Main headlines

April 23, 2014

Bank Mellat, which has been in Turkey since 1982, faced restrictions in 2012 which led to a decline in its growth due to economic sanctions imposed against Iran.
23:36 GMT

Earlier this year, Turkish Prime Minister Recep Tayyip Erdogan said that he considered Iran to be “his second home” during a visit to Tehran aimed at strengthening economic ties between the neighboring countries.

The base expansion has been hailed as one of the biggest British Navy investments on foreign soil, costing $16.6 million (File/AFP)
14:49 GMT

Construction work has started on the expansion of the UK Maritime Component Command complex in Bahrain, creating a bigger partnership between British authorities and their Bahraini counterparts.

Israel's economy minister Naftali Bennet said the Jewish state will take steps towards a free trade agreement with India and China (File/AFP)
13:49 GMT

Asian countries including the world's fastest growing superpowers, India and China will overtake America's position as the biggest exporters to Israel in 2014.

Occidental Petroleum Corporation expects its capital program to increase by $10.2 billion (Fabio Bucciarelli/AFP)
13:11 GMT

Occidental Petroleum Corporation (Oxy) will invest further in Oman to help boost production in 2014.

The move will also create over 10,000 new jobs according to the Industry and Commerce Ministry (File/AFP)
12:08 GMT

Companies from across the globe are set to invest $1.8 billion at the Bahrain International Investment Park, with 58 new projects already in the pipeline, providing over 3,500 people with jobs.

Saudi Arabia's hospitality sector is currently worth $1.3 billion in 2014 (File/AFP)
11:37 GMT

As Hotel Saudi 2014 exhibited on Tuesday in Jeddah, good news followed. The Kingdom expects the hospitality industry to grow by 2.5 percent between now and 2017.

Communication hub: Viva Bahrain and BT announce a global partnership (File/AFP)
10:54 GMT

BT and Viva Bahrain have teamed together to build a Global IP Exchange interoperability hub in the micro-state.

Projects in the pipeline include the 300-acre Titanic Quarter in Belfast, Northern Ireland, consisting of a boutique hotel, financial services centre, new retail development, film and media hub and office space, at a total development cost of Dhs6 billion.
03:55 GMT

UK Trade and Investment’s (UKTI) Regeneration Investment Office (RIO) said that Gulf investors have the opportunity to participate in projects leading to the development of 27 million square metres of new prime floor space and 220,000 homes.

Earlier this month, Egypt's cabinet approved a new investment law that includes a clause preventing third parties from challenging contracts made between the government and investors
03:55 GMT

Egypt’s government has faced 37 cases worth LE100 billion ($14.3 billion) brought by investors in both international and domestic arbitration centres in the three years since the 2011 uprising,

In order to incentivise more Jordanian companies to join the programme, Jordan Customs is introducing new mechanisms that include revised and less stringent requirements and more benefits.
03:55 GMT

“This revised form will enable Jordanian trading companies to strengthen their competitive edge in both domestic and international markets,” the statement said.

April 22, 2014

Shopping malls and retail made up over 38 per cent of total revenue at Dhs863 million.
22:44 GMT

Total sales reached Dhs5.917 billion (1.611 billion), 94 per cent higher than the Dhs3.043 billion ($828 million) reached during the same period last year.

The airport was scheduled to open in 2009 but suffered many drawbacks since then
14:19 GMT

As of May 27, all airlines will operate from Qatar's newly built and much anticipated Hamad International Airport.

The Kingdom generates over 15 million tons of solid waste each year, requiring a greater investment in recycling and waste management (File/AFP)
13:15 GMT

Saudi Arabia will host a two-day waste management summit starting on Wednesday to push for a "green era" in the Kingdom.

Spending on electronic goods went up by $1,361 per household (File/AFP)
12:52 GMT

Household spending on electronic items has jumped by over 62 percent, according to a consumer survey.

Careers UAE 2014 will also offer a range of training and education programs (File/AFP)
12:29 GMT

The three-day Careers UAE 2014 fair will secure hundreds of private and public sector jobs with over 160 companies participating in the event.