Main headlines

July 17, 2013

Rents in Dubai have recently gone up on the back of renewed confidence in the economy and the real estate sector.
11:55 GMT

Although a lot of landlords are asking for more money this year, residential rental prices in Dubai, particularly in prime locations, are showing signs of letting up.

The current serrated gas cylinder valve (horizontal) has been changed to the new vertical self-closing valve powered by a safety valve to reduce the pressure inside the cylinder to prevent possible damage
09:55 GMT

Cooking gas consumers in Jeddah are experiencing difficulties getting a refill after GASCO notified consumers that they should switch over to the new safety valve, commonly known as a regulator, which was introduced recently.

Boeing had earlier announced that world air cargo traffic will grow 5.2 per cent annually
08:55 GMT

Boeing has 649 purchase orders in the Middle East region as of June 2013 of various models with a main focus on 787s-Dreamliners and 777s.

Power cables
06:29 GMT

Oman Cables Industry has signed a contract for the supply of power cables worth an estimated RO27.36mn with a customer in Saudi Arabia, the company said in a filing to the Muscat Securities Market.

July 16, 2013

GCC states depend heavily on desalinated water
15:55 GMT

Efforts are under way to link the Gulf Cooperation Council states with a water pipeline at a cost of $1 billion.

The Kingdom has so far spent SR100 billion to develop Makkah into a modern city with improved services to meet the needs of millions of pilgrims
13:55 GMT

A tourism official in Makkah has confirmed that the prices of hotels have undergone radical change and returned to their normal rates.

Iran plans to export 12 million tons of cement in the current calendar year
12:55 GMT

Iran produced 19.3 million tons of cement in the first three months of the current Iranian calendar year, which began on March 21, according to the secretary of the union of cement industry employers.

Kuwait is pumping around 3 million barrels per day of oil
12:26 GMT

The Gulf state of Kuwait has discovered a new oil and gas field in Kabed area close to the well-known Manageesh oilfield, Hashem Sayed Hashem, CEO of state-owned Kuwait Oil Co said yesterday.

Iran plans to increase its steel output to more than 24 million tons by the end of the Iranian calendar year
10:55 GMT

Iranian steel smelters also produced 4.055 million tons of steel products in spring 2013.

In June, Washington granted new waivers to China, India, South Korea, and six other countries from the sanctions on Iran
08:55 GMT

South Korea imported 565,444 tons of Iranian crude oil in June, equivalent to 138,157 barrels per day, Reuters reported.

People who use Facebook in Saudi Arabia will be notified about the Hijri calendar option
06:49 GMT

Facebook announced the launch of a new feature for birthdays, aimed at people who wish to use the Islamic Hijri calendar.

The Ramadan promotion at the cooperative includes 400 items that are offered at a discounted price of up to 50 per cent
06:41 GMT

The Ministry of Economy has been visiting various hypermarkets across the country to ensure that companies are not hiking prices during Ramadan.

July 15, 2013

The 50-day average for trading volume is closer to 234.7 million shares
15:55 GMT

The Tadawul All-Share Index reflecting typical trough-peak combination continued inching its way higher to end yesterday’s trading in the green at 7,744.16 points, up 53.78 points or 0.70 percent from the previous level.

The combined annual production of 2 billion cubic feet (bcf) at the Helium 1 and 2 plants will help meet around 25 per cent of current global demand
13:55 GMT

Qatar has now become the world’s largest exporter and second largest producer of liquid helium with the launch of production at the new plant of RasGas Company, said the country’s energy minister.

A decision was made that Pakistan would provide the wheat and rice instead of cash and Tehran has agreed to it
11:55 GMT

Iran has agreed to barter wheat worth $9 million from Pakistan in relation to Pakistan's debts for electricity supplied by Iran.