November 11, 2012
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.
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 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
Blueprints for a Gulf union to replace the existing Gulf Co-operation Council (GCC) are still under review.
Djibouti is planning to establish Islamic finance institute to home grow its human capital, its Central Bank Governor revealed to Islamic Business Finance.
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 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.
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
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 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.
Financial reform is real and having an effect on the budget deficit already, says government minister.
International Air Transport Association (IATA), on Tuesday said there are immense opportunities to further develop aviation in the Mena region.
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
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, 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.