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The turmoil has left unemployment very high in both areas, 19 percent in the West Bank and 41 percent in Gaza.
08:55 GMT
The Israeli attacks on Gaza drove the Palestinian economy of Gaza and the West Bank into its first contraction since 2006, the International Monetary Fund said Thursday.

The Organization of the Petroleum Exporting Countries at a November meeting decided to focus on market share rather than cutting output,
07:55 GMT
Opec's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers.
Jordan is the third largest recipient of remittances in the Middle East and North Africa (MENA) from Gulf states, according to World Bank report.
07:55 GMT
As a net oil importer, Jordan’s widening trade deficit in the first nine months of 2014 was anticipated to decelerate in the last quarter of the year on account of lower oil prices.
Students of higher education, both in the Kingdom and abroad, will also receive two bonus stipends as will social security beneficiaries and the disabled.
06:55 GMT
King Salman ordered give two months’ salaries to all government employees will be processed and the money dispersed in three weeks.
Salman’s announcement on Thursday suggested the government remained willing to spend heavily despite the hit to its oil revenues from low prices.
06:45 GMT
A lavish payout to public employees ordered by Saudi Arabia’s new King Salman will help to sustain the kingdom’s consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.
Regulators and officials at the meeting will have to juggle political sensitivities and arguments over the budgets of cash-squeezed airlines.
05:55 GMT
2014 was the deadliest year for commercial airlines in almost a decade.
In November, Baker took a swipe at legacy carriers, accusing them of being "inefficient" and protected by EU policies.
04:55 GMT
Qatar Airways on Friday said it had purchased almost 10 percent of IAG, parent of British Airways and Spanish carrier Iberia.
He merged the Education Ministry and Higher Education Ministry and replaced Justice Minister Mohammed al-Issa,
04:55 GMT
Saudi Arabia's new King Salman ordered a cabinet reshuffle on Thursday but kept in place veteran Oil Minister Ali al-Naimi, Finance Minister Ibrahim Alassaf.

January 30, 2015

Iraqi crude production is climbing from a 35-year high.
22:18 GMT
“This price war is not just between Saudi Arabia and the U.S., it’s also intra-OPEC,” said Seth Kleinman,
GCAA said that the rules will cover both commercial and corporate use of drones in the country.Unauthorized drones in Dubai’s airspace temporarily halted air traffic for 55 minutes on Friday.
16:56 GMT
The UAE currently uses drones for official purposes such as to deliver documents and packages to its citizens as part of its efforts to upgrade government services.
The Al-Araby Television network, of which Al-Araby Al-Jadeed channel was the first to launch, addresses audiences in the Arab world, particularly the youth.
16:25 GMT
The Qatari-funded channel, Al-Araby Al-Jadeed, was launched from London on Sunday, a highly symbolic date as it coincided with the fourth anniversary of the 25 January Revolution in Egypt.

