The Union Coordination Committee Wednesday accused the Finance Ministry of intentionally submitting salary scale bills with errors in them in a bid to delay the ratification of a wage hike in Parliament.
The Egyptian government said on Wednesday it would supply more gas and diesel to power stations to deal with electricity shortages that have worsened in recent months after the cash-strapped country failed to import enough fuel.
South Sudan's oil minister said late on Wednesday that it had resumed oil production and flow to the international markets through the territory of neigbouring Sudan after a temporary blockage at Jebellen.
Egypt's central bank kept the price of the country's currency steady against the dollar at a special $800 million foreign exchange auction on Wednesday, called to help importers pay for wheat, meat, cooking oil and other essential imports.
The World Bank has proposed a $150 million loan for Jordan to help it with the cost of thousands of Syrian refugees fleeing the civil war in Syria, Jordanian and World Bank board sources said on Wednesday.
Bank Alkhair, a Bahrain-headquartered Islamic wholesale bank, has announced the successful closure of the first tranche of a $750 million sukuk programme by Saudi Arabia's Dar Al Arkan real estate development company.
Crude oil prices fell below $100 for the first time since mid-2012 in April on seasonal factors and softening market fundamentals. This was followed by a small rebound in early May, according to NBK’s latest Economic Update.
The Islamic Development Bank Group has decided to increase its authorized capital from $ 45 billion (30 billion Islamic dinars) to $ 150 billion (100 billion dinars) on the recommendation of the two extraordinary Islamic summits held in Makkah.
Oman Air, the national carrier of the Sultanate of Oman, has placed an order for three A330-300s, growing its A330 Family fleet to a total of ten Airbus aircraft, according to a press release on Wednesday.
A number of MPs expressed mixed reactions over the massive reshuffle on Monday in the oil sector, with some welcoming it and others strongly criticizing it as politically-motivated, while the opposition made no reaction to the changes.
Saudi economic growth will slow to 4.4 percent in 2013 from 6.8 percent last year due to an expected fall in oil production, and cuts in government spending, the International Monetary Fund said Tuesday.
Drake & Scull Construction (DSC) the General Contracting Arm of Drake & Scull International PJSC (DSI) has announced that it has been awarded a SAR 1.725 billion (some $460 million) contract by Lamar Investment and Real Estate Development Co. to complete the Lamar Towers project in Jeddah, Saudi Arabia.
The International Monetary Fund (IMF) is not concerned about Dubai’s ability to repay its estimated $48 billion of debt obligations, according to the director of its Middle East and Central Asia department.
The UAE is expected to be the biggest spender in the GCC on home interiors and fit-outs, with an estimated $1.5 billion (Dh5.5 billion) budget in 2013 as the country’s residential market continues to grow.
Yields on Egyptian three- and nine-month treasury bills climbed on Sunday and the auction's size was reduced after a new central bank decree limited the amount of funds that banks can channel into money market funds to buy T-bills.
Dubai’s benchmark stock index rose to its highest closing level in almost four years while the Abu Dhabi market general index surged to its highest level since October 2008 on Sunday on the back of a rally in real estate and banking shares.
Khaleeji Commercial Bank (KHCB) has signed a three-way memorandum of understanding (MoU) with Bahrain Defence Force's Military Consumer Association (MCA) and its main supplier Glabrous International (GI).
Strength in global equity markets supported regional sentiment as most GCC stock markets ended Sunday in positive territory. The Muscat Securities Market general index inched up 0.20 per cent to close at 6,264.68.