Main headlines

June 18, 2014

The Arabtec saga dragged down the Dubai stock market and illustrated the opaque nature of corporate affairs in the region.
15:03 GMT

The chief executive of major Dubai construction firm Arabtec resigned on Wednesday after a tumultuous six weeks during which the company's share price plunged as much as 50 percent;

"Payment difficulties do come up and it is not a straightforward place to trade with, but deals to Iran are still being done," another European grains trade source said.
14:22 GMT

Iran is not barred from buying food or other goods for humanitarian purposes under sanctions imposed over Tehran's pursuit of nuclear technology.

A significant change in borrowing behaviours reflects a more prudent approach in the UAE.
14:15 GMT

Borrowers dropped to 28%, says Department of Economic Development

The market has been mainly driven by tourism growth (nine to 10 per cent) while the resident market has been growing but at a slower rate.
08:23 GMT

The GCC luxury goods market has continued to grow fast.

Baghdad’s warnings have not deterred the Kurds so far.
08:15 GMT

“They pushed us to do this,” Hawrami said. “We’re going to create facts on the ground... Don’t ask me to surrender my rights into your hands.”

On a regional level, the report reveals that private financial wealth grew by 11.6 percent to reach $5.2 trillion in 2013
04:55 GMT

Qatar ranks first in the world with the highest density of millionaires, with 17.5 percent holding private wealth of at least $1 million, according to a new report.

June 17, 2014

Some of the possible company targets include Kuwait Oil Company, Petroleum Development Oman, Qatar Petroleum, Saudi Aramco, ADNOC, ENOC and Bahrain Petroleum Company.
12:12 GMT

The threat, made by Anonymous, a politically motivated group of hacktivists, states that they are planning to attack before, during, and after June 20, 2014.

“Particularly in terms of ways to discourage quick turnaround – what people refer to as flipping of real estate in Dubai.”
11:41 GMT

In Q1 2014, there were around 13,279 individuals carrying out property transactions, up 81 per cent compared to 7,339 during the same period last year.

Imports of oil from Iran often swing widely from month to month as one of South Korea's two refiners to import Iranian oil usually buys the crude only every other month.
04:55 GMT

South Korea and other Asian buyers are supposed to hold their crude imports from the OPEC member at end-2013 levels under the terms of the Geneva accord between Iran and six major powers.

June 16, 2014

This Super Amoled tablet comes wrapped up in a highly stylish yet practical design.
22:52 GMT

The Galaxy Tab S is made for entertainment and comes packed with a variety of content including: Samsung’s magazine service, “Papergarden”, Galaxy Gifts, “Marvel Unlimited” app and Kindle.

"The young men and women will receive fringe benefits including good salaries, financial incentives and vocational training," he said.
22:30 GMT

Only 1,760 young Saudi men and women applied for 11,751 vacancies made available by 70 private companies and establishments in the Saudi capital.

Escalating violence in Iraq drove crude oil and the dollar higher on Friday while damping the appetite for global equity markets, even as bullish news from the US tech sector lifted stocks on Wall Street.
03:55 GMT

Brent crude edged above $113 a barrel, up more than $4 this week, on concerns that an insurgency in Iraq could trigger civil war and eventually crimp oil exports.

In Dubai, property developer, Arabtec, dropped the most allowed to reach a share price of Dh4.50.
03:55 GMT

Most markets in the Middle East and North Africa region ended the day’s trade in the red because of the Iraqi conflict.

June 15, 2014

The OPEC meetings since 2012 have produced no policy change.
19:45 GMT

Saudi Arabia has suggested OPEC meet just once a year, rather than twice, a sharp reduction from the days when the group met for up to seven times a year in the early 2000s.

Morocco has raised one billion euros ($0.7 billion) on the international market in a 10-year bond at 3.5 per cent
19:40 GMT

The 3.5 per cent loan rate is less than that obtained on the dollar market in 2012-2013, showing the "confidence in Morocco's economic and political stability”.