Main headlines

December 12, 2012

Taiwan's HTC is trying to steal more of the lucrative smartphone market
07:52 GMT

Taiwan's HTC has unveiled a new smartphone boasting a higher resolution display than Apple's iPhone 5, as it faces stiff competition from Apple and Samsung.

HSBC has been fined over laundering Iranian and Syrian money in the US
07:37 GMT

HSBC has agreed to pay US authorities a record $1.9bn settlement over accusations that it allowed money laundering of Syrian and Iranian money.

Sukuk Islamic bonds must reach the market quicker, experts have warned
07:21 GMT

Sukuk, a type of Islamic bond, needs to be issued on the markets quicker so that non-Islamic financial institutions can enter the booming industry

Could Jaguar be heading for the Saudi desert?
06:50 GMT

Reports suggest that Jaguar and Land Rover cars could be built in Saudi Arabia, as demand for luxury cars in the Middle East soars with demand for the Indian-owned brand increasing 9 per cent this year.

Middle East Airlines has denied that a missile was fired at one of its aircraft over Syrian airspace
04:00 GMT

Middle East Airlines has denied a media report that two of its planes were targeted by surface-to-air missiles (SAM) while crossing Syrian airspace, a statement from the company said late Monday.

Jordan has cancelled a crackdown on illegal workers
03:00 GMT

Authorities in Jordan announced that the campaign targeting illegal labourers in the Kingdom has been suspended. No official reason has been given, but Jordan's King received a call from the Egyptian president on Monday

December 11, 2012

Countries like Iran say that OPEC should bring down production as demand has come down in Western nations
20:49 GMT

Markets, are turning their eyes to Vienna where an OPEC meet is scheduled Wednesday 12 December that will addresses crude oil performance.

Yet more pressure for Morsi as the $4.8 billion IMF loan is put on hold
17:35 GMT

Egypt’s political turmoil has prompted the delay of a $4.8 billion International Monetary Fund (IMF) loan to the country’s Islamist-led government, further complicating the country’s economic prospects.

Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves
13:43 GMT

The Iranian Oil Ministry reportedly plans to establish a refinery near the Caspian Sea and feed it by crude oil which is derived from the sea.

Lebanese banking affiliates’ profits in Syria plunge by more than 69 percent
10:34 GMT

Profits of Lebanese banks’ subsidiaries in war-torn Syria have plunged by 69.42 percent in the first three quarters of 2012, a report by Credit Libanais said.

Police received nine complaints from customers who had been robbed in that manner over a period of two months
08:53 GMT

Eight men in a Colombian-Afghani crime ring believed to be behind several bank robberies in Abu Dhabi have been reeled in police.

Since World Trade Organisation establishment in 1995, this would be the first time that Jordan is competing for this prominent position
07:46 GMT

Jordan will be in the running for the top post of the World Trade Organisation (WTO) for the first time with candidate Ahmad Hindawi when the term of the French big cheese Pascal Lami comes to an end on August 31, 2013.

Ministers agreed not to separate the issue of the salary scale in principle and the means to fund it
07:02 GMT

The Cabinet failed again Monday to pass the controversial salary scale as both the private sector and labor groups remained deeply divided on whether to raise the salaries of civil servants and teachers substantially.

December 10, 2012

China and other countries in Asia, including South Korea continue to buy Iran’s oil
16:23 GMT

Western pressure that forced foreign ship classifiers out of Iran has increased safety risks including the danger of an Iranian vessel spilling oil on another country’s coast, the chief executive of Lloyd’s Register said.

The World Bank forecast a $1.5 billion Palestinian budget deficit for 2012, with donor funds expected to cover only $1.14 billion of this shortfall
13:16 GMT

Arab states agreed to provide the Palestinian Authority with a $100 million monthly “financial safety net” to help President Mahmoud Abbas’ government cope with an economic crisis after the UN granted de facto statehood to Palestine, Reuters reported.