January 29, 2015

Affording a home and getting married is still difficult under Sisi for many young men unable to make a living.
16:35 GMT
Facing grim economic prospects at home, desperate young Egyptians are seeking jobs in Libya, a country sliding into lawlessness.
The supermarkets are using signs to direct people to the right cashier and inform them about the rule set by the municipality. (Source: Gulf News)
16:19 GMT
Dubai Municipality has asked supermarkets to provide one cashier specifically made for purchasing these foods due to several complaints made by Muslims in the UAE.
Earlier Wednesday, sacked employees staged a protest outside the casino premises in Maameltein north of Beirut.
16:11 GMT
Casino du Liban’s board of directors is reassessing its decision to lay off 191 employees.
But revenue growth was the weakest since the start of 2013, and spending rose faster.
16:05 GMT
Facebook posted a fourth-quarter revenue of $3.85 billion up 49 per cent from $2.59 billion in the year-ago period.
The United Nations figures point to 136,717 refugees registered with the organisation in Egypt.
15:59 GMT
Textual and visual representations of the Syrian refugee crisis have flooded international media outlets and the press releases of aid organisations since the Syrian uprising first erupted on March 2011.
Analysts said the outlook remained weak, especially with demand slowing in China.
15:31 GMT
Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years.
"We want to be treated like human beings, like real workers," said Leticia, a Filipina who was assaulted and raped by her employer several years ago.
12:34 GMT
A historic event in the struggle of male and female workers in Lebanon happened on January 25
The use of experimental projects to gain information about how the enterprise might best use gamification will help create a viable action plan.
11:49 GMT
What if the psychological concepts that underpin such apps could be harnessed to the benefit – rather than the detriment – of the employer in question?
Shell is one of the main major oil companies operating in south of Iraq, operating the Majnoon oilfield and leading the Basra Gas Company joint venture.
05:55 GMT
Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra.
The jobs will span the entire spectrum of the Abu Dhabi-based airline’s operations.
04:55 GMT
Etihad Airways will offer jobs to more than 6,000 UAE nationals over the next five years as part of its UAE national development strategy, the airline said.
Last year saw the region’s largest-ever IPO, with Saudi-based National Commercial Bank raising 6 billion dollars on its stock market.
04:55 GMT
A total of 27 IPOs were issued in 2014, raising a collective total of 11.5 billion US dollars, almost four times the 3 billion US dollars that was raised in 2013 from 25 IPOs.
Majid Al Futtaim... balance sheet solid with assets
of $12.25 billion.
04:55 GMT
Dubai-based mall operator Majid Al Futtaim signalled on Tuesday it expects the emirate to remain a magnet for shoppers, announcing plans to double its business within five years.
The phone is a 4G Android phone and has a five-inch Full HD device and is powered by quad-core 2.3GHz processor.
04:55 GMT
Despite the high price, it is not the most costliest phone in the world.

January 28, 2015

When looking for a real estate agent you can trust, the first thing to take note of is their license and other credentials.
15:43 GMT
Overestimating the selling price for a property is one of the oldest tricks in the real estate agent’s book.
The main failure, according to the letter, is the unique indexing mechanism put in place in Israel that will mean that gas prices will only rise.
15:35 GMT
The price of gas in Israel is currently linked to the US and Israeli consumer price indexes plus 1%, for eight years.
He said Iraq’s budget for 2015 had determined an average oil price of 60 dollars per barrel, down from 90 dollars per barrel in the budget for the previous year.
15:16 GMT
Iraq has offered discounts to European purchasers of its oil in February, similar to those offered by Saudi Arabia, amid signs of intense competition between OPEC’s two largest producers.
Of 2,000 Israeli factories that could switch to natural gas and reduce their production costs, only eight are currently connected to the natural gas supply.
14:35 GMT
Bureaucratic wrangling and ever changing regulations are frustrating what could be Israel's natural gas revolution.
Jordan seeks to buy 150 million cubic feet of natural gas per day from Cyprus, he said, adding that prices will be announced later
14:23 GMT
Jordan will sign an agreement to purchase natural gas from Cyprus before the end of June this year, according to a senior government official.
Revenue rose to $74.6 billion from $57.6 billion a year earlier.
14:14 GMT
The company sold 74.5 million iPhones in its fiscal first quarter ended Dec. 27, while many analysts had expected fewer than 70 million.
Saudi Arabia, as the world’s largest exporter of oil and the largest economy in the Arab world, has systemic importance to the world economy and the international financial markets.
14:02 GMT
Late King Abdullah bin Abdulaziz, the sixth king of Saudi Arabia, had a profound impact on the Saudi economy and oil policy.
The redevelopment of the former West India Docks, which traded in everything from tobacco to bananas, was championed by 1980s Prime Minister Margaret Thatcher.
13:39 GMT
Qatar Investment Authority (QIA) and partner launched a 350 pence-a-share offer direct to Songbird shareholders in December, hoping to add a financial district rivaling the City of London to landmarks already in its portfoli
“This time’s different from 2008 — there are far fewer developers and they are being smarter second time around,” said Alan Robertson.
13:15 GMT
“What’s happening right now is not a case of the property market bubble bursting ... but of deflating gently.”
The kingdom's reserves are estimated at $750 billion.
12:58 GMT
Saudi Arabia's new leadership will push forward efforts to diversify the growing but oil-dependent economy, while easing procedures for investors.
Oman Ministry of Housing has signed three agreements which will help boost aquaculture production in the country from 353 tons (2013) to 7,330 tons annually.
11:59 GMT
Oman Ministry of Housing has signed three agreements which will help boost aquaculture production in the country from 353 tons (2013) to 7,330 tons annually.
The poll noted that online hiring will be more important than ever before in 2015.
11:42 GMT
A staggering 84.1 percent of respondents working in HR departments conduct reference checks prior to hiring eligible candidates.
“The strong Gulf investment in the UAE property market has been attributed to their high confidence in the growth continuity of this sector,” she noted.
10:05 GMT
Qataris emerged the largest buyers of the property in neighbouring Dubai, UAE, with a per capita investment of Dh9.37 million ($2.55 million).
The U.S. shale revolution showed that forecasts of dwindling world oil supply were premature.
09:47 GMT
As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.
Since the deal with Hoegh was finalised, Egypt has signed a deal with Algeria for six LNG cargoes and expects to complete an agreement with Russia's Gazprom later this month.
04:55 GMT
Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms.
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company said on Tuesday.
04:55 GMT
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company.

