Most Popular

March 3, 2015

Iran and Iraq signed an agreement in 2013 under which Tehran would start exporting gas to Iraq to feed three power plants in Baghdad and Diyala.
17:34 GMT
Iran could begin natural gas exports to Iraq in May if security conditions improve, Iranian oil ministry website Shana quoted a senior official as saying.
Turkey's sole stock exchange said it planned to sell shares held by the national Treasury, adding it had started a process to select bookrunners.
17:30 GMT
Turkey's Borsa Istanbul has decided to go public, it said in a statement on Tuesday, in an offering that will see the $220 billion stock exchange sell up to nearly 43 per cent of its capital.
The UAE along with Saudi Arabia have pledged billions of dollars to support the Egyptian economy.
17:24 GMT
Investment climate in Egypt is improving and the country will be back on economic recovery if the new policies for the economic growth are implemented,
Vice President Sundar Pichai says Google, the leading Internet search engine and mobile software provider, is working with unnamed network operators on developing a cellular plan.
17:18 GMT
Google will soon be offering cellular network plans in a bid to bridge the gap between the realms of Internet services and mobile device software it dominates.
The dollar rose to as high as 95.505 .DXY against a basket of major currencies, its highest level since September 2003. The dollar index last traded at 95.417.
17:15 GMT
The dollar hit an 11-year high against a basket of major currencies on Monday, with the greenback gaining a broad lift after an interest rate cut.
Traditionally, C-suite executives have been recruited through headhunting agencies or referrals.
17:04 GMT
C-suite talent is scarce. This is why sourcing C-suite executives has become a global process.
The tower will be launched during the Economic Summit to be held in Sharm El Sheikh from March 13 to 15.
16:41 GMT
Egypt has unveiled plans to build a 200-m-high pyramid skyscraper, Zayed Crystal Spark, on an 798,000 sq m area at Sheikh Zayed City in Cairo.
The price decline by close to 50 per cent from its level in June 2014 has not translated into greater demand growth.
14:59 GMT
Supplies are plentiful and the market may be more worried about longer term consequence
Mobily's woes deepened last week when its audited results revealed it made a $243 million loss last year.
14:38 GMT
Saudi Arabia's market regulator is investigating possible insider trading in shares of telecommunications operator Mobily relating to its shock earnings restatement.
Samsung’s new Galaxy smartphones improve in two major areas: design and picture quality.
11:13 GMT
Samsung ramped up its camera technology in last fall’s Galaxy Note 4, and the camera is even better in the Galaxy S6 and S6 Edge announced Sunday.
Despite the absence of recent official figures that identify the number of working children in the Kingdom, a survey on child labour conducted in 2008 put their number at 30,000, according to the Ministry of Labour.
11:03 GMT
UNHCR figures indicate that 53 per cent of Syrian refugees in Jordan are below 18 years old.
The popular Indonesian tourist destination welcomed more than 3.7 million foreign tourist arrivals in 2014.
10:45 GMT
Dubai-based Emirates Airline has announced the launch of a new daily service to the island of Bali in Indonesia.
Many experts, including Al-Bloushi, believe there is a real need to educate people about the nature of work in the currency market and its outcome on investors and dealers.
09:19 GMT
It’s estimated that around 40 percent of Saudi dealers in the forex market are incurring losses due to their ignorance in currency market tools.
The three wealthy Gulf governments, deeply opposed to Mursi’s Muslim Brotherhood group, ramped up aid to Egypt after his ouster and are spending heavily to try to ensure the success of current President Abdel Fattah al-Sisi.
08:23 GMT
Egypt has obtained $23 billion in aid from Saudi Arabia, the United Arab Emirates and Kuwait in the 18 months since Islamist President Mohamed Mursi was ousted.
Saudi Arabia’s market, on the other hand, lacked clear direction and was nearly flat as oil edged down towards $62 per barrel.
08:10 GMT
Egypt’s stock market rebounded on Monday after bullish comments from government officials and executives and signs that the planned parliamentary election will go ahead soon.

