Main headlines

June 22, 2014

The funds are the first tranche of some $1.5 billion in mostly military aid which has been frozen since October amid US administration demands that the Egyptian government introduce democratic reforms.
21:18 GMT

"The Apaches will come, and they'll come very very soon," Kerry said in response to a reporter's question on whether the halt of deliveries expressed US antagonism to Egyptian authorities.

Forbes Middle East revealed that the criteria considered to rate the top companies included: the companies’ total revenue, net profits, total assets, and market capitalization.
19:06 GMT

On the Top 500 companies list, however, Egypt placed fourth in terms of number of companies contributed to the list.

“The UAE and Saudi Arabia have emerged with two of the most robust pipelines in the Middle East, as these two countries combined make up 70.0 percent of the rooms in the region’s pipeline,” Winkle said.
18:05 GMT

Average daily rate (ADR) for the month stood at $182.76, while revenue per available room (RevPAR — a benchmark for performance) touched $128.38.

Arabtec shares fell by 9.86 per cent while Emaar fell by 3.44 per cent and Deyaar by 2.52 per cent.
17:47 GMT

Real estate shares dragged the Dubai index below 4,500 points, led by Arabtec.

Citizens travelling abroad were also advised to read the travel advice page at the ministry’s website and to enrol in the Tawjdi (my whereabouts) service program
17:35 GMT

Hamad Mohammad Al Junaibi, UAE’s Charge D’Affaires in Lebanon, urged Emiratis who are in Lebanon at present to leave the country immediately and to coordinate with the UAE embassy in Beirut to facilitate their departure.

The banking sector is in good health, and the performance of the challenged Islamic retail banks has improved marginally.
14:23 GMT

The IMF says Bahrain’s fiscal deficit has continued on a rising trend in 2013, although by less than budgeted.

For years, the administration of former president Mahmoud Ahmadinejad put off all but the most adventurous travelers.
04:55 GMT

Even the Iranian law requiring women to cover up and the ban on alcohol have not discouraged British tourists.

June 21, 2014

The SAMA measure comes in line with the Ministry of Labor’s efforts to put a limit to the control of expatriates over some commercial activities, more commonly known as tasattur.
00:12 GMT

The SAMA measure comes in line with the Ministry of Labor’s efforts to put a limit to the control of expatriates over some commercial activities, more commonly known as tasattur.

June 20, 2014

Israeli refineries have taken Kurdish crude oil before but in small volumes, which were shipped to Turkish ports by truck.
14:01 GMT

"We do not comment on the origin of crude oil being imported by the private refineries in Israel," an Israeli energy ministry spokeswoman said.

June 19, 2014

Investment in research and development (R&D) grew 29 percent in 2013 to reach TL 5.8 billion, though Turkey has a long way to go to reach its ambitious R&D targets for 2023.
23:22 GMT

The lion's share of public R&D funding -- 38 percent -- is allocated to universities, followed by the defense industry at 24.5 percent and industrial production and technology at 16 percent.

Rolls-Royce shares jumped 7 percent on Thursday after the British aero-engine maker decided to buy back shares worth 1 billion pounds ($1.69 billion) instead of making any major acquisitions.
23:06 GMT

The company said it was on track to return to earnings growth next year.

The GCC spend was part of a total spending of $27 million from global visitors to Brazil during the four-day period.
22:59 GMT

Payments firm Visa revealed that GCC travellers to Brazil spent over $500,000 on their Visa accounts during the first four days of the FIFA World Cup from June 12- 15.

Jordanians and tourists will be able to take a bus tour of old Amman as part of an initiative launched by the Jordan Express Tourist Transportation Company (JETT).
22:46 GMT

“Amman is full of beautiful sites, and this trip will provide people with a great opportunity to get a closer look at them,” he told The Jordan Times over the phone.

The data puts Israel in good company, with France, Belgium, and Australia, and in far better shape than Eastern European countries where the non-observable economy (NOE) is 10-15% of GDP.
16:42 GMT

The OECD estimates Israel's black economy at NIS 70 billion in 2012.

The Kingdom, with a population of some 29 million people, reported annual car sales hovering at 700,000 units last year.
13:00 GMT

POSCO, one of the largest steelmakers in the world, signed a memorandum of understanding (MOU) to explore new business opportunities with Saudi Arabia’s sovereign fund, the company said Wednesday.