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September 3, 2012

On an annual basis, real gross domestic product (GDP) expanded 4.3 per cent in the second quarter after a 5.9pc jump in January-March
14:16 GMT
Bahrain's economy has returned to a solid growth path after last year's unrest, Central Informatics Organisation (CIO) said yesterday.
Eleven days after the cyber attack, the company was still trying to establish the identity of the attackers
14:10 GMT
State oil producer Saudi Aramco is still repairing damage from a virus which infected thousands of employee computers in mid-August but the control systems and oilfield data are unaffected, sources familiar with the matter said.

September 2, 2012

The Gulf doesn’t have the same deep-seated issue as elsewhere of needing to revive demand to pay off debt
13:19 GMT
Inflation under control, and the overall financial balances of government budgets and balance of payments on current account in comfortable surplus.
The sanctions have affected the distribution of income in the region, so Iran is getting less and the Arabian Gulf is getting more
12:52 GMT
Millions of dollars have reportedly been pouring into the GCC from increased oil sales since an international embargo was imposed on Iran in July, according to Bahrain-based experts.
The majority of non-OPEC supply growth is likely to come from North America
12:01 GMT
Global oil demand is expected to rise by 0.8 – 0.9 million barrels per day (around 1 percent) in 2012, above last year’s increment though below the historic average, said a report.

August 30, 2012

White-colored cars hold the best market value, beating black, silver or blue colored cars.
16:19 GMT
According to valuation experts CAP, white cars typically hold about five percent more of their value than the market average for a typical used car while blue cars still languish below market average values.
Egypt backs rights of countries to have peaceful nuclear energy and calls for a Middle East free of nuclear and mass destruction weapons
15:51 GMT
Egypt's President Mohammad Morsi voiced support for countries in pursuit of peaceful nuclear energy in an address to the 16th summit of the Non-Aligned Movement (NAM) on Thursday.
Prices of gasoline and petroleum products reached the highest levels in four months Wednesday
15:20 GMT
Soaring fuel prices have exacerbated Lebanon’s already battered economy as rising production costs put more pressure on industrialists and farmers, economists said Wednesday.

August 29, 2012

Holiday Inn Express looks forward to building on this success and continuing to evaluate new investment opportunities in Bahrain in the future
13:44 GMT
Bahrain has been and continues to be an attractive tourism and hospitality market.
As mobile technology transforms consumers’ lives, the research industry must continue to change with it in order to remain at the leading edge
12:13 GMT
Mobile has truly become a global phenomenon and looks to be the de facto standard model as the rise of the SmartPhone and mobile internet usage becomes an everyday commodity.
The clear message from Samsung is that a strict internal firewall between its handset business and its components operations remains intact
11:48 GMT
While Samsung Electronics is reeling from a patent pounding by its smartphone rival Apple, this is unlikely to damage the other part of their relationship - where Samsung is the sole supplier of Apple-designed chips that power the iPhone and iPad.

August 28, 2012

The unusual tactic was begun in early April and affects a quarter of Iran’s tanker fleet
14:50 GMT
Iran, the sanction-hit nation, has been routinely switching off satellite tracking systems on its sea-bound oil tankers for more than a month, in what US officials and industry analysts describe as a cat-and-mouse game with Western governments.
The size of trade exchange between Egypt and Russia in 2011 reached $2.3 billion
14:40 GMT
Egypt seeks to sign a free trade agreement with Russia and increase its exports to the country that has recently become the 156th member of the World Trade Organisation (WTO).
Saudi Aramco did not discuss or give any clues as to how the virus got into the system
14:18 GMT
Saudi Aramco is back on line and operational. This past Sunday, Saudi Aramco announced that all workstations had removed the virus and everything was back to normal.

August 27, 2012

A chief concern is the decline in central bank reserves which have plunged from $36 billion at the start of January 2011 to $14.4 billion
12:41 GMT
IMF approval of Egypt's request for nearly $5 billion in aid would come as a vital boon to its reeling economy but President Mohamed Morsi must at the same time enact tough reforms, analysts say.