March 2, 2015

Inflation should range between 3% and 5%, the report noted while the average economic growth expected is 7%.
21:38 GMT
President Abdel Fattah Al-Sisi is set to present the “Sustainable Development Strategy Egyptvision 2030” during the March Economic Development Conference.
Al Maraj also told reporters that he expected commercial lending in the country to grow after a temporary lull.
21:32 GMT
Bahrain’s central bank governor has warned of a possible slowdown in economic activity in the Gulf state due to the current volatility,
He said Oman’s banking sector expected to see profits expand 10 per cent in 2015, in line with growth last year; loan growth might be 10-12 per cent, compared to 11 per cent in 2014.
21:26 GMT
Oman plans to make its first sovereign issue of Islamic bonds, a OMR200 million ($520 million) issue, by mid-2015 to help finance a budget deficit caused by the plunge of oil prices,
Declining currencies in European countries whose citizens are among the leading buyers of Dubai homes are combining with falling oil prices and a tax on foreign property.
21:22 GMT
Emaar Properties PJSC, the city’s largest developer, reported an 18 percent drop in revenue from property sales last year compared with 2013.
Anyone who thought that Diaspora Jewry would be packing their bags on the way to Israel and buying new homes the moment they arrived, may have jumped to hasty conclusion
21:16 GMT
Diaspora Jews it seems are more concerned by the security situation in Israel, than in their own countries.
Conflict in the workplace occurs at times when employees are misaligned, uncooperative and have differences in their approach to work.
21:09 GMT
People often use the terms ‘conflict’ and ‘hostility’ interchangeably, but there is a difference between them.
Real sector outstanding foreign debt shot up more than sixfold, from $43 billion in 2002 to $268 million in 2013
21:01 GMT
Turkey is headed toward a major economic crisis, warned former United Nations Development Programme (UNDP) Turkey Director Bartu Soral.
A wave of back-to-the-city gentrification has seen property prices shoot up against a national trend of stagnation at best.
08:54 GMT
The acquisition is the latest in a string of eye-catching European purchases for Qatar, which already owns London department store Harrods and top French football club Paris Saint-Germain,
And it still doesn’t end there, because there’s another 10 percent VAT the customer has to pay when he buys the car – the $30,000 car now costs you a whopping $55,000.
08:36 GMT
Don’t Lebanese deserve to enjoy the same things that people in other countries take for granted?
That’s the vision, but then the mobile industry has a history of over-promising what it actually delivers with each G.
08:23 GMT
But first they’ll have to decide what 5G needs to do that the current, fourth generation of wireless networks can never offer.
Turkish Central Bank Governor Erdem Basci sought to calm jittery investors, appearing to dismiss rumors that he would resign and giving a brief lift to the lira currency after it tumbled to a record low.
08:02 GMT
Turkish Central Bank Governor Erdem Basci sought to calm jittery investors, appearing to dismiss rumors that he would resign and giving a brief lift to the lira currency after it tumbled to a record low.
The Abu Dhabi company is led by a team of executives who worked at Emaar Properties, including Emaar's current chairman, Mohamed Alabbar.tra
04:55 GMT
The project will be privately funded by an "investor developer" and possible international partners and will cost $75 billion to $80 billion over 12 years.

March 1, 2015

The new Cayman GT4 is the first high-performance sports car belonging to the GT family that is based on the mid-engine coupes.
18:10 GMT
German sports car manufacturer Porsche will celebrate the world premiere of two extreme sports cars at the 2015 Geneva International Motor Show.
Yemen and Iran’s civil aviation authorities on Saturday signed an agreement to operate direct flights between both countries.
18:06 GMT
This is a move many in the region will see as another sign of Tehran’s growing influence in the Arabian Peninsula’s poorest country.
The general reserve of the government accounts for 60 percent of the total government reserves and deposits, allocations for government projects is 32 percent and government’s current account 8 percent.

17:50 GMT
The government’s reserves and deposits with the Saudi Arabian Monetary Agency (SAMA) dropped at the end of January to SR1.39 trillion ($ 37 billion), the lowest level in 21 months.

