February 25, 2013
The GCC region witnessed a moderate three per cent inflation in consumer prices during last year, down from 3.7 per cent in 2011, according to QNB Group analysis.
Jordan and Iraq are expected to sign commercial and legal agreements this month to build a double pipeline to supply the Kingdom with crude oil and natural gas. The oil deal promise to be the biggest inter-Arab business deal in 50 years.
February 24, 2013
What goes up must come down? Saudi Arabia's per capita income rose 27.2 percent from 2010 to 2011 following an increase of 17.1 percent from 2009 to 2010, according to a report by the Saudi Arabian Monetary Agency (SAMA). But inflation may find earners hitting a snag if the economy does not diversify.
The country's minister of minerals, Kamal Abdel-Latif, said this week that he suspects Sudan's gold production will jump to 150 tonnes, thereby generating $8 billion in revenues.
A UAE man was caught allegedly consuming the snacks he pretended to shop for at a local grocery store in one of Abu Dhabi's malls. The 'paper chase' didn't end there as the crook tried to swallow the fraudulent bank notes on his person.
Coming out of denial, Iran's President admits to facing economic difficulties in a rare televised acknowledgement.
Russia's largest independent natural gas producer, Novatek, decided to exit the Egyptian market and end its production activities due to the country's political instability and the deteriorating security conditions, says Anatoliy Chomachka, a diplomatic representative at the Russian embassy in Cairo.
February 21, 2013
Google has revealed for the first time what view users will get through its 'Project Glass' wearable computer.
Israel has awarded its first license to drill for oil on the occupied Golan Heights to a US energy company, industry sources said on Thursday.
Yemen’s Ministry of Electricity started installing new prepaid electricity meters for residents last week, as well as government institutions, as an alternative for old meters where customers were billed later.
Trade between Qatar and India is booming, increasing by $1.2 billion between 2005 and 2012.
Jordan's Energy Minister on Wednesday unveiled plans for the country’s first private sector renewable energy projects as part of efforts to ease the Kingdom’s ongoing energy crunch.
Lebanon's Central Bank has sold $2.2 billion of sovereign Eurobonds, the Governor Riad Salemeh said yesterday.
Jordan’s sole potash producer on Wednesday denied that the company was in talks with Israeli firms on importing natural gas.
Egypt, the world largest importer of wheat, has enough supplies to last 126 days, the Cabinet announced on Wednesday.