Main headlines

October 31, 2013

The world's largest social network said Wednesday that it earned $425 million, or 17 cents per share. That's up from a loss of $59 million, or 2 cents per share, in the same period a year ago.
09:10 GMT

Facebook's stock is soaring after the company reported a 60 percent revenue increase in the third quarter, surpassing Wall Street's expectations for the second quarter in a row.

industrial cities in Bahrain have helped in attracting foreign investments and achieving concrete growth throughout the last five years (Courtesy of Arabian Business)
07:20 GMT

Inflows of foreign direct investment into Bahrain reached a tumultuous $891 million last year, representing a fourteen percent increase from 2011's $781 million figure.

WIEF's decision to host the 10th round of the forum in Dubai is a positive sign that global markets look at UAE's biggest city as a hub for Islamic economy activities (Courtesy of WIEF)
06:19 GMT

Dubai has been selected to host the 10th session of the World Islamic Economic Forum in 2014, representing one of the largest gatherings to share knowledge and best practices in Islamic economy.

October 30, 2013

Iran was one of the top five suppliers of crude oil to China this year and overall production increased, the Organization of Petroleum Exporting Countries said in its monthly market report.
13:42 GMT

In this line, Iranian parliament speaker Ali Larijani traveled to China on Tuesday to discuss mechanisms for paying the debt.

The last Public Transport Day saw a doubling of ridership to 12 per cent from six per cent the year before that.
12:35 GMT

Held in cooperation with the Dubai Health Authority, interested metro riders at the Dubai Healthcare City and Airport Terminal 3 stations can have their blood, cholesterol levels, blood pressure, body weight and height checked.

While Emirates acknowledges the incident, the airline is refuting reports that passengers were delayed for nearly five hours.
11:36 GMT

An Emirates A380 flight traveling from New York JFK-to-Dubai was diverted to Kuwait on Saturday due to a “technical issue", an Emirates spokesperson said.

"This new system does not include any guidelines for banks to provide a pragmatic and practical non-resident mortgage, which we believe is required to attract a more international investor base,” said Ziad El Chaar, managing director, Damac Properties.
10:05 GMT

New bank lending norms an attempt to ward off the pitfalls of uncontrolled lending to property buyers.

Pictured: Marley and Lea Manga, aged 13 and 10, respectively. (Photo Credit: Gulf Business)
09:41 GMT

Patrick Manga, a relative of French tennis great Yannick Noah, says he is even willing to relocate to Qatar if Marley, 13, and Lea, 10, get the backing of an organisation willing to bear their training and tournament expenses.

Having initial plans for two-hub operations in Kuwait and Dubai, Jazeera today has focused its operations mainly on its home base.
09:23 GMT

Spelling out Jazeera’s success recipe, Boodai says, “We do not overload ourselves with huge capacities. We do not order large numbers of aircraft. We provide the market with just the right size of capacity that is required. This proved to be a very successful recipe.”

The loan guarantees were announced during US President Barack Obama’s visit to Jordan in March, when he also announced a $200 million in additional aid for 2013.
08:29 GMT

The bonds, carrying an interest rate of 2.503 per cent and set to mature in 2020, were oversubscribed by 180 per cent as demand exceeded $2.20 billion.

The inauguration of the ambitious project that has cost an estimated three billion euros coincides with the 90th anniversary of the founding of modern Turkey.
08:10 GMT

The idea was first floated by Ottoman sultan Abdoul Medjid in 1860 but technical equipment at the time was not good enough to take the project further.

Oil Minister Bijan Zanganeh ordered a "widespread review" of the oil contract process shortly after he took office in August in an effort to revive investment in Iran's oil sector (Courtesy of Press TV)
07:11 GMT

Iran's oil ministry will produce a new framework for contract agreements, including oil production sharing, within the next six months to encourage the return of foreign energy investment.

The proposed railway will link Oman to Kuwait via United Arab Emirates, Qatar, Bahrain and Saudi Arabia by 2018 (Courtesy of Arabian Business)
04:00 GMT

The construction of a $15.5 billion rail network project connecting six Gulf Arab states will commence late next year.

October 29, 2013

While there are signs of stabilisation in certain sectors, the market continues to be challenged by political unrest which is impacting economic recovery critical for growth in the Cairo real estate market,
12:30 GMT

Despite the current political situation, the Egyptian real estate market continues to attract interest from leading developers and investors from the UAE who are committed to projects in Cairo, said a report.

Other workers managing baqalas (corner shops) are struggling to sell whatever is left of their merchandise at cheap prices before the grace period ends.
12:19 GMT

With less than a week left to the end of the legalization period that was extended for a further three months in July, foreign laborers in professions such as construction and building are still roaming side streets throughout the Kingdom’s cities, offering services for half the price they usually charge.