Main headlines

October 7, 2012

Arab banks set to register increased profits
11:25 GMT

Profits at Arab banks are looking ser to reach a net profit of $38 billion by the end of 2012 financial year, registering a three per cent increase from 2011.

Is Iran jamming US broadcasts in response to the rial crisis?
10:26 GMT

As the fallout of the rial currency crisis continues in Iran, the US has accused the Islamic Republic of jamming US-sponsored broadcasts in the GCC and the Middle East.

Saudi to top oil investment in the MENA region
09:33 GMT

Investment in oil in the MENA region is expected to top $740 billion over the next five years, lead by Saudi Arabia.

Strikes are reported at Foxconn factories where the iPhone 5 is made
08:19 GMT

Thousands of workers at a Foxconn plant in China have reportedly been on strike over working conditions. The plant where the iPhone is made has struggled with labour rights and has seen a spate of suicides over recent years, along with allegations of the mistreatment of staff.

Construction in Lebanon is slowing down
07:15 GMT

The construction industry in Lebanon is struggling, as part of a wider economy that is being buffeted by the Eurozone and the overspilling of the Syrian conflict, shown by cement deliveries slowing down.

Saudi Arabia rebuffs IMF budgetary claims
07:03 GMT

The IMF has claimed that the budget surplus being run by Saudi Arabia is decline before dropping into deficit have been rebuffed by the Saudi Kingdom as a "doomsday scenario"

IMF boss Legarde praises the GCC
06:02 GMT

Christine Legarde has sung the praises of Gulf arab countries and their management of oil prices and reserves at a conference with senior GCC officials.

Jordan receives $250 million as part of pledges from the GCC
06:00 GMT

Kuwait has transfered $250 million to the Central Bank of Jordan (CBJ), as the first tranche of GCC support for the Kingdom this year.

October 4, 2012

The Tunisian government is planning on increasing the 3G mobile market
14:08 GMT

The Tunisian government has announced that in their push to boost the 3G and mobile markets, they will break up the country’s fixed-line monopoly to promote diversification and competition.

The Central Bank of Kuwait takes action to ease pressures on the economy
13:39 GMT

The Central Bank of Kuwait has taken measures to increase liquidity in the banking sector as inflationary pressures remain.

New Islamic banks in Oman wil struggle against established competitors, such as HSBC
13:16 GMT

New Islamic banks set up in Oman will struggle initially to compete with established conventional banks offering Sharia-compliant services when the country opens up its banking market, said an international rating agency in a statement

Manufacturing took dropped in  Palestine in a worrying sign for the economy
13:03 GMT

The economy of Palestine took another blow on Thursday as the Quantity of Industrial Production Index (IPI) registered a decrease of 6.25 per cent in manufacturing output.

Global economy to remain fragile for years to come, says IMF
12:36 GMT

As the sluggish growth of the Chinese and US economies mixed with the Eurozone and Middle East tensions attest, the global economy is facing another six years of turmoil, according the IMF.

Morocco and Spain plan to increase economic ties
10:36 GMT

A top level Spanish delegation headed by Prime Minister Mariano Rajoy held talks with Moroccan officials in Rabat on Wednesday. Despite their historic political differences, the two countries

Iran must deal with the International Community to resolve the crisis
10:08 GMT

As the Iranian economy falters with the rial nosediving to record levels against the dollar, and protests erupting in the capital Tehran, U.S. Secretary of State Hillary Clinton has said that that sanctions on Iran could be " remedied in short order" if the Republic works sincerely to deal with its alleged nuclear programme.