Main headlines

May 15, 2013

 UAE researchers discover biodiesel to run motor engines
10:31 GMT

UAE researchers have discovered the oil extracted from microalgae as a promising alternative to diesel, saying it can run motor engines effectively without any modifications.

The group’s net production averaged 61,400 barrels of oil
10:27 GMT

Revenue from the sale of hydrocarbons during the period was Dh557 million ($152 million).

Premium growth was largely in the medical insurance business in UAE
01:23 GMT

Oman National Investment Corporation Holding (ONIC) has reported a net profit of RO3.08mn for the first quarter ended March 31, 2013.

May 14, 2013

Central Bank of Oman
13:16 GMT

The Central Bank of Oman has urged licensed banks operating in the Sultanate to show more interest in financing small and medium enterprises.

Kuwaiti Parliament (Getty/AFP)
11:53 GMT

Kuwait’s GDP has been forecast to grow 1.1 per cent in 2013 as oil prices and production stabilises.

Institute of International Finance (file photo)
10:46 GMT

The UAE’s economic growth is projected to moderate to 3.6 per cent in 2013 from an estimated growth of 4.8 per cent last year.

Air Arabia
09:58 GMT

Air Arabia said on Monday its net profit for the first quarter of 2013 jumped 20 per cent to Dh59 million.

Islamic banking needs separate regulations and reporting standard
03:55 GMT

Central banks of the Islamic countries have been urged to adopt a separate set of regulation to reduce confusion among Muslim scholars

Dubai Financial Market
03:17 GMT

The UAE markets rose in tandem on Monday, with Dubai Financial Market gaining 0.50 per cent and Abu Dhabi Securities Exchange 0.43 per cent.

May 13, 2013

Campaign poster
18:55 GMT

Dubai tops the list of cities with the brightest future, followed by the two North American cities of Calgary and Denver

The Organization of the Petroleum Exporting Countries’
14:10 GMT

Opec crude oil output rose in April from its lowest monthly level in more than a year due to the resolution of export disruptions in Iraq and Libya and a rise in Iranian sales

Gasoline prices needed to rise in line with those of its neighbours
13:58 GMT

Libya will join its neighbours in tackling sensitive fuel market reforms and plans to do away with all subsidies within three years, Oil Minister Abdelbari Al Arusi said.

Qatar’s Premier and Foreign Minister Sheikh Hamad bin Jassem bin Jabr al-Thani
13:19 GMT

The Central Bank of Egypt (CBE) received a $3bn Qatari deposit for the purchase of Egyptian bonds on Thursday, confirmed Nidal Assar, the sub-governor of the CBE.

International Air Transport Association
12:47 GMT

The UAE Cabinet has approved an agreement between the UAE and the International Air Transport Association (IATA)

RAK Petroleum plant
11:53 GMT

RAK Petroleum’s assets include a 42.8 per cent holding in Norwegian oil company DNO International ASA.