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August 21, 2014

The company said anyone using a device running version 4.0 of Android, which is about 85 per cent of Android systems in use today, is potentially vulnerable.
23:56 GMT
Smartphone users in the UAE and the rest of the Middle East and Africa region are in danger of having their bank, email and social media accounts hacked, amid reports that some 178 million mobile devices are now potentially vulnerable
 In November 2008 Bank Sarasin made margin calls which the claimants did not meet. Bank Sarasin closed out the investments; with the consequence that the Khorafis suffered substantial losses.
23:28 GMT
The case dates back to 2007 and early 2008, when on the introduction of Sarasin-Alpen, the Khorafis purchased structured financial products from Bank Sarasin.
Sheika Fatima also urged Emirati youth to be rational towards wedding expenditure, saying that overspending often leads to negative effects on family stability.
23:18 GMT
“Mass weddings aim to reduce the expenses of weddings and lift wedding cost pressures from young people and their parents. They also encourage young men to marry early and start building a stable and cohesive family,” she added.
With IT research firm Frost and Sullivan predicting the global cloud market will reach more than $125 billion by the end of the year, the GCC’s cloud computing market is set to grow from $91.7 million last year to $118.5 million by the end of 2014
15:42 GMT
In the UAE, sensitive industry sectors such as the public sector, oil and gas, banking, finance and insurance are all set to drive demand for cloud computing security solutions
“I would still go because I know those places and I know what to wear when going to them,” she said.
15:27 GMT
An attached map singled out Edgware Road, the area between Marble Arch and Tottenham Court Road, and the Oxford Circus and Bond Street area.
Tradition, cultural morays, and family expectations have been the primary constraints on women’s advancement in Egyptian society.
14:46 GMT
Egypt is a society, in which sexism is so ingrained in the economic, social, and political system that 50% of the population has, for the most part, been excluded.
The ministry cancelled the projects due to the grid’s constraints at present and inability to absorb more loads, Hamed said in a phone interview this week.
14:34 GMT
The ministry cancelled the projects after failing to secure funds from Arab Gulf states to finance the expansion of the national grid’s capacity.
Since August 5, conditions in the market have made it less worthwhile to hold shekels, because the Israeli banks were willing to pay almost 1% annual interest on dollar deposits.
13:20 GMT
After the cannons have stopped roaring and an arrangement between Israel and Hamas is emerging, the shekel is suddenly showing weakness.
“Following consumer feedback, we’ve now taken this a step further by bringing our waterproof expertise to a mid-range smartphone for the first time with Xperia M2 Aqua,” he added.
04:55 GMT
Sony has announced the launch of what it dubs ‘world’s most waterproof phone’, the Xperia M2 Aqua, a variant of the mid-range Xperia M2.
“During the past Ramadan and Eid seasons, economic revenues increased as passenger and transportation activity flourished by 50 percent due to the large number of individuals traveling to and from the holy cities.”
04:55 GMT
Saeed Al-Bassami,has revealed that Saudization is one of the main challenges facing the surface transportation sector in the Kingdom.
Jordan Tourism Board CEO Abed Al Razzaq Arabiyat said having “such a magnificent golf course designed by one of the finest ‘Green’ designers in the world as Greg Norman, means a lot to Jordan’s tourism sector.”
04:55 GMT
The 18-hole Ayla grass golf course project was designed by Greg Norman, one of the world’s “leading golf course designers.”

