Main headlines

July 25, 2013

Lebanese industrialists continue to provide alternative goods to Syrian products after many industries were brought to a halt or cut back production as a result of the turmoil
14:55 GMT

Syrian demand for Lebanese goods has substantially increased recently, driving up exports by 6 percent in the first half of the year and industrial goods by 13 percent up to April.

Oil was the driver of the economy and source for dollars needed for imports
14:55 GMT

Sudan’s currency has fallen to a record low against the dollar on the black market since South Sudan started reducing cross-border oil flows in a row over alleged support for rebels, dealers said.

The QE index is approaching major psychological resistance at 10,000 points
12:55 GMT

Qatari stocks gained 0.2% to 9,672 points to hit a fresh 58-month high yesterday.

Egypt has asked Kuwait to include Kuwaiti petroleum products, including 70,000 tonnes of diesel and jet fuel worth $60-65 million, as part of the aid
11:55 GMT

Egypt's state gas company EGAS has begun talks to try to raise natural gas prices and work out how industrial consumers can pay producers directly, two newspapers reported on Wednesday.

Transactional activity improved in Abu Dhabi over the last few months, with purchasers encouraged by a wider choice of available properties
10:55 GMT

Abu Dhabi will see existing residential supply augmented by the handover of 3,500 units and a rush of standalone tower projects during the second half of the year, offering mid-level investors a wide choice of properties.

Iran plans to allocate some facilities to enhancing the production capacity of the country’s downstream petrochemical, polymer and plastic industries
09:55 GMT

The main objective behind the plan is to reduce the export of raw petrochemical products and to create added value and new jobs.

Foreign investments in Iran rose by 45 percent in the past Iranian calendar year, which ended on March 20, compared to its preceding year
07:55 GMT

Iran has approved $540 million worth of new foreign investment plans.

Dubai benchmark stock index closed 1.8 per cent lower at 2,515.45
06:36 GMT

UAE markets fell on Wednesday with Dubai's retreat led by real estate and mortgage provider stocks, as investors indulged in profit taking.

July 24, 2013

Currently 22 million litters of gasoline conforming to euro 4 and euro 5 standards is being produced in the country
16:55 GMT

Iran's average gasoline consumption stood at 62.7 million liters per day in the week to July 19, the IRNA News Agency reported.

Around 35,000 barrels of 45,000 barrels of oil extracted in Turkey every day come from the south-eastern provinces
14:55 GMT

Turkey intends to invest up to 2 billion lira in energy projects in the south-eastern provinces of the country in the near future.

Gold sales began to slip worldwide in 2011
13:55 GMT

Local shop owners have said sales have increased by up to 25 percent from just a month ago after a drop in gold prices in the Kingdom and around the world.

Hotel room capacity in Oman is forecast to grow at a compound annual growth rate of 5.3 per cent over the period 2011 to 2016
12:55 GMT

The outlook for new resorts and hotels in Oman looks promising with over 3,000 hotel rooms due for completion by the end of 2014.

The price of vegetables and fruits has tripled during Ramadan
11:49 GMT

The price of vegetables and fruits has tripled during Ramadan. This happens yearly, as demand reportedly increases by up to 15 percent.

In Abu Dhabi, shares worth a total of Dh387.59 million were traded
09:42 GMT

The UAE share markets continued to rise on Tuesday in line with the improved global risk sentiments and in anticipation of strong fiscal second quarter earnings of locally-listed blue-chip companies.

The average daily rent, pegged at $204 last year, is expected to grow to $227 by 2016
08:55 GMT

The hospitality industry in the GCC, home to world-class hotels and recreation facilities, is poised to grow at 6.93 per cent to reach $24.92 billion by 2016, a report issued by Kuwait Financial Centre yesterday said.