Main headlines

December 3, 2013

Abu Dhabi tourism is on the rise all around, with India representing the largest overseas source market. Nearly 150,000 individuals from India checked into Abu Dhabi hotels in the first 10 months of 2013 (Courtesy of Indian News and Times)
14:37 GMT

More than 2.2 million people checked into Abu Dhabi's 148 hotels during the first 10 months of 2013, representing a record breaking 26 percent increase in hotel occupancy in UAE's second largest city.

GCC ministers met late last month in Kuwait and are scheduled to return to Kuwait City December 10 to hold their annual 2-day summit (Yasser Al Zayyat/AFP)
13:37 GMT

Reports from Monday announced that 4 Gulf countries were expected to release a common GCC currency by the end of the year. However, the Gulf Monetary Council dismissed media reports Tuesday, saying that no common currency is scheduled to be released anytime soon.

Qatar had originally given Egypt $7.5 billion when former president Mohammed Morsi was in office, but since his oust, relations between Qatar and Egypt have deteriorated dramatically (Reuters)
13:18 GMT

Egypt returned $500 million to Qatar December 2 after the Gulf peninsula "refused" to renew a former deposit it had made in Egypt's central bank. The December 2 transfer represents the second deposit return to Doha in the last month.

Previously, Iran has dealt with foreign companies through “buybacks”. According to sources, the meetings in London will allow Iran to present the findings of a review of these contractual terms.
10:53 GMT

The roadshow will involve discussions over the nature of contracts that the Islamic Republic is willing to offer in return for investment to drill new wells.

The Ministry of Labor has raided several women’s beauty salons since Nov. 4, a ministry official confirmed recently.
10:41 GMT

In order to survive, the province needs at least 7,000 Saudi workers for the region's 4,000 salons and beauty shops, she said.

The Economic Freedom of the Arab World report compares and ranks Arab nations in five areas of economic freedom. (Image credit: Shutterstock)
05:12 GMT

The annual Economic Freedom of the Arab World report published by the Fraser Institute has ranked Arab nations in terms of economic freedom.

NBK cautioned that over the next year or so, the trade balance could shrink a little: oil markets could loosen, putting downward pressure on prices or encouraging OPEC
03:55 GMT

The NBK said the near-term outlook for exports looked solid

Qatar clinched the award among other top contenders comprising Abu Dhabi, Auckland, Beijing, Dubai, Durban, London, Melbourne, New Orleans, Rio de Janerio, Seoul, Tokyo and Vancouver.
03:55 GMT

QTA representatives receiving the Qatar’s World’s Leading Sports Tourism Destination award at the WTA 2013

December 2, 2013

The Iranian administration has set oil price to $100 per barrel in the next year’s national budget bill, IRNA quoted Iranian MP Ja’far Qaderi as saying on Sunday.
14:22 GMT

The government revenues have forecasted to reach 800 trillion rials (about $32.1 billion), he said

 A lawsuit, with details still vague, by a Qatari company against the Social Security Investment Fund (SSIF) alleging it bought the fund’s stake in The Housing Bank for Trade and Finance was a hot topic of speculation in Jordan Sunday.
13:55 GMT

Describing the issue as “strange and shocking”, Odwan insisted that the alleged deal is a fraud.

Belounis said he had been unable to obtain an exit visa which has to be applied for by his employers under the kafala, or sponsorship, system.
13:43 GMT

Qatar has been told by the world players’ union FIFPro to abolish the kafala system for footballers and respect international standards for their contracts.

Saudi Arabia will open the new shipping line between Jeddah and Casablanca in an effort to boost commercial ties between the two countries (Courtesy of Wikimedia)
11:00 GMT

Trade exchange between Saudi Arabia and Morocco will jump to $7 billion by early 2014.

Bahrain, Kuwait, Qatar and Saudi Arabia are planning to peg the common GCC currency to the dollar (File Archive/Shutterstock)
09:02 GMT

Bahrain, Kuwait, Qatar and Saudi Arabia are planning to release and use a common currency by the end of December, according to reports in Manama from Sunday.

Saudi aid will help boost Egyptian construction, tourism and investment sectors. (Image credit: Shutterstock)
07:46 GMT

A senior official at the Ministry of Finance said Saudi Arabia would offer a new aid package to Egypt worth US$5 billion.

Etihad Airways has claimed the top awards at the World Travel event for five years in a row (File Archive)
07:45 GMT

For the fifth year in a row, Etihad Airways received the titles of "World's Leading Airline," "World's Leading First Class," and "World's Leading Airline Crew," at this year's World Travel Awards.