Main headlines

June 2, 2013

Egypt has run through more than $20 billion in reserves
10:22 GMT

Egypt has converted $2.5 billion that Qatar lent it in December into 18-month notes and is working to convert another $3 billion lent this month into three-year bonds, Egypt's central bank governor was quoted on Thursday as saying.

Oman Oil Company Exploration and Production LLC (OOCEP)
10:10 GMT

Oman Oil Company Exploration and Production LLC (OOCEP), an upstream oil and gas subsidiary of Oman Oil Co, has awarded a US$40mn engineering, procurement and construction (EPC) contract to Abu Dhabi-based National Petroleum Construction Co (NPCC).

US shale oil production has added 850,000 barrels per day to its current production levels
10:08 GMT

Saudi Arabia exported nearly 1.06 billion barrels of oil in the first five months of the current year that yielded SR 428.6 billion, an economic expert was quoted by the local media.

Saudi Financial Markets
05:30 GMT

Saudi stock market continued its positive movement for the second consecutive week, marking another gain of 0.56 percent.

Saudi Arabia Airlines
05:00 GMT

International airlines operating in KSA have raised their fares to make maximum profit during the summer season when thousands of Saudis and expatriates travel abroad to spend their vacation.

May 30, 2013

Qatar’s trade surplus rises 7.9% in Q1
14:00 GMT

Qatar's foreign merchandise trade balance has showed a surplus of QR107 billion in the first quarter of 2013, according to QSA’s preliminary report of exports and imports for the first quarter of 2013.

The first module began on Tuesday
13:08 GMT

For the first time in the Middle East a diploma in Health Economics and Health Technology Assessment (HEHTA) is being offered, honing Dubai’s status as an international hub for medical tourism.

Saudi wheat precision farming
12:44 GMT

The Saudi stock market continued its upward march and managed a third straight rise yesterday, adding nearly 26 points further.

The landmark transaction was awarded “Middle East Infrastructure Equity Deal of the Year”
11:48 GMT

Mena Infrastructure Fund LP, a leading specialist infrastructure private equity fund, sponsored by Waha Capital PJSC, Fajr Capital Ltd and HSBC Group, has acquired a 20 per cent shareholding in Sohar Power Company SAOG.

‘Qatar’s share in GCC aviation to grow by 17% by 2023’
11:32 GMT

QATAR’S market share in the GCC aviation industry is expected to grow by 17 percent whereas the latter’s share in the global aviation market is likely to increase by five percent by 2023.

The authority will launch five routes, curtail three routes and extend five routes
10:59 GMT

Newly developed areas in Dubai will soon have public bus routes as the Roads and Transport Authority (RTA) plans a major revamp of its ever-expanding network.

Both sides agreed on the need to ease Schengen visa procedures for UAE
05:30 GMT

UAE-Spanish trade increased by 75 per cent from 1 billion euros in 2009 to 1.75 billion euros by end of 2012, Minister of Economy Sultan Bin Saeed Al Mansouri said on Wednesday at the Second UAE-Spain Joint Economic Committee which was held in Abu Dhabi.

A team of Freezone Sohar officials visited India recently
05:00 GMT

With Indian companies and investors continuing to evince interest in Freezone Sohar, the economic hub is aiming to double investment from India to US$250mn in the coming two years from the present US$125mn.

Emirates Securities Market
05:00 GMT

Stocks in Dubai and Abu Dhabi continued to rise, with their benchmark measures gaining for the third straight day yesterday.

May 29, 2013

Standard & Poor's Ratings Services
14:00 GMT

Standard & Poor's Ratings Services has revised the outlook on the long-term sovereign credit ratings on the Kingdom of Saudi Arabia to positive, from stable.