Main headlines

February 6, 2014

Tourism, one of Lebanon's biggest industries, has plummeted over the past three years (File Archive)
08:36 GMT

Lebanon's economy is continuing to plummet, particularly in the construction, retail and services sectors according to data from January this year.

Etihad will now fly to seven global regions with the addition of Africa Sub-Sahara and Indian Ocean (File Archive)
08:18 GMT

Etihad Airways is preparing to open a new sales region-Africa Sub-Sahara and Indian Ocean.

The scheme, launched this week, is open to all ADIB customers and comes at no extra charge.
03:55 GMT

Abu Dhabi Islamic Bank (ADIB) is offering a six-month break on repayment installments on personal and vehicle financing in the event of loss of employment to ease the budren on customers as they transition between jobs.

The Gulf Arab state is spending billions of dollars in areas such as transport, electricity and water generation and housing,
03:55 GMT

Qatar plans to spend as much as $205 billion on infrastructure between 2013 and 2018,

On narrow-body planes, both the Airbus A320neo and the Boeing 737 MAX are being considered, he said.
03:55 GMT

Saudi Arabia’s stock market witnessed five new listings in 2013 with a combined value of SR1.96 billion ($523 million).

February 5, 2014

The businessmen claimed that thousands of small and medium-sized enterprises (SMEs) have still not recovered from the financial downturn caused by the unrest in 2011,
18:41 GMT

A group of angry businessmen in Bahrain calling for an end to a mandatory tax on foreign workers has taken their demands to parliament.

The firm said its “business would run as usual” and directors “do not expect any financial implications on the company due to this development”.
18:08 GMT

Oman’s National Gas Co SAOG confirmed on Wednesday that its chief executive had been detained by the public prosecutor over suspected bribery.

Iran and France have the potential to notably increase their bilateral annual trade to $5 billion and more
17:50 GMT

A delegation of more than 100 French companies arrived in Tehran on Monday in the biggest demonstration of western business interest in Iran for more than a decade

The discount of US crude to Brent narrowed on Wednesday to its smallest since mid-October as traders expected the startup of a pipeline from Cushing to refineries on the US.
14:07 GMT

Other analysts saw little to push Brent much higher due to higher output in Libya and the North Sea.

Bahrain Air began voluntary liquidation in early 2013 last year, but bankruptcy is imminent, the airline says (Courtesy of Wikipedia)
11:00 GMT

Bahrain Air is on the verge of bankruptcy a year after it went into voluntary liquidation.

Taxes on cigarettes represent around 75 per cent of the value of the product
09:09 GMT

Cigarette prices went up by 100 fils per pack as of Tuesday under a government decision to raise taxes on tobacco and alcohol.

Dubai's 2020 World Expo is expected to increase UAE's sukuk issuance, adding to its historical record of being the largest issuer of the Islamic bonds in the MENA region (File Archive)
09:06 GMT

The Dubai 2020 World Expo may boost sukuk issuance in the UAE.

The entry of the Indian gas cylinders to the local market will be based on the results of the technical test conducted by the German lab
08:38 GMT

Jordan Petroleum Refinery Company (JPRC) CEO Abdel Karim Alawin on Tuesday held press conference to talk about the controversial gas cylinders imported from India.

February 4, 2014

The number of stations on the entire network will increase from the current 47—– two stations are common for both the lines — to 70 by 2020, said Al Ali.
22:21 GMT

Dubai Metro transports around 500,000 passengers daily on both the lines and this only with half its running capacity.

“So if we’re going to stop that nuclear programme and that quest for nuclear weapons, we have to either do it diplomatically or do it militarily,” he said.
21:44 GMT

US officials declared on Tuesday that Iran is “not open for business” and vowed to scrutinise companies heading to the Islamic republic since it entered a temporary nuclear agreement.