May 20, 2013
The Organization of the Petroleum Exporting Countries (Opec) will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year.
Bahrain's real gross domestic product (GDP) is estimated to have expanded 3.9 per cent last year from the 1.9pc growth seen in 2011.
Yields on Egyptian three- and nine-month treasury bills climbed on Sunday and the auction's size was reduced after a new central bank decree limited the amount of funds that banks can channel into money market funds to buy T-bills.
Dubai’s benchmark stock index rose to its highest closing level in almost four years while the Abu Dhabi market general index surged to its highest level since October 2008 on Sunday on the back of a rally in real estate and banking shares.
The Governing Board at the American University in Dubai (AUD) approved Dh30 million (some $8.2) million in scholarships in its 2013-2014 annual budget.
Shura Council decision to raise taxes on loan loss provisions at nation's banks is met by anger; banking officials are slated to meet with newly-appointed finance minister to discuss issue.
The World Bank has approved a $30 million soft loan aimed at supporting a government initiative to improve access to basic services in impoverished parts of the country.
May 19, 2013
Boeing has delivered a 777-300ER extended range plane to Saudi Arabian Airlines (Saudia), marking the latest milestone in its longstanding relationship with the airline and the kingdom.
Oman Air has committed RO2mn ($5,2 million) to staff training in 2013, having already invested more than RO3.3mn (some $8 million) over the previous two years.
Both the Dubai Financial Market and Abu Dhabi Securities Market are trading at a nearly four-year-high, reflecting a return of investor confidence.
Gold prices yesterday dropped to their lowest level for the second time in almost a month, sparking a shopping frenzy at gold shops across the Kingdom.
The Ministry of Regional Municipalities and Water Resources (MRMWR) has floated as many as 11 tenders for the design and construction of internal roads in South and North Sharqiya.
Omantel announced that it inked an agreement for another submarine cable, the 'Bay of Bengal Gateway' submarine cable system (BBG).
The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20 percent in assets from March 2008 - March 2012 and another 20 percent in the year to March 2013.
May 16, 2013
The Saudi stock market recorded nominal gains yesterday, as the Tadawul All-Share Index (TASI) closed higher to 7,147.42, adding 8.11 points or 0.11 percent for the entire day.