Main headlines

October 7, 2014

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.

Qatari Diar, the real estate arm of Qatar's sovereign wealth fund, stepped in with financial aid last year, agreeing to buy some of Barwa's assets for $7.1 billion.
14:57 GMT

The sale was agreed on September 30 and will have a positive impact on the company's financials.

With oil prices continuing to slide, the pressure is building on the Organization of the Petroleum Exporting Countries (Opec) to reduce output at its meeting next month.
14:43 GMT

"Opec appears to be gearing up for a price war."...."I think Brent will fall below $88 before we see the bottom of the market."

At the Africa forum, Shaikh Ahmed also expressed that Dubai’s leadership is concerned that rising property prices could make the emirate too expensive and it will consider steps to limit increases.
13:46 GMT

The new 2022 payment will also be augmented in a number of ways aimed at persuading creditors to grant more time, according to reports.

Storing gas also gets momentum when other factors come to the fore: Economic support, safe margins in meeting country’s domestic gas needs, the half-depletion of oil reserves, etc.
04:55 GMT

Shourijeh will turn Iran into the greatest gas storage hub in the Middle East, and one of countries with underground storage facilities of natural gas

October 1, 2014

Currently under way is the multibillion dollar expansion of the airport to increase the overall capacity to over 40 million passengers per year
21:46 GMT

In August 2014, the top five routes from Abu Dhabi International Airport were Bangkok, London, Doha, Manila, and Bahrain.

“DV-2016 visas will be issued between October 1, 2015 and September 30, 2016,” the statement added.
20:46 GMT

The annual DV programme “makes US immigrant visas available through a computer-generated random lottery for persons who meet strict eligibility requirements”.

Saudi Arabia is the second-largest petroleum exporter to the US, but as domestic production increases in America, less is needed from abroad.Saudi Arabia is the largest exporter of petroleum liquids in the world and is home to the world’s largest proven crude oil reserves, 16 percent of the world’s total.
12:52 GMT

The shale oil boom in the US began in 2008 and has increased US crude output by 60 percent