Main headlines

December 17, 2013

Qantas blamed its predicament on record fuel costs and fierce competition from subsidised rivals.
11:45 GMT

Earlier this month, Qantas forecast a half-year loss of up to $269 million and said it would axe 1,000 jobs, leading to a credit downgrade from Standard & Poor’s, which cut its rating to “junk” status.

Sunday’s hearings were postponed to Dec. 26 after defence lawyers sought time to review evidence presented by the prosecution.
10:14 GMT

The charges, mostly involving infrastructure projects, were outlined in six trials that opened on Sunday.

UAE markets are quite strong despite nervousness in global markets. (Image credit: Shutterstock)
06:00 GMT

The real estate, construction, banks and telecom sectors dominate most of the trade.

Palestinian border official Raed Fattouh said Sunday's fuel shipment was paid for by Qatar.
03:55 GMT

A lack of fuel has hampered the rescue efforts in Gaza, where flooding from heavy rains has forced about 40,000 residents from their homes.

Mauritius becomes the 24th A380 destination and Emirates operates a fleet of 42 A380s, with 98 more on order.
03:22 GMT

As part of the capacity increase agreement, Emirates has signed a 10-year ‘commercial co-operation’ with Air Mauritius,

December 16, 2013

With the exception of Saudi Arabia and Egypt, the traded value of Arab equities almost doubled in the first ten months of 2013 led by the UAE and Kuwait, according to a recent research note of Mubasher.
13:28 GMT

The turnover of equities jumped 93 per cent compared to a year ago to $114 billion, said Mubasher Trade in a press statement

Bahrain's oil investments have contributed to 45 percent of the country's output growth this year (File Archive)
11:04 GMT

Bahrain's economy grew 4.6 percent over the past year based on third quarter data.

Kuwait’s Parliament in February formed a special panel to probe allegations of irregularities in awarding the contract and another project to build a causeway.
10:56 GMT

A special company was established for the project in which the winning consortium has a stake of 40 percent and the government holds 10 percent, while 50 percent is to be distributed to citizens as free shares

Cebu Pacific's seat sale promotion will last until Dec. 18 (Courtesy of Wikipedia)
09:23 GMT

One-way tickets between Dubai and Manila are going for a whopping $27 this holiday season!

The new domestic worker law is expected to cover housemaids, cleaners, nannies, cooks, butlers, drivers and gardeners (Shutterstock)
08:52 GMT

Bahrain will implement a unified GCC labor law to regulate domestic workers starting next year, and other GCC countries are expected to follow suit.

Sotheby’s global sales value estimated at $40 billion with 17 per cent  from the GCC region. (Image credit: PR Web)
07:00 GMT

Sotheby’s International Realty, a luxury real estate brokerage agency, is setting up an office in Dubai, entering the market at the right time to catch up with the growing potential of the emirate’s realty sector,

The plastics industry in Saudi Arabia will achieve a production capacity of over 100 million tons per annum. (Image credit: Shutterstock)
06:00 GMT

Recent studies reveal that total investments in the plastics sector in Saudi Arabia have reached $50 billion, affirming the strength of the market.

The majority of MENA economies are expected to grow over the next year partially owing to higher oil production. (Image credit: Shutterstock)
05:00 GMT

Qatar is expected to show the strongest medium term growth.

The Iranian official complained that Pakistan has done little to construct its own section of the project.
 Majedi said Iran has proposed Islamabad seek assistance from European firms to complete the Pakistani part of the pipeline project between the two neighbors.
03:55 GMT

Iran has suspended a USD 250 million loan to Pakistan to build part of a pipeline project for importing natural gas from the Islamic Republic.

NBK is the only Kuwaiti and the only Arab bank to take part in this consortium.
03:55 GMT

National Bank of Kuwait (NBK) is participating in a consortium of international banks to arrange a loan of $1.43 billion to finance the first phase of the Az-Zour North Power and Desalination Project in Kuwait.