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The development will include 2 square kilometres of residential units and create more than 200,000 jobs.  (Ventures on Site)
May 26, 2016 - 06:00 GMT
The joint venture between Mountain View-Sisban and Egypt's Ministry of Housing is one of the first major projects in Egypt based on a public-private partnership.
Earlier this week, Reuters reported that the bank had cut 15 per cent of its workforce of 70 employees. (File photo)
May 26, 2016 - 05:00 GMT
The investment bank released a statement to insist that the slashed jobs do not have a significant impact on the firm's performance and balance sheet.
A study on pollution with the Regional Organization for the Conservation of the Environment of the Red Sea and Gulf of Aden (PERSGA), is expected to be released soon. (Arab News)
May 25, 2016 - 13:00 GMT
Claims by a former environmental professor at King Abdulaziz University over pollution on Jeddah's beaches have been rejected by the head of the Presidency of Meteorology and Environment.
Doha Bank is the worst performing lender on the Qatar Exchange Index, having been hit by negative S&P ratings due to an expected further deterioration in its asset quality. (File photo)
May 25, 2016 - 12:00 GMT
Bank liquidity in the GCC has been hit by a more than 50 per cent slide in crude prices since mid-2014, forcing banks to redefine its business models.
Presenter Nicole Tannoury appears on the list of employees reportedly axed by Al Arabiya. (YouTube)
May 25, 2016 - 10:17 GMT
Saudi Akhbaar24 reports that Al Arabiya has slashed jobs including those of Lebanese presenter Gisele Habib, veteran journalist Nasser al-Sarami, and presenter Nicole Tannoury.
Under Algerian law, foreign channels must broadcast their content from abroad but dozens of satellite television channels have been broadcasting news and social programs from Algeria. (Twitter)



(Twitter)
May 25, 2016 - 09:00 GMT
As the Algerian government takes steps to regulate the media sector, it was revealed that only five out of 60 satellite channels in Algeria are licensed.
The Marasi Business Bay is a 12km waterfront scheme comprising shops, restaurants, a 1,250-berth marina and a park. (Marasi Business Bay)
May 25, 2016 - 08:00 GMT
Dubai Holding has unveiled its seven-year plans for Marasi Business Bay, a new marina development along the Dubai Water Canal.
Allegations about the UAE’s suitability to chair KP from the CSC were “strongly refuted and rejected” by the UAE.   (Shutterstock)
May 25, 2016 - 06:00 GMT
The UAE hosts its first meeting as chair of the 'blood diamond' regulatory group, despite doubts over its suitability to chair were raised by representatives from the Kimberley Process Civil Society Coalition.
Iran continues to stress that it has no plans to freeze the level of its oil production and exports. (File photo)
May 25, 2016 - 05:17 GMT
Ahead of Vienna OPEC meeting, there are signs of slow market recovery, but Qatar's energy minister does not rule out reviving talks of a production freeze.
The vote drew fire from BDS activists on Jordanian social media networks. (File photo)
May 25, 2016 - 04:58 GMT
As Jordan celebrates its Independence Day, a parliamentary vote to permit Israelis to support Jordanian governmental projects has generated controversy.
Bahrain Financial Harbour skyscrapers in Manama. (Shutterstock)
May 24, 2016 - 13:02 GMT
In a shift of policy, Bahrain's sovereign wealth fund plans more investments in international deals in a bid to diversify its economy, Bloomberg reports.
Russia's Sberbank has displayed interest in incorporating a specialized sector for Islam-based banking transactions. (Kiev Post)
May 24, 2016 - 12:31 GMT
Two of the largest Russian banks, led by a proposal from the President of Tartarstan, plan to trial several transactions consistent with Sharia principles.
The opening of the Iranian TV market, a largely untapped market for pay TV business, is providing a wealth of opportunities for the regional operators. (Shutterstock)
May 24, 2016 - 11:00 GMT
Revenues from pay tv have passed the billion-euro mark for the first time, and subscriptions are expected to double in five years following the opening of the Iranian TV market.
The country’s ceding to the union’s demands will be a blow to plans to include up to 20,000 oil workers under its new public payroll system as low oil prices hit coffers. (AFP/File)
May 24, 2016 - 10:00 GMT
Kuwait has yielded to pressure and will offer a oil and gas workers a pay rise, after a three-day strike against proposed benefit cuts crippled production.
The report did not disclose the names of the individuals or groups whose bank accounts were frozen, their nationalities, or amounts. (Shutterstock)
May 24, 2016 - 09:02 GMT
The latest report from Lebanon's Special Investigation Commission reveals the latest in a series of measures to combat terrorism financing and money laundering.
Israel restricts the entry of goods into Gaza out of fears they will be used to build tunnels, but Gazans desperately need cement for reconstruction. (AFP/Said Khatib)
May 24, 2016 - 08:16 GMT
Cement deliveries to private providers in Gaza have resumed after Israel lifts ban that has been in place since April 3.