Main headlines

August 26, 2013

The average yield on 91-day treasury bills increased to 11.613 percent from 11.444 percent at last week's auction, the central bank said.
07:54 GMT

Financial markets are often adversely affected by political uncertainty and security breaches. However, in Egypt, the case has been different in terms of stocks and t-bills.

Propertyfinder.ae made the 100 percent acquisition of realestate.com.lb following the website’s first round of investment since 2009, designed to help it grow into new markets.
07:21 GMT

The deal will allow Lebanese brokers and developers to use Propertyfiner’s vast network, as well as its advanced technology, and gives Propertyfinder greater reach throughout the region.

August 25, 2013

“We eye new markets such as Australia, Pakistan, Turkey, Malaysia and others because we do not want to be largely dependent on the Indian market only,” Majali said.
15:59 GMT

The company sold phosphate to Ethiopia at “slightly below cost price” in order to re-enter the Ethiopian market lost in a tender last year due to high competition from neighbouring countries,

The Egyptian minister has approved getting assistance from the International Monetary Fund’s experts to help the government through the transformation process.
15:26 GMT

Egypt’s government mulls over switching to Value-Added Tax (VAT) as a backbone for financial discipline and social justice, the finance ministry said on Friday.

OPEC member Venezuela has the world's largest proven oil reserves and produces up to three million barrels a day.
13:51 GMT

"It is an agreement of cooperation and solidarity with our oil industry... a sale of fuel at a fair price," Jaua said at a press conference.

The study marks a shift in conventional economic thinking
13:34 GMT

Emerging must develop tools to control credit flows or risk relinquishing any independent monetary policy, a study shows.

Mcdonald's branches in the Kingdom now reached 59.
13:25 GMT

McDonald’s franchisee for the western and the southern regions of Saudi Arabia, has opened three new restaurants – one in each of Jeddah, Jizan and Mahyel Aseer

Forex trading is the business of making profits by speculating on the value of one currency compared to another.
12:56 GMT

“We want our money [back], we are going hungry. We have too many problems. We have to pay our rent, everything else,” said an Indian resident who invested $78,800.

Her comments come as the Fed is signalling that it could slow its bond purchases later this year if the U.S. economy continues to improve.
12:28 GMT

Any pullback should be determined by the strength of individual economies, said Christine Lagarde.

August 23, 2013

The high demand for education in the country is the reason behind the expensive school fees.
22:30 GMT

UAE is the fourth most expensive country for foreigners to study and live in, according to the latest research by HSBC.

The trading volume jumped to 781.17 million shares yesterday compared to 659.57 million shares on Wednesday.
17:37 GMT

Abu Dhabi and Dubai indices ended the week in positive territory compared to last week, when both closed lower.

August 22, 2013

Their stunning displays take center stage within the park and are able to entertain the public for hours as they relax by the fountains.
16:21 GMT

The water features were specially designed to convey the message of Constitution Gardens, which aim to tell the story of the state of Kuwait before and after its formation.

Oman has two full-fledged Islamic banks, Bank Nizwa and Al Izz Islamic Bank, as well as several Islamic windows from conventional lenders.
16:01 GMT

ODB, which had a net loan portfolio of 100 million rials ($260 million) as of August 2012, already offers interest-free loans of up to 5,000 rials but they are technically not sharia-compliant.

Expatriates’ remittances went up at the end of July by 2.6 per cent to $2.16 billion,
08:35 GMT

The drop was attributed to a decline in the number of tourists seeking therapeutic services in the past few months and the drop of tourists in general in July, 2013.

August 21, 2013

UAE-based importers of Indian products are reaping the benefits of the falling value of the rupee.
14:41 GMT

"Is someone playing foul? I do not know. But this is strange.”