Main headlines

October 27, 2013

Saudi investments were in the second place after those from the UAE during Q4 at $62.2 million.
11:52 GMT

Investments of the European Union (EU) countries topped the overall foreign investments in Egypt in Q4 which grew by 59 percent to $1.51 billion compared to $954.9 million in Q3.

The future aviation super hub was originally slated to open in mid-2009 but after failing to secure an operating license from the General Civil Aviation Authority (GCAA), Dubai Airports pushed back the launch date.
11:05 GMT

Dubai’s highly anticipated second airport, Al Maktoum International (DWC), opens to passenger traffic on Sunday - four years behind schedule.

The London-based bank can help increase Jordanian businesses’ use of renewable energy.Describing the Kingdom as a role model for social and economic reform in the region, Harmgart added that Jordan can become a leader in terms of innovation and economic transition.
09:20 GMT

The bank’s activities in Jordan will focus on overall economic growth, developing the private sector, promoting energy efficiency, supporting renewable energy, and improving infrastructure and municipal services

Ithmaar Bank has provided nearly $450 million for the project that brings together public and private entities to deliver social and affordable housing solutions.
08:14 GMT

It is the largest housing project ever to be developed in Bahrain in partnership with the private sector.

October 24, 2013

He said that the committee in charge of studying the problem of laid off workers at the time of the global economic crisis found that the number of Kuwaiti citizens working for the private sector, ostensibly affected by the crisis, was not as high as once thought.
13:26 GMT

Up to KD 18.5 million have been paid out to citizens laid off from jobs in the private sector, covering the period from August 2008 to October 2013

The total cost of building the common network is estimated at $10.5 billion – $3 billion for desalination plant construction and $7.5 billion for pipelines, pumping stations and reservoirs.
12:58 GMT

The total cost of building the common network is estimated at $10.5 billion – $3 billion for desalination plant construction and $7.5 billion for pipelines, pumping stations and reservoirs.

Rocket Internet sees the app being connected to 60,000 to 70,000 cars in Saudi Arabia, and “tens of thousands” in the UAE.
12:04 GMT

The Easy Taxi application will launch in Saudi Arabia this month, followed by a rollout in other cities in the Arabian Gulf, Jordan and Lebanon.

The cost of capital projects that need to be implemented to integrate Syrian refugees for a three- to five-year stay is estimated at around $870 million.
10:34 GMT

“The heavy presence of Syrians in the local market is the direct reason behind the increase in unemployment rates this year,” Saif said.

Would you consider Qatar a tourist destination?
05:30 GMT

“Details of the ‘Qatar Tourism Sector Strategy 2030’ will be disclosed either in November or December,” QTA chairman Issa bin Mohamed al- Mohannadi said yesterday.

"There is a lot of potential for insurance firms to provide and strengthen the professional liability insurance products and to cater them to the needs and requirements of the different industries," said the report.
05:30 GMT

Arab insurance premiums have seen good growth reaching $27 billion last year, of which the GCC region's share of the total was $16.5 billion, said a report citing a senior banking official.

October 23, 2013

Yahoo, which competes with Google and Facebook for internet users, said Cairo has been a “good home to Yahoo,” and vowed to treat Cairo employees with respect and fairness through this transition.
15:25 GMT

Internet giant Yahoo! Inc. plans to close its Cairo office at the end of this year, while pledges its commitment to the Middle East and Africa (MEA) audience, the US firm said in a statement issued Wednesday.

The mall includes mid to premium retail, dining and entertainment outlets and houses over 160 shops, 20 dining outlets, an eight-screen cinema and several external landscaped terraces.
13:45 GMT

Mohammed Al Mubarak, deputy CEO at Aldar Properties said, “The World Trade Center Mall completes the transformation of Abu Dhabi’s historic Central Market area, which was – and now remains – the heart of shopping in the capital.”

“The expatriate influx has also driven further demand for serviced apartments, where occupancy levels have increased from long-stay guests,” added Wolfe.
13:28 GMT

Average residential rental in Doha has risen 16 per cent year-on-year due to increased demand from expatriate inflow and a lack of supply in the market, said a report.

Bahrain landline subscriptions, while in decline due to the younger generation's reliance on mobile technology, are also the cheapest in the region according to the report.
13:14 GMT

A spokeswoman for Bahrain's Telecommunications Regulatory Authority welcomed the report's findings, describing it as a "real accomplishment for Bahrain". A spokeswoman for Bahrain's Telecommunications Regulatory Authority welcomed the report's findings, describing it as a "real accomplishment for Bahrain".

President Hassan Rouhani inherited an economy in recession as international sanctions against the country weakened its currency and accelerated inflation to about 40 percent in September.
11:03 GMT

Meanwhile, Iranian First Vice President Es’haq Jahangiri has said that bad loans of the Iranian banking system amount to 700 trillion rials (about $28 billion