Main headlines

May 9, 2013

STC Ventures Invests $3 Million in Jabbar's Ad Network ikoo
11:26 GMT

ikoo, the integrated digital marketing solution provider with the largest reach in the Middle East and North Africa [MENA], announced a major partnership with STC Ventures, backed by Saudi Telecom Company, which has invested US$3 million in the company.

 A petroleum refinery of Qatar Petroleum stands on October 26, 2011 near Umm Sa'id, Qatar. Qatar is ranked 16th in countries with the biggest oil reserves and 3rd in natural gas reserves. (Photo by Sean Gallup/Getty Images)
10:52 GMT

Qatar Petroleum plans to list on Qatar Exchange four subsidiary companies worth $50 billion over the next two years, Qatar Exchange Chairman Hussein Ali al Abdullah said, in Doha, on Wednesday.

Total oil and gas revenues were down 17 per cent at Dh2.4 billion for the first quarter
10:38 GMT

Abu Dhabi National Energy Company, also known as Taqa, on Wednesday said its first-quarter profit before tax fell 68 per cent to Dh445 million due to lower production in the UK North Sea.

Bahrain Development Bank
10:38 GMT

Tamkeen signed an agreement with Bahrain Development Bank (BDB) to add BD10 million to the Enterprise Financing Portfolio

The lobby of one of Marriott Residences Inn
07:46 GMT

Marriott International plans to aggressively grow its portfolio of 'extended stay’ segment which includes brands like the Marriott Executive Apartments and the Residence Inn, in the Middle East over the coming few years, according to a senior Marriott executive.

Saraya Bandar Jissah
07:41 GMT

Saraya Bandar Jissah will have a major positive impact on the economy of the sultanate, said chief executive Sheikh Hamood Sultan al Hosni on Tuesday, as he hailed the progress in ongoing construction work.

A snapshot of the new website
06:19 GMT

The Coastal Zone and Waterways Management Section at Dubai Municipality has recently started running a website which details the coastal monitoring programme.

General View during the final day at the Cartier International Dubai Polo Challenge at the Desert Palm Hotel on February 22, 2013 in Dubai, United Arab Emirates. (Photo by Ian Gavan/Getty Images for Cartier)
06:19 GMT

UAE trade with GCC countries through Dubai is estimated at Dh95 billion in 2012 up 28 per cent compared to the previous year. Saudi Arabia accounted for 41 per cent of overall trade, Dubai Exports, An Agency of the Department of Economic Development (DED) said yesterday.

Abdullah Al-Suweilmy with Richard Banks, director, emerging markets of Euromoney, in Riyadh. (AN photo by Ahmed Fathy)
05:30 GMT

The Saudi stock market could possibly take the lead in any moves for integration of regional exchanges, say industry analysts.

May 8, 2013

Direct foreign ownership in Saudi equities would be the next evolutionary step
14:43 GMT

The Capital Market Authority is finalizing a regulatory framework which will allow foreigners to directly own stocks in Saudi Arabia, though the market has no need for liquidity from international investors, says its Chairman Mohammed bin Abdulmalik Al-Sheikh.

Prospects bright for solar power in Oman
12:34 GMT

The Public Authority for Electricity and Water (PAEW) has identified four potential locations for the establishment of large-scale solar power projects, and land has been allocated at two of these places, according to a senior official.

Abu Dhabi is poised to make huge yields from the location of the company’s second spaceport in the capital of the UAE
12:22 GMT

The UAE is in talks with Virgin Galactic to start commercial space flights in 2013 with Abu Dhabi as a regional hub for the 21st Century spaceport, said Frank Rose, deputy assistant secretary (Space and Defense Affairs) at the US Department of State.

A shop in Tahrir Square is spray painted with the word Twitter after the government shut off internet access on February 4, 2011 in Cairo, Egypt. (Getty Images)
12:13 GMT

Today, well over two years into the Egyptian revolution, increased numbers of Egyptian youth are still struggling to find jobs. With political instability looming large, the economy receives one blow after another.

Construction workers in Saudi Arabia
11:38 GMT

Water provision and road development projects worth SR 1 billion are progressing well in the governorates of Al-Kamil and Khulais, according to Makkah Gov. Prince Khaled Al-Faisal.

Rationalization of subsidies, particularly on fuels for non-targeted participants is needed to improve Saudi productivity
11:10 GMT

Saudi Arabia should cut energy subsidies that are burdening public finances, the economy minister and the head of the state-run utility said, a move that would also tackle the issue of erosion of crude exports.