Main headlines

January 27, 2014

The 270,000-barrels per day (bpd) Mina Abdullah refinery was running at about 60 percent of capacity on Sunday.
03:55 GMT

The Jan. 22 power outage shut down all three of Kuwait's refineries.

Qatar Airways said on Tuesday it was named “Best Business Class” at the 25th Annual Best in Business Travel Awards, recently held in Los Angeles.
03:55 GMT

The airline was additionally honored as the “Best Business Class in the Middle East” and named “Best Airline in the World for International Travel” for the fifth consecutive year.

January 26, 2014

Around 1,500 saplings were planted at the university on Saturday as part of the initiative.
19:04 GMT

The initiative seeks to plant 1 million saplings over the next four years to increase the country’s green cover, a statement from the university said.

Saudi economists said the Kingdom’s strong position would help attract more foreign investors.
18:56 GMT

Saudi Arabia holds 15th position among the world’s leading economies in creditworthiness, said a survey conducted by S&P Capital IQ.

Dubai Marina neighbourhood has seen a rise in deal activity from the third quarter last year, according to Clutton’s winter property update.
18:48 GMT

Dubai’s new tramway will boost buyer demand in residential areas such as Dubai Marina owing to its proximity to the network,

Utico has called for the pre-qualifications for a 40MW solar power development project, the first-of-its-kind in the country, to be built at Ras Al Khaimah (File Archive)
12:00 GMT

UAE will build its first 40MW solar power development in Ras Al Khaimah.

The Lebanese economy has suffered greatly from decreasing tourism since the start of Syria's civil war in early 2011 (Shutterstock)
10:28 GMT

Tourism in Lebanon has dropped 40 percent since 2010, according to figures released by the Tourism Ministry Friday.

The Queen Alia International Airport launched its second expansion in mid January this month (Courtesy of Business Traveler)
10:18 GMT

Jordan's new Queen Alia airport welcomed a record number of visitors in December 2013, representing an 8.4 percent growth from the year prior.

Sales contracts came the second with its amount reaching OMR647.9 million by the end November 2013
09:28 GMT

The traded value of property grew by 21.5 per cent to OMR1,945.7 million for the first eleven months ending November 2013.

The fall in the lira seemed to worry investors, who pushed the main stock index Borsa İstanbul (BIST) down 1.8 percent.
03:55 GMT

The lira's steep decline comes amidst a similar free fall in other emerging market currencies against the greenback.

Arab Bank Group, posted a 43 percent rise in 2013 net profit to $501.9 million on the back of higher revenues.
03:55 GMT

"This was in spite of the challenging environment in the region with the solid growth in operating income reflecting prudent and conservative policies the bank preserved and the strategy it pursued," Al-Masri said.

January 24, 2014

“UAE intellectuals, experts and leaders will be involved in preparing papers and research material that reflect our country’s vision on many global issues," said AlGergawi.
20:58 GMT

A strategic partnership between the Government Summit in the United Arab Emirates and the World Economic Forum (WEF) was announced on Thursday following a meeting in Davos

The Dubai Financial Market index, the best performer among 90 benchmarks tracked globally, jumped 3.57 per cent, or 131.7 points.
20:49 GMT

Dubai’s stock market, the world’s second best performing bourse in 2013, surged to a new five-year high to 3,819 points on Thursday.

That growth would be driven by overseas demand — Toyota expects volume at home to slip 5 per cent this year as consumer demand takes a hit from an April sales tax hike.
07:52 GMT

Toyota sold a record 9.98 million vehicles last year, it pointed out Thursday, outpacing rivals General Motors (GM) and Volkswagen to maintain its title of world’s biggest automaker.

January 23, 2014

Lebanese authorities say that Syrian refugees have been a huge economic burden in their country (File Archive/AFP)
11:07 GMT

U.N. aid agencies will give preference to purchasing goods and products from Lebanon in order to relieve the economic burden from the Syrian refugee crisis on the Middle East's country's economy.