Main headlines

November 16, 2014

Russia faces a 70 percent chance of recession in the next 12 months, economists project.
04:55 GMT

....and buy every Russian an iphone 6.

Shareholders' equity totalled JD771 million at the end of September 2014, higher than the JD762.3 million as of December 31, 2013.
04:55 GMT

Jordan Phosphate Mines Company (JPMC) maximised its operational profit by 217.3 per cent, or JD22.9 million, during the first nine months of this year.

November 14, 2014

Kuwait plans more than $40 billion of investment to significantly increase its capacity to produce oil and gas
00:39 GMT

The Gulf nation aims to raise the amount of crude oil it can pump by one-quarter, to 4.0 million barrels per day, by 2020.

November 13, 2014

“Syrians will be given work permits in a coherent manner so that no harm is inflicted on the local system in Turkey.
15:39 GMT

The Turkish government is preparing to grant temporary IDs and work permits, among other privileges, to around 1.7 million Syrian refugees.

Oil in October fell below $83 a barrel and on Tuesday reached $80.46, its lowest since 2010.
04:55 GMT

Global demand for oil from Opec next year will be far below its current output level because of the US shale boom,

November 12, 2014

Kuwait's real estate growth was supported by a strong performance in the investment sector. (AFP/File)
09:07 GMT

Real estate growth in Kuwait grew by 16 percent year-on-year to $1.27 billion in September after a slow summer, according to a report.

The initial start-up project is scheduled to be achieved by Q4 2018. (Image: Komec)
08:39 GMT

Abu Dhabi Marine Operating Company signed three big-scale contracts worth an estimated $3 billion for the widely anticipated Nasr Full Field Development Project.

Yahoo downplayed cutting down its operations in the MENA region. (Image: Fast Company)
07:57 GMT

International internet portal Yahoo denied rumors of closing down its Dubai headquarters following the closure of offices in Amman and Cairo.

Descon Engineering is a major Abu Dhabi firm. (File)
07:30 GMT

Leading Abu-Dhabi-based firm, Descon Engineering, will expand in the GCC and Iraq with $250 million worth of projects.

CEO of New Medical Center Group of Companies, B.R. Shetty, will invest millions in Saudi's new Jazan industrial city. (Shutterstock)
06:53 GMT

A top Indian billionaire will invest up to $266.5 million in Saudi Arabia's healthcare and pharmaceutical manufacturing sector.

Neither."
04:55 GMT

The Islamic State of Iraq and the Levant (ISIL) may have smuggled oil into Turkey with donkeys carrying it across the border.

November 11, 2014

Annual inflation reached its highest rate in nearly four years a year ago, then began falling until the fuel price hikes in July.
21:04 GMT

Egypt's annual urban consumer inflation quickened to 11.8 percent in October from 11.1 percent in September

Kuwait has no plans to cut its own crude production, which should increase to 4 million barrels from a current by 2020,
19:20 GMT

OPEC, which supplies about 40 percent of the world’s oil, meets Nov. 27 to debate supply.

The building has featured in a number of films including boy wizard adventure “Harry Potter and the Half-Blood Prince.”The new purchase price was not disclosed Monday, though the Financial Times reported it had been sold for 726 million pounds, citing sources.
18:21 GMT

The new purchase price was not disclosed Monday, though the Financial Times reported it had been sold for 726 million pounds, citing sources.

"We need to put policy on it. We need to put an order to it so we can do something regarding consumption."
14:01 GMT

"You need to do something about subsidies. Maybe a producing country can turn into a consumer country," Sabt said on the sidelines of an energy conference in Abu Dhabi.