January 27, 2015

There remains an active black market in the pound that is used by businesses and individuals, and the gap between this and the official rate has been widening for months.
21:20 GMT
Egypt's pound weakened to 7.43 per dollar from 7.39 at a central bank auction on Monday, the weakest level it has been allowed to reach.
The company stated that the project features residential components, including villas, townhouses and apartments.
15:49 GMT
Tourism Development Authority (TDA) has received approvals from the Egyptian Ministry of Defence, allowing Qatari Diar (QD) to implement its tourism project.
He added that the aim of the suspension is not to save import money, but rather that it was for security goals, eliminating slums and traffic incidents
15:24 GMT
Tuk-tuk prices increased due to the decision to ban importing tuk-tuks to provide $800m and reduce theft and looting crimes carried out by some tuk-tuk drivers.
UAE airlines have suspended flights to Baghdad after a passenger airline from UAE was fired at while landing at Baghdad airport on Monday.
15:14 GMT
“With immediate effect, we have suspended all flights to Baghdad. The safety of our customers and employees is always our first priority,” Etihad Airways said in a statement.
"Maybe we will go to $200 if there is a real shortage of supply because of the lack of investment," OPEC's secretary general added.
15:05 GMT
Oil's decline in 2014 was its second-biggest ever, after the collapse in 2008 which followed the record high.
Pilots said unregulated drones flown near airports can compromise aircraft safety leading to loss of lives.
14:44 GMT
“These drones are available everywhere now and people can easily buy them, but people have no awareness.
The year 2015 may just be one of the best times for people to go for their dream vacation as holiday spending could get cheaper anytime soon.
14:25 GMT
Cost of travel in 2015 set to get cheaper, thanks to sharp drop in fuel prices
Because of a restructuring of bad loans the amount was decreased to $2.5 billion, the daily added, noting that the increase in bad loans was one of the highest in the history of the bank.
14:14 GMT
The amount of bad loans that state-run Ziraat Bankası had at the time was almost TL 2.5 billion (approximately $1 billion), nearly four times the amount needed to establish a private bank.
In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro, Turkish lira, Russian ruble and South Korean won.
11:02 GMT
Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap in new currencies will be signed in the near future.
"What you call the Internet of Things, I call the Internet of Threats," he told the assembled global political and business movers-and-shakers.
10:57 GMT
The conclusion, in Ilves's words: "Basically nothing is safe."
Egypt suffered a severe economic crisis after an uprising in 2011 led to the overthrow of two presidents.
04:55 GMT
Egypt can expect economic growth "easily north of 4 percent" in fiscal year 2014-15, which ends in June, boosted by rising confidence and a windfall from lower oil prices.
Noting that there are currently 119,000 engineers in the Kingdom, which makes one in every 65 Jordanians an engineer.
04:55 GMT
The ratio of engineers to the population in Jordan is among the highest globally, Jordan Engineers Association (JEA) President Abdullah Obeidat said in a statement released Sunday.

