Main headlines

October 8, 2014

The two parties met in court for the first time this week for a hearing to discuss costs incurred in relation to the abandoned application, among other issues.
13:07 GMT

Goldman Sachs has been ordered to pay the Libyan Investment Authority (LIA) 200,000 pounds ($321,820) in legal costs as part of a lawsuit brought by the fund over $1 billion in trades that ended up worthless.

After the deal closes in November, Chevron Canada will remain the operator and will hold a 70 per cent interest in the project.
05:55 GMT

“It’s simply a funding source that historically Chevron would not have looked at, but they are spending a lot on developing LNG and offshore so are looking at monetizing some of their assets sooner than they normally would.”

Morocco’s marijuana farmers live in a strange limbo in which the brilliant green fields are largely left alone, while the growers face constant police harassment.
04:55 GMT

Morocco is joining many other countries, as well as some U.S. states, in re-examining policies toward drugs and looking to some degree of legalization.

October 7, 2014

He also said that the link between the giant Chinese economy and the rest of Asia does not only involve demand,  which is expected to weaken due to the slowdown.
17:14 GMT

“China’s slowdown is gradual... It is slower but it’s not the bottom falling out of China’s growth,”

Walt Disney Co has come to the rescue of its loss-making subsidiary EuroDisney with a 1 billion-euro ($1.3 billion) funding deal announced on Monday.
12:08 GMT

Euro Disney is currently 40 percent owned by Walt Disney and 10 percent by Prince Al-Waleed bin Talal.

Service contracts stay within the limits of Kuwait’s constitution, which ban foreign firms from oil production in the Gulf OPEC crude exporter.
05:55 GMT

Service contracts stay within the limits of Kuwait’s constitution, which ban foreign firms from oil production in the Gulf OPEC crude exporter.

The IMF has warned that Yemen's fiscal deficit would reach 9 percent of gross domestic product in 2014 and foreign reserves would decline to well below three months of imports in the absence of economic reforms.
04:55 GMT

Lagarde, in the IMF's first direct, public comment on the latest Yemeni policy changes, said they did not endanger the loan programme.

Zafar will be sent into a geostationary orbit, which is a circular orbit around 36,000 kilometres (22,320 miles) above the Earth’s equator.
04:55 GMT

The satellite will reportedly have a lifespan of one year and six months, and will capture images and transmit them to stations on earth.

October 6, 2014

The initial results for the 3-D survey were very encouraging, according to the British-based company Spectrum, which conducted the operation over 3,000 square meters off the southern Lebanese coast.
22:43 GMT

The U.S. Company NEOS Geo Solutions, which signed a contract with the ministry of energy in January, flew one of its planes equipped with sensors over the Bekaa Valley in clear weather.

Egypt's debts to foreign energy firms operating in the country increased after the political turmoil which followed the 2011 revolution.
14:50 GMT

Last week, the petroleum minister announced that the government had paid $1.5 billion of its arrears to energy companies.

More than buying gold jewellery as a fashion statement, with delicate designs, currently sellers have also noticed an increased sale in simple, but heavy jewellery.
14:34 GMT

Apart from it being the festive season, the increased sales of gold in Dubai can be owed to the low prices currently.

October 5, 2014

IMF Managing Director Christine Lagarde speaks at Georgetown University in Washington on Oct. 2, 2014 ahead of the annual IMF/WB meetings. (AFP/Nicholas Kamm)
08:38 GMT

IMF managing director Christine Lagarde warned of the fragile recovery of the global economy and the effects of the turmoil in the Middle East, especially the war against ISIS and the instability of Iraq and Syria, which could trigger higher global oil prices.

October 2, 2014

The Saudi government had requested the purchase of 202 Patriot Advanced Capability (PAC)-3 missiles -- the most sophisticated version of the Patriot anti-missile weapons.
16:30 GMT

"The proposed sale will help replenish Saudi's current Patriot missiles which are becoming obsolete and difficult to sustain due to age and the limited availability of repair parts," the agency said.

Emaar Properties is now worth less than it was before the sale of 15 per cent of EMG in the IPO.
15:46 GMT

The DFM looks particularly overbought as one of the best performing stock markets in the world, up 50 per cent year-to-date, and could well be heading for a fall.

Once the device "recognised" a suspect based on a face print, it would alert the officer wearing the gadget.
15:30 GMT

Dubai's decision appears in line with the authorities' determination to spare no expense in equipping the police.