Main headlines

December 26, 2013

The central bank on Tuesday made its most clear commitment yet to ramping up its support of the lira, promising to sell at least $6 billion in foreign currency by the end of January.
03:55 GMT

Turkey’s main stock index fell 4.2 percent to 66,096.57, adding to heavy losses from last week.

December 25, 2013

That the Expo 2020 win would prove a catalyst for new trends in Dubai’s real estate sector was a foregone conclusion.
14:07 GMT

In the days immediately after the win, asking prices at some of the emirate’s emergent freehold master-developments have seen an appreciable spike.

Infrastructure spending in the gulf has risen sharply in recent years. (Image credit: Shutterstock)
10:02 GMT

Bond issuance from the Gulf Arab region is set to surge next year on the back of heavy infrastructure spending and refinancing needs.

Bahrain diesel prices will gradually increase over the next five years, with prices set to double by 2017 (File Archive)
05:00 GMT

Bahrain announced Tuesday that it will "gradually raise" its national diesel fuel selling price to "reduce [the country's] heavy subsidy burden."

“This questionnaire addresses all workers including foreigners and women and it aims at understanding their viewpoints on work-related issues,” he said.
03:55 GMT

The Labor Ministry said on Tuesday that it was collecting information from Saudi and expat workers about working atmosphere in the Kingdom and problems facing them at places of work, through a questionnaire

December 24, 2013

“According to the South Sudanese petroleum ministry… oil production in the state of Unity has been shut down, resulting in a loss of production of some 45,000 barrels per day.
18:40 GMT

At least 45,000 South Sudanese civilians have sought protection at badly overstretched UN bases amid brutal fighting that has spread to half of the young nation’s 10 states, the United Nations said Tuesday

“We are in a rally, but at the end of the day it depends on whether it has legs and this depends on earnings.”
18:28 GMT

Some fund managers think a pull-back is likely in the near term since Dubai has risen so sharply.

The Egyptian government owes Dana Gas $330 million (File Archive)
13:14 GMT

Dana Gas received $53 million from the Egyptian Government Tuesday as part of its outstanding receivable from Cairo worth $330 million.

Saudi Arabia is the largest importer of cars in the Middle East region (File Archive)
12:55 GMT

Saudi International Motor Show (SIMS) will take place from Dec. 24-29 at the Jeddah Center for Forums and Events.

Dubai eMart allows investors, firms and customers conduct real estate transactions online (File Archive/Shutterstock)
12:37 GMT

Dubai's new online portal for real estate attractions, eMart, already visited by 29,000 customers, has attracted hundreds of investors and real estate firms in its first month since its launch in November.

Qatar Projects 2014 will focus on Infrastructure & Transport as well as Energy & Utilities (File Archive)
10:21 GMT

Qatar will award contracts amounting to $200 billion until 2030 for construction projects and related development in the tiny Gulf country.

labor market dynamics, currency fluctuations and the economic decline in Asian countries have weakened the workers’ ability to negotiate. (Image credit: Human Rights Watch)
08:23 GMT

The average cost of construction labor fell 6.5 per cent month-on-month in November 2013.

Competition has grown steeply in the Saudi telecom sector. (Image credit: Shutterstock)
07:36 GMT

The Saudi telecom sector growth is set to experience a slowdown after three years of impressive organic growth,

Emirates Airline has finalised paperwork on its $23 billion order for 50 Airbus A380s that was announced at the Dubai Airshow last month.
03:55 GMT

The airline previously said it expects to take delivery of half of this order before the first quarter of 2018.

The first hurdle will be launching direct flights that reportedly only see’s 49,000 passengers travel annually between the two countries.
03:55 GMT

Oman is joining other Gulf Cooperation Council (GCC) countries in unrestricted air travel to the United States with the signing of a new US deal.