Main headlines

June 11, 2014

The US had set a deadline of July 1 before American banks were to be required to withhold some payments to the financial institutions of countries without a Fatca agreement.
12:33 GMT

The UAE has reached an initial agreement with the US to carry out a financial data-sharing programme aimed at curbing offshore tax evasion by US citizens.

The expansion in GDP was 4 percent for the entire 2013.
12:21 GMT

A fast growth in exports accompanied by a solid domestic and an increase in public investments were the main drivers.

Local authorities in Indonesia, Laos, Philippines and Vietnam announced over 1.6 billion dollars’ worth of investment projects, according to a conference press release.
04:55 GMT

Saudi Arabia’s Saline Water Conversion Corporation announced plans for what would be the world’s largest desalination plant using a technique called reverse osmosis.

Iran plans to boost annual petrochemical output to 180 million tons from around 60 million tons currently.
04:55 GMT

In November 2013, Iranian MP Hossein Sobhani-Nia said China had agreed to use $20 billion of blocked Iranian money to fund development projects in Iran to circumvent the international sanctions imposed on the country.

June 10, 2014

Hilton Worldwide Middle East & Africa recently introduced two of its brands to the region including Hilton Garden Inn and Double Tree Hotel.
12:54 GMT

The 362-key property will be located 97 kilometers from Doha.

Former army chief Abdel Fattah Al-Sisi was sworn in on Sunday, vowing to fix the economy and emphasising a need for hard work by all.
12:04 GMT

Buildings springing up in the densely populated Nile Delta result in loss of farmland and potential damage to irrigation systems.

Since Dubai — home to one of the strongest real estate markets internationally — has become a global player, fees for providing services have to be on a par with the city’s growth and development, said Bin Mejren.
11:09 GMT

Dubai has become home to one of the strongest real estate markets internationally.

The state-backed firm has confirmed plans to ensure that 7,000 taxis are on the roads before the world football tournament gets underway in Qatar.
10:32 GMT

Qatar’s public transportation company Mowasalat plans to more than double its current fleet of taxis by the time the 2022 World Cup comes around, a senior official has said.

Saif says it contributes to 12 per cent of the total national income and provides job opportunities for 10 per cent of the Kingdom’s workforce.
09:44 GMT

The government has allocated around $850 million from the Gulf Cooperation Council grant to start vital transport projects.

The Gulf state is also revising subsidies on electricity, water and petrol, currently sold at well below cost.
09:34 GMT

Last month, the OPEC member's government warned that spending outpaced revenues and this could lead to a budgetdeficit in 2017/2018 after years of surpluses.

Al Gharbi added that the UAE is the happening place where high net worth individuals ask for new concepts in designs keeping in view the green building rules.
05:45 GMT

The Italian firms’ interest in Abu Dhabi market shows growing appittite among government, corporate and individual clients to get the best out of innovators.

June 9, 2014

Meanwhile, El-Sisi showed his intention to visit Ethiopia to stress the importance of cooperation between the two countries.
21:09 GMT

Ethiopian Foreign Minister Tedros Adhanom has invited Egypt's newly-inaugurated President Abdel-Fattah El-Sisi to visit his country, Al-Ahram's Arabic news website reported.

The real estate registration fee in Dubai remains among the lowest worldwide.
20:55 GMT

A complaint has been lodged against a real estate firm for allegedly taking a slice out of transaction fees being collected for the government by doubling the charge to clients.

Although the plans for the construction operations have actually been suspended, the contracts have not been cancelled.
14:32 GMT

In 2009, a joint Iran-Venezuela oil company was established to build a refinery in Syria with a capacity to refine 140,000 barrels of crude oil per day.

“The finance required to implement the projects is planned to be secured through attracting foreign investment,” he added.
13:49 GMT

Iran plans to boost annual petrochemical output to 180 million tons from around 60 million tons currently.