Main headlines

December 8, 2013

The forum resulted in Gulf investors committing to launch a total of 66 new projects in Egypt, according to state news agency MENA.
03:55 GMT

For private Gulf Arab investors, whose businesses in Egypt faced legal challenges after Mubarak's overthrow, a return will only come with guarantees that their money will be safe.

Iranian Oil Minister Bijan Zanganeh named the seven in order: Total of France, Royal Dutch Shell, Italy's ENI, Norway's Statoil, Britain's BP and US companies Exxon Mobil and ConocoPhillips .
03:55 GMT

Iran has named seven Western oil companies it wants back in its vast oil and gas fields if international sanctions are lifted and said it would outline investment terms in April next year.

The Lower House Financial Committee will request the government to downsize the 2014 state budget draft law, head of the committee said Saturday.
03:55 GMT

The draft budget for 2014 shows an increase in spending by JD920 million over the 2013 budget, taking government spending to JD8.096 billion.

December 5, 2013

Energy ministers from Opec countries agreed yesterday to keep the group’s target for crude output unchanged at 30mn bpd.
14:56 GMT

“We have rolled it over,” Saudi Arabia’s Ali al-Naimi told reporters after three hours of closed-door talks finished in Vienna. “We are all satisfied.”

 He described the agreement as an opportunity to learn more about Egypt’s numerous promising industries and sectors that may benefit from the joint venture.
13:29 GMT

Abu Dhabi’s Khalifa Fund for Enterprise development has signed an agreement to provide $200 million to Egypt’s Social Fund for Development (SFD) to support the development of small enterprises.

UAE wants 1% of its total energy production to come from solar power by 2020 (Courtesy of the Arabian Gazette)
12:49 GMT

A senior official from Dubai Electricity and Water Authority (DEWA) told reporters Thursday that electricity and water consumption in the country's largest city is expected to increase by 20% as the Emirate begins to prepare for the 2020 World Expo.

Yemen became a member of the WTO Wednesday (Achmad Ibrahim/AP)
12:19 GMT

Yemen joined the World Trade Organization Wednesday after 13 years of negotiations with the global trade group.

Qatar foreign workers are more frequently using unofficial, off-the-record methods to send money home according to a World Bank report (File Archive)
12:02 GMT

Qatar foreign workers sent nearly $200 million less remittances in 2013.

UAE's Minister of Economy called on the WTO to accelerate the membership process for developing countries interested in joining the global trade group (File Archive)
09:53 GMT

UAE Ministry of Economy Sultan bin Saeed Al Mansouri called on delegations at the World Trade Organization meeting Thursday to deliver a balanced deal that "servers the interests of developed, developing and least developed countries alike."

Global freight tonne kilometres were up 4.0% in October year-on-year, a rebound from the 0.3% contraction in September. (Image credit: Shutterstock)
07:08 GMT

Middle East carriers, driven mainly by Qatar Airways, Emirates and Etihad, recorded the “fastest growth” in air freight in October, a trend International Air Transport Association expects to continue.

The secretary-general of the Kuwaiti liaison commission for environmental rehabilitation, said that the Kuwaiti compensation claims, according to UN resolution 258, cover six restoration ventures.
03:55 GMT

Kuwait is due to receive approximately $744 million in a few days from the United Nations Compensation Commission (UNCC) for disbursement in environmental rehabilitation

Libya hopes to reopen all its oil ports on Dec. 10 and resume full production about a week later after the Libyan army threatened to use force against armed protesters.
03:55 GMT

Asked how soon after Dec. 10 Libya could get production back to normal, the minister said: "From one week to 10 days."

Al-Sabah asserted that the Kuwait Investment Authority would form partnerships with Egyptian organisations to aid in implementing projects and invest in joint ventures with the country, which the Kuwait Fund for Arab Economic Development would finance.
03:55 GMT

Al-Sabah was quoted in the statement as saying that in the coming period, Kuwait would give priority to the projects that affect Egyptian citizens.

December 4, 2013

In a statement on Tuesday, the Berlin-based organization said that the annual report represents a warning against the abuse of power, secret deals and bribes which are ongoing problems that ruin societies across the world.
12:39 GMT

Sudan, Libya, Iraq, Yemen and Iran were the worst in the region.

Damac Properties was established in 2002, as a private, residential, leisure and commercial developer in Dubai. (Image credit: Shutterstock)
12:23 GMT

Damac Real Estate Development on Tuesday raised $348 million from its London share offer by pricing its global depository receipts, or GDRs, at $12.25 each.