Main headlines

November 11, 2012

Iraqi Prime Minister Nuri Al Maliki's office has said that it is cancelling a $4.2 billion dollar arms deal with Russia
06:46 GMT

Iraq has cancelled a billion-dollar arms deal that would have made Russia the second-largest importer of weapons to the country after the USA. Baghdad has cited potential corruption in the contract, which was worth $4.2 billion.

Can Tehran control inflation?
04:00 GMT

Iran's rate of inflation rose by 1.4 percent in the Iranian calendar month of Shahrivar (from August 22 to September 21) and reached 24.9 percent as Tehran struggles with Western sanctions and a currency crisis.

Internet speeds in Lebanon have improved dramatically as the country prepares for 4G connectivity
03:00 GMT

Internet connection speeds in Lebanon have increased significantly, according to the Telecoms Ministry. Speeds are now 15- 18 times faster than 2011, as the country plans to move to 4G connectivity, announcing "The new network is 4G-ready".

November 8, 2012

The GCC's General-Secretariat has been tasked to study the presented visions and comment on them
13:28 GMT

Blueprints for a Gulf union to replace the existing Gulf Co-operation Council (GCC) are still under review.

Djibouti started to develop an Islamic finance industry five years ago
13:12 GMT

Djibouti is planning to establish Islamic finance institute to home grow its human capital, its Central Bank Governor revealed to Islamic Business Finance.

Hospitality sector vows to ignore smoking ban
08:45 GMT

At least one portion of the Lebanese community are still up in arms about the smoking ban that is costing them good business. Restaurant owners and members of the hospitality industry have come out to protest non-smoking policy.

US judge dismisses Hamas financing suit against Arab Bank
08:09 GMT

US District Judge Jack Weinstein in Brooklyn, New York, held that dual Israeli-US citizen Mati Gill could not prove the Arab Bank was responsible for injuries he sustained in 2008 from gunshots fired from Gaza into Israel.

iphone 5
03:00 GMT

There’s still no word from Apple as to when UAE residents will be able to pick up the much-hyped gadget.

November 7, 2012

A fire burns on a gas pipeline in the town of Al Arish, North of Sinai. The pipeline, which supplies gas to Jordan and Israel, has come under attack at least 15 times since Egyptian resident Hosni Mubarak was toppled in 2011
12:12 GMT

Egypt has agreed to boost Jordan’s gas supplies, Minister of Energy and Mineral Resources Alaa Batayneh announced on Tuesday, ending a months-long dispute over the country’s former primary energy source.

RJ to suspend flights to Muscat
11:31 GMT

RJ has suspended flight operations from Amman to Muscat for commercial reasons. He pointed out that Royal Jordanian and Oman Air are working on concluding a code share agreement to enable the RJ customers to travel between the two cities under the RJ code.

The budget deficit excluding grants has declined to JD1.1 billion during the first nine months of 2012 from JD1.2 billion during the same period last year
10:50 GMT

Financial reform is real and having an effect on the budget deficit already, says government minister.

International Air Transport Association (IATA).
10:07 GMT

International Air Transport Association (IATA), on Tuesday said there are immense opportunities to further develop aviation in the Mena region.

The proposal is estimated to cost the treasury between LL2.25 trillion and LL3 trillion (around $1.5 to $2 billion) a year
03:00 GMT

The Parliament is unlikely give its seal of approval for the Cabinet’s comprehensive tax proposals to fund the salary scale amid wide expectations that this hot issue will be passed along to the next government, economists and observers said Monday.

November 6, 2012

Cyprus has signed delineation agreement with Egypt, Israel and Lebanon
12:54 GMT

Foreign ministers of Egypt and Cyprus have said the prospect of cooperating to exploit offshore hydrocarbons reservoirs is vast. However a “dispute between Egypt and Israel might ensue”, suggest expert forecasts.

Jebel Ali Free Zone.
10:40 GMT

Jebel Ali Free Zone, home to the largest port and free zone in the Middle East, contributes a fifth to Dubai’s Dh300.83 billion economy, a top official said on Monday.