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March 5, 2014

The minister will also review the ministry’s future projects in the tourism sector and the government’s efforts to address the sector’s current predicament.
03:55 GMT

The ministry will aim to “correct the image of the security situation in Egypt and encourage tourists to return

The developer, which gave away yachts and sports cars to buyers of its luxury properties during the downturn, said it booked sales worth $2.5 billion in 2013, compared with only $661 million the previous year.
03:55 GMT

The developer, which gave away yachts and sports cars to buyers of its luxury properties during the downturn, said it booked sales worth $2.5 billion in 2013, compared with only $661 million the previous year.

March 4, 2014

But in the business world, women are gradually coming to enjoy greater opportunities, partly because of heavy government spending on women’s education including state-funded scholarships to foreign universities.
21:13 GMT

Saudi Arabia’s National Commercial Bank (NCB) has appointed Sarah Al-Suhaimi as chief executive of its investment banking arm.

Egypt's foreign reserves decreased between August 2013 and January of this year (File Archive)
16:57 GMT

Egypt's foreign reserves have increased for the second consecutive month, with a net amount of $17.3 billion at the end of February reported by the Central Bank of Egypt this Tuesday.

US billionaire Bill Gates reclaimed his top spot on the list after a four-year hiatus with a net worth of $76 billion, adding $9 billion to his wealth last year.
15:16 GMT

In its list this year, Forbes features a total of 1,645 billionaires with an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago.

Abu Dhabi will use SCOOT, a traffic system used in more than 120 major cities worldwide to manage transportation flows in the city (File Archive/Shutterstock)
14:37 GMT

Abu Dhabi's Department of Transportation has begun work on its nearly $9 billion adaptive traffic control central system.

Inflation is set to rise in all countries in the GCC except for Bahrain who is bucking the trend (File Archive/Shutterstock)
14:17 GMT

All GCC economies with the exception of Bahrain are expected to see a rise in inflation this year, according to Moody's Investor Service this week.

The Dubai Water Canal project will pass through the heart of Dubai in a course extending three kilometers
09:27 GMT

Dubai’s Road and Transport Authority (RTA) will take up a number of top projects in 2014, including the Dh2 billion ($544 million) water canal project, which will link the Business Bay in Dubai with the Arabian Gulf.

A comprehensive nuclear deal between Iran and six major world powers over Tehran’s nuclear energy program is possible by the end of July
08:44 GMT

Iranian Foreign Minister Mohammad Javad Zarif says a final settlement to the decade-old dispute over Iran's nuclear energy program would be possible within the next five months.

Bargain-hunters could be quick to return as soon as military tensions ease, he added.
03:55 GMT

Gulf stock markets slid on Monday as a heightened threat of armed conflict between Ukraine and Russia triggered widespread selling, despite the benefit of higher oil prices to Gulf energy exporters.

Among the main products to suffer a drop in exports, according to CAPMAS, were petroleum products, fresh fruits and liquefied propane.
03:55 GMT

The figure represented a 12 percent drop compared to the same month in 2012, when the deficit stood at LE26.7 billion ($3.8 billion).

March 3, 2014

In 2013, Jordan’s exports to Iraq went up by 23 per cent, amounting to JD884 million while its imports from Iraq totalled JD269 million
18:54 GMT

They discussed means to boost economic relations between the two countries and their private sectors, in particular.

The procurement process for the projects starts immediately.
18:43 GMT

QDB will provide 70% of the investment for each project with a maximum loan of QR100mn

The richest Israeli is Eyal Ofer in 191st place with a fortune of $7 billion.
17:14 GMT

There are 18 Israelis in "Forbes" 2014 Billionaires list, which was published today.

"Oil markets are reacting on the potential that the situation could worsen," said Ben le Brun.
16:36 GMT

Ukrainian Prime Minister Arseny Yatseniuk said Moscow's move to use military force was a "declaration of war" by Russia, one of the world's biggest oil producers.