Main headlines

April 21, 2014

 
By holding 157 billion barrels of recoverable crude oil reserves, Iran possesses the world’s fourth largest reserves of crude oil.
03:55 GMT

On April 12, Iranian MP Ali Marvi quoted Oil Minister Bijan Namdar Zanganeh as saying that Iran will increase its crude oil output to 5.7 million barrels per day by the end of Iranian calendar year 1397 (March 2019).

The National Insurance Consortium will provide “construction all risks” and “third-party liability” insurance to Phase 1 of Doha Metro Project.
03:55 GMT

Qatar Rail has awarded one of the largest-ever “single project tunnelling and rail construction insurance” policies to a six-member consortium of Qatari national insurance companies,

GCC governments are targeting greater diversification so that the non-oil private sector starts to play a more significant role in supporting the economy, according to the Q1 review.
03:55 GMT

Economic growth in the Gulf Cooperation Council (GCC) region will remain largely influenced by oil prices and supply dynamics in the oil industry

April 20, 2014

Singapore's education system is ranked second best in Asia (Shutterstock)
13:00 GMT

Singapore's National Institute of Education is set to train 3,000 Saudi school principals over the next few years.

Jordan recently launched a religious tourism campaign to encourage travelers to visit sites such as the alleged baptism site of Jesus (Courtesy of Wikipedia)
11:00 GMT

As tourists continue to flock to Jordan en masse, the Hashemite Kingdom is recording higher revenue profits than ever before.

Despite world forecast revisions, oil production in OPEC countries is on the rise due to Iraqi output (File Archive/Shutterstock)
10:00 GMT

The International Energy Agency revised its forecast for global oil demand in 2014 to 1.5 per cent which may impact further developments and investment in the sector in consequence.

Saudi Arabia surpassed the United Kingdom, Japan and France in military spending in 2013 (Shutterstock)
09:00 GMT

Saudi Arabia ranks in the top four countries for military spending globally, according to a new report released out of Stockholm this week.

Although experts have indicated that regulations such as the doubling of property transfer fees and the mortgage law have helped curb flipping, the emirate has been seeing a rise in off plan sales in the market.
02:55 GMT

“We are not yet back to 2008 prices but in some individual projects we are. So we certainly need to monitor them carefully.”

Libya plans to limit the costly subsidies its citizens enjoy when buying fuel – much of which is smuggled into Tunisia for resale at higher prices – by introducing a “smart card” system like one newly implemented in neighboring Egypt.
01:10 GMT

Fuel smuggling is common across North Africa and its extent has increased in the chaotic aftermath of the Arab Spring.

April 18, 2014

Though Samsung did not offer any sales target for the S5, the company sold more than 10m S4s in the first month of the phone’s launch.
11:14 GMT

The world’s biggest smartphone maker has slashed prices of the S5, which rolled out globally on Friday, and offered a gift pack worth $600,.

The 36-story, 382,500 square-foot (35,535 square-meter) building is located on the Fifth Avenue in New York.
08:32 GMT

The US government says it is going to sell an Iranian skyscraper in New York City in favor of anti-Tehran plaintiffs.

April 17, 2014

Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Qatar, as well as Oman and Turkmenistan.
22:53 GMT

Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Qatar, as well as Oman and Turkmenistan.

Ensour stressed that the Kingdom is in need of support from all Arab states to be able to continue its pan-Arab nationalist role.
22:37 GMT

Prime Minister Abdullah Ensour said this week that Jordan's economy is recovering and moving steadily forward despite the global financial crisis and the Syrian infighting.

“We understand the need for this upgrading work to be done, and we support it wholeheartedly," added Clark.
22:21 GMT

Emirates Airline said on Thursday that runway upgrades at Dubai International would cut its revenues by Dh1 billion ($272 million) this year as it has to reduce flights to 41 destinations worldwide.

Hotel guests can now be charged a minor fee as of March 31, 2014 (Karim Shaib/AFP)
16:34 GMT

Positive reaction: Dubai's recently imposed fee on hotel guests had no negative feedback according to the head of the city's tourism authority.