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More than 65 percent of those participating in the survey said mobile banking is an important trend for the future (File/AFP)
13:09 GMT
The UAE is now ranked as one of the top three countries in the world's online banking sector, according to a technology study. Will it be virtual banking for all in the future?
Instability and civil wars in the MENA region had a recent impart on oil supplies and demand (File/AFP)
12:12 GMT
According to a report, oil supply growth will reduce over the next 18 months. This comes with many risks. Why is the Middle East's oil industry experiencing a downfall?
Dubai's airport handled 29.6 million passengers in the first five months of 2014 (File/AFP)
11:28 GMT
Dubai International Airport is expected to be the world's busiest airpot in 2014, beating London's Heathrow with a 9.2 percent rise in passengers.
Consumer confidence in UAE has dropped amid fears over rising rents
11:27 GMT
Many UAE consumers are spending less than they used to due to concerns about rising rents and living standards, findings of a new study suggest.
The Dubai Metro commuters will be able to avail its services for longer hours during the Eid Al Fitr holidays
10:57 GMT
Trains on the red line will begin at 5:30 am on Monday (July 28), Tuesday and Wednesday, and end at 1:00 am the next day. Green line trains will begin at 5:50 am, with other timings remaining the same.
The profit gains add to RAK Petroleum's fifth consecutive year of profitability (File/AFP)
10:48 GMT
Leading energy investment company, RAK Petroleum Public Company, posted $15.81 million net profit since December 2013, marking a fifth year of increased gains.
The Middle East’s share of gold consumption was 6 percent last year, compared with 7.8 percent in 2010
10:36 GMT
The Middle East will take a bigger share of gold demand as buyers from Kuwait to Saudi Arabia to the United Arab Emirates diversify investments and Dubai nears offering a contract for immediate delivery bullion.
Despite the trillion debt figure, the investment grade refinancing volumes in EMEA are manageable within the normal capacity of capital markets
10:29 GMT
Middle East investment grade companies are facing refinancing needs of about $91 billion from bank and bond debt due to mature over the next four years.
It is the sixth successive quarter of increases in sales prices for residential units, with a 7 percent rise over the April-June period
10:23 GMT
Sales prices in Abu Dhabi’s residential property sector have increased by average of 17 percent in the first half of 2014, according to JLL.
The department store will be the largest in the GCC region (Image: Aldar Properties)
10:19 GMT
Aldar Properties will join forces with Chalhoub Group to create the regions biggest department store in Abu Dhabi's Yas Mall.
The luxury hotel chain will open a branch in Dubai's Jumeirah Beach later this year (File)
09:30 GMT
Four Seasons Resort at Jumeirah Beach is aiming to open on December 1, the hotel chain announced.
Over 300 investors from across the globe visited Damac venues across the UAE (File)
08:38 GMT
Leading housing developer Damac Properties announced that all units from the luxury Loretto project sold out in one evening.
Economists hope the announcement will diversify Saudi Arabia's stock market (File/AFP)
08:21 GMT
Investors have welcomed a Saudi Cabinet decision to allow direct foreign investment in the country's stock market, with the move being seen as an attempt to diversify the economy away from oil.
The economist behind a plan to unlock at least $380 billion worth of assets from Egypt's black market says President Abdel Fattah Al Sisi.
04:31 GMT
He predicts such reforms could more than double economic growth rates within five years by giving people access to credit and the protections of legal status
 The new restaurant offers a fast casual dining experience from its build your own wraps, to its locally sourced salads and indulgent desserts
03:55 GMT
Just T Falafel, the number 1 Falafel franchise in the world, opens another chapter in its Australian expansion by opening its doors in the country’s largest railway station.
These included a number of petrochemical projects and research initiatives for the exploration of mineral wealth.
03:38 GMT
Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum.

