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The results indicate increases of 35 per cent in tourists from the UAE, 6.3 per cent from Saudi Arabia and 10.8 per cent in tourists from Kuwait.
16:26 GMT

The average stay for the Arab tourist — particularly GCC nationals — increased from 9.5 nights in 2013 to 11.6 nights in 2014.

Iran’s Targeted Subsidy Reform remains one of the most ambitious attempts to reform subsidies in an energy-exporting country.
14:11 GMT

A new IMF paper shows how subsidy reform has recently gained momentum in the Middle East and North Africa and outlines the elements of successful subsidy reform.

Yemen has struggled to pay public sector salaries and finance food and energy imports, which has led to power cuts and fuel shortages
04:55 GMT

But reducing subsidies is hard in a country where a third of the population of 25 million lives on less than $2 a day, and this week’s austerity package did not address subsidies.

Historically, Iran’s economy has been heavily dependent on oil, and the fluctuations of oil prices and exports over the years have directly influenced the government’s budgets and actions.
04:55 GMT

Finance and Economic Affairs Minister Ali Tayyebnia says Iran will no longer promote an oil-based economy even if the economic sanctions which have been imposed against the country are totally lifted.


Efforts to reach agreement on a new government in Baghdad to confront the insurgents have been complicated by the tensions between Maliki and the Kurds.
04:55 GMT

An oil ministry spokesman in Baghdad described the takeover as dangerous and irresponsible and called for the Kurdish forces to withdraw immediately.

A number of foreign partners have reduced investments in the sector for the upcoming period, which will cause average natural gas production to stabilise.
03:14 GMT

Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April.

July 11, 2014

“We are close to an agreement on holding a Parliament session on July 17 to pass laws adopting the new salary scale and government expenditures,” the source said.



Read more: http://www.dailystar.com.lb/News/Lebanon-News/2014/Jul-11/263496-wage-hike-breakthrough-expected-next-week.ashx#ixzz377kRp4Ue 
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
03:42 GMT

Breakthrough in the long-running crisis over public workers’ salaries is expected next week, a ministerial source revealed to The Daily Star Thursday.

The world’s most expensive cities for expats are both in Africa. Luanda in Angola is ranked first for the second year, followed by N’Djamena in Chad.
03:38 GMT

Rising housing costs has pushed Dubai up the rankings in an annual survey of the most expensive cities in the world for expatriates to live in.

Egypt, one of the world's largest wheat importers, said on Thursday it had enough wheat to last for six months.
03:21 GMT

Egypt purchased 3.7 million tonnes of local wheat and also bought 5.46 million tonnes of wheat from abroad during the 2013-2014.

Boeing expects airlines to buy 25,680 new single-aisle planes over 20 years,
02:11 GMT

Boeing’s annual forecast, released in conjunction with the airshow, said single-aisle airplanes such as the 737 and A320 will garner the most orders.

July 10, 2014

In the meantime, Riyadh Municipality officials closed 23 restaurants in the capital for violating health regulations.
13:31 GMT

Security officers in Saudi Arabia have arrested nearly 2,200 foreign workers in Madinah and Hail and Baha this month for allegedly violating the country’s residency and labor regulations.

The price spread between the two benchmarks touched the narrowest point in almost a month at $5.20 on Wednesday, driven by speculators dumping Brent.
03:40 GMT

Brent crude oil traded at a one-month low below $109 a barrel on Wednesday after a Libyan oilfield restarted and supply worries faded

With Dubai’s property market booming, analysts warn that several signs of excesses, reminiscent of pre-crisis years, are returning to the market
03:24 GMT

Dubai’s Damac Properties has announced that it will be offering luxury cars to select property buyers as part of its Ramadan promotion.

DP World, which has a portfolio of about 65 terminals across six continents, owns one-third of Djibouti’s Doraleh Container Terminal, the company’s annual report says.
02:58 GMT

Djibouti said it had started legal action against DP World, seeking to rescind the Dubai-owned port operator’s concession in Africa’s largest container terminal in a row over how the contract was awarded.

July 9, 2014

The value of the deal could increase to $75 billion at list prices if Emirates firms up its right to purchase the additional planes, Boeing said in a statement issued in Dubai.
16:33 GMT

Boeing said the 777X will introduce the latest technologies including "the most advanced commercial engine ever".