Main headlines

August 8, 2014

Ezz is the former chairman of Ezz Steel and has a 55 percent stake in EZDK, the largest steel complex in the Middle East.
20:30 GMT

Over the last three years, Ezz has received cumulative sentences of 60 years in prison, but his appeals have all been accepted and he is currently facing retrials.

Hidden, or indirect, taxes for goods including food, gasoline, cars and cellular phones in Turkey have reached record-breaking levels based on European standards,
14:20 GMT

The union's research indicated that hidden taxes on such goods in Turkey has reached 69 percent of total taxes, a figure which has nearly doubled over the last three decades.

August 7, 2014

The 2016 Olympic Games will be held in Rio de Janeiro, Brazil, while Tokyo, Japan won the rights to host the 2020 games.
14:47 GMT

Dubai is planning to submit a bid to host the Olympic Games within the next few years, a senior official has said.

Addressing a news conference at his residence in the Saudi port city of Jiddah, Hariri gave details about the grant, which he earlier announced had been provided by King Abdullah.
11:13 GMT

Former Prime Minister Saad Hariri said Wednesday that Lebanon was being subject to an unprecedented terrorist attack, adding that the $1 billion Saudi grant was meant to help the country’s security apparatuses crush terrorism.

The latest US country report on terrorism said there were increased reports in 2013 of Kuwait-based private individuals funnelling charitable donations.
11:03 GMT

The Islamic Affairs Ministry announced the same day it was suspending all types of fund-raising inside mosques, including for the “Syrian people”.

“The project is also expected to improve the macroeconomic indicators as it raises the canal’s revenues to $13 billion annually from $5 billion,” said Fathy.
“Investors expect an economic boom in most sectors when the Suez Canal industrial hub project sees the light,”
04:55 GMT

Egyptian stocks rallied on Monday as details of the Suez Canal industrial hub mega project started to unfold, analysts said

August 6, 2014


Infiniti’s strong line-up of SUVs contributed to over 67 percent of total sales volume, with QX60 and QX70 remaining Infiniti’s core models.
23:13 GMT

Infiniti announced that its sales figures have increased to 1,524 units across the Middle East in the first quarter of Financial Year 2014

The goal of labor policy is full employment of the Saudi workforce, the report stated.
12:19 GMT

“Carrying out employment strategy requires providing the necessary resources to carry out mechanisms within a specific timeframe,” the ministry said.

While the hoteliers are losing out on business, as Coca Cola and Pepsi are popular beverages, they expressed no qualms over the loss of revenue.
12:02 GMT

A longer list of boycotted products – including garment, chocolates and beauty products – are being share via social networking sites Facebook and Twitter.

Turkey's economic growth beat expectations in the first quarter of 2014 by registering a 4.3 percent year-on-year expansion in its gross domestic product (GDP),
04:55 GMT

Turkey's economy minister joined a government-led chorus suggesting that the country is being treated unfairly by international rating agencies.

August 5, 2014

 
Trade between Iran and Turkey jumped sharply in 2013 compared to the decade ending in 2012.
21:21 GMT

Annual non-oil trade between Iran and Turkey amounted to $5.286 billion in the previous Iranian calendar year.

The $150 million power plant — which will be the largest PV facility in the Middle East — is one of the main projects in Jordan’s plan to diversify its power generation portfolio.
21:01 GMT

The US company said it has also finalised a long-term operations and maintenance contract for the project, which is expected to be operational by early 2016.

Market observers said the proactively worded statement was a political ploy made just days before Turkey prepares to elect its president directly for the first time in the history of the republic.
21:01 GMT

“If a pipeline is built from Israel, it will flow not with gas but with the blood of innocent children and mothers,” said Yıldız, who was joined by Malta Energy Minister Konrad Mizzi at the press briefing.

A major objective of the law, according to Majali, is to ensure the local administrations in the governorates have more powers to develop and manage services.
20:51 GMT

The municipalities and decentralisation draft laws seek to enhance citizens’ participation in decision making, according to Prime Minister Abdullah Ensour.

Brazil is a significant exporter of Halal foods. In 2013 it shipped 1.48 billion tonnes of chicken to the Middle East.
20:29 GMT

In January Abu Dhabi Equity Partners invested in a livestock financing programme to fund the fattening of 70,000 cattle heads - the equivalent of entire UAE's annual import of beef.