Main headlines

August 6, 2014


Infiniti’s strong line-up of SUVs contributed to over 67 percent of total sales volume, with QX60 and QX70 remaining Infiniti’s core models.
23:13 GMT

Infiniti announced that its sales figures have increased to 1,524 units across the Middle East in the first quarter of Financial Year 2014

The goal of labor policy is full employment of the Saudi workforce, the report stated.
12:19 GMT

“Carrying out employment strategy requires providing the necessary resources to carry out mechanisms within a specific timeframe,” the ministry said.

While the hoteliers are losing out on business, as Coca Cola and Pepsi are popular beverages, they expressed no qualms over the loss of revenue.
12:02 GMT

A longer list of boycotted products – including garment, chocolates and beauty products – are being share via social networking sites Facebook and Twitter.

Turkey's economic growth beat expectations in the first quarter of 2014 by registering a 4.3 percent year-on-year expansion in its gross domestic product (GDP),
04:55 GMT

Turkey's economy minister joined a government-led chorus suggesting that the country is being treated unfairly by international rating agencies.

August 5, 2014

 
Trade between Iran and Turkey jumped sharply in 2013 compared to the decade ending in 2012.
21:21 GMT

Annual non-oil trade between Iran and Turkey amounted to $5.286 billion in the previous Iranian calendar year.

The $150 million power plant — which will be the largest PV facility in the Middle East — is one of the main projects in Jordan’s plan to diversify its power generation portfolio.
21:01 GMT

The US company said it has also finalised a long-term operations and maintenance contract for the project, which is expected to be operational by early 2016.

Market observers said the proactively worded statement was a political ploy made just days before Turkey prepares to elect its president directly for the first time in the history of the republic.
21:01 GMT

“If a pipeline is built from Israel, it will flow not with gas but with the blood of innocent children and mothers,” said Yıldız, who was joined by Malta Energy Minister Konrad Mizzi at the press briefing.

A major objective of the law, according to Majali, is to ensure the local administrations in the governorates have more powers to develop and manage services.
20:51 GMT

The municipalities and decentralisation draft laws seek to enhance citizens’ participation in decision making, according to Prime Minister Abdullah Ensour.

Brazil is a significant exporter of Halal foods. In 2013 it shipped 1.48 billion tonnes of chicken to the Middle East.
20:29 GMT

In January Abu Dhabi Equity Partners invested in a livestock financing programme to fund the fattening of 70,000 cattle heads - the equivalent of entire UAE's annual import of beef.

t the moment foreigners cannot directly own Saudi Arabian stocks. But they can enter into a complex proxy arrangement whereby a Saudi national owns the shares but they benefit from the share price movements and dividends.
04:55 GMT

Foreign investors spend a total of $941 million on Saudi proxy shares last month, more than double the amount in June after an announcement promised full ownership rights early next year.

August 4, 2014

The project, located on Saudi Arabia’s Red Sea coast, received a formal go-ahead from the parent firms in 2012.
20:15 GMT

However, it added that both Aramco and Sumitomo would continue to guarantee finance needed to build the project.

Etisalat’s enhanced roaming network includes all GCC countries, allowing customers to enjoy data usage anywhere in the region as well as in 36 new destinations.
19:57 GMT

Etisalat makes traveling this summer easier with the expansion of its preferred partner network for data roaming.

With regard to brands, Chevrolet topped the list of sold cars marking around 5,300 in sales in June compared to 3,500 sold units in the same month last year
04:55 GMT

The sales of passenger cars segment in June witnessed a 53% increase compared to June 2013, whilst truck sales surged 73%.

The conglomerate, in which sovereign fund Investment Corp of Dubai owns an 11.5 per cent stake, posted a net profit of Dhs805 million ($219.2 million).
04:55 GMT

Dubai Investments said on Sunday that its net profit for the first six months of the year more than doubled, on the back of gains from the divestment of one of its assets.

Egyptian president Abdel Fattah Al-Sisi sat down with the Minister of Supply and Internal Trade Khaled Hanafy to study the possibility of implementing three “major” investment projects.
04:55 GMT

The first project discussed was the establishment of the first factory for wheat and grain storage in Egypt.