August 20, 2014

A U.S. law called Children’s Online Privacy Protection Act, or COPPA, imposes strict controls on the collection and use of information about children under 13.
21:08 GMT
Internet companies such as Google and Facebook Inc do not offer their services to children under 13, but it is tough to catch users who sign up by providing false information.
 Libya's return to the market has hit oil prices, which slumped to a four-month low in London on Monday before recovering in Asian trade on Tuesday.
20:41 GMT
Libya may be on the brink of chaos but it is gradually boosting output in the vital oil sector after a crisis blocked export terminals for a year.
This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.
20:23 GMT
This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.
“The market is finally showing real signs of recovery and prospective growth suggesting that the construction market will remain strong this year,” he added.
19:55 GMT
Megaprojects in the pipeline and the ramping up of social infrastructure spend is boosting the market, says new report.
The Glasgow City Council sparked criticism from pro-Israeli circles when it decided to raise the Palestinian flag in the wake of the ongoing conflict between the Israeli regime and the Palestinians in the impoverished Gaza.
19:41 GMT
The Glasgow City Council sparked criticism from pro-Israeli circles when it decided to raise the Palestinian flag in the wake of the ongoing conflict between the Israeli regime and the Palestinians in the impoverished Gaza.
The deficit for fuel supplied to stations this month increased to approximately 8m cubic metres of gas and equivalent daily compared to 7m last month.
13:45 GMT
Electricity deficit increases to approximately 6,180MW, no solution in sight
Under the scheme, stranded workers can seek a job with employers whose job opportunities match their profession.
04:55 GMT
Labor Ministry spokesman Tayseer Al-Mufarrej said that the new arrangement was aimed at protecting the interests of both sponsors and workers during their contractual period of employmen
“This is the last major opportunity out there in the world that can suddenly become accessible, almost overnight,” he says.
04:55 GMT
“All the five-star hotels are full of Western companies looking to position themselves to do business."
"This is a well-established, well-rooted and very successful, very profitable organisation," Jordanian economist Riad Al Khouri told AFP.
04:55 GMT
Experts and economists believe the bank will emerge unscathed with flying colours, dismissing the case as a political attempt by American Zionist organisations looking to discredit the Palestinian cause.

August 19, 2014

Local lenders in Saudi Arabia are dominating the market, prompting overseas banks to surrender their licenses as they struggle to compete.
21:13 GMT
Some international banks have started shrinking in Saudi Arabia even as the kingdom plans to open its $577 billion stock exchange to direct international investment
According to the survey, the most common routes to finding a job in Lebanon are online job sites, through family and friends, and direct applications to target companies.
14:04 GMT
Thirteen percent of recent Lebanese graduates said that the availability of jobs in Lebanon was ‘moderate’ and none of them considered the availability of jobs in the country to be ‘high.’
The Suez Canal is a main source of income for Egypt, generating annual revenues of $5 billion.
13:47 GMT
Egypt has selected a Saudi consultancy to draw up the plan for the government's mega project to transform the Suez Canal waterway into a hub of international investment and free trade zones.
"This is what I believe and what many of my colleagues believe. We are determined to give lessons to students when they come to schools next week," he said.
13:25 GMT
Prime Minister Abdullah Ensour criticised the JTA for planning the strike, accusing them of playing politics and taking students as hostages to their demands.
hese remarks were made at a meeting between JCC board of directors and a delegation representing the Palestinian union of commercial, industrial and agricultural chambers.
13:04 GMT
In response to brutal Israeli attacks on Gaza, Jordan Chamber of Commerce (JCC) President Nael Kabariti called on Jordanian traders and importers to boycott Israeli goods and ports
A hospitable city, artificial beaches, some of the best hotels 
in the world and affordable treatment for a range of ailments is what new Dubai is now about.
04:55 GMT
From VIP packages to the most affordable ones, the packages will cover wellness and seven areas of treatment such as orthopaedic and sports medicine.
The new arrests came as security authorities weigh options to issue tickets to both illegal workers and their employers instead of arresting them, sabq.org reported.
04:55 GMT
The Interior and Labor ministries have stepped up their campaign to drive out residency and labor rule violators across the Kingdom after arresting nearly 8,500 foreigners in the Makkah region over the past two months.
By identifying common advertising mistakes and recognizing what makes a strong, quick-to-sell listing, agents can ensure that their properties grab the attention of potential buyers and renters.
01:08 GMT
With millions of new property listings appearing online every day, it is an increasing struggle to make yours stand out amongst the crowd.

“Petrochemicals stocks are very promising - SABIC is probably the cheapest global petrochemical producer and I expect it will be one of the first stocks to be allowed direct foreign ownership,” said Chawdhry.
01:04 GMT
The Saudi Tadawul All Share Index rose 0.48 percent to close at 10,639.04 points, its highest finish since January 2008 and its 13th gain in the 15 sessions since authorities announced plans to allow direct foreign ownership of shares early next year.
Qatargas and CNOOC have an existing sales agreement signed in 2008 to supply a total of 2 million tonnes per annum (MTA) of LNG.
00:56 GMT
Qatargas is the world's largest LNG producing company with a production capacity of 42 MTA.
“This is urgent: ISIS is now selling its oil, but the Kurds are not allowed to sell their oil,” an unnamed Turkish official told the Financial Times.
00:51 GMT
Turkey has requested that the United States remove barriers regarding the purchase of oil coming from Iraqi Kurdistan

