Main headlines

January 21, 2015

The deal was awarded by the Hanwha Engineering and Construction
21:24 GMT

Alderley, a leading engineering company operating in the oil, gas, petrochemical and water industry, has won a contract to supply nine oil metering systems and small volume provers for a project in Saudi Arabia

The ambition was to save more crude oil for export.
15:00 GMT

Saudi Arabia is delaying by eight years its target of completing a clean-energy program that includes a $109 billion solar power project.

Bahrain EXPO 2015
13:53 GMT

Organisers said the show has grown by four percent this year and was filled to capacity.

The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday
13:28 GMT

The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday, compared with US$43.87 a barrel the previous day, according to OPEC Secretariat calculations.

Emirates Airline was the UAE’s most positively perceived home-grown brand in 2014.
12:58 GMT

Emirates was the UAE’s most positively perceived home-grown brand in 2014, according to a YouGov ranking.

The report also mentioned the vast refugee influx into Turkey from Syria as millions of people have fled the country's bloody civil war.
11:15 GMT

In a period of worsening employment figures and slower growth, as well as widening global income inequality.

hile its users may populate only a virtual country, Facebook says it generates a lot of real economic activity – $227 billion worth of economic impact and 4.5 million jobs in 2014
11:08 GMT

With 1.35 billion users of its Internet social network, Facebook would rank as the world’s second-most populous nation if it were a country.

Fourth-quarter growth held steady at 7.3 percent from a year earlier, slightly better than expectations.
04:55 GMT

“The country’s period of miraculous break-neck growth is over, but let’s get over it.”

Oil prices have dropped by more than half since June as output has soared while demand growth has slowed.
00:00 GMT

Brent crude oil prices steadied around $49 a barrel on Tuesday after the International Monetary Fund cut its forecast for global economic growth in 2015 implying lower demand for fuel.

January 20, 2015

In early afternoon London deals, Brent North Sea crude for delivery in March fell 48 cents to trade at $49.69 per barrel.
12:50 GMT

Saudi Arabia can cope with low oil prices for "at least eight years", Saudi Arabia's minister of petroleum's former senior adviser has told the BBC.

The canal generated some $5.2 billion in revenues during the 2012/2013 fiscal year. (AFP File)
10:16 GMT

A section of the channel Egypt is building parallel to the Suez Canal suffered leaks in the early hours of Monday, causing no injuries.

Qatar’s support for former Egyptian Islamist President Mohamed Mursi and the Muslim Brotherhood created tensions with Abdel Fattah al-Sisi.
04:55 GMT

Qatar’s emir will attend an economic summit due to take place in Egypt in mid-March, sources from both countries said on Monday, in a sign of easing political tension between the Arab states

January 19, 2015

Oman DryDock
20:04 GMT

Oman Drydock Company has handed over its 300th vessel since starting operations in 2011.

NADEC registered SR 20 million in fourth-quarter net profit.
13:44 GMT

The National Agricultural Development Company (NADEC) achieved net profits amounting to SR 107 million net profits in 2014.

A Dubai-based private firm is leading a consortium in bidding to develop solar and wind power plants
11:24 GMT

A Dubai-based private firm is leading a consortium in bidding to develop solar and wind power plants for Egypt as part of the country's plans to diversify its power generation mix amid its worst energy crisis in decades, the company's chairman said.