Main headlines

July 15, 2013

The 50-day average for trading volume is closer to 234.7 million shares
15:55 GMT

The Tadawul All-Share Index reflecting typical trough-peak combination continued inching its way higher to end yesterday’s trading in the green at 7,744.16 points, up 53.78 points or 0.70 percent from the previous level.

The combined annual production of 2 billion cubic feet (bcf) at the Helium 1 and 2 plants will help meet around 25 per cent of current global demand
13:55 GMT

Qatar has now become the world’s largest exporter and second largest producer of liquid helium with the launch of production at the new plant of RasGas Company, said the country’s energy minister.

A decision was made that Pakistan would provide the wheat and rice instead of cash and Tehran has agreed to it
11:55 GMT

Iran has agreed to barter wheat worth $9 million from Pakistan in relation to Pakistan's debts for electricity supplied by Iran.

The average monthly blackouts in Bahrain have been cut from 12 hours in 2010 to 3.6 hours last year
09:55 GMT

Power cuts in Bahrain during summer have been significantly decreased in the last three years, said a senior government official.

Kuwait's aid package would comprise a $2 billion central bank deposit, a $1 billion grant and $1 billion in oil products
07:05 GMT

Kuwait has sent two oil tankers carrying crude and diesel worth $200 million to Egypt.

The consumer price inflation was 0.9 per cent during the first half of 2013
06:39 GMT

Consumer price inflation in Abu Dhabi and across the UAE is low and well under control, Dr Hashem Al Nuaimi, Director of Customer Protection Department at the Ministry of Economy said yesterday.

July 14, 2013

Mobile billing revenues worldwide are expected to rise by $13bn per year by 2017
15:55 GMT

Experts predict that mobile banking in the Middle East and Africa will jump from 19,8 million to 82,1 million users by 2017.

Hotel bookings from the GCC region totaled $1.6 billion in 2012
12:55 GMT

Online hotel bookings are steadily gaining popularity in the Middle East as more consumers in the region use the internet to search for their rooms.

The project is part of plans to build a $10 billion GCC rail link that will also connect with the proposed Friendship Causeway between Bahrain and Qatar
11:55 GMT

Experts are studying plans to establish railway tracks parallel to the King Fahad Causeway as part of the $10 billion GCC rail link.

Nearly 40 per cent of Egyptians live under poverty line
10:44 GMT

Egypt’s deteriorating economy was believed to be among the main reasons behind January 25, 2011 revolution which ousted former president Hosni Mubarak.

Iraq supplied 24.04 million tons of crude oil in 2012-13
09:55 GMT

Union Petroleum and Natural gas Minister Veerappa Moily has said that Iraq has offered three discovered oilfields to India on nomination basis and agreed to renegotiate an oil block that has been pending since 2000.

Abu Dhabi aims to start producing about 500 million cubic feet a day of sour gas in 2014
09:04 GMT

The UAE’s average June oil output was unchanged from May at 2.73 million barrels per day, latest data from the Paris-based International Energy Agency showed.

Solar Park project at Seih Al Dahal is in progress
06:59 GMT

The construction at the Mohammed bin Rashid Al Maktoum Solar Park project at Seih Al Dahal is in progress and going on schedule.

July 11, 2013

Lebanon blames Fatmagül failure
15:55 GMT

The Turkish operator of an electricity-producing barge assumes the responsibility for a monthlong stoppage in power production and urged the Lebanese state to seek compensation for the breach of the agreement terms.

Total value of goods imported to the Kingdom last year reached SR 587.8 billion
13:55 GMT

The Customs Department said yesterday that it made SR 22.25 billion in revenues last year, 13.5 percent more than the revenue of 2011.