January 26, 2015

Earlier this month, the chief executive of Qatar Airways said it would reduce its fuel surcharge, without saying when or by how much.
17:51 GMT
Dubai's flagship airline, Emirates, is studying whether to cut the fuel surcharge it passes on to customers to reflect recent drops in oil prices, its president has been quoted a saying.
Can an agenda driven small vocal minority with social media savvy derail a trillion dollar industry?
17:38 GMT
Can an agenda driven small vocal minority with social media savvy derail a trillion dollar industry?

The new airport, which will be spread over an area of 17,500 sq m, will be operated by Al Nasriyah under a 45-year contract, reported the Kuwait news agency.
10:37 GMT
Kuwait-based Al-Nasriyah Company has signed an agreement with Iraqi National Investment Commission (NIC) for the development of a new cargo airport in Diwaniya governorate of Iraq at a cost of $1.35 billion.
Luxury boutiques staffed with Russian and Cantonese speakers promise generous discounts, and raffles offer cars as prizes.
10:31 GMT
Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year.
That is why “there is [still] a lot of demand for the more established areas — Downtown and Dubai Marina — because the amenities tend to be better,” said Mahoney.
10:18 GMT
No one has a problem in agreeing that Dubai’s property sales and value gains have taken a bit of a softening in the last six months.
Middle Eastern equity and equity-related issuance totalled $11 billion in 2014, a 173 per cent increase from 2013.
10:03 GMT
Business has been booming recently, albeit with the recent oil price crash the best times are probably now over.
The euro hit an 11-year low on Monday after the election results, and US stock futures also fell.
09:44 GMT
Gold climbed towards a five-month high on Monday as an electoral win by Greece's anti-austerity party sparked fears of renewed instability in Europe.

He said the government is revising its draft budget to assume a base price of $40, from $72 a barrel.
04:55 GMT
Iran’s Government Spokesman Mohammad Baqer Nobakht says the administration can run the country with oil revenues below $40 billion in the next Iranian calendar year.
Over 1,000 Saudi businessmen and companies in various sectors are expected to attend the March Economic Summit.
04:55 GMT
Egypt’s government has sent invitations to more than 6,000 businessmen and 120 countries to participate in the summit.

January 25, 2015

Iran produced 16.331 million tons of crude steel in 2014, a 5.9 percent rise from 15.422 million tons in 2013.
13:20 GMT
Iran ranked first in the Middle East and 14th in the world in terms of steel production in 2014, the World Steel Association (WSA) said in a recent report.