July 22, 2014

Egypt is finalising the details of a long-awaited unified licence which will allow firms to offer both mobile and landline telecommunications.
16:22 GMT
Vodafone Egypt, which is also 45 per cent owned by fixed-line telecoms firm Telecom Egypt, is the leading communications player by customer numbers in the country of 86 million.
Seventy percent of Israel's exports to Turkey are chemical products, while rubber products and electrical equipment accounted for another 15.5 percent.
16:00 GMT
While calls increase on the government to review Turkey's trade relations with Israel in response to the humanitarian crisis in Gaza.
On April 20, Jahangiri said that Iran’s unemployment rate had reached a critical level.
05:55 GMT
Iran must create 8.5 million new jobs in the next two years.
 Major global stock markets fell and bond prices ralliedas worries over conflict in the Gaza Strip and Ukraine raised uncertainty for investors and kept them away from riskier assets.
04:55 GMT
Shocks to the system from Ukraine and Israel’s ground invasion of Gaza come at a time when markets have been worried about economic growth on both sides of the Atlantic and digesting second-quarter earnings reports.
Dealers in the hotels sector estimate the percentage of rented units according to the lease system at 5 percent of all housing units in the vicinity of the Grand Mosque.
04:55 GMT
New projects in the central area of Makkah has led Saudi and Gulf businessmen to renting out housing units in hotels overlooking the Grand Mosque for long-term lease of up to 15 years
“The people will go out ... to bring down the government if the price of fuel is raised.”
04:55 GMT
In the long run, reducing the subsidies would be good news for the state budget; they cost about $3 billion last year, or a third of state revenue.
The regulations also illustrated that maximum wages will be applied on administrative authorities that belong to the state, economic bodies and holding companies.
04:55 GMT
Debate over the maximum has been ongoing for the past several years with speculations on the exclusion of several sectors riding during the past several months.

July 21, 2014

The existing management of liquidity is limiting the growth of the global Islamic banking market, and how standardisation and innovation can offer a solution to this.
21:44 GMT
Traditionally, Islamic products have been designed by financiers from conventional backgrounds, who try to base them on conventional products
In the long-term, the project will see parks have playing equipment installed for children with special-needs.
21:28 GMT
Dubai Municipality has announced plans to make parks in the emirate more disabled-friendly by 2016.
The report states that the electricity tariff in Saudi Arabia is the lowest in the world because of governmental loans and support to electricity production companies through supporting fuel prices.
21:04 GMT
Saudis pay the cheapest electricity bills, according to one report, but seemingly not for long.
“Saudi businessmen who visit Jordan for investment and trade often fall victim to fraud,” he explained, adding: “We strongly advise our citizens to seek legal consultation here in the embassy free of charge.”
15:10 GMT
“Houses and farms are still being maintained and have been registered via official documents since the Saudi Embassy had been established in Damascus,” he said.
Other powerhouses in Dubai also crashed.
04:55 GMT
Arabtec was suspended from trade on Thursday due to ambiguity on share ownership by Aabar Investments.
The number of jobless Jordanians is expected to reach 400,000 in 2030 if the unemployment rate continues at its last year’s rate of 12.6 per cent
04:55 GMT
The official figures showed that unemployment among males who hold a bachelor’s degree or higher reached 20.8 per cent, while among university graduate females it was nearly 82 per cent.
Tim Clark, president of Dubai’s Emirates, the world’s largest international airline by number of passengers, said domestic regulators worldwide may decide to be more involved in giving their carriers guidance on where it is safe to fly.
04:55 GMT
The head of one of the world’s largest airlines has called for an international meeting of carriers to agree a response to the downing of a Malaysian airliner,
Nevertheless, Saudi continues to play the role of an emergency supplier and changes in its exports could be explained by changes in Chinese imports.
04:55 GMT
Although imports from GCC rebounded in May 2014, their pace is still below that of fuel imports, and therefore the GCC keeps losing share.
FBME was originally established in Cyprus in 1982 as a subsidiary of the Federal Bank of Lebanon SAL.
03:18 GMT
“The Central Bank of Cyprus announces that, under the powers conferred to it by the relevant legislation, [it] has taken over, as of today, the management of the operations of the branch of FBME Bank Ltd. in Cyprus."
Now with crude output in the country growing rapidly and the US emerging as the world's top producer, there seems growing emphasis in Washington on controlling the newly found resource
03:10 GMT
For years, rather decades, the US has been discouraging the very concept of resource nationalism, insisting instead to let free market forces control the global energy dynamics.
The report also stated that the ministry is finding it difficult to employ experienced expatriates due to the low salaries being offered to them.
03:00 GMT
The Ministry of Municipal and Rural Affairs has criticized the Saudization scheme of replacing expatriate employees with Saudi nationals, which has resulted in a shortage of experts in many positions.
In addition to six greenfield economic cities, efforts are being made to uplift cities such as Makkah toward Smart City status.
02:51 GMT
Saudi Arabia is all abuzz with excitement about ‘Smart Cities’ with social and technological factors converging to make the Kingdom ready for wide-spread Smart City developments.

