Main headlines

May 24, 2012

Majority of MPs voted in favour of a proposal by nine of their colleagues to deduct a certain percentage of lawmakers’ salaries to support the troubled Treasury
Jordan's lower house gives up 15% salaries to treasury
08:50 GMT

Deputies on Wednesday agreed to deduct 15 per cent of their salaries for the Treasury to address the difficult economic situation, for six months starting the end of May.

May 23, 2012

Prime Minister Najib Mikati announced that a revised version of the 2012 budget will be sent to the Parliament later this week
Lebanon leans on private sector to close the deficit gap
12:02 GMT

Lebanon's Finance Minister Mohammad Safadi said Tuesday, calling for consensus on a draft law designed to ease fiscal pressures on the budget.

The price of 98-octane graded fuel now stands at LL36,000 while the price of 95-octane graded fuel is LL35,300
Gasoline prices plummet in Lebanon
09:07 GMT

The price of 20 liters of gasoline declined by LL1,000 and that of diesel by LL 500 from last week's price.

The social networking giant will be opening an office in Dubai Internet City
Facebook at work? They will be in Dubai
08:12 GMT

Facebook is opening an office in Dubai next week, just days after launching one of the biggest and most turbulent share listings in Wall Street history.

May 22, 2012

The drop is attributed to the wait-and-see mood impeding investors from initiating new projects on the back of fears that violence will spill over from neighboring Syria
Violence in Lebanon halts construction projects
13:31 GMT

Construction activity in the first four months of this year recorded a slowdown as revealed by the second consecutive yearly drop of total permits.

The Twitter and facebook accounts were shut down for containing abusive or threatening material
Online censorship: UAE police shut down Facebook and Twitter accounts
13:24 GMT

Fifteen facebook and Twitter accounts have been shut down by cops in Dubai this year for containing abusive and threatening posts.

Bahrain is focusing on upgrading the energy sector, diversify revenues and promote the Kingdom's status as a major investment destination.
Bahrain plans more oil excavation
12:49 GMT

Bahrain is currently under expansion of the refining and petrochemical industry by conducting more excavation and exploration operations.

The events raised questions on whether Lebanon would be able to attract the number of tourists and expats that it usually expects this time of year
Tourists cancel their Lebanese holidays as security situation deteriorates
12:39 GMT

North Lebanon’s volatile security conditions could threaten the country’s peak tourist season as hotels started to report cancellations Sunday.

The property is spread over an area of 37,410 square feet, housing 763 luxury apartments, including one, two, three and four bedroom apartments
It's official: World's tallest building in Dubai
11:33 GMT

The prestigious Guinness World Records has added another feather to Dubai's cap.

May 20, 2012

Airports are currently leading the boost, as tourism continues to be a major growth driver in the region
Gulf airport contracts fly ahead to the tune of $2bn
13:39 GMT

Airports captured the bulk of transportation contracts awarded in the first five months of 2012 with $2 billion worth of projects throughout the GCC.

3D glasses, plus educational videos and applications are set to hit the Emirates next month, which will give schools the option of holding lessons in 3D
UAE pupils encouraged to enhance learning with 3D specs
13:36 GMT

Pupils in the UAE could soon be soaking up flying algebra equations or feeling like they’re dodging bullets on a World War II battlefield.

Facebook’s share price began to fizzle, and dropped to below $39 just 20 minutes after trading began
Facebook's out for the summer: Roll up for FB shares!
13:30 GMT

The first hours of the social networking company’s IPO got off to a shaky start on Friday with the share price wavering around the $40 mark.

Oil has plunged 12 percent this month to about $92.50 after Iran and the six world powers resumed talks in Istanbul last month
Iran Economy Alert: Sanctions will have knock-on effect on west's economies
13:22 GMT

Oil prices might go as high as $160 per barrel if the European Union goes ahead with a July 1 embargo.

The all-share index closed 1.9pc lower at 6,966 points, 8.6pc higher than at the start of the year but a 12pc drop from a 44-month high hit on April 3
Saudi stocks take a dive
13:17 GMT

Saudi Arabian shares dropped nearly 2 per cent to a three-month low, weighed by declines in the heavyweight banking and petrochemical sectors.

The value of UAE hydrocarbon exports surged nearly 50 per cent to Dh409.9bn last year, $111bn
UAE current account surplus quadruples in the year
12:40 GMT

UAE's current account surplus quadrupled to Dh112.7 billion, $30.7bn in 2011 as both crude and non-oil exports soared.

