Main headlines

February 3, 2014

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.

January 31, 2014

During Erdogan’s stay, Iran and Turkey signed a number of agreements, including a preferential trade agreement, which can dramatically increase the trade ties between the two countries.
12:26 GMT

The Leader made the remarks during a meeting with Turkish Prime Minister Recep Tayyip Erdogan in Tehran.

January 30, 2014

Iraq is poised to triple its crude oil output from three million barrels per day to nine million by 2020.
20:03 GMT

The combined oil reserves of Iraq and Iran are greater than that of Saudi Arabia - the world’s second largest producer of crude after Russia.

The ban on investing in the firms revived a three-year prohibition on them that the Government Pension Fund of Norway had dropped in August last year.
19:43 GMT

Norway’s huge sovereign wealth fund blacklisted two Israeli companies involved in construction of colonies in occupied East Jerusalem.

Arabian Oud opened its first showroom in Europe in 2010 (Courtesy of Trade Arabia)
12:01 GMT

Arabian Oud company is spreading Middle Eastern sweet scents to international audiences with its latest bid to strengthen its UK presence.

Egypt's Central Bank will receive $4 billion in total from KSA by September (Courtesy of Al Arabiya)
10:50 GMT

Saudi Arabia gave Egypt's central bank $2 billion in aid, and plans to give Cairo $2 billion more by September this year.