Main headlines

February 6, 2014

Jordan’s oil imports from Iraq represent around 10 per cent of the Kingdom’s daily needs
12:55 GMT

Jordan’s oil imports from Iraq have been halted due to security conditions in Anbar province.

Saudi Arabia hopes it $9.5 billion investment in building the new mining industrial city will increase economic growth to the Kingdom (Courtesy of Arabian Industry)
12:00 GMT

Saudi Arabia just signed $9.5 billion worth of contracts to establish a new industrial city in KSA focusing on mining.

Several global automakers have reportedly been considering proposals to set up plants to manufacture cars in the kingdom
10:03 GMT

China is studying whether its automakers could start manufacturing cars in Saudi Arabia to help meet increasing demand.

Tourism, one of Lebanon's biggest industries, has plummeted over the past three years (File Archive)
08:36 GMT

Lebanon's economy is continuing to plummet, particularly in the construction, retail and services sectors according to data from January this year.

Etihad will now fly to seven global regions with the addition of Africa Sub-Sahara and Indian Ocean (File Archive)
08:18 GMT

Etihad Airways is preparing to open a new sales region-Africa Sub-Sahara and Indian Ocean.

The scheme, launched this week, is open to all ADIB customers and comes at no extra charge.
03:55 GMT

Abu Dhabi Islamic Bank (ADIB) is offering a six-month break on repayment installments on personal and vehicle financing in the event of loss of employment to ease the budren on customers as they transition between jobs.

The Gulf Arab state is spending billions of dollars in areas such as transport, electricity and water generation and housing,
03:55 GMT

Qatar plans to spend as much as $205 billion on infrastructure between 2013 and 2018,

On narrow-body planes, both the Airbus A320neo and the Boeing 737 MAX are being considered, he said.
03:55 GMT

Saudi Arabia’s stock market witnessed five new listings in 2013 with a combined value of SR1.96 billion ($523 million).

February 5, 2014

The businessmen claimed that thousands of small and medium-sized enterprises (SMEs) have still not recovered from the financial downturn caused by the unrest in 2011,
18:41 GMT

A group of angry businessmen in Bahrain calling for an end to a mandatory tax on foreign workers has taken their demands to parliament.

The firm said its “business would run as usual” and directors “do not expect any financial implications on the company due to this development”.
18:08 GMT

Oman’s National Gas Co SAOG confirmed on Wednesday that its chief executive had been detained by the public prosecutor over suspected bribery.

Iran and France have the potential to notably increase their bilateral annual trade to $5 billion and more
17:50 GMT

A delegation of more than 100 French companies arrived in Tehran on Monday in the biggest demonstration of western business interest in Iran for more than a decade

The discount of US crude to Brent narrowed on Wednesday to its smallest since mid-October as traders expected the startup of a pipeline from Cushing to refineries on the US.
14:07 GMT

Other analysts saw little to push Brent much higher due to higher output in Libya and the North Sea.

Bahrain Air began voluntary liquidation in early 2013 last year, but bankruptcy is imminent, the airline says (Courtesy of Wikipedia)
11:00 GMT

Bahrain Air is on the verge of bankruptcy a year after it went into voluntary liquidation.

Taxes on cigarettes represent around 75 per cent of the value of the product
09:09 GMT

Cigarette prices went up by 100 fils per pack as of Tuesday under a government decision to raise taxes on tobacco and alcohol.

Dubai's 2020 World Expo is expected to increase UAE's sukuk issuance, adding to its historical record of being the largest issuer of the Islamic bonds in the MENA region (File Archive)
09:06 GMT

The Dubai 2020 World Expo may boost sukuk issuance in the UAE.