Main headlines

May 21, 2014

Subsidies also rose more than fourfold, from $4.1 billion to $18 billion during the same period, an annual growth rate of 23 percent, Hamada said.
03:55 GMT

Kuwait has boasted a budget surplus in each of the past 14 fiscal years, helping to increase its sovereign wealth fund to over $500 billion

“The peaceful nuclear energy plays an important role in the future of our nation; these stations will provide us the electricity we need to meet our requirements.”
02:32 GMT

The new simulators are among the world’s most advanced nuclear training devices and the first of their kind in the Middle East.

May 20, 2014

The draft law says a defaulter would no longer risk a jail term if he or she has a child younger than 15 years, his or her spouse is dead — or jailed — for any reason.
22:17 GMT

At present, debtors in the UAE are imprisoned for failing to pay their debts, and creditors, mainly banks, are not sympathetic to the debtors once they are in prison.

Saudi Arabia is currently implementing Metro projects in Jeddah and Riyadh.
21:17 GMT

Saudi Arabia's Cabinet has decided to implement integrated public transport systems, including Metros and buses, in Dammam and Qatif cities, a report said.

The plan, approved by King Abdullah, includes building of 1,500 nursery schools, training of about 25,000 teachers, and establishing educational centres and other related projects.
15:04 GMT

Saudi Arabia will spend an additional SR80 billion ($21.3 billion) to overhaul the kingdom’s education system under a five-year plan, a report said.

The DFM has now declined for four straight sessions, its biggest losing streak in that surge.
08:48 GMT

Dubai’s benchmark index, the world’s best-performing gauge in 2013, plunged the most in more than eight months on Monday.

Egyptians performing Umrah is the principal activity for tourist companies in Egypt over the past three years given low incoming tourist traffic.
08:36 GMT

Cancellations of pilgrimages from Egypt to Saudi Arabia due to the coronavirus, also known as the Middle East Respiratory Syndrome (MERS), have exceeded 25%.

Israel Chemicals, controlled by Israel Corp. recently bought a 30% stake in Canada's Allana Potash, which is preparing to mine potash deposit in the Dalol region in the Afar Regional State, in northeast Ethiopia.
03:55 GMT

Idan Ofer told allAfrica: We want to turn Ethiopia into Africa's potash hub.

It may be compact, but the HTC One mini 2 packs HTC BoomSound technology to deliver powerful, crisp and clear audio that has never been more brilliant
03:55 GMT

HTC, a global leader in innovation and design, unveiled the HTC One mini 2, the latest addition to its renowned HTC One family.

May 19, 2014

He continued that expansion of this ICT would increase the public awareness and would cause a demand change, requiring broadband everywhere in the country.
22:42 GMT

“Iran has unique qualities to be the communication hub the Middle East and on the World Communication Day some projects will be unveiled to increase the international transfer between Iran and Europe.”

“We have been working with Ericsson for a number of years and we consider them one of our trusted industry partners,” said Saleh Al Abdooli, Chief Executive Officer, Etisalat UAE.
22:17 GMT

The deal will enable Ericsson to introduce new technologies and business solutions to Etisalat UAE across a number of different areas including Mobile Broadband.

It is another frustration for the carrier, which has already lost $650 million per year through the airport’s delayed opening.
17:36 GMT

Qatar Airways’ first and business class lounges will not be ready when the airline switches to Hamad International Airport on May 27.

The bureau’s establishment has been eagerly awaited by risk-averse lenders, who have attached high expectations to its potential to curb bad credit.
17:17 GMT

A senior Abu Dhabi-based banker said if the bureau had existed pre-2008, much of the crash’s pain may have been avoided

Egypt consumes 15m tons of wheat per year, according to official figures from the supply ministry.
03:55 GMT

The minister noted that government’s new smartcard bread subsidy system, which offers a maximum of 150 loaves for each citizen per month, is set to be implemented in Cairo “within several days”.

Mohammed Al-Amri, who served as undersecretary of the Ministry of Transport and Communication, was jailed for three years, fined 1.2 million rials and barred from public office for 30 years.
03:55 GMT

A former Omani commerce minister was jailed for three years for corruption on Sunday, the most senior government figure to be convicted in a campaign against graft in the sultanate.