Main headlines

July 7, 2014

Dubai is planning to build a temperature-controlled city featuring the world’s largest mall and an indoor park, as well as hotels, health resorts and theaters, the developer said.
02:24 GMT

Already home to one of the globe’s biggest indoor shopping complexes, Dubai Mall, the glitzy emirate known for its love of grandiose projects said it is now planning to build the “Mall of the World”.

The tax on other alcoholic beverages, such as wine and spirits manufactured locally or imported from abroad, has been increased by 150%.
02:06 GMT

The resolution replaces old amendments to the Sales Tax Act, which were not implemented and were postponed after facing broad popular opposition.

Disruptions linked to engineering or geopolitics have plagued global oil producers in recent years.
02:01 GMT

The US has overtaken Russia and Saudi Arabia to become the largest producer of crude and natural gas liquids (NGLs) in the past six months.

“But what has been significant for us has been the enthusiasm shown by visitors from the Middle East region despite not having a team competing."
01:48 GMT

Spending by GCC visitors has been quite robust since the start of the mega-football tournament.

July 6, 2014

French carmakers Peugeot and Renault look to be among the clearest beneficiaries of the interim deal that lifts some sanctions on Iran.
10:45 GMT

Iran itself counts car manufacturing as its second-biggest industry after oil, accounting for 10 percent of its gross domestic product.

Many citizens have objected to the price increase, which was approved by the government yesterday.
04:55 GMT

Anger is mounting against recent petroleum price increases after government reductions in subsidies for the sector came into effect on Saturday.

E-government is “entering a new episode” with all 193 UN member countries using national websites for the first time.
04:55 GMT

In the 2012 report, Jordan ranked 98th out of 190 countries.

“EDL will limit the network’s productive capabilities to a fixed amount of 1,550 Megawatts from July 1 to Sept. 10," the statement said. “We call on citizens to understand need to achieve balance between the need for electricity production and the sensitive situation of the public budget,” the EDL said.
03:55 GMT

Lebanon’s state-owned electricity company announced Friday that it would limit its production this summer, providing only 13 hours of electricity per day.

July 4, 2014

The spending figure of 23.21 billion dinars is 10.5 percent higher than estimates in the past fiscal year of 21 billion dinars.
15:28 GMT

he OPEC member has projected a deficit in each of the past 14 fiscal years but ended each year in the black, accumulating more than $300 billion in budget surpluses.

The project has envisaged that about 250 megawatts (MW) of electricity will be generated per day from burning 1,500 tons of solid waste.
13:56 GMT

The project will create 650 direct jobs and 2,000 indirect jobs, and will be implemented in four phases over the course of 24 to 36 months.

Etihad joins Emirates, which sponsors Old Trafford cricket ground and Durham County Cricket Club, in bolstering its English brand profile through cricket.
02:21 GMT

“Cricket enables Etihad Airways to create strong synergies between the key cricket playing nations and our major flight networks across the Indian subcontinent, Australia and the UK."

Political unrest in Egypt is not affecting work on the mall, confirms George Kostas, CEO of UAE-based retailer Majid Al Futtaim Properties.
02:14 GMT

Mall of Egypt, the 160,000-square metre mega-mall being developed by Majid Al Futtaim (MAF) Properties in Cairo, is proceeding on track despite unrest in the country, a senior official confirmed.

Taking back the two major eastern oil terminals could make around 500,000 more barrels per day (bpd) of crude available for export
01:59 GMT

Thinni said the ports had been reclaimed after an agreement with Ibrahim Jathran, whose fighters had seized the terminals almost a year ago to demand more regional autonomy.

July 3, 2014

Regarding President Abdel Fattah Al-Sisi’s plan to provide the market with citizen’s needs for oil and sugar produced by the army, she said this plan is “illogical in economic terms and impossible to implement.
14:32 GMT

The government is unlikely to succeed in controlling anticipated price jumps in markets, goods, and services vulnerable to such abnormalities in the wake of petroleum subsidy cuts in the new budget.

“It [the company] was also acquitted of any violation of Egypt’s tax laws, and thus did not take this decision into consideration,” the company added.
03:00 GMT

AhramOnline reported Tuesday that the construction tycoon has been sentenced in absentia to three years imprisonment on charges of tax evasion.