Main headlines

January 7, 2014

Turkey's central bank, statutorily independent, is trying to prop up the lira by selling dollars from its reserves.
17:44 GMT

Deputy Prime Minister Ali Babacan sought to play down the impact of the crisis on the once fast-growing emerging economy as only "temporary", although analysts warned that investors had taken fright.

Brown spearheaded a letter signed by more than one-third of Democratic senators urging President Obama to nominate Yellen to lead the Federal Reserve System.
17:23 GMT

Janet Yellen has been the vice chair of the Fed’s Board of Governors since 2010 and will take over from Ben Bernanke when his second four-year term as Chairman of the Federal Reserve ends on 31 January 2014.

Zain, which posted a net profit of $186 million and revenues of $1.1 billion in the third quarter of 2013, will focus on adding new services in the near future.
13:24 GMT

Gegenheimer, who took on the role of group CEO in December 2012, said that 2013 was a year of transformation and resilience for the company.

Saudi Arabia has already deported 60,000 migrant workers as part of its Saudization movement (Courtesy of Zawya)
10:48 GMT

Saudi Arabia announced a new welfare program for its citizens this week for "deserving" citizen applicants able to receive unemployment insurance and housing loans.

Six destinations were introduced to Etihad Airways’ network in 2013. (Image credit: Carlton Leisure)
08:17 GMT

Passenger numbers surge 16% as nearly 12 million people flew with the airline.

Out of 46 applications, 33 consortia were qualified according to the project's specifications, while 14 were picked as among the best applicants.
03:55 GMT

The winner of the bidding process will be announced by mid-2014

 In a message to members of the Organization of Petroleum Exporting Countries (OPEC), Zanganeh also said that unconventional oil production from shale reserves by non-OPEC countries will not be a threat to OPEC.
03:55 GMT

“We believe it is our right to try to increase our exports,” Zanganeh said.

January 6, 2014

Land prices in Amman have gone up by nearly 40 per cent between 2012 and 2013, he pointed out, indicating that land values in other cities also increased by almost 15 - 20 per cent.
17:23 GMT

“2013 was a very good year for the housing sector,” Awamleh said, adding that prices of residential properties remained stable during the year.

In a bid to develop local talent, Qatar has also introduced various hospitality programmes at Stenden University Qatar.
17:07 GMT

According to QTA, there are currently 81 hotels in Qatar with 110 under construction. Upon completion, they are expected to add around 18,931 rooms to the hospitality sector, which is expected to boost job creation.

The carrier is awaiting the delivery of a further 97 superjumbos after it placed an order for 50 at the Dubai Airshow late last year.
10:39 GMT

Emirates took a bold and risky move when ordering the world’s largest ever commercial airplane, the airline’s president Tim Clark has said.

Jazeera airways led Middle East airlines in on-time performance in late 2013 (Courtesy of Emirates 24/7)
10:32 GMT

Jazeera Airways ranked first in the Middle East in on-time performance for its flights in late 2013.

Saudi Arabia's printing industry is the oldest and largest in the Gulf (Courtesy of Global Arab Network)
09:56 GMT

Saudi Arabia is home to the oldest and largest printing market in the Gulf...and it is still growing! Recent reports show that KSA's printing is growing 8 percent per annum and already has a net worth of $800 million.

Egypt's stock market has continued to rise since Fitch upgraded the country's economic outlook Friday from negative to stable (Courtesy of Al Jazeera)
09:08 GMT

Egypt stocks are continuing to rise since Fitch ratings upgraded the country's economic outlook.

The new investment tools add greater in-depth to the country’s financial markets.(Image credit: Shutterstock)
08:16 GMT

The UAE will allow issuance of warrants, a financial instrument that entitles the holder to buy the underlying stock of the issuing firm.

The pace of the US Federal Reserve’s “tapering” in the coming year is likely to impact emerging market and frontier market sentiment, but investors in the Gulf are in a cautiously optimistic mode for now.
03:55 GMT

Dubai and Abu Dhabi stock markets traded in opposite directions on Sunday due to lack of activity.