Main headlines

April 15, 2014

Oil prices received an additional boost following delays in resuming oil exports from Libya.
03:55 GMT

Crude oil futures rose to the highest level in five weeks on Monday as heightened tensions over unrest in eastern Ukraine fuelled concerns over potential supply disruptions.

Per-capita foreign debt rose significantly from $1,963 in 2002, when the ruling Justice and Development Party (AK Party) came to power, to $5,105 last year
03:55 GMT

Turkey's foreign debt increased $49.9 billion in 2013, breaking national records as the highest single-year increase in foreign debt in the history of the Turkish Republic.

In September 2013, the World Bank removed Iran from its list of deadbeat borrowers, saying the Islamic Republic had paid outstanding loan amounts.
03:55 GMT

The Bank has not lent any new money to Iran since 2005.

April 14, 2014

Egyptian construction tycoon Nassef Sawiris, the youngest among the Sawiris siblings, was the first Egyptian and the fourth on the list with a total worth of $6.7bn.
19:04 GMT

The first spot went to the Kingdom of Saudi Arabia, which had 39 names on the list, while third went to the United Arab Emirates, which had 14.

Kuwait's refining capacity will reach over 1.4 million bpd from the current level of 930,000 bpd, when the projects are completed.
18:45 GMT

The contracts mark the first mega project in the OPEC member's vital oil sector for 25 years.

Ben Gurion Airport expects 1.2 million passengers over the holiday, up 25% from 2013.
17:46 GMT

Despite tense relations, Turkey is the top destination for Israelis this Passover, with 6,300 people planning to spend the holiday there

Washington lawmakers have refused to pass the reforms, claiming they would prove too heavy a burden during a time when the US is still running a large budget deficit.
17:29 GMT

The US is responsible for delaying long-awaited IMF reforms, Saudi Finance Minister Ibrahim Al-Assaf told Asharq Al-Awsat on the sidelines of the Spring Meetings of the IMF and World Bank in Washington, DC on Saturday.

Iran will build six oil refineries in Indonesia's Benten and West Java regions (File Archive)
11:00 GMT

Iran has agreed with Indonesia's leadership to construct six oil refineries in the Asia Pacific country.

Dubai International Airport has the most passenger traffic of any airport in the entire world (File Archive)
08:44 GMT

Renovations at Dubai's International Airport will force at least eight airlines to move their operations to the emirate's second airport until the overhaul is complete.

“We will focus on the country’s historic strategy, which is to supply international markets with oil, especially the challenges facing the market as well as the future role of the member states of Opec.”
03:55 GMT

The UAE is set to raise its production capacity to 3.5 million barrels per day aimed at keeping a market balance.

 Kuwait last week contributed $2.5 million towards UNDP’s emergency support in Syria and neighbouring countries.
03:55 GMT

This year Kuwait contributed $500 million, and last year it contributed $300 million.

The German government will not approve a reported deal to sell up to 800 battle tanks to Saudi Arabia,
03:55 GMT

The sale of the Leopard-2 tanks had been billed as one of the biggest deals for the German armaments industry, Bild reported.

April 13, 2014

The committee has exempted pharmacies, gas stations, coffee shops and restaurants with special permits from the decision.
21:13 GMT

Sources close to the committee expected the closure of shops to be effective before the advent of Ramadan in early July

Oil is a big contribution to Iraq's economy (File/AFP)
15:00 GMT

Iraq's Ministry of Oil is planning to export 300 oil barrels internationally.

Dubai welcomed over 10 million tourists in 2013 (File/AFP)
14:00 GMT

Dubai has been nominated in the TripAdvisor Traveller Choice Awards as one of the best places to visit in 2014.