Main headlines

April 16, 2014

The next two years will see a surge in car sales with a 75 percent hike (File/AFP)
10:39 GMT

A new study by consumer group Nielson says that car sales in the Middle East will go up in the next two years.

The Iranian official also pointed to nuclear negotiations between Tehran and the major powers and said that the talks will not threaten the interests of any countr
03:55 GMT

The expansion of relations with the Islamic Republic, which enjoys high status in the region, is one of the UAE’s priorities, said Sheikh Mohammad.

On average the emirate recorded 7 percent quarter-on-quarter growth for apartment rentals, and a strong year-on-year figure of 38 percent
03:55 GMT

“Budget-conscious Dubai residents are now relocating to Sharjah in a flight to affordability,” said John Stevens, managing director, Asteco.

Renewed exports will restore much-needed revenue stream for Libya's weak central government following the 2011 overthrow of Moamer Kadhafi.
03:04 GMT

Libya prepared to resume oil exports Tuesday following a break of more than eight months, after autonomy-seeking rebels agreed to lift their blockade of ports in the country's east.

April 15, 2014

High demand: Halal food imports alone are set to increase to $53.1 billion by 2020 (File/AFP)
13:00 GMT

Food, lifestyle and products manufactured under Islamic law are expected to be worth $2.48 trillion in the next four years due to increasing demand and a growing Muslim population.

One hundred charging stations will be installed initially across Dubai in 2014 (File/AFP)
11:28 GMT

Charging stations for electric cars will soon pop up all over Dubai to enhance grid efficiency.

Big move: Oman government and BP in a joint collaboration (FIle/AFP)
11:14 GMT

Oman's government and BP signed a contract to develop the Khazzan gas field of Block 61 and will be completed by 2017.

The Samsung Galaxy Note PRO will be available for $923 across retail stores (File/AFP)
10:39 GMT

The Samsung Galaxy Note has debuted in Bahrain with a whole new selection of functions.

Saudi's Ministry of Health said the new hospitals will increase patient beds to 68,000 (File/AFP)
10:27 GMT

A top government official has announced the Kingdom's plans to build 63 new hospitals across the country, boosting service and quality medical care.

Oil prices received an additional boost following delays in resuming oil exports from Libya.
03:55 GMT

Crude oil futures rose to the highest level in five weeks on Monday as heightened tensions over unrest in eastern Ukraine fuelled concerns over potential supply disruptions.

Per-capita foreign debt rose significantly from $1,963 in 2002, when the ruling Justice and Development Party (AK Party) came to power, to $5,105 last year
03:55 GMT

Turkey's foreign debt increased $49.9 billion in 2013, breaking national records as the highest single-year increase in foreign debt in the history of the Turkish Republic.

In September 2013, the World Bank removed Iran from its list of deadbeat borrowers, saying the Islamic Republic had paid outstanding loan amounts.
03:55 GMT

The Bank has not lent any new money to Iran since 2005.

April 14, 2014

Egyptian construction tycoon Nassef Sawiris, the youngest among the Sawiris siblings, was the first Egyptian and the fourth on the list with a total worth of $6.7bn.
19:04 GMT

The first spot went to the Kingdom of Saudi Arabia, which had 39 names on the list, while third went to the United Arab Emirates, which had 14.

Kuwait's refining capacity will reach over 1.4 million bpd from the current level of 930,000 bpd, when the projects are completed.
18:45 GMT

The contracts mark the first mega project in the OPEC member's vital oil sector for 25 years.

Ben Gurion Airport expects 1.2 million passengers over the holiday, up 25% from 2013.
17:46 GMT

Despite tense relations, Turkey is the top destination for Israelis this Passover, with 6,300 people planning to spend the holiday there