Main headlines

November 5, 2014

Under the contract, a new terminal for Kuwait International Airport and a new runway will be built in addition to around 30 gates to boost the facility's capacity.
13:49 GMT

Kuwait on Monday awarded a contract worth 1.4-billion dinar ($4.8 billion) to a local company for the expansion of the country's only international airport.

About 20,000 civil servants in the Gaza Strip went on strike Tuesday to protest the Palestinian unity government's refusal to pay military and security employees of Hamas.
04:55 GMT

All ministries and other institutions run by Hamas in Gaza were shut and gated, except for schools, after the walkout by mostly administrative workers.

Between 2004 and 2013, the volume of trade increased by 21%, edging up from $41m to $165m.
04:55 GMT

The minister pointed out that the targeted trade volume between both countries is over $5bn.

November 4, 2014

 The initial public offering by the NCB, which was hoping to raise $6 billion, is one of the largest in the world this year and the biggest in the kingdom's history.
17:29 GMT

A share offer by Saudi Arabia's National Commercial Bank was 16 times oversubscribed late Sunday, in what one financial analyst called "the mother of all IPOs".

Kufpec Chief Executive Officer Nawaf Saud Al-Nasir said in a statement Saturday the deal came “as a result of the recently enacted energy reform in Mexico.
17:08 GMT

A Kuwaiti exploration company said it signed a memorandum of understanding to work alongside its counterparts in the Mexican energy sector.

Between 1980 and 2013, Saudi Arabia’s life expectancy at birth increased by 12.5 years
16:55 GMT

Saudi Arabia has achieved higher than the global average in the development achieved in the education sector, according to the Human Development Report for 2014

UAE firms saw output growth accelerate to an all-time high, with the subindex coming in at 66.1, up from 63.2 in September.
14:05 GMT

“The performance is all the more impressive given the decline in oil prices over the same period, and the continued downturn in emerging markets elsewhere.”

Non-Jordanian investors registered 4,263 buying transactions, 2,899 for apartments and 1,364 for lands.
13:57 GMT

Apartment transactions value reached JD256.4 million constituting 64 per cent of the total transactions.


Gold failed to find support from the physical markets in top consuming region Asia.
13:37 GMT

Gold and silver extended their losing streak to a fourth session on Monday to trade near their lowest in more than four years

Separate data published on Monday showed that activity in the eurozone's manufacturing sector nudged higher in October as businesses cut prices.
05:55 GMT

Oil prices fell Monday, hit by a strengthening dollar as dealers digested global manufacturing data for clues about demand growth.

"The method of privatisation will be determined with the advisor," one of the banking sources told Reuters.
04:55 GMT

Turkey is to revive plans to privatise two bridges across the Bosphorus Strait in Istanbul and some motorways and aims to start the process by the first quarter of 2015,

November 3, 2014

There were 51,753 Saudis who visited Egypt in August - an increase of 254.3 percent compared with August 2013.
06:55 GMT

The Ministry of Tourism and the Egyptian Tourism Authority (ETA) have focused on attracting Arab and GCC tourists to Egypt through the Wahashtouna campaign that was launched earlier this year.

Credit cards represent only 20% of total financial transactions, while payment upon delivery occupies the lion’s share of total online purchases.
05:55 GMT

A recent report issued by PayFort, an institution specialising in online payment solutions, said that only 7% of Egyptians have bank accounts.

Development of the part jointly owned with the Saudis has been frozen for a year, according to Al-Rai.
05:55 GMT

The row comes a month after production at the offshore Khafji oilfield in a neutral zone between the two Arab states was halted last month.

November 2, 2014

Since the beginning of 2014 and up until September, the year-to-date passenger numbers soared to 5.55 million.
22:34 GMT

Queen Alia International Airport (QAIA) in Amman, Jordan, achieved a record-breaking feat by surpassing the 600,000 passenger traffic benchmar for the first time in the airport’s history