Also with the new King continuing to back the veteran Oil Minister Ali Al-Naimi, any possibility of Naimi finally hanging his boots also disappeared
13:12 GMT
The passing of King Abdullah in the early hours of Friday led to speculation that a leadership transition could result in a change to the country’s oil policy and strategy.
In October, a document showed Germany’s national security council approved the export of arms to Saudi Arabia, Qatar and other countries in the Middle East.
12:52 GMT
Germany has decided to stop exporting arms to Saudi Arabia, the German newspaper Bild am Sonntag said on Sunday, citing government sources as saying the kingdom was “too unstable”
His company may not rival Google or German software maker SAP yet, but Gaza-based IT entrepreneur Saady Lozon has plans to change that (Picture: Facebook).
12:41 GMT
At the offices, dozens of women, most wearing headscarves, are busy at work, one group entering data on global trademarks for a company in the Netherlands.
 The company describes itself as building the next generation semiconductor platform.
12:27 GMT
The Yokne'am-based company, Amazon's first Israeli acquisition, is building an innovative semiconductor platform.
The Gulf powerhouse now finds itself locked in a battle for market share against unconventional producers
12:11 GMT
King Abdullah's death could not have come at a worse time for Saudi Arabia's vital oil sector as the absolute monarchy seeks to reassert its leadership in a fast-changing industry.
Nakheel had piled up a mountain of debt during five years of rapid growth in Dubai's property sector.
09:29 GMT
Dubai real estate giant Nakheel, hit badly during the global debt crisis, said Wednesday its profits surged 43 percent on year in 2014 to $1.0 billion.
Air traffic in Dubai was halted for nearly an hour on Friday due to public misuse of recreational drones near the flight path.
05:55 GMT
He said such recreational drones pose a serious risk to the safety of air navigation as well as passengers, he said.
Kuwait’s government has announced that it will launch a crackdown on illegal residents, which is expected to lead to the arrest of more than 100,000 residents currently living in the country.
04:55 GMT
The crackdown will be the largest operation ever, conducted by the authorities in Kuwait, an official said.
“The recent fall in the oil price is also a warning that the region cannot be over-reliant on energy resources for GDP growth."
04:55 GMT
The proposed Arab Stabilisation Plan, ASP, would build a regional framework to promote infrastructure investment and create jobs.

January 24, 2015

King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world's top oil exporter.
15:28 GMT
Oil prices rose on Friday after the death of Saudi Arabia's King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.
A tantalizing possibility is that King Salman could now accelerate some economic reforms that have been proceeding only slowly.
15:10 GMT
Saudi Arabia’s new king is expected to focus economic policy on creating jobs and multibillion dollar infrastructure projects to prevent tumbling oil prices from causing social tensions or undermining business confidence.
"What is happening now is Kingdom policy, not just the King's policy," said analyst Yasser Elguindi of Medley Global Advisors
10:59 GMT
Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role.

January 22, 2015

Oil prices are unlikely to fall further after a plunge of nearly 60 percent since June,
17:43 GMT
“Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this,” Abdul Mahdi told a conference in Kuwait.
He blamed the private sector for employing unskilled expatriates just because they are cheap hands.
17:40 GMT
About 2.5 million expatriates are either illiterate or have little or no education at all, Makkah Arabic daily reported on Wednesday.
Although this figure is relatively higher that the global average of 37 per cent of CEOs, it has declined from the massive 69 per cent in the previous survey.
17:32 GMT
Almost 44 per cent of CEOs in the Middle East said that they are ‘very confident’ that their company’s revenues will grow in the next 12 months,
 Can television survive amid digital challenge
07:08 GMT
Television has fared positively in an increasingly digital Middle East, but should be conscious of the ever-changing digital environment and the power it can provide in advancing regional television, said an industry analyst, commenting on a new report.
The two countries will jointly establish the industrial park,
06:54 GMT
Iran has entered into two partnerships with Chinese authorities in a move to set up an industrial park in the southern port city of Jask as well as expand cooperation in the agricultural sector, according to reports.
Born out of an agreement between the UAE and France, Louvre Abu Dhabi is touted as an architectural marvel.
04:55 GMT
Rising from the sands on partly reclaimed land and jutting into the turquoise waters of the Arabian Gulf, this is Abu Dhabi’s cultural masterpiece in the making.
The two associations have already identified the 200 families and have selected them based on how urgent their situation is.
04:55 GMT
Hundreds of low-income Emirati families caught up in debt or unable to sustain their needs will be given new accommodation and have their needs addressed.
The losses are likely to reach 21 percentage points of gross domestic product (GDP) in the countries of the Gulf Cooperation Council,
04:55 GMT
Losses from lower oil exports should sap up to $300 billion from economies of the Gulf Cooperation Council, the International Monetary Fund said on Wednesday.

