Main headlines

December 30, 2013

The KhalifaSat will be the third after DubaiSat1 and DubaiSat2, which have been built in Seoul, under a knowledge-sharing arrangement with the South Korean company Satrec.
03:55 GMT

“We have launched today, thanks Almighty Allah, executive steps to build the first UAE-made satellite, the first such breakthrough in the Arab world,” Shaikh Mohammad told millions of his twitter followers.

December 29, 2013

The association aims to provide investment opportunities for Saudi investors in Egypt and to resolve the obstacles facing foreign investment, Secretary General of the association Ahmed Darwish said in the statement.
14:36 GMT

A number of Saudi investors in Egypt have faced hurdles as projects stalled following January 2011 revolution, but the the aim is to make these hurdles part of the past through establishing a new association.

The Saudi retail sector index jumped over 50 percent in the first nine months of 2013 (Shutterstock)
14:09 GMT

Saudi's retail sector was reported to be one of the "best performing sectors" in Saudi markets in 2013.

China is expected to overtake the United States in 2028 to become the world’s largest economy, according to a research report.
13:46 GMT

Perhaps it's time for Middle Eastern economies to start preparing for a shift in allegiances.

With the help of KSA comedian Bader Saleh, 7UP hopes its new campaign will bring laughs--and profits--for the soda brand (Courtesy of You Tube)
12:56 GMT

7UP is partnering with Saudi comedian Bader Saleh as part of its new campaign to market the Pepsi product to young KSA consumers.

Over 98 percent of malware viruses target Android users in Jordan (Shutterstock)
12:26 GMT

Recent reports released this week show that Jordan is a high risk country for malware infections, with 98 percent of the IT viruses targeting Android users.

Harvard Business Review is now available in Arabic due to the prominent journal's collaboration with a UAE-based conglomerate (Courtesy of Harvard Business School)
11:59 GMT

Harvard Business Review will now print its Management Section in Arabic.

Pearl has been identified recently by Dubai Exports among a number of product categories that can help boost the emirate’s exports and industrial sector. (Image credit: Shutterstock)
07:21 GMT

While the pearl trade across the UAE has grown at an average of 15 per cent in the last four years, experts believe that pearl business should receive better support from the government.

The committee's tasks will involve reviewing the associations' accounts and businesses and writing reports on their activities and financial positions.
03:55 GMT

The cabinet has recently decided to form a committee to manage the Muslim Brotherhood's funds pursuant to a court ruling that bans the organisation and freezes its funds.

Four Gulf states — Qatar, Saudi Arabia, Kuwait and the UAE — agreed in 2012 to provide aid worth a total $5 billion to Morocco in the period 2012-2017.
03:55 GMT

The deal is part of a five-year package of financial assistance extended by four gulf states to help the kingdom weather the 'Arab Spring'

December 27, 2013

Jeddah authorities are planning to spend $160 million in 2014 to ease traffic woes for its residents (File Archive)
12:00 GMT

KSA's Jeddah announced that it will spend $160 million to ease traffic congestion in its metropolitan area.

December 26, 2013

Last December, Toyota said it had agreed to pay about $1.1 billion (€800 million) to settle a class action lawsuit launched by US vehicle owners affected by the series of mass recalls from the automaker.
15:30 GMT

A fatal crash involving claims of unintended acceleration sparked huge global recalls and badly dented the company’s reputation for safety.

But Gulf stocks are no longer as cheap as they were relative to the rest of the world, and some economic shifts may not be ideal for markets.
15:10 GMT

The Gulf region is gradually becoming a mainstream investment destination for international funds.

The BMW 7-Series V12 Bi-Turbo Special Edition can accelerate from 0 to 100 km/h in 4.6 seconds and can reach a top speed of 250 km/h (Courtesy of Car Scoop)
13:18 GMT

the BMW 760Li V12 M Bi-Turbo was launched on the Saudi Market this week.

Governments are now issuing sukuks to finance their debts (File Archive)
12:44 GMT

Forecasts show that sukuk issuance in the GCC is set to soar in 2014 with more government and companies investing in the Islamic bonds in order to cut financing costs.