Main headlines

November 13, 2012

The UAE is increasing the scheme to assist UAE citizen with debt releif
03:00 GMT

Joining an initiative launched by President His Highness Sheikh Khalifa Bin Zayed Al Nahyan to settle the debts owed by UAE citizens, four more banks operating in the country signed on agreements with the Debt Settlement Fund for UAE nationals

November 12, 2012

Apple and HTC have settled their long running patent dispute
12:52 GMT

Apple and Taiwanese smartphone maker HTC have settled all of their outstanding patent disputes, they said.

No nuclear power for Jordan as costs make it prohibitive and could make the country's energy crisis worse
11:47 GMT

Jordan is looking set to cancel its planned foray into nuclear power. The Kingdom, which imports 96 per cent of its energy, has been looking at ways to become self-sufficient, but the cost of the nuclear option in prohibitive for the relatively poor nation.

Trouble ahead for the Egyptian economy
11:25 GMT

Former Egyptian Finance Minister Samir Radwan warned of a severe financial crisis to hit the country if serious steps are not taken to salvage the collapsing economy, as foreign investment drops sharply.

Saudi Arabia and gulf states have said that they will increase oil supply should there be a decrease if, for example, Iran close the Straight of Hormuz
10:39 GMT

Saudi Arabia and oil-producing Gulf states are ready should there be any drop in the oil supply in world markets, with Saudi's oil minister saying the Kingdom "its output on demand, not prices'.

Bourse and fireworks : Everything is going up in Kuwait
10:09 GMT

Kuwait celebrated the 50th anniversary of the country's constitution with a large fireworks display, but also rising high in to the sky was the bourse - the stock exchange - as Kuwait gears up for elections in early december.

Yemen and the UK have held talks on the future of the Aden refinery
08:07 GMT

Yemen's Aden Refinery Company and the UKs Department for International Development (DFID) have held meetings to discuss the redevelopment of Aden refinery in the coming months.

Middle East Airlines boss has said that flat results would be a positive result owing to local and regional instability
07:35 GMT

Middle East Airlines CEO Mohammad Hout said he hoped Lebanon’s flag carrier would post flat profits in 2012 amid a sharp drop in the number of tourists from the GCC.

Iranian gas condensate exports have topped $1 billion
07:01 GMT

Iran’s exports of gas condensates amounted to more than $1 billion in the last month, a customs official was quoted as saying, easing the impact of Western sanctions that are gripping the country.

The government in Egypt  is set to reduce subsidies on gasoline in the coming days
06:41 GMT

The Egyptian government will cut subsidies on 95-octane gasoline in a few days, in part of a plan to reduce subsidies, as the country prepares for a new round of talks with the International Monetary Fund.

After the revolution, Egypt has attempted to recover money from corrupt officials
03:00 GMT

Egypt has recovered around $1.8 billion in funds and lands corruptly appropriated by Mubarak-era figures, the state-run daily newspaper Al-Ahram has reported

November 11, 2012

Debtors in Abu Dhabi have been given a reprieve by the President
12:29 GMT

In an announcement that invoked the memory of Dickensian work houses for those who could not pay their debts, the UAE has released 290 Emirati defaulters in Abu Dhabi and called on other citizens in similar situations to ask for assistance.

Inflation is beginning to ease in Kuwait
11:45 GMT

As Kuwait struggles with the largest ever protests seen on its streets, inflation is beginning to eases, helped by a reduction in the cost of food, which had been a major source of upward pressure.

Saudi Arabia's Grand Mufit calls it 'haram' for  citizens to talk to foreign media
10:42 GMT

Saudi Arabia’s Grand Mufti has issued a religious edict prohibiting contact and cooperation with foreign media outlets that are seeking to “spread chaos and strife in Muslim lands”, adding that it is 'haram' to co-operate with foreign news organisations.

Saudi oil exports have been valued $245 million as domestic consumption also increases
10:29 GMT

Saudi Arabia exported nearly 2.25 billion barrels of crude oil in the past 10 months of the current year valued at SR 921 billion ( $245 million), as domestic consumption also increases.