August 18, 2014

Baghdad remained adamant in opposing any independent arrangements to ship oil from Kurdistan away from its control.
21:00 GMT
Two oil tankers Minerva Joy and the United Kalavrvta seem to symbolize the future of Iraq and whether it will remain a unified entity or will break up.
The Center for International Maritime Security said the Suez Canal has long been a point of contention and the situation is unlikely to improve anytime soon.
20:46 GMT
Promises by Chinese president Xi Jinping to build a “Silk Road” and the Red Med project proposed by Benjamin Netanyahu were renewed this year, raising concerns about negative implications on the Suez Canal.
over the course of time, the AKP has taken up the path of all the previous populist governments and begun to see the public sector as an easy way to provide employment for people.
13:26 GMT
Over the past years in particular, the economy has diverted from the rules of the free-market economy, which heeds fair and equal competition.
Lagging behind the Saudis, Qatari citizens captured 23 percent of the GCC property investments in Dubai, followed by the Kuwaitis (13 percent), the Omanis (7 percent) and the Bahrainis (4 percent)
11:26 GMT
Citizens of the UAE captured the highest portion of property investments in Dubai valued at more than AED12.5 billion ($3.5), the DLD report said.
The upcoming tripartite talks between Egypt, Ethiopia and Sudan were initially planned to take place in Cairo but were later moved to Khartoum.
11:19 GMT
"Egypt has a new vision, that will not affect Egypt's water share, and we are expecting that the other party responds to it," said El-Moghazi.
But taking into account the depreciation of the Syrian pound against the U.S. dollar, the results show a steeper decline of nearly 77 percent.
04:55 GMT
The combined net profits of six out of seven Lebanese banks operating in Syria dropped 54 percent in the first half of 2014.
The Saudi woman should be the sole breadwinner for the family and not her husband. In the second case,
04:55 GMT
The housing crisis in Saudi Arabia is considered to be one of the biggest problems in society as over 70 percent of Saudi nationals do not own their own homes.
Apple is still allowing use of the two chemicals during the early production phases of its products — activities that primarily take place at hundreds of other factories besides the ones responsible for the final assembly of the devices.
04:55 GMT
Benzene is a carcinogen that can cause leukemia if not handled properly and n-hexane has been linked to nerve damage

August 17, 2014

Available indicators of Brazil’s economic activity during the 2014 FIFA World Cup are as dismal as the performance of its national team during the tournament.
21:22 GMT
Qatar can draw useful lessons from the experience of countries and cities which hosted major sporting events.
The most commonly used measures of development and national performance in an economy have traditionally been Gross Domestic Product (GDP) and associated indicators.
21:13 GMT
Many resource-rich countries in the region do not perform as well on social and environmental indicators when compared to countries of similar per capital wealth.
Imports of goods and services fell 0.1% in the first half of 2014, after rising 6.7% in the second half of 2013.
20:43 GMT
This is the slowest rate of growth since the recession in the first half of 2009 and follows growth of 2.8% in the first quarter of 2014.
The oil share of GDP remained however near its recent highs at 66 per cent (including refining).
20:31 GMT
The sector continued to recover from the 2008 crisis and its related weakness that lingered until 2010.
The inspectors conducted a comprehensive survey on the tea sales in Abu Dhabi.
20:18 GMT
The Abu Dhabi Food Control Authority (ADFCA) has confirmed the safety of Lipton tea products in Abu Dhabi markets, following the circulation of rumours through YouTube, alleging the existence of hallucination pills in the company’s products.
Suez Canal investment certificate yields will be paid to certificate-holders from annual revenues, after one year of drilling the canal, Governor of Central Bank of Egypt Hisham Ramez announced Friday.
19:35 GMT
The certificates, agreed upon by President Abdel Fattah Al-Sisi as a source of financing the new Suez Canal project, will be issued through public sector banks over a period of 5 years.
Former president Hosni Mubarak launched national projects, but they were not completed because of a lack of political will.
11:31 GMT
Tawfik does not see in the Suez Canal project a “new Toshka,” though he does believe financial and economic studies are necessary to ensure this.
Gore, 66, and Joel Hyatt, another former Current TV owner, accused Al Jazeera American Holdings I Inc. of fraud and breach of contract.
11:23 GMT
Former U.S. Vice President Al Gore sued Al Jazeera, claiming the satellite news provider owned by the Qatari royal family owes him and a partner $65 million.
Jordan consumes about 500 million cubic feet of natural gas per day for production of electricity, the minister said.
11:02 GMT
Natural gas will be supplied to Jordan through the Arab Gas Pipeline, which is a natural gas pipeline that stretches from Egypt into Jordan and other neighbouring countries.
Activity is dominated by about 4.3 million retail investors who buy stocks straight from the market rather than going through professional fund managers.
10:44 GMT
Saudi Arabia is one of the last major markets in the world to open up, so the reform is attracting massive interest among international fund managers
Jewelry remains the biggest component of gold demand, representing more than half of all demand at 510 tons.
04:55 GMT
Global jewelry demand, which represents more than half of total global demand, was unsurprisingly down 30 percent year-on-year to 510 tons.
The IEA is worried that an uncertain investment climate in oil-exporting Middle Eastern countries may lead to a two million bpd shortfall and a $15 per barrel jump in oil prices by 2025.
04:55 GMT
Forget North America’s shale revolution, the world needs Middle East oil for long-term sustainability and to quench growing global demand for fossil fuels.
Egyptian exports of natural gas and derivatives declined by approximately 75% during June to $19m,
04:55 GMT
Egypt has ceased exporting gas to Jordan several times this year due to the tense situation in Sinai and multiple explosions on the export pipeline.
Apple Inc. signaled Saturday that it would be expanding its retail operations to the Gulf, posting job ads for a range of positions in the United Arab Emirates.
04:55 GMT
With retail operations in just 16 countries, Apple offers a wider range of services and experiences in its official stores than are available from authorized and unauthorized resellers.

