Main headlines

January 21, 2014

The 17-member Gas Exporting Countries Forum (GECF) may see more countries joining it with many Asian, Latin American and African countries expressing interest.
03:55 GMT

Asserting that gas is going to be the basic source of energy for this century, Adeli, an eminent economist, said there was no reason why countries should decrease investments in conventional energy sources.

January 20, 2014

The banks say that at foreign institutional investors, especially in Europe, investment committees decide on investments, and that human rights is one of the considerations about an investment in a particular share
22:38 GMT

The "Financial Times" reports that Dutch and Scandinavian pension funds are considering divesting from Israeli banks.

The 60-square-km archipelago, comprising over 200 islands laid out in the shape of a world map, was created from millions of tonnes of sand and rock
22:08 GMT

Lying about five kilometres (3.1 miles) off mainland Dubai in the Gulf, it will feature classic Italian, Spanish and German architecture as well as landscaped gardens and streets that in some cases will be lined with artificial snow, the company said.

“The ministry has a zero-tolerance policy towards the import and sale of Israeli products and if there are Israeli potatoes in the stores, there will be stringent action against those involved,” the sources said.
21:01 GMT

Kuwait’s commerce ministry has launched an investigation into reports that Israeli potatoes were being sold in cooperative societies.

The Renault Fluence is the number one selling European model in Saudi Arabia (Courtesy of UK Motoring)
10:38 GMT

Renault Middle East reported that its sales in the GCC increased 19 percent in 2013, maintaining its status as the number one European brand in Saudi Arabia and Oman.

The first Saudi Arabia-based IHOP opened in Jeddah this week (Shutterstock)
08:51 GMT

California-based IHOP opened its first Saudi Arabia branch in Jeddah this week.

Qatar’s tight rental market has made it the most expensive country to live in the GCC, Arabian Business comprehensive analysis on the cost of living in the region reported.
03:55 GMT

The Cost of Living Report (CLR) noted that in a like-for-like comparison of seven measures, Qatar came out the most expensive overall, followed by the UAE, Saudi Arabia, Bahrain, Oman and Kuwait.


The debts of BP to Iran has not published officially yet, but Shell said in March 2013 that it has $2.3 billion debts to Tehran.
03:55 GMT

The British companies say they will return to Iranian projects once the sanctions imposed on the country's oil and gas sector are completely lifted.

But the subsidy reductions could hurt the fragile economy, which is heavily reliant on tourism, agriculture and remittances from Moroccans living abroad.
03:55 GMT

The cash-strapped North African kingdom is under pressure from the International Monetary Fund (IMF) and the World Bank to cut spending and reform subsidies

Supreme organising committee chairman Shaikh Abdulla bin Hamad Al Khalifa said he was amazed how successful the event had been.
23:01 GMT

Bahrain is bracing itself for huge investment in its aviation sector after a tripling of business at this weekend's Bahrain International Airshow (BIAS 2014).

January 19, 2014

Dubai is ranked first in the region for its hospitality industry (Shutterstock)
10:37 GMT

Dubai is now leading the region in the hospitality industry.

Bahrain's King Hamad made the announcement this week about the proposed establishment of the Space Research Agency (Courtesy of Trade Arabia)
09:54 GMT

Bahrain is planning to set up a space research agency in its effort to "take advantage" of out-of-this-world technology developments.

The 50 percent increase is supposed to in part target elderly pensioners who comprise a significant percentage of the nearly 1.4 million poor families eligible for the new benefits (Courtesy of the Los Angeles Times)
08:08 GMT

Egypt's government has approved a 50 percent increase for social security pensions in order to benefit more than 1.4 million poor families in the country.

Meanwhile, diplomats said that providing the amount would not be an issue, because many IAEA member states have already expressed their willingness to help.
03:55 GMT

The International Atomic Energy Agency (IAEA) says it needs an additional amount of about six million euros for activities related to the implementation of a recent deal on Iran’s nuclear energy program

he EU also will suspend bans on trade in gold, precious metals and petrochemical products while increasing a ceiling on financial transfers not related to remaining sanctions
03:55 GMT

The EU foreign ministers will announce the move in Brussels as soon as inspectors from the UN's nuclear watchdog, the international Atomic Energy Agency (IAEA), confirm that the agreement started to be carried out,