Main headlines

November 12, 2013

Inflation in Iran is at a staggering 39%. (Image credit: Shutterstock)
06:00 GMT

Senior officials at the IMF and Iran have met to discuss reforms needed to combat inflation and spike growth in the economy.

More people in the GCC will be swapping out their old bulbs for energy efficient LEDs. (Image credit: Shutterstock)
05:41 GMT

The inflow of infrastructure investments into the region due to an increasing population, and upcoming events such as the 2022 FIFA World Cup is creating such opportunities for the GCC LED lighting market.

Despite regional challenges, Air Arabia posted an impressive growth in revenue for the first nine months of the year. (Image credit: Shutterstock)
05:28 GMT

Air Arabia on Monday declared 14 per cent growth in its nine-month revenues despite continued political instability in regional travel market.

"No country is taking the lead, it is an Egyptian project," said the country's investment minister.
04:55 GMT

Egypt will finalise a tender for the development of the Suez Canal by the end of the month,

Ali stressed that the military institution has no intention of becoming involved in the economic policy of Egypt in the future.
04:55 GMT

“We do not influence the Egyptian economy in any way,” said Ali. “The Egyptian military does own several factories and companies, but their purpose is developmental rather than for profit.”

November 11, 2013

Prince Alwaleed Bin Talal and Kingdom Holding Company invested $300 million in Twitter in 2011 (Courtesy of the Guardian)
09:10 GMT

Saudi Prince Alwaleed Bin Talal and Kingdom Holding Company reported that their combined investment in Twitter increased to 200 percent on the first day of trading.

Abu Dhabi plans to expand its mall space to 798, 966 square meters within the next four years (Courtesy of UAE Style Magazine)
08:54 GMT

Abu Dhabi is projected to expand its retail scene around 798, 966 square meters over the next 4 years.

Bahrain's labor fund Tamkeen offers training budget subsidies to employers to pay increase subsidies for employees who have participated in Tamkeen development trainings (Courtesy of Bahrain News Agency)
08:36 GMT

Bahrain's labor fund Tamkeen has launched an enhanced career progression programme to help employers address performance gaps among their Bahraini employees through training opportunities to allow them "to develop competencies related to their work."

Lufthansa will end all of its flights to Sudan by January 19, 2014 (Courtesy of the Telegraph)
08:06 GMT

German airline Lufthansa announced this week that it will end all direct flights to Sudan in January for economic reasons.

Regional ministers said that Gulf residents are 'taking advantage' of government energy subsidies and opting for vehicles that have big engines and are not fuel efficient (Courtesy of Boston University)
07:20 GMT

Regional ministers blamed energy subsidies in the Middle East as the root cause of excessive energy consumption in the GCC during Sunday's opening day of the Abu Dhabi International Petroleum Exhibition and Conference.

Middle Eastern investors were one of the most active buyers of hotel real estate in 2012 (Shutterstock)
06:56 GMT

Investment in the hotel industry across Europe, Middle East and Africa (EMEA) reached 53 percent in the first 9 months of 2013, with GCC opening 150 new hotels this year to accommodate tourism in the region that is growing at a compound annual rate of 8.5%.

Lack of investing options are holding back the growth of Islamic pension funds. (Image credit: Shutterstock)
06:04 GMT

The pent up global demand for Islamic pension funds is currently between $160 billion and $190 billion.

The return of Iran to the international community would be beneficial for its neighbouring countries including the Gulf Arab states, a top international oil executive has said.
04:55 GMT

Country has significant gas reserves and could play an important role as an energy exporter as global energy demands increase

Earlier this year, KIA said that it has more than doubled its investments in the UK over the last 10 years.
04:55 GMT

London Mayor Boris Johnson has said that the UK will iron out any difficulties faced by Kuwaiti investors interested in British investments, according to Kuwait’s official news agency KUNA.