Now that you’re applying for a higher position in the career ladder, your achievements are much more important than your day-to-day activities.
17:42 GMT
Your CV might have the best content, but if it isn’t designed in a professional manner, it won’t grab the attention of the person reading it.
Some optimism remained, however, as the majority of Iraq’s producing oilfields are located in the south of the country, well away from the area of conflict.
17:30 GMT
Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report.
“Iran will of course not interfere in the services of the companies but we want what they present in the Iranian market to be in line with Iranian laws,” he added.
17:15 GMT
Iran said on Sunday that it is ready to cooperate with Google to facilitate its services in the Persian Gulf region.
“We are on the verge of tremendous change, as both the amount of data available increases and methods for collection are increasingly embedded in modern life,” said Dr DiCerbo.“The key to harnessing this potential is identifying the most effective ways to capture this data and turn it into meaningful information educators can use to assist their students.”
17:10 GMT
The opportunities that online education tools provide in terms of student assessment, engagement and education outcomes was discussed at the recently concluded 2015 Global Education Forum in Dubai, UAE.
calls for the US to tamper with Open Skies agreements with the Gulf nations are at odds with the stance of other major US companies that benefit from the pacts.
12:20 GMT
A push by three US airlines to curb competition from Gulf state carriers has exposed divisions over free trade with other powerful US aviation players.
Based on the nine-year-old study indicators, non-Bahraini workforce has so far cost the country BD3.089 billion ($8.14 billion).
12:11 GMT
The expatriate community costs Bahrain a total of BD344.292 million ($907 million) every year – a monthly average of BD28.910 million ($76.2 million), said a report.
According to auditing giant Ernst & Young, from 2009 up until 2013, Islamic banking assets swelled at a rate of 17.6 per cent per annum.
08:40 GMT
In a modern financial sphere governed by the forces of innovation, diversity and progress, brokers and banking institutions can afford no room for the absence of Islamic Finance.
You encourage the user to click through and buy based on indirect recommendations generated directly from your other customers.
08:22 GMT
E-commerce is indisputably the battlefield upon which retail companies are duking it out to become the brands of the next decade.
The use of the bureau is for the benefit of the customers, economy and financial institutions offering the benefits, he said.
08:12 GMT
While choosing from a plethora of credit cards in the market, consumers should choose one which supports their lifestyle and at the same time gives them the flexibility of using their reward points anywhere.
However, withstanding a long period of oil prices below $60 per barrel might be problematic even for cash-rich Saudi Arabia
07:44 GMT
OPEC kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
For all the turmoil in the financial markets, Erdoğan's tirades have won praise from a class of industrialists who have thrived on cheap borrowing costs and political stability over the past decade.
07:25 GMT
An already-fragile Turkish lira hit a historic low of 2.5280 against the US dollar on Friday following fresh verbal attacks from President Recep Tayyip Erdoğan.
Titled ‘For Everyone’, the campaign will start from March 1, 2015 and is expected to increase the levels of public engagement in the mega event.
04:55 GMT
Dubai has announced the launch of a massive campaign, consisting of art sculptures and paintings, to increase public awareness about the impact of hosting Expo 2020.

February 27, 2015

Damac said the rainforest would be ready by 2019 to coincide with Dubai’s hosting of Expo 2020. It will import many plant species and integrate them into the dome structure.
10:15 GMT
A Dubai developer plans to recreate a tropical rainforest under a dome in the desert sheikhdom, adding to a collection of spectacles that include an indoor ski slope and the world’s tallest building.
He added that the Israelis have even invited some European companies which pre-qualified in the off shore gas tender in Lebanon to participate in the new licensing oil round in the Golan Heights.
10:08 GMT
Israel intends to invite oil companies to bid for 10 oil blocks in the Golan Heights that are 60 kilometers away from the Lebanese border.
The canal, the fastest shipping route between Europe and Asia, earns Egypt around $5 billion per year, a vital source of hard currency in a country whose tourism and foreign investment have slumped
09:52 GMT
Egypt's military could help build an industrial hub around a new Suez Canal, the project's manager said, the first suggestion that the armed forces may play an important role in the huge investment venture planned alongside the new waterway.

