Main headlines

December 30, 2012

Instagram has lost 23 per cent of its daily users over controversial new terms of service for the popular app
12:48 GMT

Photo-sharing app Instagram has lost over 23 percent of daily users in the wake of anger at controversial changes to its terms of service

Secretary General of the Arab League, Nabil Elaraby, has urged economic support for Palestine during a vist the West Bank
12:27 GMT

Arab League Secretary General Nabil Elaraby Saturday stressed financial support for the Palestinian Authority (PA) even before political support.

The Central Bank of Egypt is imposing yet more currency controls in an effort to stave of a crisis
11:53 GMT

The Central Bank of Egypt (CBE) announced on Sunday several procedures to preempt a looming foreign currency crisis, including putting a limit on corporate cash withdrawals at $30,000 per day, Reuters reported.

Iran is holding a large military exercise in the key oil trading route of the Strait of Hormuz
11:30 GMT

Iran started on Friday six days of naval drills in the Strait of Hormuz, the official IRNA news agency reported, maneuvers aimed at showcasing its military capabilities in what is a vital oil and gas shipping route.

Egypt's Prime Minister, Hisham Kandil, has said his country is not facing bankruptcy
11:13 GMT

Egypt's Prime Minster, Hisham Kandil, said on Sunday in a press conference that the government will announce a national initiative for economic reform whilst reiterating that the country is not facing bankruptcy.

The Internet encyclopedia, Wikipedia, has revealed the list of most searched articles in 2012.
09:32 GMT

The Internet encyclopedia, Wikipedia, has revealed the list of most searched articles in 2012.

Jordan is expected to have a budget expenditure of JD7.4 billion in 2013, insiders claim
08:06 GMT

Jordan's overal budget expenditure is estimated to be around JD7.4 billion, an insider has said, with the deficit expected to be around JD800 million, once aid money is accounted for.

Egypt has received a $500 million from Qatar and is awaiting another $500 million from Turkey
07:57 GMT

Egypt has received a final $500 million instalment of funds promised by Qatar and will get another $500 million from Turkey at the end of January, Egypt's finance minister said, in the latest aid to help balance its budget and defend its currency.

Saudi Arabia has announced a record breaking $221 billion  budget for 2013
04:00 GMT

Saudi Arabia’s council of ministers on Saturday agreed a record budget for 2013 with revenues expected to hit $221 billion (167 billion euros), state television Al-Ekhbariyah said.

The Central Bank of Egypt has warned that foreign reserve levels are at "critical" levels
03:00 GMT

Egypt's Central Bank has introduced a new auction system for buying and selling US dollars to help conserve foreign reserves, which it says have reached a critical level.

December 27, 2012

Egypt is facing further turmoil as the country faces a shortage  of dollars
12:31 GMT

Egypt is being hit by a dollar shortage as some Egyptians rush to convert their local savings into foreign currencies amid signs of further economic turmoil ahead.

Protests against Iraq's Prime Minister  Nuri Al Maliki have closed trade route to Jordan and Syria
12:13 GMT

Tens of thousands of Sunnis blocked Iraq's main trade route to neighbouring Syria and Jordan in a fourth day of demonstrations yesterday against Prime Minister Nuri Al Maliki.

New figures show that Palestine's budget deficit stands at over $600 million
11:58 GMT

Palestine's budget deficit stood at 25.7 per cent of GDP in the third quater of 2012, as new economic figures are released.

Public sector workers in Egypt will be paid on time, the Finance Minister has said
11:50 GMT

Egypt's Finance Minister Mumtaz al-Saeed confirmed on Wednesday the treasury's full commitment to paying wages, salaries, and pensions of all administative state apparatus employees.

Iran has reportedly banned flights from operating during the call to prayer
11:31 GMT

Iran has banned airplanes from flying during the call to prayer, according to reports.