August 14, 2014

 Drake & Scull’s profit for the period dropped to 25.9 million dirhams from 44 million dirhams a year earlier.
23:25 GMT
“The payment situation for contractors hasn’t improved since the beginning of 2013” even as the Dubai economy strengthens,
Lebanon’s Parliament has not approved a budget since 2005.
22:57 GMT
The Finance Ministry said Wednesday that the treasury has money to pay the salaries of civil servants for only two months,
The company said it plans to float a tender, inviting bids from pre-qualified companies for constructing the first package of the 170-km Sohar-Buraimi route this month.
22:51 GMT
The Oman Railway Company (ORC) unveiled a list of pre-qualified consortiums to undertake its national railway project on Wednesday, according to a report by theTimes of Oman.
The move into Eritrea is in line with the airline’s ongoing strategy to serve emerging markets largely underserved by international airlines.
22:43 GMT
Qatar Airways will become the first Gulf carrier to serve Eritrea from December 4.
On the other hand, if your money is making good returns, you might prefer to get a loan and leave your savings to work for you
22:27 GMT
Now, how to pay for your new ride… Do you have enough money to pay for your vehicle in full? Does that wipe out your savings? Would it be better, instead, to hold on to your money and take out a loan paid over several years?
Several EU countries have warned companies about doing business with Israeli firms based in or having links to settlements,
16:08 GMT
"The corporate sector is screaming for stimulus... There's more cautious international investor sentiment towards Israel."
The Isis’ Caliphate threatens not only the governments of Iraq and Syria but also threatens Jordan, Lebanon, Turkey, Saudi Arabia and the Kurds
12:46 GMT
The self-declared Caliphate led by Abu Bakr Al Baghdadi now covers a land area greater than Britain and a population of over six million in Syria and Iraq.
Upon the recommendation of Transport Minister Lina Shbeeb, the Cabinet also approved the draft agreement between the governments of Jordan and India on marine transport cooperation.
12:37 GMT
The Cabinet on Wednesday approved several recommendations and projects at a meeting chaired by Prime Minister Abdullah Ensour.
Andraos, who has been teaching at Columbia since 2011, is the first woman to become a dean at the school, according to the statement released by the university Tuesday.
12:19 GMT
Before Columbia, she taught at Princeton, Harvard and the University of Pennsylvania in the U.S., and at the American University of Beirut in Lebanon.
 
An energy powerhouse, Iran has the second-largest reserves of natural gas in the world after Russia,
12:06 GMT
Condensates represent a gray area in the oil and gas world, and even OPEC is challenged about how to define the product.
The Fitch statement from Monday -- which some observers interpreted as fairly balanced -- warned that the Turkish economy is not immune from political risks.
04:55 GMT
Economy Minister Nihat Zeybekçi responded harshly to a statement from global ratings agency Fitch via tweets that he posted on Tuesday morning, adding a new statement to a number of previous criticisms from the government regarding international rating agencies.

