkey due to its booming young population and increased household income.

Shell gave no details on how many staff were affected by the closures nor where the offices were located. A spokesman could not immediately say whether oil installations - mostly in the Western Desert and Nile delta - were affected.
14:16 GMT

Europe's top oil company Royal Dutch/Shell has closed its offices in Egypt for the next few days and restricted business travel there after at least 525 people were killed in a security crackdown.

The governments in the UAE, Saudi Arabia and Qatar continue to spend millions of US dollars on digital learning solutions, according to a recent report by Pearson, the a global education company (Getty images).
12:24 GMT

"The future will not belong to those who focus on technology alone but to those who place it in the wider context of what we know about maximising learning and realising system impact."

The stock exchange will resume trading next week, the exchange said.
11:15 GMT

Egypt's stock exchange and banks will not open [Thursday] following violence sweeping the country, a bourse statement and an official at the central bank said.

In a statement released by GGICO, the company said profit for the first 6 months of 2013 had reached Dh58 million compared to a loss of Dh41 million in the same period last year (Photo credit: CGICO website).
10:46 GMT

The strong second quarter continues a growth trend for the Dubai-based company who last year reported a second quarter loss of Dh47 million


Sales of feature phones to end users totaled 210 million units and declined 21 per cent year-over-year.
09:34 GMT

Smartphone sales to end users reached 225 million units, up 46.5 per cent from the second quarter of 2012, along with other new trends in the global mobile phone industry.

Mandatory meters would minimise exploiting female passengers dependent on drivers (Photo credit: Emirates 24/7).
08:54 GMT

In Saudi Arabia, passengers usually bargain with drivers to determine the fare, but a new alternative is now in place.

“Industrial estates will be built in Tafileh, Ajloun and Jerash, since these governorates are a priority because of the high rate of poverty and in light of their geographical location,” Minister of Industry, Trade and Supply Hatem Halawani said at the meeting.
08:10 GMT

It's time to steer the conventional investing mentality towards Jordan's underprivileged governorates. A new economic and social reform agenda is now at play in Jordan.