Main headlines

May 26, 2014

Saeed said the highest level the stock market has witnessed occurred in 2008, when it registered 12,000 points, followed by a slump for five years.
20:17 GMT

The Egyptian Stock Market witnessed a significant rise in its main index EGX-30 index on Monday, recording 8,736.28 points, its highest level since 2008.

The bank should leave the currency floating and expose it to the market’s supply and demand, Younes said.
11:26 GMT

The Egyptian pound unexpectedly fell to record EGP 7.14 against the dollar after the Central Bank of Egypt (CBE) held an “exceptional foreign exchange auction” on 14 May

Khosravi's fraud case is the largest corruption case reported in the country since the 1979 Islamic Revolution (AFP)
03:55 GMT

Khosravi’s business empire included more than 35 companies from mineral water production to a football club and meat imports from Brazil. According to Iranian media reports, the bank fraud began in 2007.

Mine workers at Ata Bacası mine and Işıklar mine, both operated by Soma Holding, refused to work at mines after a deadly disaster occurred at the company's other mine where 301 workers died.
03:55 GMT

Soma Holding, the firm operating the coal mine in which 301 workers died in Turkey's worst-ever mining disaster has called mine workers at the company's other two mines to start work “if they feel well".

Iran possesses the world’s second largest reserves of natural gas and the world’s fourth largest reserves of crude oil.
01:37 GMT

The country is currently exporting about 1.2 million barrels per day and has projected 1.5 million barrels of daily sales in the national budget for the year.

May 25, 2014

Business.
22:28 GMT

France set a new record in 2013 in terms of the number of GCC investment initiatives taken, especially in manufacturing activities and research and development operations.

Winning a ban may prove difficult for Apple because Koh, who also presided over the companies' first US trial in 2012, twice rejected the iPhone-maker's request in that case, legal experts have said.
22:10 GMT

Apple, following a jury verdict that Samsung Electronics infringed three of its patents, is seeking a US sales ban on some older models of the South Korean company's smartphones.

“I always wanted to get back and we never forgot Dubai,” Trump said at the project site. “Dubai has become very conservative. This is a much different and smarter time.”
21:39 GMT

Donald Trump, the New York real-estate mogul, is back in Dubai with plans for a golf course and 104 mansions three years after a plan to build a hotel tower bearing his name was scrapped in the emirate.

The device would essentially put the key capabilities of a smartphone into a watch, requiring a SIM card and likely a data and voice plan too.
16:52 GMT

Samsung's been more than happy to experiment with the shape of smartphones, often to ridiculous results, and it sounds as though this watch will be just another extension of that.

Despite the steady increase in oil exports, many Iraqis complain that much of the windfall is lost to state corruption and that the proceeds have not markedly improved daily life.
11:18 GMT

Iraqi engineers began repairs Saturday to a northern oil pipeline that has been disabled for months by militant attacks, costing the country millions of dollars in lost revenues, officials said.

Major sovereign wealth funds in the Middle East and Asia have invested in Russian businesses and backed its state-funded private equity fund.
11:08 GMT

Sovereign wealth funds in China and Qatar signaled their increased commitment to Russia, boosting Moscow’s hopes of strengthening ties with Asia and the Middle East as relations with the West deteriorate.

The Ministry of Civil Service in cooperation with the Ministry of Higher Education announced that 6,494 education jobs are available for Saudi youth.
03:55 GMT

Last week, the King approved a five-year plan worth more than SR80 billion ($21.33 billion) to develop the education sector.


Saudi Energy 2014 will serve as an ideal platform for energy professionals, government officials, investors and both local and regional buyers.
03:55 GMT

Saudi Energy 2014 is set to surpass the success of the 2013 edition that gathered 7,564 visitors.

Sharjah is the third-largest member of the UAE in terms of population, GDP, and geographic area.
03:55 GMT

The affirmation primarily reflects the solid growth in Sharjah’s GDP per capita.

May 24, 2014

During the meeting Kuwaiti Minister of Planning and Development Affairs, Hind Alsubaih, proposed the establishment of a pan Gulf research centre for planning and development
01:05 GMT

The UAE has called for increased coordination between GCC member countries to achieve economic integration in the region.