Recent

Universities in Beirut will each get one station of 12 bicycles, with the potential to add another if scheme proves popular.  (Facebook/Jawad Sbeity)
January 19, 2017 - 13:00 GMT
Bike 4 All, Beirut by Bike and the Municipality of Beirut have teamed up for the launch of a new bike sharing scheme originally aimed at university students.
Only the UAE and Kuwait are set to post surpluses by 2021, and analysts expect all GCC countries to remain in deficit in 2017. (File photo)
January 19, 2017 - 12:00 GMT
Analysts expect most GCC states to press ahead with substantial budgetary cuts from 30 per cent upwards in order to maintain balanced budgets regardless of signs of a gradual recovery in oil prices.
The State of the Future report was prepared in collaboration with 21 experts from organizations such as NASA, NYU Langone Medical Center, MIT, ConsenSys, and the SENS Research Foundation.  (Shutterstock)
January 19, 2017 - 11:00 GMT
UAE minister Mohammed bin Abdullah Al Gergawi released 'The State of the Future' report at Davos, containing forecasts in seven strategic sectors prepared in collaboration with international experts.
Yesterday’s protest followed a three-day strike over a new payroll system by national oil and gas workers last April. (AFP/File)
January 19, 2017 - 10:00 GMT
Kuwait Oil Company's union members are protesting at company headquarters over plans to privatise areas related to oil services in the coming two to three years.
The most pressing changes required include enhancing the efficiency of the labor market, to allow workers to quickly move, at low cost, from one job to another. (AFP/Fabrice Coffrini)
January 19, 2017 - 09:00 GMT
The report, “Accelerating Economic Reforms in the Middle East and North Africa,” outlines actionable policy recommendations across six priority areas.
Saudi Arabia’s Energy Minister Khalid al Falih at the World Future Energy Summit in Abu Dhabi.  (AFP/Nezar Balout)
January 19, 2017 - 08:00 GMT
Saudi Arabia’s Energy Minister Khalid al Falih believes that the oil market is moving in the right direction so as not to need an extension of the oil production cuts beyond June.
Cycling is one of the fastest growing activities in Dubai, with an ever-increasing number of events, initiatives and groups promoting the sport. (Shutterstock/Philip Lange)
January 19, 2017 - 07:00 GMT
The Nakheel Communities Cycling Masterplan by the Dubai developer will see an investment of $40.8 million to support the surge in cycling's popularity across the emirate.
Render of the Central Bank of Iraq, designed by the late Iraqi-born architect Zaha Hadid. (Zaha Hadid Architects)
January 19, 2017 - 06:00 GMT
The US guarantee is part of an international assistance package and an IMF supported reform program, and is expected to help Iraq access to low-cost financial tools to adopt institutional reforms and achieve economic stability.
Souq is now seeking other potential investors and is reportedly negotiating with mall operator Majid Al Futtaim.  (Unboxaholics.com)
January 19, 2017 - 05:00 GMT
Global e-commerce retailer Amazon and India’s Flipkart are no longer in the running to acquire Souq.com, which is currently the Middle East’s biggest e-commerce player.
Outgoing US Vice President Joe Biden addresses the assembly on the second day of the World Economic Forum, on January 18, 2017 in Davos. (AFP/Fabrice Coffrini)
January 18, 2017 - 13:30 GMT
As the World Economic Forum 2017 gathers pace in Davos, we look at two specific economic initiatives related to the MENA region.
Egypt's currency devaluation has increased costs for the construction industry, negatively impacting developers’ cash flows.  (AFP/File)
January 18, 2017 - 12:30 GMT
The rapid devaluation of Egypt's currency has resulted in volatility, uncertainty and delayed decisions by both investors and occupants.
There are at least 10 known hot springs in Saudi Arabia.  (Shutterstock)
January 18, 2017 - 11:30 GMT
In order to meet demand and diversify Saudi Arabia's energy mix, the kingdom is eyeing potential geothermal sites in Al Khouba area of the southernwestern province of Jizan.
Property analysts say that beach closures aren't new to Dubai, as new projects are being proposed, constantly changing the emirate's skylines.  (Shutterstock)
January 18, 2017 - 10:25 GMT
In an increasingly common occurrence, Dubai residents have found their direct access to the beach blocked, this time by Nakheel's new waterfront development.
Thousands of importers have been caught out by the float, facing ballooning dollar debts after they had opened dollar credit-lines with banks.   (AFP/Patrick Baz)
January 18, 2017 - 09:00 GMT
Egypt's Finance Ministry fixed the customs exchange rate at 18.5 pounds per dollar until the end of February and said it will review the rate each month.
Saudi Aramco CEO Amin Nasser. (AFP/Ozan Kose)
January 18, 2017 - 08:00 GMT
Speaking Tuesday at the World Economic Forum in Davos, Saudi Aramco CEO Amin Nasser announced that $25 trillion would need to be invested over the 25 years on new oil capacity to meet rising demand.
Lufthansa and Etihad last month signed a flight code-sharing deal after Lufthansa agreed to lease 38 crewed planes from airberlin, which is part-owned by Etihad. (Wikimedia Commons)
January 18, 2017 - 07:00 GMT
Italian newspaper Il Messaggero had reported that executives were mulling the possibility of Etihad buying a 30 to 40 percent stake in Lufthansa.