Main headlines

March 4, 2014

Inflation is set to rise in all countries in the GCC except for Bahrain who is bucking the trend (File Archive/Shutterstock)
14:17 GMT

All GCC economies with the exception of Bahrain are expected to see a rise in inflation this year, according to Moody's Investor Service this week.

The Dubai Water Canal project will pass through the heart of Dubai in a course extending three kilometers
09:27 GMT

Dubai’s Road and Transport Authority (RTA) will take up a number of top projects in 2014, including the Dh2 billion ($544 million) water canal project, which will link the Business Bay in Dubai with the Arabian Gulf.

A comprehensive nuclear deal between Iran and six major world powers over Tehran’s nuclear energy program is possible by the end of July
08:44 GMT

Iranian Foreign Minister Mohammad Javad Zarif says a final settlement to the decade-old dispute over Iran's nuclear energy program would be possible within the next five months.

Bargain-hunters could be quick to return as soon as military tensions ease, he added.
03:55 GMT

Gulf stock markets slid on Monday as a heightened threat of armed conflict between Ukraine and Russia triggered widespread selling, despite the benefit of higher oil prices to Gulf energy exporters.

Among the main products to suffer a drop in exports, according to CAPMAS, were petroleum products, fresh fruits and liquefied propane.
03:55 GMT

The figure represented a 12 percent drop compared to the same month in 2012, when the deficit stood at LE26.7 billion ($3.8 billion).

March 3, 2014

In 2013, Jordan’s exports to Iraq went up by 23 per cent, amounting to JD884 million while its imports from Iraq totalled JD269 million
18:54 GMT

They discussed means to boost economic relations between the two countries and their private sectors, in particular.

The procurement process for the projects starts immediately.
18:43 GMT

QDB will provide 70% of the investment for each project with a maximum loan of QR100mn

The richest Israeli is Eyal Ofer in 191st place with a fortune of $7 billion.
17:14 GMT

There are 18 Israelis in "Forbes" 2014 Billionaires list, which was published today.

"Oil markets are reacting on the potential that the situation could worsen," said Ben le Brun.
16:36 GMT

Ukrainian Prime Minister Arseny Yatseniuk said Moscow's move to use military force was a "declaration of war" by Russia, one of the world's biggest oil producers.

Saudi Arabia deported most of its construction sector workers under its Saudization policies (File Archive)
14:00 GMT

Saudi Arabian contractors are calling on their Egyptian counterparts to overcome their worker shortages, according to reports this week.

Flydubai launched 17 new routes in 2013 alone, now servicing 66 destinations in total (File Archive)
11:00 GMT

Flydubai's 2013 net profit increased 47 per cent in comparison to its 2012 figures

Bank Muscat will be the first bank in Oman to issue sukuk (Courtesy of Global Arab Network)
09:00 GMT

Bank Muscat is planning to issue its first Islamic bond by September, representing the first sukuk issue of an Omani bank.

WhatsApp is going to continue to operate completely autonomously
07:55 GMT

Facebook's acquisition of WhatsApp has raised concerns among its users in Oman, especially after messages doing the rounds about changes in the messenger's privacy rules.

The image below shows the results of the Savillies World Cities survey.
03:55 GMT

Hong Kong is the world’s most expensive city for companies to locate employees, significantly ahead of London and New York, which have been vying for second place over the past two years.

Responding to a question about innovation, Cook said Apple preferred not to talk about new products under development so as not to tip off the competition
03:55 GMT

“We’re working on some things that are extensions of things you can see and some that you can’t see,” Cook said at the annual meeting, referring to a 32 percent increase in research and development costs last year.