Those who have to be in Lebanon should be in contact with the UAE Embassy and they are urged to exit the country as soon as possible
Gulf states issue travel warning on Lebanon summering
12:23 GMT

The UAE, Qatar and Bahrain urged their citizens to avoid travel to Lebanon, where clashes linked to the conflict in neighbouring Syria have left several people dead.

According to the plan, the Saudi drivers will get a monthly salary of at least SR 5,000
28,000 Saudi cabbies make inroads on migrant dominated career path
12:00 GMT

The Labor Ministry is currently working on a plan to hire as many as 28,000 Saudi job seekers to replace foreigners who dominate the Kingdom’s limousine sector.

The change is part of a new banking law that aims to bolster regulation of the industry and reduce the risk of future banking crises
UAE's new monitor watches over financial services
10:41 GMT

A new agency will have daily oversight of financial services in the biggest shake-up of banking and finance in three decades.

May 17, 2012

Ajman Municipality closed the private university while education officials said that ‘parents are to blame for their students’ plight since they had not checked the university’s status
UAE university's sudden closure leaves students non-the-wiser!
12:51 GMT

Hundreds of students hit by Ajman private university closure. The sudden closure of a private university in Ajman has affected nearly 1,000 students.

The volume of investments in the estates was around $2 billion, 68 per cent of which are by Jordanian business people
Jordan's industrial-estate exports hit $530 million
12:46 GMT

Exports of industrial estates in Jordan reached $530 million during the first three months of this year.

he 44 page publication on the GCC airports performance and future growth trends and projections was released for the Airport Show-2012
UAE+Qatar combined airport capacity reaches 190m
12:37 GMT

The major airports in Dubai, Doha and Abu Dhabi will have a combined annual capacity of 190 million passengers in 2015.

Lebanese Ministry of Finance said that payments of salaries, wages and related benefits have been gradually increasing since 2008
Cost of hiring staff escalates from the previous year
12:28 GMT

Salaries, wages and related benefits payments which mainly include the cost of basic salaries, indemnities and allowances, increased by LL464 billion.

Dubai shares ended at a 15-week low yesterday and most other Gulf markets retreated, as slipping oil prices
Bahrain profits as Gulf markets slip
11:36 GMT

The Bahrain All-Share Index yesterday closed at 1,156.31 points, marking an increase of 0.46 points above its previous closing.

Iraqi Airways is among the oldest airlines in the region but has no planes of its own after it avoided paying hundreds of millions of dollars of debt owed to Kuwait
Iraqi Airways is back
11:23 GMT

Iraq's national carrier is planning to re-emerge as a major regional airline, with the first of 40 Boeing aircraft set to be delivered next year.

Under the final agreement, salaries of the agency’s workers will be increased by JD50 retroactively from the beginning of this year
UNRWA pay rise: staff gain JOD100
11:11 GMT

A dispute between UNRWA workers and the agency came to a final close on Wednesday after the two parties reached an agreement.

Annual consumer price growth in the $360 billion economy, the second largest among Arab countries
UAE inflation skyrockets to 9-month peak
11:03 GMT

Inflation in the United Arab Emirates edged up to a nine-month high of 0.8 per cent on an annual basis in April.

Transport unions are urging the government should start clamping down on illegal public transport vehicles and those using forged and multiple plates
Lebanon's transport unions unwavering from strike action
10:49 GMT

Lebanon’s transport unions reconfirmed Wednesday a strike scheduled for May 24, reiterating demands for price ceilings on gasoline and diesel.

The rise was attributed to the increasing number of visitors from Libya, Iraq, the US and Saudi Arabia
Jordan revels in tourism upswing of 10.5% by end of April
10:41 GMT

Jordanian Tourism revenues in the first four months of this year stood at JD776.7 million, an increase of 10.5 per cent compared to JD703 million.

May 16, 2012

GECF comprises 11 of the world's leading natural gas producers - Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela
UAE to merge with 'Gas OPEC'
13:31 GMT

The UAE has won cabinet approval to join the Gas Exporting Countries Forum (GECF), an intergovernmental organization of the world's leading gas exporters.

A single visa can speed things up in the cruise business as ships use Dubai as the hub to sail to other countries in the region such as Oman, Qatar, Bahrain and Kuwait
Gulf introduces single visa sailing cards for GCC members
12:36 GMT

The plan for a single visa system for the GCC countries for cruise passengers, awaits to be offered as early as September.