Main headlines

Today

Iran is normally among the first members of the oil producers’ group to call for supply cuts to support prices.
04:55 GMT

Iran’s dependence on oil revenue is putting the Islamic Republic’s economy at the mercy of major powers,

October 22, 2014

One-year dollar/Saudi riyal forwards jumped to 90.0 points, their highest level since a peak of 91.50 points hit in March 2011.
11:44 GMT

The dollar demand had pushed the Saudi riyal’s spot rate unusually far beyond its peg of 3.75 against the dollar.

Work on the dome, which consists of 85 super-sized steel elements and weighs 7,000 tonnes, began in December 2013.
04:55 GMT

The construction of all the galleries has also been completed structurally, along with the concrete work for the museum’s basement levels and the security screening facility.

October 21, 2014

can cover the country’s needs for around 275 years, according to Khaled Shraideh.
22:29 GMT

The Kingdom’s oil shale reserves rank fifth worldwide in terms of quantity.

Shoukry believes that, besides the GCC, Jordan represents approximately 80% of total Arab tourism to Egypt.
21:47 GMT

The Ministry of Tourism is aiming for regional tourism to account for 20% of the total inbound tourism to Egypt, according

Christophe de Margerie, chief executive of French oil giant Total, died on Monday in a business jet that collided with a snow plough during takeoff in Russia.
21:12 GMT

With his unique bushy mustache and outspoken manner, De Margerie was one of the most respected figures among the top oil executives in the world

Those affected by Standard Chartered's exit have an annual sales turnover of between $1 million and $35 million, it added.
11:16 GMT

Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators

On 31 January 2011, Moody’s downgraded the government bond rating for Egypt from BA2 to BA1, and changed the outlook from stable to negative
04:55 GMT

International rating agency Moody’s has changed Egypt’s outlook from negative to stable, attributing the upgrade to the stabilised political and security situation.

October 20, 2014

 North America's shale boom has started to squeeze Saudi oil out of the US market,
23:21 GMT

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years.

The two governments signed the neutral zone agreement almost 50 years ago.
04:55 GMT

A Kuwaiti oil trade union on Sunday condemned the unilateral closure by Saudi Arabia of an offshore oilfield jointly operated by the Arab neighbours

Average apartment and villa rental rates dropped by two per cent and three per cent respectively compared to second quarter figures.
04:55 GMT

Dubai’s real estate sector registered a slowdown in rents and sales prices during the third quarter of the year.

The two-week trip sets back each participant at least £9,000 ($14,333) and some as much as £25,000 including.
00:51 GMT

The train may carry more wealth than the annual economic output of some of the places it crosses.

Shiraz will become the airline's third Iranian destination supplementing existing operations to Tehran.
00:22 GMT

Gulf Air, the national carrier of Bahrain, yesterday (October 18) announced the relaunch of flights to Shiraz, the capital of Fars Province in Iran.

October 19, 2014

The company, which saw annual revenues of over $4.5 billion in 2013, employs 130,000 people and conducts operations across the Middle East, Africa, Asia and North Americ
23:08 GMT

CCC, one of the largest construction companies in the Middle East, was founded by Khoury in 1952 along with his cousin Hasib Sabbagh and Kamel Abdul-Rahman.

On receipt of the funds from refiners, the RBI would buy dollars from authorized dealers.
13:01 GMT

Indian refiners together owe about $6 billion to Iran.