Main headlines

April 17, 2013

The six GCC member states are planning stricter migrant worker rules
12:12 GMT

GCC countries will soon pass a law regulating foreign labor in the Gulf countries, including returning to their home countries “marginal” and unskilled foreign workers, a Gulf official said.

Lebanese with savings in Cyprus are being urged to move their money back home (Getty)
10:25 GMT

Cyprus is due to withdraw restrictions on deposits as Lebanese are urged to deposit their savings in backs back at home.

Inflation on the rise in Saudi Arabia
09:23 GMT

Inflation in Saudi Arabia rose by 3.9 per cent in March compared to the same month the previous year

As protests continue in the run up to the Formula One, new figures show that the event has generated $1.3 billion for Bahrain (MOHAMMED AL-SHAIKH / AFP)
09:01 GMT

As protests increase in the run up to the Bahrain Gran Prix, new figures show that the race has generated $1.3 billion for the small island nation in the nine years since it first hosted the race.

Lebanese farmers will receive delayed subsidy payments
08:48 GMT

Lebanese authorities are set to reimburse farmers and exporters for delayed subsidies, originally due to be paid in 2011.

Jordan and Iraq have signed a preliminary agreement for a new oil pipeline
07:46 GMT

Jordan and Iraq have signed an agreement on basic principles to build a pipeline to export crude oil from Basra to Aqaba.

The IMF has slashed its growth forecast for Egypt
03:47 GMT

The International Monetary Fund cut its 2013 growth forecast for the Egyptian economy to 2 percent in its April 2013 World Economic Outlook report, down from the 3 percent initially predicted last October.

April 16, 2013

A new report has urged for a quicker implementation of the GCC customs union
13:58 GMT

The Gulf Cooperation Council (GCC) member states need to involve their private sectors in the activation of the customs union, said a GCC report issued on Monday.

Syria’s central bank set the exchange rate of the pound at $95.30 on Monday
13:38 GMT

Syria’s central bank set the exchange rate of the pound at $95.30 Monday, in a move aimed at propping up the country’s currency after it lost nearly half its value since the start of the ongoing conflict in 2011.

Oil prices continue to drop, as fears grow over another global economic slowdown
13:21 GMT

Major oil producers from the region, analysts say, would be closely watching the fast-dropping commodity prices on the international markets which saw the benchmark Brent crude fall to near $101 a barrel yesterday.

Banking sector workers are threatening more industrial action
13:08 GMT

Bank employees in Lebanon vowed Monday to stage fresh protests and sit-ins on April 28 to press their demand for the renewal of a 2008 collective labor agreement.

Egypt's unemployment hit almost 13 per cent  in 2012
12:58 GMT

Egypt's unemployment rate for 2012 grew to 12.7 percent, mainly due to the "circumstances that followed the January 25 Revolution," the country's official statistics agency, CAPMAS, said on Tuesday.

Jordan is to launch a crackdown on illegal workers in the country.
11:24 GMT

Jordan is to launch a crackdown on illegal workers in the country.

Saudi Prince AlWaleed Bin Talal  is sitting pretty on top of the Forbes' Middle East rich list
11:00 GMT

Saudi Prince AlWaleed Bin Talal topped the 100-person richest Arabs list, according to Forbes, as former Lebanese PM Najib Mikati comes in it at 8th.

Egypt's IMF deal remains on hold
10:43 GMT

A team from the International Monetary Fund concluded a two week visit to Egypt on Monday without signing a deal on a much-anticipated $4.8 billion loan, but the international lender said progress with Egypt was achieved.