Main headlines

April 28, 2014

Etisalat is acquiring a 53 percent stake in Maroc Telecom (File Archive)
11:00 GMT

UAE's lead telecommunications operator Etisalat signed a multi-currency club deal worth $4.35 billion with seventeen banks to fund its acquisition of Vivendi.

The luxurious Viceroy hotel on Yas Island in Abu Dhabi. (Image: Facebook)
08:12 GMT

Viceroy Hotel Group plans an aggressive expansion in Dubai after announcing two more hotels!

Construction of a dam on the Karun River in Iran. (Image: Foros.embalses.net)
07:30 GMT

Iran's Energy Minister is warning of the serious water-shortage crisis his country is going through.

Cohen says, that, over the past five years, Israel has been expanding trade attaché offices in Asia and Africa at the expense of its presence in Europe, and that this trend will continue in the coming years.
03:55 GMT

For the first time, in 2014, Israeli exports with Asia will exceed trade with the US, pushing it from second to third place (behind the EU).

The units are part of the government’s social housing programme, adopted after the 25 January Revolution, which aims to offer 1m residential units to low-income citizens.
02:10 GMT

Under the supervision of the Engineering Authority of the Armed Forces, more than 6,000 residential units have been constructed in Borg Al-Arab in Alexandria.

Iran-Russia trade currently totals $5 billion a year, but economists say the two countries can at least quadruple the volume of their trade exchanges.
01:50 GMT

Iran and Russia are negotiating to sign a deal, worth about $10 billion, to boost bilateral ties in the power sector.

Upon completion, it is expected to provide 40,000 housing units across four districts that will house 200,000 to 250,000 people
01:41 GMT

“The Shores of Karbala project is one of the largest of its kind in Iraq."

April 27, 2014

While some shoppers considered counterfeit goods as a solution to counter the monopoly of original commodities that are very costly, others stressed the importance of increasing inspections to combat commercial fraud and counterfeiting.
00:21 GMT

Many traders have expressed their concern over fake and duplicate items in the local markets, while shoppers justified their need to buy such items since original items cost far too much because of monopoly trade practices.

Saudi Arabia captures approximately one-fifth (or $5 billion) of the global diamond trade (Shutterstock)
12:00 GMT

The Saudi market has captured seven percent of the global trade and business in diamonds.

Bahrain has also been in the process of implementing reforms for expatriate worker rights (File Archive/AFP)
10:35 GMT

Employers that are caught hiring illegal workers will now be blacklisted in Bahrain under Manama's new policy.

“The size of the Lebanese banks in Iraq maybe too small compared to the huge Iraqi market. Iraq’s seven state-owned banks have 80 percent of assets and 90 percent of total deposits in the country. However, we are going to the Iraqi market to serve new clients,” Bassil said.
03:55 GMT

Central Bank Governor Riad Salameh said he was looking forward to increase cooperation with Iraq in organizing the banking sector and strengthening supervision and money laundering protections.

Rouhani's first attempt at implementing subsidy reform was a disaster.
03:55 GMT

"Of course I don't want prices to go up, but the reality is that the prices have to become real," said a 30-year-old communication specialist in Tehran. "But I expect more services from the government in return, such as health and transportation."

The meeting focused on the economic policy issues of the two sides, exploring trade opportunities and boosting of trade ties between them.
02:09 GMT

The 5th UAE-US Economic Policy Dialogue, attended by government representatives of both countries, has concluded in Abu Dhabi.

April 26, 2014

Microsoft said it will acquire some 25,000 Nokia employees in 50 countries.
02:26 GMT

More than 4,000 in Finland will transfer to Microsoft and the Nokia headquarters in Espoo, near the Finnish capital, Helsinki, will be taken over by the US giant.

The dispute is delaying publication of an oil and gas exploration tender for Lebanon's Block 9, which could have more than seven trillion cubic feet of natural gas.
02:17 GMT

Talks on solving the dispute between Israel and Lebanon over the border of their exclusive economic zones (EEZ) are on the rocks