Main headlines

May 2, 2013

A new black market for gold is emerging following speculation on the dollar
11:13 GMT

Speculation on the dollar in Egypt is leading to a boom in the black market trade of the dollar.

UK Shell have been awarded a 40 per cent stake in a $10 billion venture
10:28 GMT

Shell has been awarded what is probably the largest contract ever for a UK company in the United Arab Emirates with the Anglo-Dutch oil giant set to invest huge sums to develop the Bab sour natural gas field for local energy requirements.

Jordan is continuing its crackdown on undocumented workers
09:23 GMT

As the world marked Labour Day on Wednesday, Jordan's Labour Ministry said it continues its efforts to organise the labour sector with inspection campaigns to detect illegal guest workers.

Mobile advertising for the social-networking site Facebook has jumped by 30 per cent
08:47 GMT

The social media giant Facebook reported on Wednesday a massive boost in mobile advertising revenue, which could go a long way in easing fears from investors over the Menlo Park company’s future growth.

Egypt is the world largest importer of wheat.
08:31 GMT

Wheat shipment arrived in Egypt's port city of Alexandria on Wednesday.

Could bonds boost Egypt economy?
03:07 GMT

The sovereign Islamic bonds law passed by Egypt's Shura Council Tuesday is expected to boost economic growth and employment figures, according to Ahmed El-Naggar

May 1, 2013

A key oil pipeline in Yemen has been attacked, officials have confirmed. (Getty)
12:54 GMT

Yemen confirmed on Tuesday a lucrative oil-pipeline in the east of the country was attacked.

Internet users in the UAE are being promised better internet connection with the introduction of a new under-sea cable
12:32 GMT

Internet user in the UAE are being promised “reliable and robust” services as a new undersea cable is to be introduced to bring faster speeds.

Egypt's bourse and banks are closed due to Labour day
12:17 GMT

Wednesday 1 May, May Day, has officially been designated as a holiday for bank and Egyptian Exchange (EGX) employees, with work set to resume on Thursday.

Egypt's President, Mohammed Morsi, has halted all privatisation plans
11:47 GMT

Egyptian President Mohamed Morsi said on Tuesday in light of Labour Day celebrations that the government will halt its privatisation policy and will not sell any more public companies.

Lebanon's media council is urging the Central Bank to help provide "soft loans"
11:38 GMT

The head of the Lebanon's National Audiovisual Media Council is urging Central Bank Governor Riad Salameh to help radio and TV stations in Lebanon obtain soft loans from commercial banks to enable these media outlets survive.

Egypt is to raise the fees for ships using the Suez Canal
09:59 GMT

Egypt will raise toll fees by 5% for oil tankers and petrochemical products and 2% for container ships and car carriers, said the Suez Canal Authority (SCA).

Oman is hoping for $10 billion in FDI in one its its economic zones
09:41 GMT

Oman's government expects $10 billion foreign direct investment in Duqm economic zone in the next five years.

Egypt's Shura council passed a draft law on Islamic bonds
09:07 GMT

Egypt's Shura Council (upper house of parliament) on Tuesday approved the Islamic bonds (Sukuk) draft law, reported a television channel.

lebanon's President is demanding answers as to why a powership stopped working
08:36 GMT

Lebanon's President Michel demanded answers on Monday to find out why the power-ship loaned from Turkey has stopped working.