July 20, 2014

Revenue generated through rents during the first half of the year increased by 39 per cent to Dh32.5 million, according to the company.
15:54 GMT
The Kuwait- and Dubai-listed company said the results were due to increased occupancy rates in recently completed residential developments and strong rental yields.
Dubai One will be re-launched on Sunday September 14, according to the statement on the DMI website.
15:23 GMT
Dubai One, the Dubai government-owned English-language television channel, confirmed on Friday it is no longer producing content locally.
He added that Africa was a very promising market for Sabic and the company was focusing on opening distribution centres in a number of African countries.
14:55 GMT
Sabic, which is 70 per cent state-owned, attributed the rise in profits to higher production and sales volumes as well as higher prices for products.
Shaikh Zayed Road is one of Dubai’s biggest highways, with six lanes in each direction.
14:20 GMT
The flow of traffic on the busiest highway in Dubai will not be impacted and the number of lanes will be kept the same, the RTA has said.
The performance of the Kuwaiti economy as benchmarked by global indexes is not commensurate with its potentials.
14:10 GMT
Sadly, Kuwait is regarded as the under achiever among Gulf Cooperation Council (GCC) countries by some key business and economy indexes.
A number of cities are seeking to benefit from the internationalization of the RMB by establishing themselves as financial hubs for RMB transactions.
04:55 GMT
China is the largest source of imports into Qatar.
Once a top recipient of US military aid, Egypt lost most of its $1.3 billion a year package after the 2011 popular uprising that toppled Mubarak.
04:55 GMT
"The contract is worth about 1 billion euros and was finalised last month," a French diplomatic source said. "It's the first big deal since we sold Mirage fighters (warplanes) about 20 years ago."

July 18, 2014

Exhausted after a long day of work under the blazing desert sun, the migrants spend the afternoon searching for a place to sleep on the streets of Doha.
00:42 GMT
Exhausted after a long day of work under the blazing desert sun, the migrants spend the afternoon searching for a place to sleep on the streets of Doha.
Launched at Farnborough on Monday, the neo plane is a revamped version of the A330, sporting engine upgrades to provide more economical long-haul travel.
00:32 GMT
Qatar Airways gave Boeing a lift on Wednesday, concluding a deal for 50 of the US planemaker's revamped long-haul passenger jets and proposing to buy the same amount again.
The report expects that if Qatar loses its hosting right of the World Cup, the infrastructure spending will lose execution focus and face potential delays.
00:18 GMT
The nominal effect of the World Cup cancellation is credit positive, as capital spending would be lower and more efficient, according to the bank.

July 17, 2014

Despite their recent upgrade to the more mainstream emerging market league, UAE and Qatar are considered risky enough by many investors that they still treat them like frontier markets.
16:33 GMT
Erratic price moves, difficulties of accessing the market, and deep political risks, alongside strong growth, are common characteristics of frontier markets
Arab Bank also owns 40 percent of Saudi Arabia's Arab National Bank ANB.
16:13 GMT
Arab Bank has been expanding across several Middle Eastern countries and has built a reputation for stability in a region shaken by conflict and political upheaval, partly thanks to diversified investments.
The $7 billion Kuwait Metro project is another vital project currently in the stages of design and supervision.
16:05 GMT
Kuwait’s construction sector has witnessed high growth at a steady pace, driven by the announcement of several infrastructure projects in recent times.
The lawmaker emphasized that Lebanon was negotiating “state to state” and not with any private companies. The Turkish Embassy declined to comment.
04:55 GMT
Lebanon is moving forward with a plan to import water from Turkey, having failed to impose any restrictions on water usage in response to one of the worst water shortages in recent memory.
The energy-rich country on the eastern tip of the Arabian Peninsula announced plans Wednesday to send the first unmanned Arab spaceship to Mars in 2021.
04:55 GMT
Having scaled the heights of Earth with the world's tallest tower, the United Arab Emirates is now aiming for the stars, or just a little bit closer, with an ambitious trip to Mar

