Main headlines

January 17, 2015

The İstanbul 4th Administrative Court, on Dec. 13, 2013, ordered the destruction of a number of floors of 16:9, then still under construction.
04:55 GMT

Meanwhile, an İstanbul court ruled in November of last year to halt the construction of a number of buildings in the coastal area of İstanbul's Ataköy neighborhood

January 15, 2015

Moreover, it is costing employers money because they have to cover the expenses of unnecessary health checkups.
04:55 GMT

Forty-two percent of health institutes issue sick notes for employees who are not really ill.

Prices have slumped almost 60 percent since June. Brent crude, a benchmark for international oils, was down another 82 cents to $47 a barrel in London on Wednesday.
04:55 GMT

Shell, Europe's largest oil producer, and Qatar Petroleum say they are scrapping a planned petrochemicals project in the Gulf nation amid falling energy prices.

Nasdaq Dubai said on Wednesday flydubai listed its $500 million (Dh1.8 billion) sukuk on its exchange.
04:55 GMT

This is the 18th Sukuk to have listed on Nasdaq Dubai since the beginning of 2014, supporting Dubai’s rapid expansion as the global capital of the Islamic Economy.

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.