Main headlines

February 5, 2013

Tunisia is nearing agreement with the International Monetary Fund for a $1.78 billion standby loan.
06:09 GMT

Tunisia is nearing agreement with the International Monetary Fund for a $1.78 billion standby loan to protect the economy from external shocks, the IMF said on Monday.

The Kuwait Fund for Arab Economic Development has offered Lebanon a $85 million loan for electricity development
05:58 GMT

Kuwait issued Lebanon a $85 million yesterday to finance upgrade work on two power plants.

Egypt’s Salafist Nour Party is pushing for an increasing in the national minimum wage
04:00 GMT

The Salafist Nour Party has drafted a law that would increase the minimum wage for Egyptian workers to LE1200 ($178) a month.

February 4, 2013

Fuel subsidies in Egypt cost the government  $30 million daily, according to the Minister of Petroleum
12:41 GMT

Egypt's government subsidizes gas oil by around $30 million daily, Minister of Petroleum Osama Kamal said on Sunday.

Despite defaulting on an Islamic bond last year, Dana Gas, has posted a 20 per cent rise in profits
12:06 GMT

Dana Gas, the Abu Dhabi-listed energy firm which defaulted on an Islamic bond, said yesterday its full-year net profit for 2012 rose 20 per cent on the back of higher oil prices and lower costs says Reuters.

Iran's former Central Bank boss is thought to have been arrested on suspicion of money laundering
11:35 GMT

Iran's former central bank chief is thought to have been arrested at a German airport with a cheque for $70 million on suspicion of money laundering. Could he be trying to help out his former bosses in the Islamic Republic?

Despite ongoing political instability, the Egyptian economy grew by 2.6 per cent in the first quater of the 21012/13 fiscal year
11:00 GMT

The Egyptian economy grew by 2.6 per cent in the first quarter of the fiscal year 2012/13, up from 0.3 per cent in the previous year.

Etihad Airways posted a 200 per cent increase in profits for 2012
10:20 GMT

Etihad Airways, flag carrier of the UAE, posted a tripling of profits, up by 200 per cent for last year.

Lebanon's five listed banks posted losses only masked by the sale of Audi’s insurance arm, LIA Insurance SAL
08:59 GMT

Lebanese banks posted an aggregate 2.4 percent growth in profits in 2012, but without the sale of Audi’s insurance arm, LIA Insurance SAL, results would have been a 2.1 per cent overall decline in the sector.

Fuel demand in Jordan is creeping up despite the government raising the prices in November last year
08:40 GMT

Jordanians’ consumption of oil derivatives in 2012 increased by 6.5 per cent compared with the previous year despite an increase in fuel prices, according to the Gas Stations Owners Association (GSOA).

Oman Air is increasing its fleet as well as  increasing operations to India
08:08 GMT

Oman Air, the flag carrier of the Sultanate, has acquired two additional aircraft as the airline expands it s operations with India.

 A Kuwait MP has called for a single unitary visa for foreigners visiting GCC nations
07:51 GMT

A Kuwaiti lawmaker has called for the adoption of a single visa for foreigners planning to visit the Gulf Cooperation Council (GCC) countries.

The budget deficit in Egypt rose to LE91.5 billion in the first six months of the current 2012/13 fiscal year that began last July
05:00 GMT

Egypt's budget deficit reached LE91.5 billion in the first six months of the current 2012/13 fiscal year that began last July, the Egyptian Ministry of Finance reported on Sunday.

February 3, 2013

Top Technolight executives with guests and key representatives from construction and decoration consultant companies.
14:02 GMT

Technolight, a leading Saudi company for modern lighting techniques and equipment, has opened its new showroom in Riyadh

Wine is the only product bucking the trend of declining exports from Lebanon due to the unrest in Syria.
13:56 GMT

Wine is the only product bucking the trend of declining exports from Lebanon due to the unrest in Syria.