Main headlines

November 27, 2013

Izmir is one of the strong contenders for the bid, but faces stiff competition from Dubai, Sao Paolo and Ekaterinburg.
10:53 GMT

Turkey has received backing for Izmir’s Expo 2020 bid from 60 countries, and is confident of winning the bid, the country’s transport minister Binali Yıldırım was quoted as saying by Turkish media.

Ooredoo will use the proceeds from the sukuk's sale for the firm's refinancing (Courtesy of Arabian Business)
09:46 GMT

Qatar's telecommunications firm, Ooredoo launched its first sukuk Tuesday. The Islamic bond is worth $1.25 billion and will have a profit rate of 3.039 percent.

Bahrain's capital has attracted over 10.8 million visitors in 2013 thus far (Courtesy of Arabia 2day)
09:40 GMT

GCC and ASEAN voted Tuesday to name Bahrain's Manama the 2014 capital of tourism.

EMS' new smartphones are based on the Android platform and will be available in the UAE starting December 10 (File Archive/Shutterstock)
09:30 GMT

UAE-based EMS will release five new smartphones in the Emirates on December 10th.

Nuclear may be the way of Saudi's energy future as industry leaders project a growth of job opportunities in this controversial sector (File Archive)
09:16 GMT

Leaders of Saudi industrial companies are meeting with French counterparts this week to discuss nuclear supply chain development and collaboration.

Currently, one litre of unleaded 90-octane gasoline is sold at JD0.810, while a litre of 95-octane is priced at JD0.98.
03:55 GMT

The nuclear deal reached between Iran and world powers in Geneva on Sunday could also be a boon for the Jordanian fuel market in the coming weeks, an oil expert predicted Monday.

Global property adviser CBRE earlier this year ranked Dubai as the second most important destination for retailers in the world, with London occupying the top spot.
03:55 GMT

With its shopping scene dominated by mega malls and shopping complexes, Dubai easily takes the cake as the region’s leading retail destination.

November 26, 2013

Du had asked its individual and business mobile users interested in MNP to SMS the word ‘CHANGE’ to 3553 to receive information about MNP. It was intended that consumers who did this would receive an SMS from du containing information relating to MNP.
11:11 GMT

Etisalat has been blocking an important SMS to subscribers from du.

A company source said Kuwait Airways had been negotiating to lease the Jet Airways aircraft for eight years in a deal worth 134 million dinars ($473.7 million) but decided instead to buy the planes for 77 million dinars.
10:46 GMT

Sami al-Nisf was suspended after plans to buy used aircraft despite a government request to stop the deal.

Since the global financial meltdown, European governments and investors have been more keen to develop Islamic finance within the Eurozone as a way to attract wealthy investors from the Gulf and southeast Asia (Shutterstock)
10:15 GMT

Private investors from the Gulf, including a royal family from UAE, told reporters Tuesday that plans are underway to establish the first full Islamic bank in the European Union.

Topaz will deploy boats to Azerbaijan's offshore fields during the last quarter of 2013 and the first quarter of 2014 (Courtesy of Shipbuilding Times)
09:46 GMT

Dubai-headquartered Topaz Energy and Marine has won 2 contracts with BP to begin operations in Azerbaijan's largest oil and gas fields.

KSA will use solar power energy to operate its proposed seawater desalination plant (Shutterstock)
09:29 GMT

Saudi Arabia is planning to build the world's largest solar-powered seawater desalination plant in Ras Al Khaimah

KSA hopes the new port in Al-Lith will ease pressure on the overcrowded Jeddah port (Courtesy of Arabian Business)
08:39 GMT

Saudi Arabia announced Tuesday that it will build a massive, 43 million square port on its west coast to "lure investment" and "ease pressure on Jeddah."

More than 10.8 million visitors have arrived in Bahrain thus far this year (Courtesy of Samba Samba)
08:32 GMT

In 2013 thus far, 10.8 million visitors have arrived in Bahrain, but confusing passport and visa procedures may discourage additional visitors in the future.

Turkish consumers spend $25 billion on Islamic fashion items annually, followed by Iran ($21 billion), Indonesia ($17 billion), Egypt ($16 billion) and Saudi Arabia ($15 billion) (Shutterstock)
08:02 GMT

Is Islamic fashion the new retail hub? Consumer spending in this clothing sector is projected to reach $322 billion by 2018.