Main headlines

September 18, 2014

But Egypt wants long-term investments to improve the country's economy, which has been suffering ever since an uprising toppled President Hosni Mubarak in 2011.
01:23 GMT

Egypt's finance minister is predicting growth rates of up to 6 percent within three years, which would mark a major turnaround following three years of political turmoil that has crippled the economy.

September 17, 2014


The Middle East experienced a decline in its billionaire population over the past year.
17:14 GMT

The Middle East experienced a decline in its billionaire population over the past year.

Meanwhile Qatar’s emir also asserted that his country does not finance any terrorist organisations in Syria or Iraq and has never done so
17:02 GMT

German Chancellor Angela Merkel said she expected cooperation with Qatar in the energy sector to grow in the years ahead, saying progress was already being made in the area of liquefied natural gas (LNG)

The foundation work for the state-of-the-art school has begun at a cost of BD4.6 million ($12.2 million), it added.
16:22 GMT

The foundation work for the state-of-the-art school has begun at a cost of BD4.6 million ($12.2 million), it added.

Growth, spurred largely by international donor funds, has been decelerating since 2012 and slowed to less than 2 percent in 2013.
16:11 GMT

Its report, issued three weeks after a truce, said a strong world response to rebuilding needs could ultimately spur economic growth.

Although housing prices have continued to surge throughout the year, prices have also soared, particularly in İstanbul and other major urban centers.
14:49 GMT

İstanbul housing prices shot up 21.65 percent in August year-on-year, according to figures from real estate market analyst Reidin.

Helped by a firmer US economy, China’s exports have picked up recently to be a rare source of cheer in an otherwise gloomy data landscape.
05:55 GMT

China’s foreign direct investment in August fell to a low not seen in at least two and a half years, underscoring the challenges to growth facing the world’s second-biggest economy.

 These meetings form part of the mandatory updates required to be provided to the BIE as Dubai prepares for the submission of all requirements to seek formal approval at the next critical registration phase in November 2015.
05:55 GMT

The expansive Dubai Trade Centre-Jebel Ali complex features a centrepiece Dubai Expo 2020 gated facility spread across 150 hectares and a surrounding residential, hospitality and logistics zone.

The Suze Canal
04:55 GMT

The Suez Canal corridor project planned by a consortium led by Dar Al-Handasah will cost $220 billion over fifteen years, said Ashraf Salman, Egypt's investment minister,

The granting of the Unit Three and Four construction licence followed an intensive 18-month review by about 200 FANR and other technical experts.
04:55 GMT

The UAE has approved the construction of two additional nuclear power reactors at the Barakah site in the Western Region of the Abu Dhabi emirate by the Emirates Nuclear Energy Corporation (Enec)

September 16, 2014

An Egyptian misdemeanour appeals court has upheld a previous ruling sentencing construction tycoon Nassef Sawiris to three years of jail time and a LE50 million ($7 million) fine for failing to pay a settlement to Egypt's Tax Authority.
15:52 GMT

The original in-absentia ruling had been appealed in July, but Sawiris, former CEO of construction and fertilizer producer Orascom Construction Industries, failed to attend the appeals court session on Sunday.

Shares in Arabtec jumped 3.7 per cent on Monday following a report that its former chief executive Hasan Ismaik had agreed to sell half of his 27.9 per cent stake in the firm to Abu Dhabi state fund Aabar Investments.
15:45 GMT

Arabtec "does not have the information" on such a deal, it said in a bourse statement.

ICD is also developing the new Atlantic Hotel and Resort in Sanya city in Hainan Province, China, in cooperation with Kerzner.
15:31 GMT

Investment Corp of Dubai (ICD), the UAE emirate's sovereign wealth fund, will be developing a 800-room luxury hotel on Palm Jumeirah at a cost of $1.5 billion in partnership with Kerzner International Holdings.

The Suez Canal project includes the development of 76,000 sq km around the canal into an international industrial and logistics hub to attract more ships and generate income.
15:12 GMT

Fund-raising has closed and Egyptians will no longer be able to buy the investment certificates now that the initial goal of 60 billion pounds ($8 billion) has been exceeded, the governor said.

The UAE's non-oil producing private sector companies posted a marked strengthening of business conditions in August, as new orders and output rose at accelerated rate
05:55 GMT

That signaled stronger growth of output across global emerging markets, led mainly by a sharper increase in Chinese service sector activity.