Main headlines

January 16, 2013

A strike by gas station owners and delivery workers has been averted after  deal was struck to increase royalties
06:55 GMT

A potential strike by gas delivery workers in Jordan has been averted after a deal was struck to increase the amount of royalties deals collect.

Egyptian stocks suffered on news of the rail disaster in which 19 people died
04:00 GMT

Egyptian stocks on Tuesday were adversely impacted by Monday night's rail disaster in which 19 passengers were killed and more than 120 injured.

January 15, 2013

The Egyptian pound continued to slide again on  Tuesday, as former finance minister claims the currency controls are  "temporary"
13:06 GMT

The Egyptian pound dropped 0.3 per cent against the US dollar at the latest currency auction by the central bank on Tuesday, as the former minister claims the currency controls are temporary.

Jordan's CPI rate of inflation increased by 4.8 per cent in 2012, new statistics show
12:48 GMT

Jordan's Consumer Price Index (CPI), one of the main measures of overal inflation, increased by 4.8 per cent in 2012, new statistics reveal.

Bahrain is set to spend $180 million in 2013 on basic food subsidies
12:11 GMT

Bahrain will subsidies basic food staples of meat, poultry and flour to the tune of $180 million.

Tunisian PM Hamadi Jebali has urged Arab leaders to support Palestine financially during its "difficult financial stage"
11:05 GMT

Interim Tunisian PM Hamadi Jebali met with Palestinian President Mahmoud Abbas and stressed that he will encourage Arab leaders to support the PA financially.

Saudi Arabia is to build almost 13000 homes across the Kingdom, funded by loans  worth SR5 billion ($1.333 billion)
10:39 GMT

Saudi Arabia plans to build more than 12,400 housing units across the country, according to reports from the English-language Arab News.

The UAE's interior ministry has warned that any undocumented workers who stay after the visa ban face legal actions
10:01 GMT

Once the UAE's visa amnesty is completed in February, the Ministry responsible has said that anyone hiring or sheltering undocumented workers will face legal proceedings.

The Islamic Development Bank has signed agreements topping $388 million with Egypt
09:29 GMT

The Islamic Development Bank signed agreements with Egypt yesterday, worth more than $388 million, to build a new power plant and boost the economy.

Jordan's PM Ensour has ordered a review of all privatisation deals in the Kingdom since 1989, under the King's directive
08:47 GMT

Jordan is to set out on a review of all privatisation deals in the Kingdom since 1989, and will assess the social and economic ramification of each denationalising deal.

Egyptian stocks responded well to the possibility of reconciliation of Mubarak-era financial corruption
04:00 GMT

Egypt stocks rebounded slightly in Monday trading with foreign investors going on a limited spending spree on news of possible "reconciliation" between the country's post-revolution government and members of the former regime indicted for financial misdealing.

January 14, 2013

Former deputy governor of Egypt's Central Bank has resigned as head of the NAtional Bank of Egypt for undisclosed reasons
13:03 GMT

The chairman of Egypt's largest public bank, the National Bank of Egypt (NBE), has resigned, although it remains unclear if President Mohamed Morsi has accepted the notice.

Kuwait has revealed a budget surplus of $52 billion, in the first eight months of the fiscal year, buoyed by oil revenues
12:14 GMT

Kuwait has revealed a budget surplus of $52 billion in the first eight months of the fiscal year, buoyed by strong oil revenues .

Oil tankers are stuck at the Iraqi-Jordan border, which has recently seen protest against Iraq's Prime Minister
12:00 GMT

Three hundred oil tankers are stuck at the border between Jordan and Iraq awaiting Baghdad's permission to enter the Kingdom. The border has been closed after a recent spate of protests aimed at Iraq's Prime Minister.

An investment bank for the Arab Maghreb has been created with $100m and support from the IMF
11:13 GMT

The five nations of the Arab Maghreb Union have created an investment bank with capital of $100 million to finance infrastructure projects in the region, Mauritania's central bank governor said on Wednesday.