January 21, 2015

Data from the Turkish Statistics Institute (TurkStat) shows that mutual trade volume reached $2.6 billion in 2009.
21:47 GMT
Turkey's mutual trade volume with Israel reached over $5.6 billion in 2014, representing a nearly 50 percent rise over 2009 despite lingering diplomatic tension between the two.
Iraq and Turkey have agreed to build a new natural gas pipeline
21:36 GMT
Iraq and Turkey have agreed to build a new natural gas pipeline, technical analysis on which will commence soon, a report said
The deal was awarded by the Hanwha Engineering and Construction
21:24 GMT
Alderley, a leading engineering company operating in the oil, gas, petrochemical and water industry, has won a contract to supply nine oil metering systems and small volume provers for a project in Saudi Arabia
The ambition was to save more crude oil for export.
15:00 GMT
Saudi Arabia is delaying by eight years its target of completing a clean-energy program that includes a $109 billion solar power project.
Bahrain EXPO 2015
13:53 GMT
Organisers said the show has grown by four percent this year and was filled to capacity.
The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday
13:28 GMT
The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday, compared with US$43.87 a barrel the previous day, according to OPEC Secretariat calculations.
Emirates Airline was the UAE’s most positively perceived home-grown brand in 2014.
12:58 GMT
Emirates was the UAE’s most positively perceived home-grown brand in 2014, according to a YouGov ranking.
 The UAE ranks as the number one economy in the Middle East
12:39 GMT
The UAE ranks as the number one economy in the Middle East in attracting and retaining talent, according to the Second Global Talent Competitiveness Index released on Tuesday.
The report also mentioned the vast refugee influx into Turkey from Syria as millions of people have fled the country's bloody civil war.
11:15 GMT
In a period of worsening employment figures and slower growth, as well as widening global income inequality.
hile its users may populate only a virtual country, Facebook says it generates a lot of real economic activity – $227 billion worth of economic impact and 4.5 million jobs in 2014
11:08 GMT
With 1.35 billion users of its Internet social network, Facebook would rank as the world’s second-most populous nation if it were a country.
"The fall of oil prices in the 80s was a main reason behind the collapse of many renewable energy projects," he told participants.
05:55 GMT
Oil prices have fallen by almost 60 per cent since June, crashing on worries over global oversupply and weak demand in a faltering world economy.
Fourth-quarter growth held steady at 7.3 percent from a year earlier, slightly better than expectations.
04:55 GMT
“The country’s period of miraculous break-neck growth is over, but let’s get over it.”
Oil prices have dropped by more than half since June as output has soared while demand growth has slowed.
00:00 GMT
Brent crude oil prices steadied around $49 a barrel on Tuesday after the International Monetary Fund cut its forecast for global economic growth in 2015 implying lower demand for fuel.

January 20, 2015

In early afternoon London deals, Brent North Sea crude for delivery in March fell 48 cents to trade at $49.69 per barrel.
12:50 GMT
Saudi Arabia can cope with low oil prices for "at least eight years", Saudi Arabia's minister of petroleum's former senior adviser has told the BBC.
But Tunisia's democratic election last year and a surging stock market are a contrast with the bloody turmoil in neighbouring Libya and Egypt
12:37 GMT
Four years after Tunisia sparked off the Arab spring uprisings, the country is seen as a rare regional success story, but its prospects hinge on it deepening reforms and attracting foreign investment.
The canal generated some $5.2 billion in revenues during the 2012/2013 fiscal year. (AFP File)
10:16 GMT
A section of the channel Egypt is building parallel to the Suez Canal suffered leaks in the early hours of Monday, causing no injuries.
Qatar’s support for former Egyptian Islamist President Mohamed Mursi and the Muslim Brotherhood created tensions with Abdel Fattah al-Sisi.
04:55 GMT
Qatar’s emir will attend an economic summit due to take place in Egypt in mid-March, sources from both countries said on Monday, in a sign of easing political tension between the Arab states
One of the most prolific industries currently operating in the Middle East and North Africa is big tobacco.
00:55 GMT
Tobacco consumption in the region is notoriously high. Smoking is everywhere. But who's running this powerful industry?