A number of European airlines and governments introduced restrictions on flights to Sharm El-Sheikh over security concerns after the Russian airliner disaster. (File photo)
August 25, 2016 - 13:00 GMT
Turkish Airlines is set to operate four flights per week to and from the Egyptian resort after nearly ten months of suspended services.
The multi-billion GCC Railway Network - a huge railway system of 2,117 km designed to connect Kuwait, Bahrain, Saudi Arabia, Qatar, UAE and Oman - was earlier slated for completion in 2018. (
August 25, 2016 - 12:07 GMT
While cheap oil has forced some GCC countries to put rail construction on the back burner, Oman's rail project to link Salalah, Sohar and Duqm is going forward.
Tekfen is already engaged in a diverse range of construction activities including power generation, airports, petroleum, roadways, infrastructure projects, and building complexes. (
August 25, 2016 - 11:00 GMT
The Turkish construction company plans to build the ten lane, 34km-long Al Khor Expressway within 36 months.
Sky Prime is a subsidiary of Alpha Star Aviation. (Sky Prime Aviation)
August 25, 2016 - 10:30 GMT
The VIP charter airline will operate their fleet of seven aircraft out of Riyadh starting at the end of 2016.
The acquisition follows the opening of a New York office by QIA in September last year.  (PIxabay)
August 25, 2016 - 07:41 GMT
QIA has made a $622M investment, a roughly 9.9 percent stake in Empire State Realty Trust as part of its strategy to expand investment in the US.
The ruling failed to hold the Lebanese Canadian Bank SAL responsible for financing the Lebanon-based Islamic group through its New York account with American Express Bank. (Yalibnan)
August 25, 2016 - 06:30 GMT
A NY Court of Appeals unanimously rejected compensation claims by plaintiffs related to victims of 2006 Hezbollah rocket attacks, citing a similar case against Arab Bank.
Egypt is keen to boost tourism from the Ukraine, which is among the biggest sources of visitors to Egypt's resorts.  (File photo)
August 25, 2016 - 05:31 GMT
The concert by Ukrainian singer Svetlana Loboda is part of a wider tourism strategy of inviting famous performers to give concerts in Egypt, particularly in its key tourist destinations.
While Qatar will host the 2022 World Cup, Dubai aims to attract 20 million visitors per year by the time it hosts Expo 2020. (Twitter)
August 24, 2016 - 14:00 GMT
Alpen Capital forecasts a growth of over 10 percent annually until 2020 in the UAE and Qatar, driven by big events and tourism development.
The Mark V is a medium-range transport and patrol boat used by U.S. Special Operations Forces for insertion and extraction of SEAL combat swimmers as well as coastal patrol. (Wikipedia)
August 24, 2016 - 13:00 GMT
The US Department of State approved the proposed $124 million sale of Mark V fast patrol boats, weapons, ammunition and training to Qatar.
In a trend reflected throughout the Gulf, Saudi Arabia has also turned to international markets to borrow money, raising a $10 billion international loan last month.  (Shutterstock)
August 24, 2016 - 12:00 GMT
Saudi Arabia continues its fundraising efforts with another SR20 billion domestic bond offer.
Kuwait  is expected to require several new power stations between 2020 and 2030. (Pixabay)
August 24, 2016 - 10:34 GMT
Kuwait’s Ministry of Electricity and Water have scrapped plans to build a nuclear power plant, arguing that alternative energy sources are more cost effective.
Bahrain is implementing a royal order to provide 40,000 units for citizens with housing projects nationwide. (File photo)
August 24, 2016 - 09:30 GMT
Kuwait will finance $293M to build 1247 housing units in Bahrain while the UAE will fund housing and infrastructure projects worth over $102M.
Higher oil prices will benefit Kuwait, the UAE and Oman the most by reducing the current account deficits by an average of four to seven percent of GDP.
August 24, 2016 - 08:30 GMT
The ratings agency forecasts short-term effects of higher oil prices would led to narrower fiscal and current account deficits than it previously expected, GCC sovereigns' credit profiles would remain under stress.
Nepal’s government believes an outside investor-led expansion would give the airline a greater share of passenger traffic, of which over 90 per cent of the market is at present controlled by foreign airlines. (Wikimedia Commons)
August 24, 2016 - 07:26 GMT
The state-owned carrier is in the midst of a turnaround and could sell as much as 51 percent of the airline to Nepalese or foreign investors and retain minority ownership.
The Kuwaiti Fund loan to finance the project will be repaid in instalments over 20 years, with a five-year grace period. (Shutterstock)
August 24, 2016 - 06:00 GMT
The long-awaited project will help boost the two countries’ total power-generation capacity by linking the power stations in the city of Badr in Egypt, and the two Saudi cities of Medina and Tabuk.
Sudan has  no restrictions on gold exportation, meaning that investing companies can export all the gold they produce. (Shutterstock)
August 24, 2016 - 05:21 GMT
The Sudanese government is pulling out all the stops to facilitate procedures for gold mining investors from Qatar, UAE and Saudi Arabia.