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The long-awaited contract, announced late Friday by the US Department of Defense, includes spare parts and is due to be completed by April 30, 2019.
13:48 GMT

US weapons maker Raytheon has won a contract valued at $2.4 billion to supply 10 Patriot missile defence systems to Qatar,

Economists are warning that even with the huge reserves many have built up, a prolonged drop in oil prices will hit Gulf states hard.
04:55 GMT

Gulf countries could lose at least half their oil revenues or around $350 billion a year as crude prices plunge, according to senior analysts.

December 19, 2014

According to the report, there were 998,100 government employees in the Kingdom consisting of 991,000 Saudi men and women.
13:51 GMT

A total of 5,298 expatriate government employees were sacked in 2011 while 4,380 Saudi female government employees left their jobs in the same year, a study revealed.

The Dreamliner has been delayed by “one to two weeks” due to “certification issues,” Hogan said.
13:45 GMT

Etihad Airways is not interested in ordering any more Airbus A380s, while the launch of its first Boeing 787-9 Dreamliner into service has been delayed.

No details were given in the report on how much gas Bahrain could potentially import.
00:29 GMT

Bahrain could start importing gas from Russia in 2017, Russia’s ambassador to the Gulf Arab kingdom told a local newspaper.

He added that JIC will cover the entire Kingdom through specialised employees with offices in the governorates.
00:24 GMT

The "investment window" will officially be launched in mid-April 2015, Jordan Investment Commission (JIC) President Montaser Okla said Thursday

The rating comes as brent crude price dropped below $60 per barrel on Tuesday
00:07 GMT

Fitch Ratings has issued a stable outlook for all banks in the GCC in 2015, largely driven by the probability of sovereign support in times of trouble.

December 18, 2014


Kuwait Energy holds a 49.5 per cent revenue interest in the East Ras Qattara development lease
23:58 GMT

This is a very important discovery as this is the first time that the Jurassic formation is proven to be a hydrocarbon producer in the East

he Gulf stock market losses came on top of over $200 billion of value already destroyed since the end of October
04:55 GMT

Qatar’s index tumbled 3.5 percent and Kuwait lost 2.1 percent.

Bassil reiterated that the size of trade between Lebanon and Latin America, which has about 12 million Lebanese and their descendants, has not exceeded $14 million per year during the last five years.
04:55 GMT

Foreign Minister Gebran Bassil signed a free-trade agreement with the Mercosur countries of Latin America, stressing the importance of maintaining good relations with the bloc.

The kingdom is the largest economy in the Arab world, and OPEC’s biggest crude producer.
04:55 GMT

Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil which provides the bulk of the kingdom’s revenue.

December 17, 2014

He also said OPEC would need to see how badly the market was oversupplied and for signs of demand picking up.
18:18 GMT

Core Gulf OPEC oil producers signalled this week they are prepared to wait as long as six months to a year to see the market stabilise,

‘I’ve always said the realistic price for out-of-ground: $70. Should never, ever have been above that.
18:11 GMT

The airline industry is set to reap the benefits of lower oil prices, which could fall to as low as $30-a-barrel.

The Egyptian government has finished upgrading the airport in the resort town of Hurghada,
17:39 GMT

The airport in Hurghada, a major tourist hub on the coast of the red sea, will now be able to accommodate 13 million passengers annually.

Dubai’s real estate scene has also seen a number of new property launches over the year.
15:17 GMT

Dubai’s residential rents have stabilised in the second half of 2014, growing seven per cent year-on-year in 2014.