Main headlines

June 23, 2013

Spot gold was down 4 per cent at $1,296.60 an ounce at 1454 GMT
11:44 GMT

Gold plunged to its lowest in more than 2-1/2 years on Thursday, with investors exiting in droves after the U.S. Federal Reserve gave its most explicit signal yet that it plans to bring the era of easy money to an end.

Jebel Ali Free Zone FZE's (JAFZ)
11:34 GMT

Fitch Ratings has affirmed Jebel Ali Free Zone FZE's (JAFZ) Long-term Issuer Default Rating (IDR) at 'B+', with a Stable Outlook.

First Gulf Bank building
10:20 GMT

First Gulf Bank (FGB) has signed an agreement to acquire Dubai First, the consumer financial services business, from Dubai Financial Group for AED 601 million in cash.

The rial was trading at around 33,300 per dollar
06:19 GMT

The Iranian currency, the rial, rose further on Thursday on hopes the country's economy could improve under its next president, a relative moderate elected last week.

The GCC economies would continue to benefit from high oil prices
06:00 GMT

The GCC economies are expected to grow at 5.6 per cent by the end of this year, said a report citing a top regional banking official.

June 20, 2013

Qatar foreign trade saw rise according to figures
11:00 GMT

In April 2013 Qatar’s trade balance of goods showed a surplus of QAR 35.2 billion, i.e. an increase of QAR 0.8 billion, (2.2 per cent) compared to the same period of 2012, accordint to the QSA.

Offshore drilling site
10:03 GMT

State-owned Abu Dhabi Marine Operating Co (Adma-Opco) has awarded a 2.8 billion dirhams ($766 million) contract to a local firm to develop an offshore field as its expands production of crude oil.

Tunisia's national flag
10:00 GMT

Tunisia's first issue of a sukuk (Islamic bond) is likely to be postponed to next year, adding to pressure on government finances, because of disruptions to legislative business.

The total lPO was valued at SR 5.3 billion in 2012 and SR 1.7 billion in 2011
06:00 GMT

The subscriptions to IPOs (initial public offerings) in the Saudi stock market dropped drastically during the year, according to a recent economic study.

The price of oil was down slightly yesterday.
06:00 GMT

Kuwait's acting oil minister said yesterday current oil prices were "fair" and that the Gulf Arab state was producing around 3 million barrels of crude per day.

June 19, 2013

Only Saudi citizens are allowed to subscribe for IPOs
11:46 GMT

The subscriptions to IPOs (initial public offerings) in the Saudi stock market dropped drastically during the year, according to a recent economic study.

The UAE ranked second and its inflow rose 25 per cent to $9.6 billion
11:29 GMT

Foreign direct investment, or FDI, into Arab world rose by nearly 10 per cent in 2012 led by Saudi Arabia and the UAE, according to a latest report.

Masdar's Seychelles Wind Farm
11:24 GMT

The Abu Dhabi Future Energy Company or Masdar in association with the Abu Dhabi Fund for Development (ADFD) has launched a six-megawatt, eight-turbine wind farm in the Republic of Seychelles.

Central Bank of Qatar
11:14 GMT

Qatar Exchange has announced the introduction of government bonds issued by the Qatar Central Bank for trading on the exchange, which will commence on 20 June 2013.

Dubai Airport
06:00 GMT

The organisers of the inaugural Dubai Airports 9-Ball Billiards Championships are hoping to discover some fresh talent to lend depth to the national squad.