Main headlines

June 16, 2014

In Dubai, property developer, Arabtec, dropped the most allowed to reach a share price of Dh4.50.
03:55 GMT

Most markets in the Middle East and North Africa region ended the day’s trade in the red because of the Iraqi conflict.

June 15, 2014

The OPEC meetings since 2012 have produced no policy change.
19:45 GMT

Saudi Arabia has suggested OPEC meet just once a year, rather than twice, a sharp reduction from the days when the group met for up to seven times a year in the early 2000s.

Morocco has raised one billion euros ($0.7 billion) on the international market in a 10-year bond at 3.5 per cent
19:40 GMT

The 3.5 per cent loan rate is less than that obtained on the dollar market in 2012-2013, showing the "confidence in Morocco's economic and political stability”.

The money would go to the West Bank-based PA, Bseiso said, and a “special fund” would be set up to pay wages while the government discussed how to resolve the issue.
04:55 GMT

The PA has so far refused to pay Hamas’ 50,000 civil servants, who are not registered as its employees because they were appointed after the Islamist movement ousted bitter rivals Fatah – which dominates the PLO – from Gaza in 2007.

The airline began non-stop daily flights from Abu Dhabi to World Cup host city Sao Paulo in June
03:55 GMT

All 64 games will be transmitted live by IMG Media using Etihad’s inflight entertainment system, E-box, a statement said.

On average, SABIC files a new application every 18 hours, each based on the work of approximately four researchers, the statement added. The petrochemicals giant said that it filed 373 patent applications in 2013 and applied for 159 applications in the first quarter of this year.
03:55 GMT

On average, SABIC files a new application every 18 hours, each based on the work of approximately four researchers, the statement added.

Private wealth in the Middle East and Africa soared 11.6 per cent reaching $5.2 trillion in 2013 according to a new report.
03:55 GMT

Key drivers for this increase included continued strong nominal GDP growth in oil rich Gulf countries.

June 12, 2014

He also explained that the ministry's "Ajeer" system is linked to recruitment companies and will allow the ministry to monitor the recruitment deals between the companies and their clients.
15:42 GMT

The Ministry of Labor is planning to unify the wages of domestic workers hired on a temporary basis,

The King launched the project in the presence of Her Majesty Queen Rania and HRH Crown Prince Hussein as well as high-ranking officials, officers and local and international businesspeople.
11:47 GMT

His Majesty King Abdullah on Wednesday launched Abdali Boulevard, a JD300 million project, which is part of the $5 billion Abdali project, the largest mixed-use urban development scheme in Amman.

IALI has always worked in close partnership with the International Labor Office and other host country organizations, and is increasingly working at regional levels.
10:01 GMT

The International Association of Labor Inspection (IALI) is the global professional association for labor inspection.

The Abu Dhabi carrier, which began operations to Los Angeles earlier this week is in the final stage of negotiations with the Italian carrier.
09:39 GMT

It is believed to be the first time the size of the stake has been stated publicly.

Egypt’s economic position was negatively affected by a decline in foreign direct investments (FDI) and tourism arrivals.
08:35 GMT

“We believe Egypt will likely enter into a standby agreement with the IMF [International Monetary Fund] soon,” the study said.

June 11, 2014

Dubai stocks have indeed become some of the most highly valued equities in the world, but  correction from these heights is only to be expected.
14:08 GMT

The main index of the Dubai Financial Market fell by four per cent yesterday after weekend warnings from the UAE Central Bank that the local property market was overheating

Emirates was among the first buyers for the A350 rival model to Boeing’s 787 Dreamliner when it placed the order for 50 A350-900 and 20 A350-1000 jets in 2007.
12:45 GMT

The deal was worth around $16b at 2007 list prices, or close to $22b based on the current catalogue

The US had set a deadline of July 1 before American banks were to be required to withhold some payments to the financial institutions of countries without a Fatca agreement.
12:33 GMT

The UAE has reached an initial agreement with the US to carry out a financial data-sharing programme aimed at curbing offshore tax evasion by US citizens.