August 13, 2014

New tenants are exempted from any cost adjustments for three years from the start of their tenancy contract.
22:40 GMT
Sharjah residents have been advised to report to the municipality any unnecessary rent increases imposed by their landlords.
The airport is set to open in 2017 and will be the largest airport in the world, serving 150 million passengers annually.
21:41 GMT
İstanbul's third airport, currently under construction and set to open in 2017, will be named after President-elect Recep Tayyip Erdoğan.
Egyptian guest workers represent the majority of the 108 nationalities working in the Kingdom, constituting 62 per cent of the total number of guest workers.
21:09 GMT
The Jordanian side presented a briefing on efforts to regulate the labour market and rectify the statuses of guest workers.
Russia will supply at least 5-5.5 million tonnes of wheat to Egypt this year and will increase agricultural goods imports from the North African country.
20:52 GMT
In the previous 2013/14 marketing year, Russia supplied 3.6 million tonnes of wheat to Egypt.
The Dubai-based carrier is the world's largest operator of the A380 jets. In November, it announced plans to buy another 50 from the European planemaker at the Dubai Air Show.
20:37 GMT
Emirates used the loan to take delivery of its 50th superjumbo, the bank said.

After nearly three years of waiting, many Saudis have become disillusioned from this ministry that promised so much but delivered so little.
20:23 GMT
A rising gap between what is available on the market and what most Saudis can afford has left many frustrated home-seekers on the edge
UAE nationals topped the list with Dh12.5 billion ($3.5 billion), .
20:06 GMT
Investors from the Gulf Cooperation Council (GCC) states spent more than Dh19 billion ($5.17 billion) on real estate projects in Dubai, UAE, during the first half of the year, a report said.
Banks in the Arab Mediterranean region will continue to encounter turbulent and challenging operating conditions in 2014-2015.
19:20 GMT
S&P said its ratings on Arab Mediterranean banks have been dragged down since the end of 2010 by the deteriorating creditworthiness of their respective sovereigns/
The change has been triggered by the new breed of worker, #GenMobile, who are putting mobility at the centre of their working and personal lives, he said.
19:08 GMT
Technologies are disrupting the traditional work patterns in the Middle East to such a degree that soon the term ‘office’ will become obsolete, according to an expert.
Al Etihad Credit Bureau will continue to collaborate with its partners to upload customers’ credit information for the past 24 months.
12:10 GMT
The credit reports will include records about consumers’ debt levels, financial obligations, credit payments, history of default payments and late payments.

UAE was ranked the top country in the Middle East based on passengers carried.
11:52 GMT
Middle East airlines carried 157.9 million passengers in 2013, marking an increase of 8.8 per cent over the figures for the previous year.
It added that Lebanon could have started the drilling work by late next year if the government had approved the decrees.
04:55 GMT
The EIU pointed out that Lebanon was lagging behind other neighboring countries in the Levant Basin in this process, and Israel was already reaching the phase of monetizing its gas reserves.

August 12, 2014

The 18 and 29 year-old age group, represents 23.7% (approximately 20 million) of the total population, of which 51.1% are men and the remaining 48.9% are women.
23:21 GMT
Around 27.8% of Egyptian youth are poor while 24.1% are near the poverty line.

Revenue-per-available-room (RevPAR) has seen a 7.4 per cent decline to Dh290.23,
16:08 GMT
The initial results show an 11.8-percent decline in occupancy to 45.4 percent.
Advanced economies, represented by the US, Europe and Japan, have imported goods at the fastest rate in more than two years in the last three months.
15:29 GMT
Advanced economies, represented by the US, Europe and Japan, have imported goods at the fastest rate in more than two years in the last three months.
Jordan's credit challenges lie mostly in its fiscal and external accounts.
15:21 GMT
The rating agency says that although domestic politics have been fairly stable, the government faces continued pressure to maintain social spending.
A clutch of new non-Muslim countries - Australia, Hong Kong, Philippines and Sri Lanka - join the UK as Islamic finance gains visibility and recognition outside the Muslim world.
15:08 GMT
Malaysia, UAE, UK attract most conferences, intensified battles to be world’s Islamic finance hub.

