Main headlines

May 25, 2014

Major sovereign wealth funds in the Middle East and Asia have invested in Russian businesses and backed its state-funded private equity fund.
11:08 GMT

Sovereign wealth funds in China and Qatar signaled their increased commitment to Russia, boosting Moscow’s hopes of strengthening ties with Asia and the Middle East as relations with the West deteriorate.

The Ministry of Civil Service in cooperation with the Ministry of Higher Education announced that 6,494 education jobs are available for Saudi youth.
03:55 GMT

Last week, the King approved a five-year plan worth more than SR80 billion ($21.33 billion) to develop the education sector.


Saudi Energy 2014 will serve as an ideal platform for energy professionals, government officials, investors and both local and regional buyers.
03:55 GMT

Saudi Energy 2014 is set to surpass the success of the 2013 edition that gathered 7,564 visitors.

Sharjah is the third-largest member of the UAE in terms of population, GDP, and geographic area.
03:55 GMT

The affirmation primarily reflects the solid growth in Sharjah’s GDP per capita.

May 24, 2014

During the meeting Kuwaiti Minister of Planning and Development Affairs, Hind Alsubaih, proposed the establishment of a pan Gulf research centre for planning and development
01:05 GMT

The UAE has called for increased coordination between GCC member countries to achieve economic integration in the region.

May 22, 2014

As part of the agreement, Bright Food is committed to keep Tnuva center of operations in Israel including management, production and development.
00:06 GMT

The Chinese government company is buying control of the Israeli food conglomerate at a company value of NIS 8.6 billion ($2 billion).

The Australian and International Pilots Association said the claims of support from the royal family needed to be checked and action taken to level the playing field.
17:25 GMT

Citing what it said were leaked documents prepared for prospective financiers in 2011, the newspaper said the loan for the state carrier required no repayments until 2027.

EBay shares fell as much as 3.2 percent after the latest high-profile hacking attack on a US company.
15:08 GMT

E-commerce company eBay said client identity information including emails, addresses and birthdays was stolen in a hacking attack between late February and early March.

The nomination of Alawi (the Owner of Red Sea Mall) was realized during the board meeting of the ICSC in Las Vegas.
13:23 GMT

Alawi is the owner of Red Sea Mall, considered to be the destination for entertainment and shopping in Jeddah.

Estimation of the uranium resources in the central region are expected to increase as more exploration is carried out by JUMCO in the 350sq.km area.
03:29 GMT

The plant, he said, will have a capacity of 300-400 metric tonnes per year and can be expanded to 1,500 metric tonnes per year at a later stage.

According to the Central Bank of Egypt, tourism is ranked second in terms of most important sources of income for Egypt after remittances from Egyptians abroa
02:17 GMT

Average of 663 cubic metres of water allocated per person; amount expected to drop below 582 cubic metres by 2025

May 21, 2014

 One of the biggest project approvals was for Aldar Properties’ Al Raha Beach East Master Plan.
21:33 GMT

The Abu Dhabi Urban Planning Council gave its approval to 13 development projects covering over four million square metres in the first quarter of the year.

In September 2013, the World Bank removed Iran from its list of deadbeat borrowers, saying the Islamic Republic had paid outstanding loan amounts.
04:55 GMT

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

Subsidies also rose more than fourfold, from $4.1 billion to $18 billion during the same period, an annual growth rate of 23 percent, Hamada said.
03:55 GMT

Kuwait has boasted a budget surplus in each of the past 14 fiscal years, helping to increase its sovereign wealth fund to over $500 billion

“The peaceful nuclear energy plays an important role in the future of our nation; these stations will provide us the electricity we need to meet our requirements.”
02:32 GMT

The new simulators are among the world’s most advanced nuclear training devices and the first of their kind in the Middle East.