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May 8, 2014

The Israeli Credit Insurance Company Ltd. (ICIC) warns that the worsening crisis in Ukraine could harm Israeli exports.
16:04 GMT
There have been reports about defense deals for the supply of Israeli unmanned aerial vehicles (UAVs) to Russia, and that the Russians are very interested in procuring other Israeli military systems
The erosion of surpluses has prompted calls to restrain the government spending that has powered the Gulf’s economic boom over the past two decades.
15:53 GMT
Saudi Arabia’s budget surplus, which the International Monetary Fund estimates was 8.3 percent last year, is expected to shrink to 4.9 percent of gross domestic product this year and 3.7 percent in 2015.
At the end of 2013, the fast expanding emirate saw total housing stock reaching 232,000 units, says Colliers International, a leading property advisory firm.
15:04 GMT
The emirate is facing a rise in demand for housing by six per cent year-on-year with an additional demand of 15,208 units in 2014, according to Colliers.
The financial committee, which was formed to draft a new budget for the university, presented its results orally, reducing the hike on tuitions to 3 percent for current students, and 5 percent for new students.
01:51 GMT
Protests by American University of Beirut (AUB) students this year did not target only tuition fee hikes, but also voiced demands related to transparency, participation in running the university, and tackling corruption
In March 2014 alone, foreigners bought 478 properties in Istanbul, out of a nationwide total of 1,362, according to the Turkish Statistical Institute.
00:35 GMT
"The Gulf-Turkish affair is gaining momentum"

May 7, 2014

“The legislations and regulation of the Suez Canal national project are currently being studied [by the government],” he added.
21:07 GMT
The revenues of the Suez Canal registered $1.214bn during the first quarter of 2014 compared to $1.187bn during the same period last year, constituting an approximately 2.2% increase.
Last week, official data showed a worsening trade deficit had further eroded Tunisia's foreign currency reserves, which had fallen to just 93 days of import cover.
04:55 GMT
"This (Algerian) financing will bring the reserves back to levels equal to 100 days of imports," Tunisian Central Bank governor Chadli Ayari said in an interview with state television on Sunday.
Jasser said he targeted annual economic growth of five percent in the country’s next five year development plan for the years 2015-2019.
03:55 GMT
The huge increase in welfare spending has helped buy social peace in Saudi Arabia and has spared the kingdom the kind of upheaval that toppled governments elsewhere in the Middle East and North Africa during the ‘Arab Spring’ that began in 2011.
Jordan may have struck gold in securing much-needed energy resources as it starts the commercial exploitation of its oil shale reserves
01:43 GMT
Jordan, according to the World Energy Council, sits on the world’s eighth largest proven reserves of oil shale estimated at more than 40 billion tonnes. In a country as hungry for energy as the Hashemite kingdom, it has the potential to be a gamechanger.

May 6, 2014

Saudi Arabia had previously placed a travel ban to Lebanon on its citizens, amid security concerns (File/AFP)
14:35 GMT
Tourism is expected to peak in Lebanon this summer despite the unstable security situation, tourism minister Michel Pharaon said Monday.
Saudi workers will be charged one percent of their monthly salary to benefit from the scheme (File/AFP)
14:18 GMT
Saudis will now get up to $6,400 if they stay in their jobs. The new scheme has been launched in the Kingdom to keep workers in jobs for longer.
Wacker's GCC sales are predominantly in construction and infrastructure (File/AFP)
14:06 GMT
More than half of Wacker Chemie's business is in GCC countries. What else does the Munich-based manufacturer have to offer?

May 5, 2014

With the annual demand for water is increasing by 8.8 percent due to the 2.5 percent rapid growth of population, Saudi Energy 2014 is to exhibit cutting-edge technology and latest products in water desalination.
23:51 GMT
The demand for water has prompted the government to sign several contracts worth billions of dollars to establish new desalination facilities in the Kingdom.
The shortage of teachers is one of the reasons why international schools will be closing down across Saudi Arabia. (Image: Facebook)
13:44 GMT
The National Committee for International Education at the Saudi Council of Chambers expects that 500 international schools across the Kingdom will close down by next year.
Tourism only generates six percent of Jordan's GDP, but has the potential to generate over 10 percent in the upcoming years (File Archive)
08:39 GMT
Jordan faces a number of economic issues ranging from poverty and high unemployment to severe levels of public debt. The country's tourism sector, however, may be one of many ways to solve the country's economic woes.