Main headlines

June 26, 2014

Bill Gates, co-chair of the Bill and Melinda Gates Foundation, expressed willingness to collaborate with  King Abdullah University of Science and Technology (KAUST) in research projects focusing on agriculture and food production.
04:55 GMT

On cooperation between Gates Foundation and Saudi Arabia, he said “Saudi Arabia is the most generous country in terms of overall philanthropy.

Oman has significantly increased state spending on healthcare in recent years, although it has also encouraged the private sector to take on a greater role.
01:14 GMT

Oman has set aside $3.38 billion in its 2014 healthcare budget, more than double the $1.3 billion spent last year, in part to sharpen its focus on combating non-communicable diseases, such as diabetes, hypertension and obesity, said a report.

June 25, 2014


The Business Insider World’s Best Airlines list was compiled using the criteria of the quality of the passenger experience and the airline’s punctuality
13:06 GMT

Oman Air achieved ninth place in the list, beating many of the best-known giants of the aviation industry, in areas such as its passenger experience.

Nakheel is able to prepay all of its bank debt ahead of schedule due to savings of around AED 23 billion on its business plan,
12:37 GMT

Dubai developer Nakheel will repay all AED 7.9 billion owed to bank lenders with an early repayment in August 2014, nearly four years before the final loan instalment due in March 2018, the company reported today.

FENDI Casa translates the FENDI savoir faire and creativity, as well as its distinctive materials, into elegant objects and cinematic ambiances that are timeless and exceptionally made
12:08 GMT

The 34 properties are located in a private-gated community in the 42 million sq ft Akoya by DAMAC master development off Umm Suqeim Road in Dubai.

“Investors get scared, but more than that, people who provide them leverage get scared,” Mohindra said.
11:56 GMT

Saudi Stock Exchange (Tadawul), the Middle East's largest bourse that is planning to go public, reported a 37 percent drop in 2013 net profit, its first ever financial disclosure showed on Tuesday

Economic researcher at Stanford University Amro Adly said that the establishment of a fund to collect donations is a “populist measure” that falls short of an economic solution/
11:50 GMT

Governor of the Central Bank announced the opening of a new bank account under the number 037037, a reference to the date on which President Abdel Fattah Al-Sisi declared the ouster of former president Mohamed Morsi.

Social Development Ministry Secretary General Omar Hamzah made the announcement on Tuesday during a visit by Prime Minister Abdullah Ensour to the ministry.
11:30 GMT

The Ministry of Social Development has started preparations to distribute JD100 in cash assistance to identified underprivileged families, under a Royal makruma, as the fasting month of Ramadan approaches.

June 24, 2014

Prime Minister Recep Tayyip Erdoğan has been voicing his disapproval of the central bank since late January,
23:26 GMT

The comments came a day before the central bank was scheduled to meet and decide upon a potential rate cut.

“The objective of the fund is to achieve a risk adjusted medium to long-term capital appreciation while generating a quarterly cash dividend to investors,” it added.
17:57 GMT

With a targeted size of $5 billion from a combination of equity and debt, the fund will focus exclusively on Airbus aircraft.

A market of 500 million people, the EU remained the world's biggest importer of farming and food products, though the level was mostly unchanged from 2012 at 101.5 billion euros.
04:55 GMT

The European Union (EU) beat out the United States to become the world's top exporter of agricultural and food products last year,

After four days of trading in the green, the Saudi stock market saw a significant setback on Monday, dropping more than one percent or 103.85 points.
04:55 GMT

Tourism, Construction and Real Estate Development sectors showed the worst performance.

However the company has seen its share price drop dramatically from a high of $73 dollars in December to a low of just $30 last month — though the price has rebounded somewhat in recent weeks.
04:55 GMT

As well as not wanting to sell on the grounds they were just starting out, Stone says another reason was that he just didn’t click with Zuckerberg.

“In terms of tourists from emerging markets we can say that it is increasing by 70 per cent a year,” added Miguel.
00:04 GMT

The increase in tourism numbers was spurred by the launch of a daily Emirates flight route to Lisbon back in July 2012.

June 23, 2014

The contractor has plunged 48 per cent so far this month and 53 per cent from a record Dh7.40 in May
22:49 GMT

“The company must be forced to come up with an announcement to ease tension among the investors, mainly the small investors,” Wadah Al Taha, chief investment officer of Dubai-based Al Zarooni Group, said.