Main headlines

February 3, 2014

The Palm Jumeirah continued to be the most expensive area to rent a villa, the report found
16:47 GMT

The report attributed the spike in rents to continued unrest in the wider Arab region, Dubai’s successful Expo bid and an expanding economy.

Arabtec hopes that its hiring campaign can help mitigate growing youth unemployment in the region (File Archive)
11:08 GMT

One of the region's largest construction firms, Arabtec, is planning to recruit 10,000 youth from across the Middle East and North African region as the firm expands its operations.

Following November's nuclear deal, the EU Council suspended part of its sanctions against Iran (File Archive/AFP)
11:00 GMT

EU nations are preparing (and competing!) for Tehran investments following the easing of sanctions against the country.

Construction work of the new Muscat and Salalah airports has been divided into 11 contracts
09:03 GMT

Over 70 per cent of the construction work at the new Muscat International Airport has been completed

Italy will help carve out a free trade agreement between the GCC and EU
08:17 GMT

Italian prime minister said he had “very successful’’ talks with the UAE leadership that covered variety of issues including regional and international situation, including Iran, Egypt and Syria.

Turkey Exporters Assembly (TİM) head Mehmet Büyükekşi told reportes on Saturday that this figure is a record for the history of Turkish republic.
03:55 GMT

This is good news for a nation that is struggling to reduce ballooning current account deficit.

February 2, 2014

The trades “lost substantially all of their value” during the crisis and expired worthless during in 2011, the fund alleges.
18:39 GMT

Managers of the $60 billion fund were apparently confused about what they were investing in due to their “extremely limited in-house financial expertise,” and were exploited by “Goldman’s considerable financial experience,” it added.

The Egyptian economy has shrunk in the wake of the January 25 revolution due to the lack of security and political stability, said Al-Humaidhi.
18:08 GMT

Al-Humaidhi expressed optimism about the Egyptian economy's recovery, and stressed Kuwait's availability to help.

$4.2 billion of Iranian frozen assets would be released in eight stages and Tehran
12:55 GMT

Following the implementation of a nuclear deal between the Islamic Republic and the six world powers, Tehran has received the first installment of its $4.2-billion funds previously blocked overseas.

OPEC reported its lowest output in over two years in December 2013 (File Archive)
12:00 GMT

OPEC's oil output has risen since its December low due to a partial recovery in Libya's oil supply.

As the elderly population grows in the Gulf, can the region's healthcare sector meet the growing demand? (Shutterstock)
11:00 GMT

As Gulf populations age, the region is becoming more concerned with the lack of skill development within its healthcare sector.

Oman has the main ingredients to be not only an international player, but also a hub for trade and transit
08:59 GMT

Oman’s efforts aimed at building trade infrastructure and diversifying its economy will help the country become a major player in global trade.

While Abu Dhabi is known for attracting business tourism, it is increasingly becoming a destination for leisure tourism as well (File Archive)
08:44 GMT

More and more tourists are flocking to Abu Dhabi for leisure rather than business tourism, according to Emirates News Agency.

Of the 2.228 million bpd exported in January, 2.036 came from Basra and 192,000 from Kirkuk,
04:55 GMT

Crude exports from Iraq declined in January to an average of 2.228 million barrels per day (bpd) but should rise next month, Oil Minister Abdul Kareem Luaibi said.

According to the McKinsey Global Private Banking Survey 2013, the total high net worth wealth in the Middle East is predicted to increase by $3.3 trillion by 2014.
04:11 GMT

“At this point, the UAE’s shipbuilding growth appears really unstoppable.