July 16, 2014

EU officials and experts voiced support over the weekend for proposals to turn Cyprus into an energy hub for Europe in order to reduce the continent’s dependence on Russian gas.
23:52 GMT
Oettinger also outlined a need in Europe for liquefied natural gas, which Cyprus hopes to make part of its emerging status as an energy hub with the eventual opening of a massive LNG plant.
Total private sector liabilities were up 5.2 percent in the first five months of the year over the end of last year to $208 billion, corresponding
23:18 GMT
Total outstanding loans received from abroad, based on a remaining maturity basis, that the Turkish private sector is obliged to repay within 12 months
With the addition of new games, the lottery system is expected to pay off in a short time. The winner will also have the right to hold the lottery every weekday.
19:46 GMT
Turkey attracted several billion dollars in privatization revenues last year driven by sell-offs in the energy sector and is now trying to focus on more profitable sales after some tender revenues came in below expectations.
The Garden Apartments range from studio to three-bedroom duplexes — each reflecting classic modernity while maintaining a balance of style and functionality.
16:41 GMT
Located just three kilometres from Burj Khalifa, the exclusive, ultra-stylish yet family-orientated community has more than 30 per cent of the 185-acre project dedicated to green living and is now offering its luxury homes for sale.
“Texas and California are likely the biggest losers in terms of lost employment"
16:32 GMT
The new report "Losing Billions – The Cost of Iran Sanctions to the U.S. Economy" reveals that between 1995 and 2012, the U.S. sacrificed at least $135 billion and as much as $175 billion in potential export revenue to Iran.
The first of 13 A380 superjumbos ordered by Qatar was scheduled to be delivered in May and exhibited during the industry's key trade show at Farnborough in Britain.
16:01 GMT
"We are a very demanding customer, we want everything to be absolutely perfect. It is absolutely disappointing to Qatar Airways."
It is also the first time Qatar had acquired Patriot missiles, which other Gulf countries such as Kuwait, Saudi Arabia and the United Arab Emirates have purchased in the past.
15:25 GMT
"As you know our region is going through a lot of instability. What we bought are weapons to defend Qatar," he said.
The overall positive market sentiment at the start of 2014 has also seen the reprisal of a number of stalled residential projects and launch of several new projects in the Northern Emirates,
15:08 GMT
Annual rates in Fujairah, Umm Al Quwain and Ras Al Khaimah remained stable with nominal increases of two and one per cent respectively.
The two sides also agreed that the age of a housemaid from India should not be less than 30.
03:28 GMT
He said the recruitment of domestic helpers from India would inject new life into the housemaids market in light of recent problems that stopped the recruitment of labor from Indonesia and the Philippines.
Boosted by this deal, real estate was the most targeted sector, accounting 29 per cent of first half activity.
03:21 GMT
The UAE was the most active nation in the Middle East in terms of debt capital market activity in the first half, accounting for 55 per cent of activity at $12.1 billion,
Around 49,000 LinkedIn members moved to the UAE in 2013 indicating that the country is winning almost twice the number of professionals than it is losing, the social networking site for professionals said.
03:12 GMT
This will prove beneficial for the overall economy, creating more jobs, which in turn that will help future generations of fresh graduates to find employment.”
Speaking at a recent unofficial Lower House meeting, Interior Minister Hussein Majali said the government is working on granting these children access to certain services for humanitarian reasons.
03:04 GMT
“What they are giving us is not enough. We want full citizenship rights for our children,” Habashneh told The Jordan Times in a recent interview.

July 15, 2014

The salaries of officials rarely exceed a few thousand pounds per month. Supplements, which can amount to several tens of times the monthly salary, are in the form of bonuses.
21:18 GMT
Although, three similar decisions were announced by several governments since January 2011, none of them have taken full effect.
Having been heavily subsidised for decades, bread is a main staple of the Egyptian diet, forcing the government to import increasing amounts of wheat to meet local demands,
21:03 GMT
The government is trying to create incentives for people to consume less than their ration of bread to reduce spending on wheat.
Fifteen nations had issued similar warnings following the bombing of a tourist bus in the South Sinai resort of Taba.
20:48 GMT
Zaazou said hotel occupancy rates had climbed to 70 percent on the Red Sea coast and exceeded 55 percent in South Sinai as a result.
Emirates has 208 Boeing 777s pending delivery.
16:03 GMT
The $13 billion (Dh47.7 billion) OnPoint contract is for the engines that will power the airline’s 150 Boeing 777X aircraft that it is buying from Boeing for $56 billion.
“The state wishes to send a serious message about encouraging investment, reconciling with serious investors, and settling disputes raised with them."
15:56 GMT
Government seeking to settle some 22 investment disputes against Egypt pending before international arbitration “amicably” in order to avoid fines estimated at $20bn
The number of domestic and inter-Middle Eastern M&A transactions has declined 49% from 1H 2013 to $6.9bn during 1H 2014, according to the report.
15:38 GMT
Mergers and acquisitions (M&A) transactions in the Middle East have grown by 250% in the second quarter (Q2) of 2014 compared to Q1 2014,
 
