Main headlines

February 24, 2014

Losses due to the strike have reached EGP 800, 000
03:55 GMT

Egyptian workers in various public sectors have entered another day of strikes in protest to financial conditions and demanding the application of the minimum income law.

Overall outlook on sales was positive with 97 per cent of the businesses expecting either an increase or no change in their sales volume in Q1 2014.
03:55 GMT

In Q1 2014, around 62 per cent of Dubai businesses also expected to see stronger net profits based on increasing demand and improved margins.

The report indicated that Germany is in second place on the list, with 36 firms, while Iran was third, with 21 companies.
03:55 GMT

Entrepreneurs from Syria established more businesses in Turkey than any other country in the first month of the year.

February 23, 2014

Shaham says that the bill must include a clause requiring the Tax Authority to notify taxpayers that it intends to provide a foreign tax authority with information about them.
14:04 GMT

"This bill is an earthquake for Israeli business and wealthy individuals. Now is the last chance to submit a request for voluntary disclosure," says Shaham.

The people are moving away from SMS and moving to instant messaging platform as an important tool.
13:18 GMT

“Apparently, Facebook will gain more subscribers and expand its mobile services in the Middle East. It makes sense for Facebook to purchase WhatsApp," said Fadi Salem.

More than $1 billion in tourism revenue have been lost since Mursi’s removal
08:21 GMT

International tourism companies have urged holiday-makers in Egypt to remain in their hotels if they are already in the northern Sinai region of the country.

The ministry has been conducting studies on the economic effects of levying taxes on companies
08:14 GMT

The UAE has no immediate plans to impose tax on individuals, Sheikh Hamdan Bin Rashid Al Maktoum, Dubai’s deputy ruler and Minister of Finance has confirmed.

The number of public transport users last year hit 115,670,587 riders compared with 107,800,000 riders in 2012
08:02 GMT

Mass transit systems of Dubai’s Roads and Transport Authority (RTA) - comprising the Dubai Metro, public buses, marine transit modes and taxis -- have lifted 440.67 million passengers in 2013.

Jordan and Iraq are speeding up their measures and efforts to construct the pipeline, a senior official at the Aqaba Special Economic Zone Authority (ASEZA) told The Jordan Times.
03:55 GMT

"Iraq will provide Jordan with oil at preferential prices,” Mahadin added.

During the three-day visit to India, the MOIC and EDB coordinated business delegation participated in the Bahrain-India business seminar in New Delhi and a business seminar hosted by the CII in Mumbai.
03:55 GMT

The agreements reflect the broad range of relations between the two countries across a number of sectors, from chemicals to financial services and from ICT to health care.

Chinese Commerce Minister Gao Hucheng, heading a delegation of more than 20 top Chinese officials and economic managers, is currently in Tehran.
23:32 GMT

The conference will also discuss opportunities for the two countries to launch joint investments in other countries.

February 20, 2014

The Tamar partners will sell the gas over 15 years starting 2016.
20:05 GMT

The contract, worth $500 million was mediated by US Deputy Assistant Secretary for Energy Diplomacy at the State Department Amos Hochstein,

At the start of 2014, Iraq has become one of the world’s fastest-growing emerging markets, offering huge opportunities for those fast and flexible enough to gain a foothold
19:53 GMT

The value represents 28 percent of some $519 billion that have been poured into ongoing projects or will be invested in projects in the pipeline.


The value of the deals was not disclosed but local media put the figure at around $4.0 billion (2.9 billion euros).
19:41 GMT

The value of the deals was not disclosed but local media put the figure at around $4.0 billion (2.9 billion euros).

The Kingdom, the world’s largest crude exporter, shipped 7.54 million barrels a day on average last year, up from 7.41 million barrels a day in 2012.
19:33 GMT

Saudi Arabia exported more crude oil in 2013 than in any year since at least 2002, according to official statistics posted on the website of the Joint Organizations Data Initiative (JODI).