Main headlines

December 8, 2014

Rouhani admitted the budget for the fiscal year starting in March 2015 "would be under pressure" given the big fall in oil prices in recent months
12:40 GMT

"Such a drop is unprecedented," he said in a speech to parliament carried live on state television, noting that the government had been cautious in its forecasts.

 "Israel is of course exceptional, because it had no severe economic crisis, because you listened to Stanley Fischer's advice," he said
05:55 GMT

Dr. Jason Furman, chairman of US President Barack Obama's Council of Economic Advisers, estimates that Israel will overtake the US in inequality.

Located in the incubator building at Masdar City, the centre is a reconfigurable, multi-purpose facility and will not be restricted to providing only security solutions.
05:55 GMT

Earlier this year, reports indicated that Lockheed Martin also held talks with the UAE government for a military deal worth $270 million.

December 7, 2014


Saudi Arabia pumps around 9.7 million barrels per day
12:05 GMT

Standard and Poor's has lowered the outlook for Saudi Arabia to stable from positive and Oman to negative on sliding oil prices.

The countries in the Mena region are likely to become important global centres for producing iron and steel in the next five to 10 years, he added.
05:55 GMT

The UAE is amongst the highest consumers of iron and steel products (1,309 kg per person), well above the global average of 240 kg per person,

The Sheraton Hotel is one of the prominent landmarks in Qatar, which has hosted numerous Arab conferences and GCC summits.
05:55 GMT

The Qatar’s landmark hotel has been restored to its original 1982 glory as a new gigantic architectural building glorifying the past.

According to this Iranian researcher, HIFU can have many therapeutic uses, the main use of which is for treating cancer, although some HIFU devices are already being used today for cosmetic surgery.
04:55 GMT

“What we do is to place the ultrasound in environmental conditions; that will enable us to either remove or alter parts of a tissue for therapeutic purposes,” he explained.

The cash bid, pitched at 350 pence per share, compared with the previous 295-pence-per-share or £2.2-billion offer that was rejected last month.
04:55 GMT

Qatar's improved "final offer" to buy London's landmark Canary Wharf office quarter has been rejected, its owner said Friday, seemingly putting an end to a deal.

Oversupply could rise next year when Iraq starts to export more oil because of an agreement between Baghdad and the Kurdish regional government.
04:55 GMT

Global oil prices slid further on Friday, with Brent on track for the first weekly close below $70 a barrel since 2010.

December 4, 2014

Brent crude oil steadied around $70 a barrel on Thursday as investors searched for a stable price range after a near 40 per cent fall since June.
23:44 GMT

Some analysts expect prices to fall further after bearish comments from key OPEC members.

Lufthansa’s loss will be to Gulf carriers’ gain with Emirates, Qatar Airways and Etihad, in tandem with partner Air Berlin, likely to scoop up traffic.
22:12 GMT

Lufthansa has cancelled 51 long-haul flights today in the latest 24-hour strike from pilots union Vereinigung Cockpit.

“The Saudis have conditioned any aid on the implementation of the (deal). The Houthis have to leave before they pay,” a senior Yemeni government official told Reuters.
16:19 GMT

“The Saudis’ approach is that ‘we’ll step back and let Yemen see the consequences of their choice of the Houthis and eventually they’ll come to their senses’.

Egypt moved up 20 ranks in Transparency International’s Corruption Perceptions Index (CPI)
15:44 GMT

Egypt ranked 94th in this year’s report, which was released on 3 December, compared to the 114th place last year.

The government usually ends up spending substantially more than its budget plan, overspending by an annual average of 25 per cent in 2004-2013.
05:55 GMT

As recently as last month, the International Monetary Fund predicted Saudi Arabia would enjoy a fiscal surplus of 1.6 per cent of gross domestic product in 2015. Now, private economists are talking of a deficit of over 1 per cent..

Iran was formerly Peugeot's second largest market by volume and one in four cars in the country carries the Lion brand.
04:55 GMT

France's PSA Peugeot-Citroen is in "intense" talks about resuming production in Iran, halted since March 2012, a top representative of the automaker said in Tehran on Monday.