Main headlines

July 1, 2013

Saudi Arabia will be introduced as a new automotive market hub for the Big Three
08:01 GMT

American automotive giants GM, Chrysler and Ford are considering proposals to set up manufacturing plants in Saudi Arabia, reported Arab News.

June 30, 2013

A Cargolux airplane delivers a shipment (Source: Wikimedia)
14:46 GMT

The cargo shipment airline makes Muscat its 79th destination

Photo used for illustrative purposes (Source: Wikimedia)
14:35 GMT

A number of fraud cases have recently been dealt with by Omani police, among them foreign swindlers selling sand as gold

The ratings agency pointed out that OUIC's competitive position has strengthened the implementation of new business strategies
13:23 GMT

Oman United Insurance got upgraded to a BBB rating by S&P

The Burj Khalifa tower in Dubai
12:38 GMT

The real gross domestic product (GDP) of Dubai during the fourth quarter of 2012 increased by 5.3 per cent relative to the fourth quarter of 2011.

Kuwait banks enjoy rising credit
12:10 GMT

National Bank of Kuwait claims credit growth across many sectors

Food outlets warned against hiking prices during Ramadan
11:43 GMT

The municipalities of Sharjah and Ajman have warned food outlets and manufacturers against hiking prices of essential commodities — a violation of food safety regulations — before and during the holy month of Ramadan.

Consumers rarely leave the house without their mobile or mobiles
06:13 GMT

With many GCC consumers now owning two handsets, mobile advertising represents a golden untapped opportunity.

Businessmen in the the Kingdom make around 30 charter trips a year on an average
06:00 GMT

Saudi Arabia commands 60 percent of the air charter business in the Middle East, according to Private Jet Charter (PJC), one of the world’s largest independent private jet charter brokers.

Media and Publishing was significant performing sectors, advancing 0.66 percent to close the day at 2,829.56.
06:00 GMT

The Saudi stock market was in the red yesterday, dropping slightly by 0.17 percent.

June 27, 2013

Lebanese-Canadian Bank
11:21 GMT

The Lebanese-Canadian Bank has reached a $102 million settlement with the U.S. government over allegations it took part in a scheme to launder drug money and other funds for terrorists.

11:19 GMT

Thirteen companies including Abu Dhabi-based Etisalat and Turkey's Turkcell have expressed interest in buying Dubai Holding's 35 percent stake in Tunisie Telecom, a government official said on Wednesday.

Bank Sohar
11:18 GMT

Fitch Ratings has affirmed Oman-based Bank Sohar's Long-term Issuer Default Rating (IDR) at 'BBB+' with a Stable Outlook.

Zain Building
11:17 GMT

Loss-making telecom operator Zain Saudi has gained more time - until July 31 - to repay a $2.4 billion Islamic loan due on Wednesday, the company said in a bourse statement.

Authority is studying all civil aviation services that are not currently available in Oman
11:16 GMT

The sultanate will have at least one low-cost carrier (LCC) by the first half of 2014 with the possibility of more licences being awarded, according to Salim Nasser Said al Aufi, chief executive officer of the Public Authority for Civil Aviation.