Channeling assets of the capital market - mainly the stock market and the banking sector - into key oil, gas, and petrochemical industries can contribute to the nation’s economic growth.
15:28 GMT
Khamenei outlined the general policies of the program to promote the “economy of resistance”, which can lead the Iranian nation to victory in “the imposed economic war” with the West
It is the second largest hospital in terms of bed capacity, with 164 beds.
04:55 GMT
Based in Tunis, Clinique Taoufik was one of the first private healthcare institutions established as part of efforts to modernise Tunisia’s healthcare system,
Growing their business remains the primary and dominant goal for High Net Worth (HNW) business owners in the Middle East, according to a new study.
04:55 GMT
The research surveyed stakeholders in family businesses with a 2012 turnover and family net worth in excess of $100 million.

The A330neo will have a range increase of up to 400 nautical miles, with room for up to 10 extra seats in the cabin,
04:55 GMT
The announcement of the upgraded A330, after months of speculation, is Airbus' attempt to prolong the life of its profitable twin-aisle jet,

July 14, 2014

The Army called on citizens “to use the application in accordance with its indicated purpose,” stating that the application would ask for each user’s name and phone number.
17:02 GMT
The app will allow users to send text, photos, audio and video recordings to report any suspicions of bombs, mines, grenades or rigged cars.
The American University of Beirut and the Lebanese American University are among the schools that offer intensive Arabic language programs throughout the summer.
16:47 GMT
Despite Lebanon’s increasingly unstable political situation, students from around the globe seek its universities, eager to immerse themselves in Arab culture and the Arabic language.
For the World Cup, the 29-year old Ronaldo is reportedly earning $490,870 a week, after tax, amounting to a staggering $2,243,997 (USD) to take part in the 32-day event.
16:39 GMT
For the amount that Ronaldo will earn for playing in the tournament, you could purchase a whole settlement of houses in Africa.
The majority of irregular migrants in Morocco are from sub-Saharan Africa.
16:04 GMT
The state’s overhaul of the migration and asylum system is an excellent case study of how reform is centrally controlled in the kingdom.
Dues owed to foreign partners for the petroleum sector have grown to $6.3bn through July 2014, as compared to $6bn at the end of April 2014
15:02 GMT
The government’s delay in reimbursing foreign partners threatens Egypt’s gas production as it will lead to a decline in production until 2018
The European Union has annulled sanctions against 14 Iranian entities since President Hassan Rouhani took office in August 2013.
14:43 GMT
“The bowl of sanctions has broken… and [nobody] can return this broken bowl to its previous state,” Rouhani stated.
There should be strict market monitoring to curb unreasonable price increases and measures to protect SMEs owned and run by middle class Saudis.
14:09 GMT
The segment also played an important role in maintaining a social balance between the upper and lower classes.
Although the company will finance half the cost from its resources, it is expecting to receive the remaining funds through the debt market along with the sales of some parts of the project,
04:55 GMT
Dubai’s plans to construct mega projects such as Mall of the World could lead to another boom-bust cycle within the emirate’s real estate market
The Statistical Center of Iran put the inflation rate of the country's rural areas in the 12-month period to the third Iranian calendar month (ended on June 21) at 28.3 percent.
04:55 GMT
"Containing inflation is the main economic priority of the government," he said.
In the UAE, hotel occupancy touched 75 per cent in May.
04:55 GMT
Hotel room rates in Dubai normally peak during the January-April period and the two Eid holidays.
Energy-rich Qatar has come under international pressure to clamp down on violations of the rights of migrant workers, specially those building World Cup infrastructure.
04:55 GMT
A report commissioned by the Qatar Foundation chaired by the ruling emir’s mother charged that the rights of migrants, mainly Asians, are flouted in their home countries from the moment they sign up for work.
One source told The Daily Star that most international oil companies may not rush to bid for available gas blocks if Lebanese politicians failed to iron out all their differences on some articles in the decrees.
04:55 GMT
Lebanon will once again postpone the gas auction which was scheduled for Aug. 10 as some ministers expressed their dissatisfaction over the state’s share stated in the decrees

