Main headlines

January 2, 2014

The online booking on the company’s website yields ‘no flights available’. (Image credit: Shutterstock)
07:19 GMT

Confusion reigns among travel agents and passengers of RAK Airways after the low-cost airline announced the suspension of all operations from January 1.

 India and Saudi Arabia will soon finalize a Standard Employment Contract to ensure a smooth relationship between the employer and the employee, according to a senior Indian minister.
04:48 GMT

India and Saudi Arabia will soon finalize a Standard Employment Contract to ensure a smooth relationship between the employer and the employee, according to a senior Indian minister.

Kuwait decided for the second year in a row to transfer 25 percent of revenues into the emirate’s sovereign wealth fund, the assets of which are currently estimated at over $400 billion.
03:55 GMT

The main reason for the sharp drop in surplus is a 50 per cent jump in spending to KD5.1 billion by the end of September from KD3.4 billion a year ago, the official data showed.

Healthcare Minister Maha al-Rabat said that an emergency plan is being prepared to ensure that medical services are provided normally and not affected by the strike.
03:55 GMT

The Doctors Syndicate announced that the strike would take place as the government continues to ignore healthcare problems that doctors face, in a statement issued Tuesday.

January 1, 2014

The former head of defunct New York law firm Dewey & LeBoeuf has become the top legal adviser to the government of Ras al Khaimah, according to an internal government memo.
17:12 GMT

Steven Davis, who was blamed by some of his former Dewey colleagues for mismanaging the law firm by giving outsize pay guarantees to lawyers, will be chief legal officer of the Middle East government.

In the latest instance of a Silicon Valley tech company being drawn into the shadowy activities of the National Security Agency, Apple (AAPL) on Tuesday denied any involvement in the spy agency's alleged efforts to hack into and monitor iPhones.
15:37 GMT

According to leaked documents, shared publicly by Der Spiegel and security researcher Jacob Appelbaum, the NSA's program lets the agency do a wide range of things on someone's iPhone, including reading text messages and personal contacts

2013 was a year of gains for GCC stocks. (Image credit: Shutterstock)
08:08 GMT

GCC stock markets closed 2013 on positive note Tuesday, with all the benchmark indices registering gains at close of trading.

Abu Dhabi is building the region's first Green Road to Dubai in 2014 (File Archive)
06:00 GMT

Abu Dhabi's Department of Transport will build the first green road in the Middle East during 2014. The road, which will connect the capital to Dubai will be ready for use by early 2015.

Egypt's annual inflation rate increased to 12.9 percent in November (File Archive)
05:00 GMT

Egypt's pound lost 9 percent of its value throughout 2013 against the dollar.

The airline received 24 new aircraft in 2013 as well ordered 200 new planes including 150 Boeing 777Xs and 50 A380s valued at $99 billion (Dh363.57 billion) at the Dubai Airshow in November
03:55 GMT

Travelling more than 751 million kilometres and with the earth’s equator circumference 40,075 kilometres, Emirates said yesterday its fleet circumnavigated the earth 18,753 times.

December 31, 2013

Saudi Arabia’s oil exports hit 2.66 billion barrels in 2013.
18:48 GMT

According to the IEA data, oil production from non-OPEC countries, led by the US Canada and Brazil, will increase to 56.5 million barrels a day by 2014, he added.

The world’s second busiest international hub recorded another month of high growth in November by handling 9.5 per cent more passengers to cross six million passenger mark, says a report issued by Dubai Airports.
18:23 GMT

Dubai International airport is on track to surpass its own traffic forecast of 65.4 million for the year, as it recorded 11 consecutive months of significant growth in 2013, according to latest data.

“And, with low inflation pressures, there is still some downside risk for gold as long as the stock market remain relatively robust.”
17:16 GMT

Gold fell in thin holiday trade, heading for its biggest annual loss in more than three decades at nearly 30 percent.

Tentative plans for the terminal at Ras Al Hadd Airport in Oman (Courtesy of Construction Week Online)
11:50 GMT

Oman's Ministry of Transport and Communications cancelled tenders this week to select a contractor for its Ras Al Hadd airport.

Jaguar unveiled its C-X17 Sports Crossover Concept at the Dubai International Motor Show 2013 (Courtesy of Automobiles Review)
11:00 GMT

Jaguar is scheduled to start producing mid-sized sports sedans in the Middle East in 2015.