Main headlines

August 11, 2014

In 2007, Hyundai Engineering & Construction and Doosan Engineering won the 1.8 billion dinar ($1.5 billion) contract to build and operate the power plant,
00:12 GMT

Libya is facing the worst violence since the fall of former ruler Muammar Gaddafi three years ago

August 10, 2014

They also accuse the bank of performing financial services for people affiliated with Hamas and other designated foreign terrorist organisations.
23:47 GMT

Arab Bank, Jordan’s largest financial institution with branches throughout the Middle East and elsewhere in the world, denied the charges, saying it would exercise all legal options to disprove the accusations.

"This process should be gradual as one cannot change a 30- year-old policy in three months. The process should be a step at a time," Ahmed said.
14:18 GMT

According to Ahmed, future generations of Jordanians will have to shoulder the burden of indebtedness arising from the budget deficit.

Meanwhile, an aviation analyst termed the Etihad’s deal with Alitalia risky and said Abu Dhabi-based airline will have to go all-out to make this deal work to achieve desire results by 2017.
04:55 GMT

Etihad Airways on Friday signed a €1.76 billion deal to acquire 49 per cent stake in loss-making Alitalia.

The tech rumour mill is rife with talk about two new Apple iPhones set to be launched within a few weeks.
04:55 GMT

The tech rumour mill is rife with talk about two new Apple iPhones set to be launched within a few weeks.

Growth forecasts for seven countries in the Middle East and North Africa might be too rosy and consequently misleading according a World Bank report.
04:55 GMT

Government as well as international institution predictions made in 2010 for 2011-13 also proved to be overoptimistic.

August 8, 2014

Ezz is the former chairman of Ezz Steel and has a 55 percent stake in EZDK, the largest steel complex in the Middle East.
20:30 GMT

Over the last three years, Ezz has received cumulative sentences of 60 years in prison, but his appeals have all been accepted and he is currently facing retrials.

Hidden, or indirect, taxes for goods including food, gasoline, cars and cellular phones in Turkey have reached record-breaking levels based on European standards,
14:20 GMT

The union's research indicated that hidden taxes on such goods in Turkey has reached 69 percent of total taxes, a figure which has nearly doubled over the last three decades.

August 7, 2014

The 2016 Olympic Games will be held in Rio de Janeiro, Brazil, while Tokyo, Japan won the rights to host the 2020 games.
14:47 GMT

Dubai is planning to submit a bid to host the Olympic Games within the next few years, a senior official has said.

Addressing a news conference at his residence in the Saudi port city of Jiddah, Hariri gave details about the grant, which he earlier announced had been provided by King Abdullah.
11:13 GMT

Former Prime Minister Saad Hariri said Wednesday that Lebanon was being subject to an unprecedented terrorist attack, adding that the $1 billion Saudi grant was meant to help the country’s security apparatuses crush terrorism.

The latest US country report on terrorism said there were increased reports in 2013 of Kuwait-based private individuals funnelling charitable donations.
11:03 GMT

The Islamic Affairs Ministry announced the same day it was suspending all types of fund-raising inside mosques, including for the “Syrian people”.

“The project is also expected to improve the macroeconomic indicators as it raises the canal’s revenues to $13 billion annually from $5 billion,” said Fathy.
“Investors expect an economic boom in most sectors when the Suez Canal industrial hub project sees the light,”
04:55 GMT

Egyptian stocks rallied on Monday as details of the Suez Canal industrial hub mega project started to unfold, analysts said

August 6, 2014


Infiniti’s strong line-up of SUVs contributed to over 67 percent of total sales volume, with QX60 and QX70 remaining Infiniti’s core models.
23:13 GMT

Infiniti announced that its sales figures have increased to 1,524 units across the Middle East in the first quarter of Financial Year 2014

The goal of labor policy is full employment of the Saudi workforce, the report stated.
12:19 GMT

“Carrying out employment strategy requires providing the necessary resources to carry out mechanisms within a specific timeframe,” the ministry said.

While the hoteliers are losing out on business, as Coca Cola and Pepsi are popular beverages, they expressed no qualms over the loss of revenue.
12:02 GMT

A longer list of boycotted products – including garment, chocolates and beauty products – are being share via social networking sites Facebook and Twitter.