Carrefour had the most significant climb up the Top 10 over the first six months of the year, jumping up five places from ninth to fourth.
13:44 GMT
Samsung is the number one ranked brand in the Top 10 Buzz Rankings across the United Arab Emirates for the first half of 2014.
ISC defines international schools as those that deliver a curriculum to any combination of infant, primary or secondary students, wholly or partly in English outside an English-speaking country,
13:04 GMT
The expansion of international schools in the Gulf region continues, registering the second fastest growth rate in the world and now has 982 international schools in the region.
To counter supply outages in Iraq and among other OPEC producers, Saudi Arabia has maintained a high level of oil output
04:55 GMT
"The more the Kingdom produces, the lower its spare production capacity becomes, meaning the smaller the cushion to cope with new supply disruptions."
Israeli bombardment has left parts of Gaza in ruins and the enclave's already shattered economy is also feeling the pinch as prices for staple foods have started to climb.
00:33 GMT
Mahir Al Tabaa, head of the Gaza chamber of commerce and industry, agreed the conflict had caused "huge and long term indirect losses" for the economy.
Diab asserted that they would accept donations from any Egyptian, including Mubarak-era leading businessmen.
00:13 GMT
In a move to force businessmen to donate, a campaign was launched in early August to track businessmen who did not donate to the fund,

August 11, 2014

The report, which listed the 15 richest men in Egypt, mentioned that Onsi Sawisis came in fourth position with a net worth of $2.4bn.
23:57 GMT
Nassef Sawiris, Egypt’s richest man, is the CEO of Orascom Construction Industries (OCI) and owns stakes in cement company Lafarge as well as Texas Industries.
“The market has become more complacent about supply again. But complacency is dangerous. Given the geopolitical tensions, a spike in oil prices cannot and should not be ruled out.”
23:35 GMT
“There’s talk of changes in Baghdad. The oil market is sort of waiting to see what happens,” Wardell said.
VPS aims to have an extensive network of Health Promotion Centres across the UAE and other countries within five years, it said in a statement.
23:10 GMT
The healthcare provider said that its first Health Promotion Centre will be established in the Marina Mall in Abu Dhabi by the end of 2014.
During July, prices for vegetable, fruits, poultry and dairy products inched up by 7.4%, 3%, 4.8% and 4.6% respectively.
16:32 GMT
The agency attributed the surge to the rising demand for food commoditiessuch as vegetables, dairy products and poultry, and the government’s decision to raise fuel, electricity and tobaccoprices.
The contract provides for the UAE to import some 600 million cubic feet per day of Iranian gas, though the actual amount will depend on many factors and may only become clear in coming months.
08:03 GMT
The UAE is eager to obtain additional natural gas supplies to support its rapid economic growth.
Dubai-based brokerage Arqaam Capital last year valued OSN at $4.3 billion.
04:55 GMT
The TV company has operations across Mena, and posted earnings of 139.5 million dinars ($494 million) in 2013.
In 2012, the value of Egyptian migrant remittances peaked at $19.2bn, representing 7.3% of Egypt’s total GDP.
00:20 GMT
In addition to receiving remittances from abroad, the Egyptian economy benefits tremendously from the vibrant and successful professional community of Egyptians that is active outside her borders
In 2007, Hyundai Engineering & Construction and Doosan Engineering won the 1.8 billion dinar ($1.5 billion) contract to build and operate the power plant,
00:12 GMT
Libya is facing the worst violence since the fall of former ruler Muammar Gaddafi three years ago
If Hogan can turn around Alitalia in the next 36 months, it will rank among his most impressive achievements.
00:06 GMT
Friday served as a new marker for Alitalia as Etihad set out its “roadmap” to return the troubled carrier to profit by 2017.

August 10, 2014

They also accuse the bank of performing financial services for people affiliated with Hamas and other designated foreign terrorist organisations.
23:47 GMT
Arab Bank, Jordan’s largest financial institution with branches throughout the Middle East and elsewhere in the world, denied the charges, saying it would exercise all legal options to disprove the accusations.
The majority of capacity additions within the GCC between 2007 and 2012 took place in Saudi Arabia, which accounted for 64 percent of the regional capacity additions.
15:00 GMT
The expansion in ethylene production capacity has resulted in Saudi Arabia being the third largest producer worldwide, accounting for 11 percent of global ethylene capacity.
In general, investment in R&D and HT exports are positively related since R&D eventually leads to more technologically intensive production capabilities.
14:25 GMT
The countries of the Gulf Cooperation Council (GCC) are a special case amongst high income economies.
"This process should be gradual as one cannot change a 30- year-old policy in three months. The process should be a step at a time," Ahmed said.
14:18 GMT
According to Ahmed, future generations of Jordanians will have to shoulder the burden of indebtedness arising from the budget deficit.
Meanwhile, an aviation analyst termed the Etihad’s deal with Alitalia risky and said Abu Dhabi-based airline will have to go all-out to make this deal work to achieve desire results by 2017.
04:55 GMT
Etihad Airways on Friday signed a €1.76 billion deal to acquire 49 per cent stake in loss-making Alitalia.