Main headlines

May 13, 2014

Saudia has already privatized five units including catering, cargo, ground services and Saudia aerospace engineering industries.
03:55 GMT

The Shoura Council directed on Monday the General Organization for Saudi Arabian Airlines (Saudia) to present a time-bound plan to Saudize the posts of pilots at the national flag carrier.

The alleged Brotherhood-affiliated companies operate in the fields of media production and contracting, he added.
03:55 GMT

The head of the committee, Ezzat Khamis, said its decision was based on the investigations of security and executive bodies.

"When we discussed with Jordanian authorities how public money should be spent, we proposed more expenditure on health and education, and less on energy subsidies,” Lagarde explained.
01:20 GMT

"When we discussed with Jordanian authorities how public money should be spent, we proposed more expenditure on health and education, and less on energy subsidies,” Lagarde explained.

“These rosy conditions are expected to continue, with lending growing by about 10-15 per cent per year for the next few years.
01:00 GMT

The profitability of Qatari banks will likely remain strong over the next 12 months,

May 12, 2014

Emirates has been expanding rapidly and has already launched services to three new destinations this year including Kiev, Taipei and Boston.
00:57 GMT

“The increased frequency will give our customers greater flexibility in their travel plans allowing them to connect to other flights on Emirates’ extensive global network.”

The airport features 138 check-in counters across five islands, comprising of 108 counters for Qatar Airways’ economy passengers and all other airlines;.
07:44 GMT

“We have been planning for this day for a long time and May 27 will be a momentous day for both the State of Qatar and Qatar Airways."

The popular U.S.-based website recently published a list of “9 Places You Absolutely, Positively Must See Before You Die,” with Lebanon coming in at number six behind Santorini, Greece, and just before London.
06:55 GMT

With security holding and travel bans lifting, many Lebanese are hoping this summer could see a revival of the country’s vital tourism sector, which just received another small boost from an unlikely source: The Huffington Post.

Kuwait began importing LNG in 2009 and signed deals with Shell and Swiss-based trader Vitol to supply it from April to October, the period of peak power demand, for the last four years.
04:55 GMT

Kuwait wants to burn LNG instead of resorting to diesel and crude oil, which have higher harmful emissions, KPC added.

Last year, extra supplies of liquefied natural gas from former ally Qatar helped ease the burden.
04:55 GMT

The government said last week that gifted fuel from Gulf nations including Saudi Arabia that supported Mursi’s ouster last July totalled $6bn.

The interim government’s stimulus plan, which was said to span between six to nine months starting from late August 2013, amounts to EGP 29.6bn and aimed at generating 3% economic growth over the fiscal year 2013/2014.
03:55 GMT

The minister pointed out that by the end of April 60% of the first stimulus package projects, which started in November, was completed.

“The first challenge, or the big one, is how to restore the political stability,” the minister said, but said it was an issue where the country is on the right track.
03:55 GMT

El-Araby stressed that the private sector “has always been and will continue to be the main player in the Egyptian economy.”

Eight of KSE’s sectors ended last week in the red zone, three recorded increases, whereas the Health Care sector’s index closed with no change from the week before
03:55 GMT

Kuwait Stock Exchange (KSE) ended last week in the red zone

May 11, 2014

Qatar’s bourse has officially reported that the combined first-quarter net profit of all but two companies amounted to QR11.1 billion, up 8.6 per cent year on year.
20:25 GMT

Dubai’s bourse has outpaced other Gulf markets by a wide margin in terms of companies’ first-quarter profit growth,

The Qazvin-Rasht-Astara railway is estimated to carry 1.4 million passengers and 5-7 million tons of cargo per year.
17:57 GMT

Russia has agreed to build the Rasht-Astara railway which stretches 167 kilometers in northwestern part of Iran.

Iran's vice president for legal affairs Elham Aminzadeh said "some sanctions have been lifted. But problems continue."
17:33 GMT

Iran's deputy oil minister for petrochemicals, said "nothing has changed compared with last year" in terms of petrochemical sales to the EU.