Main headlines

December 14, 2014

Corruption has a negative impact on development, creating obstacles to growth and causing particular harm to the poorest.
05:55 GMT

In 19% of cases, civil servants caught accepting bribes were left uninvestigated, with another 41 % of investigations opened but not concluded, according to a World Bank statement issued Friday.

The 1.85 million euro EU-funded project aimed at enhancing Lebanon’s tax collection process both quantitatively and qualitatively.
04:55 GMT

The European Union announced Friday the completion of a project to modernize Lebanon’s tax administration after nearly two years of cooperation between the French and Lebanese Finance departments.

December 12, 2014

Strong economic growth across the region has also led to an increase in demand for human resources professionals
20:06 GMT

Average salaries in the UAE for professional roles rose by just two per cent over the last 12 months.

December 11, 2014

“I am not particularly happy as you can imagine,” Clark said in a telephone interview.
17:05 GMT

The head of Dubai-based airline Emirates has reacted angrily to a suggestion by Airbus that it might stop making its A380 superjumbo airliner.

Saudi Arabia will stop buying domestically-grown wheat in two years' time and rely completely on imports of the grain
16:56 GMT

By investing tens of billions of dollars, the desert nation's output grew through the 1980s until it ironically became one of the world's largest wheat exporters.


Riyadh has said its oil policy is based on economic principles.
16:40 GMT

Iranian President Hassan Rouhani has blamed unnamed countries of plotting to bring down crude prices.

The Ministry of Labor has taken penal action against as many as 707 companies and establishments, which failed to implement a mandatory Wage Protection Program.
16:28 GMT

Abdullah Abu Thunain, deputy minister for inspection and work environment development, said that the punitive measures were taken following raids carried out by inspectors

The deal is expected to complete by the end of the first quarter of 2015, with the proceeds going toward general corporate purchases.
10:37 GMT

Constellation Hotels, part of the Qatar Holding investment vehicle, has reached an agreement with InterContinental Hotels Group to buy its iconic InterContinental Paris Le Grand hotel for €330 million ($405 million).

Bayoumi said that Egypt and the EU have implicitly agreed to resume the technical committees of the partnership’s work.
10:30 GMT

The European Union (EU) proposed a new trade agreement for countries participating in partnership agreements with Europe last week.

In its World Economic Outlook report in October, the IMF estimated Iraq's gross domestic product would shrink 2.7 percent this year.
04:55 GMT

The International Monetary Fund on Tuesday said Iraq's oil-dependent economy was expected to contract much less than previously thought this year due to rising oil production.

December 10, 2014

"I can't accept having my history stigmatised with approving a deal that might harm Jordan and Jordanians. The government is here to serve the country and its interests," the premier said.
21:32 GMT

Lawmakers on Wednesday recommended that the government shelve a planned natural gas deal with Israel following two long sessions dedicated to discussing the controversial issue.

"The weaker the family, the more members in a family, the greater the savings will be," he said.
20:13 GMT

That is higher than a poll conducted before the last election in January 2013, when 43 per cent cited economic issues and the cost of living as the biggest concern.

The Gulf carrier is one of Airbus's biggest clients, albeit a very demanding one.
20:01 GMT

"We want everything to be absolutely perfect," chief executive Akbar al Baker said in June after postponing the delivery of 13 A380 super jumbo planes, eventually received in September.

The scholarships have been granted for the Introduction to Clinical Research Training programme (ICRT).
19:27 GMT

The Dubai Health Authority’s (DHA) Medical Education Department, in association with Harvard Medical School, has granted 15 scholarships to DHA medical professionals.

The Saudi market’s drop in the last few weeks has nearly wiped out the benchmark’s year-to-date gains, which now stand at just 1.1 percent.
19:15 GMT

Most stock markets in the Gulf fell sharply Tuesday after oil prices hit five-year lows, triggering a fresh wave of panic selling of shares by local retail investors