Main headlines

January 26, 2015

Middle Eastern equity and equity-related issuance totalled $11 billion in 2014, a 173 per cent increase from 2013.
10:03 GMT

Business has been booming recently, albeit with the recent oil price crash the best times are probably now over.

The euro hit an 11-year low on Monday after the election results, and US stock futures also fell.
09:44 GMT

Gold climbed towards a five-month high on Monday as an electoral win by Greece's anti-austerity party sparked fears of renewed instability in Europe.


He said the government is revising its draft budget to assume a base price of $40, from $72 a barrel.
04:55 GMT

Iran’s Government Spokesman Mohammad Baqer Nobakht says the administration can run the country with oil revenues below $40 billion in the next Iranian calendar year.

Over 1,000 Saudi businessmen and companies in various sectors are expected to attend the March Economic Summit.
04:55 GMT

Egypt’s government has sent invitations to more than 6,000 businessmen and 120 countries to participate in the summit.

January 25, 2015

Iran produced 16.331 million tons of crude steel in 2014, a 5.9 percent rise from 15.422 million tons in 2013.
13:20 GMT

Iran ranked first in the Middle East and 14th in the world in terms of steel production in 2014, the World Steel Association (WSA) said in a recent report.

In October, a document showed Germany’s national security council approved the export of arms to Saudi Arabia, Qatar and other countries in the Middle East.
12:52 GMT

Germany has decided to stop exporting arms to Saudi Arabia, the German newspaper Bild am Sonntag said on Sunday, citing government sources as saying the kingdom was “too unstable”

 The company describes itself as building the next generation semiconductor platform.
12:27 GMT

The Yokne'am-based company, Amazon's first Israeli acquisition, is building an innovative semiconductor platform.

Nakheel had piled up a mountain of debt during five years of rapid growth in Dubai's property sector.
09:29 GMT

Dubai real estate giant Nakheel, hit badly during the global debt crisis, said Wednesday its profits surged 43 percent on year in 2014 to $1.0 billion.

Air traffic in Dubai was halted for nearly an hour on Friday due to public misuse of recreational drones near the flight path.
05:55 GMT

He said such recreational drones pose a serious risk to the safety of air navigation as well as passengers, he said.

Kuwait’s government has announced that it will launch a crackdown on illegal residents, which is expected to lead to the arrest of more than 100,000 residents currently living in the country.
04:55 GMT

The crackdown will be the largest operation ever, conducted by the authorities in Kuwait, an official said.

January 24, 2015

King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world's top oil exporter.
15:28 GMT

Oil prices rose on Friday after the death of Saudi Arabia's King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.

"What is happening now is Kingdom policy, not just the King's policy," said analyst Yasser Elguindi of Medley Global Advisors
10:59 GMT

Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role.

January 22, 2015

Oil prices are unlikely to fall further after a plunge of nearly 60 percent since June,
17:43 GMT

“Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this,” Abdul Mahdi told a conference in Kuwait.

He blamed the private sector for employing unskilled expatriates just because they are cheap hands.
17:40 GMT

About 2.5 million expatriates are either illiterate or have little or no education at all, Makkah Arabic daily reported on Wednesday.

Although this figure is relatively higher that the global average of 37 per cent of CEOs, it has declined from the massive 69 per cent in the previous survey.
17:32 GMT

Almost 44 per cent of CEOs in the Middle East said that they are ‘very confident’ that their company’s revenues will grow in the next 12 months,