Main headlines

January 29, 2014

The number of passengers reached 6,264,368 in 2013 compared to 5,960,414 in 2012
08:15 GMT

Rafik Hariri International Airport registered over 5 percent growth in the number of passengers in the year 2013, the General Directorate of Civil Aviation.

Providing further studies on the economic consequences of cutting aid, Dcode mentioned that increased imports of military equipment would exert pressure on foreign currency resources in short-term.
03:55 GMT

“On a per capita basis, total US aid to Egypt decreased from $44 in 1991 to $18.5 in 2013, the lowest compared to Jordon and Israel,” according to Dcode.

January 28, 2014

Samsung extended its lead as the world’s biggest vendor, accounting for 31.3 per cent of sales, ahead of Apple’s 15.3 per cen
21:50 GMT

The smartphone market hit a milestone in 2013 with more than a billion shipped, a survey showed on Monday.

Lebanon topped Ford’s ranking of Middle Eastern countries in terms of sales growth (Courtesy of the Economist)
14:51 GMT

Ford Middle East posted record sales in 2013 with 85,000 cars sold, thanks in many ways to its top consumers in Lebanon.

UAE's Central Bank released the new data this week (Courtesy of Emirates 247)
13:54 GMT

The United Arab Emirates central bank's foreign currency assets fell to Dh269 billion ($73.2 billion) in October 2013 from $284.3 billion the previous month, representing the largest fall since 2009.

Saudization programs have so far created about 600,000 jobs for citizens
09:36 GMT

The Saudi government’s rising investment in infrastructure projects in the Kingdom would create nearly 2 million direct and another 2.5 million indirect jobs, local media.

Despite the militant violence plaguing Iraq, the economy has managed to keep expanding on the back of oil output
08:31 GMT

Iraq plans to establish a state-funded investment bank to help finance big infrastructure projects and steer money towards private sector companies which need it.

Wooler that demand for hotel rooms in Dubai is strong but there is a danger that Dubai will not be affordable for many people.
03:55 GMT

Hotel guests will soon have to pay a “tourism dirham”. It is a fee that will be imposed on guests staying at hotels and hotel apartments in Dubai.

January 27, 2014

The communications equipment and other items are being funneled for now only to non-armed opposition groups, said the US officials.
19:32 GMT

The US officials, who were not authorized to speak publicly on the matter and demanded anonymity, said the aid was being sent through Turkey into Syria.

For months the central bank has been under strong pressure from the government, itself caught in a swirl of internal pressures, not to raise interest rates to bolster the lira.
19:15 GMT

Turkey ramped up its defence of the lira on Monday when the central bank announced a crisis meeting after currency intervention failed to support the currency.

This exceptional auction will help in depreciating the value of US dollar against the Egyptian pound, Fahmy added.
16:42 GMT

Banking and economic expert Bassant Fahmy explained that the move is aimed at limiting the authority of exchange companies.

The delegation will be comprised of representatives from French automotive, oil, banking, and transportation sectors.
16:28 GMT

Former French ambassador to Iran Francois Nicoullaud told Reuters those French firms that operated in Iran before the sanctions wanted to return.

The draft budget projected a deficit of about 21 trillion Iraqi dinars
10:17 GMT

Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury – or loses its share of state spending.

The government increased the special tax imposed on mobile phones from 8 per cent to 16 per cent
08:55 GMT

Revenues of the country’s telecom sector have dropped by 9 per cent since the government increased taxes on cellular phones and mobile subscriptions.

Hero is the number one motorcycle company in India and the world (File Archive)
08:28 GMT

The widely popular Indian motorcycle brand Hero has been launched into the Egyptian market.