Main headlines

February 20, 2013

Nominal GCC GDP is to hit a record high, according to a leading regional expert
12:03 GMT

The nominal gross domestic product (GDP) of Gulf region reached a new record high of $1.56 trillion in 2012, up from $1.44 trillion the previous year on the back of resilient oil prices and record exports, said a leading economist.

Saudi Arabia’s gross domestic product grew by 31 per cent in 2011, according to a new report
11:52 GMT

Saudi Arabia’s gross domestic product at current prices increased by a massive 31 per cent, according to new statistic released yesterday.

Apple was targeted by the same hacking group that attacked Facebook last week
10:54 GMT

Tech giant Apple has said its computers were attacked by the same hackers that targeted Facebook last week.

Jordan's decision to cancel winter time saved the Kingdom $7 million, according to the country's Energy Minister
10:34 GMT

The last-minute decision by Jordan's government to cancel winter time resulted in saving the Kingdom $7 million over the course of darker months, Energy Minister Alaa Batayneh said on Tuesday.

Former Egyptian PM and Presidential candidate Ahmed Shafiq is to be referred to trial for embezzling public funds
08:01 GMT

Egyptian prosecutors have referred former prime minister and presidential candidate Ahmed Shafiq, his three daughters and 10 other accomplices to trial for embezzling public funds in the 'pilots housing' case.

The gas facility at the centre of the Algeria hostage crisis is set to restart production on February 24
07:49 GMT

The gas facility at the centre of the Algerian hostage crisis in January will resume production by February 24, state media reported on Monday.

Jordan has created 8,800 jobs in just ten days to help ease unemployment in the Kingdom
07:21 GMT

Around 8,800 jobs have been secured within 10 days under the National Employment Campaign launched last month, the Jordan News Agency, Petra, reported.

Economists have warned against Lebanon's PM Mikati's real estate plans
07:01 GMT

Lebanon's Prime Minister Najib Mikati’s proposal to allow real estate developers to add an additional floor in return for higher taxes could cause the prices of properties to soar beyond the means of average Lebanese citizens, economists say.

Job creation isn't the government's job alone, the country's industry minster claimed on Tuesday
03:00 GMT

Employment opportunities for Egypt's young cadres should fall to country's private sector as well as government, Industry Minister Hatem Salah said in a conference on Tuesday.

February 19, 2013

Egypt will begin to reduce fuel subsidies in April, the country's minister of petroleum and mineral resources said on Monday.
11:53 GMT

Egypt will begin to reduce fuel subsidies in April, the country's minister of petroleum and mineral resources said on Monday.

Citrus exports from Lebanon are surging
11:53 GMT

Lebanese agricultural exports rose by 14 percent in 2012 despite the volatile situation in the region, the head of the Investment Development Authority of Lebanon said Monday.

Bahrain is to receive $3.5 billion form the UAE for development projects
10:14 GMT

The UAE has granted Bahrain $2.5 billion to help fund development projects.

Turkey's foreign Minister urged businesses to invest in the MENA region
09:58 GMT

Turkey's Foreign Minister, Ahmet Davutoglu, called on Turkish businessmen to invest in the Middle East and North Africa.

India is to increase its investment in Egypt, the Indian Ambassador said yesterday
09:31 GMT

The size of India's investments in Egypt is expected to be doubled through 50 Indian companies working in different fields in Egypt, Indian Ambassador to Egypt Navdeep Suri said on Monday.

Oil companies in Lebanon deny fuel has been re-exported to Syria [file photo]
08:03 GMT

Oil companies yesterday vehemently denied media reports that they have re-exported fuel oil to Syria.