Main headlines

February 13, 2014

The IMF predicts that the Iran economy will grow 1-2 percent in 2014-2015 (Courtesy of Wikipedia)
13:00 GMT

The International Monetary Fund said this week that the future of Tehran's economy is positive and that the county will return to growth over the coming year.

In 2013, Doha airport has registered a year-on-year growth every month
08:55 GMT

The growth rate comes as Qatar gears up for the opening of Hamad International Airport “expected to redefine passengers’ experience”.

Oman's tourism sector has been exponentially growing over recent years, placing Muscat at the center of the industry in the GCC (File Archive)
08:46 GMT

You don't have to just take our word for it: data shows Oman's tourism is exponentially on the rise.

Pensions will reach $5 trillion by 2020, according to PricewaterhouseCoopers (Courtesy of Gulf Business)
08:31 GMT

Arabian Gulf pension funds are expected to double and reach $5 trillion by 2020.

Lebanon's GDP in 2014 is expected to be slightly better than 2013 (Courtesy of Al Akhbar English)
07:55 GMT

Lebanese net proceeds from its oil wealth may "easily" exceed $600 billion, new data shows.

The Clean Fuels Project is a specification upgrade and expansion of Kuwait’s largest refineries as part of the Gulf state’s economic development plan, which has faced delays partly due to political instability.
03:55 GMT

Kuwait has approved bids worth a total of $12 billion for major upgrades at two oil refineries, the state-run oil company said, in a sign it is moving ahead with large infrastructure projects.

The European Parliament is expected to vote for this agreement in April.
03:55 GMT

UAE Ambassador to Belgium, said the achievement is a fruit of huge efforts exerted by the UAE Ministry of Foreign Affairs in line with the directives from Shaikh Abdullah bin Zayed Al Nahyan, UAE Foreign Minister.

February 12, 2014

By 2020, four nuclear plants will be generating up to a quarter of the nation’s electricity supply.
17:33 GMT

In order to diversify its energy production, the UAE has been stepping up its nuclear programme.

OPEC’s report comes a day after the U.S. government’s Energy Information Administration raised its 2014 world oil demand growth forecast by a similar increment.
17:12 GMT

World oil demand will rise slightly more than expected in 2014, OPEC said on Wednesday, becoming the second major forecaster this week to predict higher fuel use as economic growth picks up in Europe and the United States.

The suspension of western economic aid to Egypt, which is relatively small compared to the financial assistance that Gulf countries provide, will lead the country to turn to the East, reducing Western influence,
17:02 GMT

According to a new Brooking report, the nature of the international community’s engagements in Egypt needs to be reexamined.

Only 25 percent of KSA projects are implemented on time (Courtesy of Emirates 247)
14:00 GMT

Saudi Arabia is losing $27 billion every year due to "deliberate stalling of construction projects by corrupt government officials."

Egypt's tourism minister described 2013 as one of the worst years on record for the country's tourism industry (Courtesy of Al Jazeera)
13:00 GMT

Egypt's tourism sector has suffered dramatically with only 678,000 visitors in December 2013, representing a nearly 31 percent decrease from 2012 figures

Tthe service will cover electricity and telephone bills
10:55 GMT

eFAWATEERcom will allow beneficiaries to cover electricity, phone, water, education, healthcare, travel and tourism, e-Commerce and insurance bills

The Mina Abdullah I refinery package will be executed by a consortium of Samsung Engineering (43 per cent), UK’s Petrofac(47 per cent) and CB&I Netherland B.V.(10 per cent)
08:39 GMT

Samsung Engineering said on Wednesday it had won a $3.8 billion contract from Kuwait National Petroleum Company (KNPC) to build the Mina Abdullah I refinery of Clean Fuels Project (CFP).

Despite the chilly relations between the Israeli and Turkish governments and the halt in defense deals, Israeli export of goods to Turkey rose to $4.9 billion in 2013 from $3.5 billion in 2012.
03:55 GMT

"Bloomberg" quotes Turkish Foreign Minister Ahmet Davutoglu as saying that the two countries "are closer than ever to normalizing ties."