Main headlines

January 14, 2015

Airbus was dealt a blow in June when Emirates canceled an order for 70 A350s.
20:07 GMT

Airbus clung to the top spot in commercial plane orders by confirming it outsold Boeing last year.

Last year, Jeddah’s KAIA was ranked the world’s worst airport by a website called A Guide to Sleeping In Airports.
14:04 GMT

Saudi Arabia’s plans of privatisation come amidst a flurry of negative feedback it received about one of its airports.

Half of Egypt's population lives in informal slum areas, according to statements from urban development and slum areas.
13:53 GMT

Consecutive Egyptian governments have vowed to develop the informal areas where millions of Egyptians live without basic services such as clean water and sewage.

Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast for the benchmark in 2015 to $50.40 a barrel from $83.75.
04:55 GMT

Gulf stock markets ran out of steam on Monday after several strong sessions as oil prices fell by more than $1 a barrel.

The minister previously announced that the issuance of the bonds will occur during the first quarter of 2015.
04:55 GMT

The collection of $1.5bn through the issuance of international bonds is expected by April.

He, however, did not explain how the laws would work but said details would be released soon.
04:55 GMT

The UAE, last week targeted illegal fuel agents in the country and, Kuwait has also moved swifly against those involved in these operations.

January 13, 2015

US crude for February was down $1.23 at $44.84 a barrel, off an intraday low of $44.20.
23:53 GMT

Oil tumbled to six-year lows Tuesday on global oversupply and after Saudi Arabia, kingpin of the Organisation of Petroleum Exporting Countries (OPEC) said the era of $100 crude was over.

Britain has launched a trade mission to Egypt with more than 40 companies received in Cairo.
20:10 GMT

Britain has launched a trade mission to Egypt with more than 40 companies received in Cairo, the largest such effort in over a decade by the top foreign investor in the Arab world's most populous country.

Iranian President Hassan Rouhani said Tuesday that countries behind the fall in global oil prices would regret their decision.
19:56 GMT

"If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran," he added.

Lebanon has witnessed a sharp decrease in fuel prices over the past month as Brent crude hit a five-and-a-half-year low of less than $50 a barrel.
19:49 GMT

Lebanon will likely reduce land transportation fees after a dramatic drop in the price of gasoline and diesel.

Kuwaiti MP Mohammed Al-Jabri said that the amount is expected to finance 523 projects from 2015 to 2020, Kuwait Times reported.
04:55 GMT

Kuwait’s government has set apart KD45.5 billion ($155 billion) in the country’s five year developmental plan to spend on various projects and on human resource development.

The project, estimated to be worth $15.5 billion, is scheduled to be completed by 2018.
00:50 GMT

Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.

January 12, 2015

The new restructuring plan involves full, early repayment of 2015 maturities totalling $2.92 billion.
17:01 GMT

Dubai World has reached formal agreement with a substantial majority of creditors on its proposal to amend and extend the terms of its outstanding debt totalling $14.6 billion.

The weakness across oil markets became evident last week when for the first time since 2009, the entire oil complex slipped into contango.
16:44 GMT

Analysts at Goldman Sachs lowered their three-month price forecast for Brent to $42 a barrel from $80.

Saudi Oil Minister Ali al-Naimi has said he convinced his fellow OPEC ministers that it is not in the group’s interest to cut oil output however far prices may fall.
15:50 GMT

A diplomatic push by Venezuela and Iran for an OPEC oil output cut has failed to soften the refusal of the group’s Gulf members to do so for now.