Main headlines

July 23, 2013

UAE Central Bank had approved the issue more denominations of coins to meet demand
12:55 GMT

Cash deposits in the Central Bank of the UAE amounted to Dh79.9 billion while cash withdrawals were Dh82.1 billion by end of May, leading to coins problem in the market.

Qatar’s initial talks to buy DEA are unlikely to proceed quickly
10:55 GMT

A state-owned Qatari entity has held initial talks with German utility RWE about buying its DEA oil and gas exploration and production unit.

Ministry of Interior has a work plan to deal with investors’ needs and to meet their requirements
09:55 GMT

Interior Minister met a delegation comprising representatives from the Iraqi Business Council and discussed ways to increase economic cooperation between the two countries.

Total amount of investment in internet and technology in UAE for the years 2011 and 2012 exceeded $74 million
08:55 GMT

The MENA region is thriving amid a high-tech revolution and the UAE is at the heart of the drive to innovation.

Iran says the nuclear program is for generating power and medical devices
06:37 GMT

The 42-inch 220 kilometer gas pipeline will pass through Iraq’s Mansuriyah gas field near the Iranian border

Iran produced 7.327 million tons of steel in the first six months of 2013
06:14 GMT

Iran produced 1.25 million tons of crude steel last month, showing a two-percent increase as compared with June 2012.

July 22, 2013

Iraq’s banking sector is no mean feat
15:55 GMT

Interest by Citibank and Standard Chartered to expand into Iraq highlights the vast potential of the country’s banking sector, but the experience of a global rival points to the many pitfalls they must navigate.

Turkish decision to suspend the shipping lines with Egypt should not have any impact on other major lines
12:55 GMT

Turkey has decided to halt its navigational lines which transfer its exports to Saudi Arabia and other Gulf countries through Egypt due to financial constraints.

Iran would send 25 million cubic meters of gas daily to Iraq according to the agreement
10:55 GMT

Iranian Deputy Oil Minister Javad Ouji announced Iran and Iraq will sign a gas deal on Sunday, based on which Tehran would start pumping gas to Baghdad by the next one and half month.

The World Bank said it is fully in compliance with international and U.N. sanctions against Iran
09:55 GMT

The World Bank said Thursday it was placing Iran’s loans in nonperforming status as Tehran had not paid back any of the money it owed for more than six months.

The World Bank said it is fully in compliance with international and U.N. sanctions against Iran
09:55 GMT

The World Bank said Thursday it was placing Iran’s loans in nonperforming status as Tehran had not paid back any of the money it owed for more than six months.

South Sudan might collapse without oil, the main source for the budget apart from foreign grants
08:55 GMT

South Sudan plans to sell 6.4 million barrels of oil worth $300 million before shutting down its entire production by the end of July.

Egypt’s finances worsened in the first five months of 2013
07:55 GMT

Egypt’s central bank has received $2 billion in Saudi funds.

Average construction labour costs grew by 15 per cent in June compared with May 2013, reflecting rises in wages for most trades
06:28 GMT

Statistics Centre – Abu Dhabi, or Scad, on Saturday issued its monthly report on the prices of building materials for the month of June and the second quarter of 2013.

The virus could seriously impact the tourism industry once it reaches epidemic proportions
05:56 GMT

The tourism sector has experienced a subdued demand in July.