July 13, 2014

Last month the Paris-based International Energy Agency too conceded that the US was the biggest producer of oil and natural gas liquids.
 In view of the growing US supplies, the OPEC too is cutting forecast of demand for its own oil by 300,000 barrels a day next year.
23:29 GMT
World's top crude consumer, the United States, is now the world's top producer too, overtaking Russia and the OPEC kingdom Saudi Arabia.
He called for imposing stricter search measures on female passengers and travelers because terrorists may use women to carry out their operations.
22:25 GMT
A Dammam airport source told Al-Hayat Arabic daily that airport officers have been asked to refer any suspicious passengers for investigation.
. Cultural fit mattered more to interviewers than analytical ability or communication skills.
21:59 GMT
In an increasingly globalised economy, understanding how to deal with others is vital.
The ranking, published by www.TopMBA.com, is unique in that it highlights the value of MBA programs based on employer demands of MBA graduates.
18:32 GMT
The rank was based on the demands of international employers for MBA graduates.
The airline will also operate four flights a week to the world-class tourism and economic hub, Hong Kong, and three flights a week to Algeria’s vibrant capital and largest city, Algiers.
16:47 GMT
Etihad Airways will launch six new routes in the first half of 2015, offering even more choice and improved connections to travellers worldwide.
The results indicate increases of 35 per cent in tourists from the UAE, 6.3 per cent from Saudi Arabia and 10.8 per cent in tourists from Kuwait.
16:26 GMT
The average stay for the Arab tourist — particularly GCC nationals — increased from 9.5 nights in 2013 to 11.6 nights in 2014.
Another option that has been pushed forward enthusiastically in recent weeks is selling gas to the international companies that have land-based liquefaction facilities in Egypt.
16:07 GMT
The problem with the Turkish deal is twofold: the delicate political relationship between Israel and Turkey, and the handling of the negotiations on the parts of the corporate bodies in Turkey.
Iran’s Targeted Subsidy Reform remains one of the most ambitious attempts to reform subsidies in an energy-exporting country.
14:11 GMT
A new IMF paper shows how subsidy reform has recently gained momentum in the Middle East and North Africa and outlines the elements of successful subsidy reform.
Yemen has struggled to pay public sector salaries and finance food and energy imports, which has led to power cuts and fuel shortages
04:55 GMT
But reducing subsidies is hard in a country where a third of the population of 25 million lives on less than $2 a day, and this week’s austerity package did not address subsidies.
Historically, Iran’s economy has been heavily dependent on oil, and the fluctuations of oil prices and exports over the years have directly influenced the government’s budgets and actions.
04:55 GMT
Finance and Economic Affairs Minister Ali Tayyebnia says Iran will no longer promote an oil-based economy even if the economic sanctions which have been imposed against the country are totally lifted.
Efforts to reach agreement on a new government in Baghdad to confront the insurgents have been complicated by the tensions between Maliki and the Kurds.
04:55 GMT
An oil ministry spokesman in Baghdad described the takeover as dangerous and irresponsible and called for the Kurdish forces to withdraw immediately.
Chinese tourist numbers have recovered from their plunge following the 2012 eruption of the spat between Beijing and Tokyo over islands in the East China Sea.
04:55 GMT
Prayer rooms, hijabs made from local silk and even halal-certified whale meat are appearing in Japan as tourism bosses wake up to the demand from Muslim travellers.
In their efforts to satisfy their individualistic desires, Egyptians are happy to achieve the tiniest self-realisation at the cost of the country’s welfare.
04:55 GMT
In principle, every citizen deserves a better life; why should people suffer if their lives can be improved?
A number of foreign partners have reduced investments in the sector for the upcoming period, which will cause average natural gas production to stabilise.
03:14 GMT
Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April.

July 11, 2014

“We are close to an agreement on holding a Parliament session on July 17 to pass laws adopting the new salary scale and government expenditures,” the source said.



Read more: http://www.dailystar.com.lb/News/Lebanon-News/2014/Jul-11/263496-wage-hike-breakthrough-expected-next-week.ashx#ixzz377kRp4Ue 
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
03:42 GMT
Breakthrough in the long-running crisis over public workers’ salaries is expected next week, a ministerial source revealed to The Daily Star Thursday.
The world’s most expensive cities for expats are both in Africa. Luanda in Angola is ranked first for the second year, followed by N’Djamena in Chad.
03:38 GMT
Rising housing costs has pushed Dubai up the rankings in an annual survey of the most expensive cities in the world for expatriates to live in.