Main headlines

February 10, 2014

US-based Reef Worlds is planning to invest $3 billion in underwater tourism in the UAE (Courtesy of The National)
12:58 GMT

US-based developer Reef Worlds announced plans this week to build underwater cities and tourism sites near Dubai.

Oman plans to invest $1.3 billion in fisheries development up to 2020 (Courtesy of the BBC)
11:14 GMT

Saudi Arabia and Oman are "on top of the wave" of the Gulf's aquaculture industry.

Average annual salaries in Egypt in the fiscal year 2012/13 reached LE26,161 ($3,756)
08:44 GMT

Egypt's consumer confidence index rose in January 2014 on the previous month, according to data released Sunday from the cabinet's think tank, the Information and Decision Support Centre (IDSC).

The new projects will create more than 25,000 new jobs in the region
08:26 GMT

RP Group of Companies, a diversified global business conglomerate with strong business interests in the Gulf region and India, has announced ambitious growth plans, including Dh4 billion ($1 billion) worth of investment in new hotel and mixed-use projects in the UAE.

Currently there are 350 taxi vans exclusively deployed in Dubai airports to serve arriving passengers around the clock
08:09 GMT

Dubai transport authorities have announced plans to deploy only the seven-seater family-size taxis at the emirate's airports.

Both exports and revenues declined in 2013 compared to the previous year despite efforts to increase sales, a drop attributed by the oil ministry to periods of bad weather and poor maintenance, but also to sabotage against the country's main northern pipeline.
03:55 GMT

"Iraq and the United States are embarking on a significant new area of cooperation."

Both exports and revenues declined in 2013 compared to the previous year despite efforts to increase sales, a drop attributed by the oil ministry to periods of bad weather and poor maintenance, but also to sabotage against the country's main northern pipeline.
03:55 GMT

"Iraq and the United States are embarking on a significant new area of cooperation."

Iran's Petroleum Minister says it plans to introduce by June a new generation of oil contracts that are more attractive to investors.
00:41 GMT

He said the new contracts are designed for the "post-sanction era," but did not provide details.

00:23 GMT

Hybrid auto imports increased by nearly sixfold last year compared with 2012, according to official figures.

February 9, 2014

Saudi Arabian Airlines signed an agreement with Boeing that will allow the two aviation companies to collaborate on defense and commercial air initiatives in the future (File Archive)
13:00 GMT

Saudi Arabian Airlines signed an agreement late last week with Boeing that will encourage partnerships between the two companies within the fields of defense and commercial aviation.

UAE companies’ foray into international markets is in fact following international trends
10:55 GMT

Consumer product companies in the UAE expect the most expansion internationally in the next one to two years as businesses in Middle East.

Saudi Arabia has invested more than $8 billion in Turkey's economy (File Archive)
10:22 GMT

Despite Turkey's recent and growing economic woes, Saudi Arabia is still investing up to $8 billion in Ankara's businesses, according to recent data.

2014 to be expected another positive year for real estate sector in the UAE, Dubai in particular
09:41 GMT

There will be tremendous demand for offices and commercial properties in Dubai this year, due to the rising confidence in both the emirate’s economy and the real estate sector.

Bahrain and Jordan are the only two countries that have fully liberalised their telecom sectors according to World Bank standards (File Archive)
09:40 GMT

Jordan and Bahrain are the only two countries in the MENA region that have fully liberalised their telecom sectors, according to a recently released World Bank report.

It said that last year, GDP in Palestine grew by 1.5 percent.
03:55 GMT

The International Monetary Fund said Thursday that success in Middle East peace talks could boost Palestinian economic growth while failure could cause increased debt.