February 26, 2015

The official Petra news agency said that the agreement signed in the Jordanian capital, Amman, would set in motion the implementation of the first phase of a long-awaited project.
22:30 GMT
Jordan and Israel signed a deal on Thursday to build a pipeline to link the Red Sea with the shrinking Dead Sea and combat regional water shortages.
Using Mashreq’s online platform, customers can upload a photo from their cell phone and receive a credit card with the same photo on the front.
22:24 GMT
The latest came from UAE-based Mashreq, which announced on Thursday the launch of a ‘selfie’ credit card, in a bid to capture younger customers.
Eight in 10 HR professionals also said it is a challenging environment to identify skilled professional-level employees for their organisation.
22:18 GMT
Up to 40 per cent of HR directors plan to recruit staff in the UAE in the first six months of 2015, with their companies set to add new positions, according to a new study.
Flights will be subject to increased safety and security requirements, the regulator said.
21:58 GMT
The United Arab Emirates’ civil aviation regulator has given approval for local carriers to resume flights to Baghdad.
"I expect this slowdown will last a couple of years, and when things are slow, good sectors in invest in are healthcare and education."
21:50 GMT
A proposal by Qatar's Investment House for a QR750 million ($206 million) flotation of an agricultural firm has been shelved by regulators.
US shale oil output growth is not expected to start slowing before the second part of 2015.
21:46 GMT
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.

This high-speed line could mean that it would take as little as 35 minutes to reach Doha from Bahrain, with plans to double the line so that it can also accommodate goods traffic by 2027.
21:29 GMT
Plans for the multi-million dinar development of Bahrain's east coast are being drawn up with one eye on the Fifa World Cup due to take place in Qatar in 2022, a report said.
The project will save an estimated 550 billion rials (about $20 million) annually in fuel consumption, said the report.
21:19 GMT
Iran has started work on its €2.4 billion ($2.73 billion) high-speed railway network, which will extend about 400 km from capital Tehran to the city of Isfahan, said a report.
The bad news, however, is that the majority of the apartments are still offering higher rents compared to 2013.
21:13 GMT
We’ve been hearing for some time that Dubai rents are going to drop by about 5 per cent this year, but new data released by a property consultant on Sunday showed that a few locations have already started to see a slight decline in rates.
The new system of flexibility in approach to bidding allows for interaction between the IOC and potential host bidders prior to the host cities embarking on what has become a highly demanding and expensive two-year process of launching a formal bid.
20:57 GMT
There are growing signs that Dubai may be considering an Olympic bid in the near to medium term.
Global oil prices have sat above $100 a barrel for the best part of the past five years, partly due to soaring demand from China.
20:36 GMT
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.
The promotional campaign is oriented towards the Arab market, to support inter-Arab tourism, according to a Tourism Ministry statement released Wednesday.
08:20 GMT
The Ministry of Tourism and the Egyptian Tourism Promotion Authority (ETPA) are set to launch Thursday evening a promotional campaign entitled “Misr Qareeba” (Egypt is Close).
The ASQ Survey is the world’s leading airport passenger satisfaction benchmark programme.
07:57 GMT
QAIA has registered unprecedented improvements in all 36 listed services and facilities in both categories.
Most of this wealth was believed to have been transferred abroad under false names or the names of others holding the assets on his behalf.
04:55 GMT
Yemeni ex-president Ali Abdullah Saleh is suspected of corruptly amassing as much as $60 billion, equivalent to Yemen's annual GDP.

February 25, 2015

He noted that despite the challenges, the Kingdom’s reforms have “greatly” contributed to improving most economic and financial indicators.
19:37 GMT
A team from the International Monetary Fund (IMF) is carrying out a two-week review of Jordanian economic reforms.
It is useful to always remind ourselves that tragedy and the abnormal often hide behind the normal.
19:31 GMT
In fact, there is no such thing as normal. Or to put it another way: normal is the messy, inconsistent way we get through life.
Chief executives say they are taken aback by the scale and speed of the cutbacks
19:25 GMT
Shale oil producers are throttling back so quickly on drilling that US crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Gulf rivals.
In our view, it is intended to mean the party engaged to build the works (i.e. the constructing contractor) and not a designer or supervisor.
19:11 GMT
As Saudi Arabia has this key difference, it is important to understand the essential principles guiding construction contracts in the kingdom.
The European giants will have seven years to get used to the idea that they must re-schedule five or six matches in the winter of 2022.
15:26 GMT
Tuesday's recommendation to stage it over November and December is probably the best option for all -- even though Europe's major clubs disagree.
U.S. aerospace and arms companies have been pressing the U.S. government for years to ease restrictions on foreign sales of unmanned aerial vehicles –
14:33 GMT
U.S. drone makers are expecting a surge in sales of military and civilian drones to Gulf states after the State Department eased export rules last week.
The timing is sensitive as Riyadh is preparing to open its stock market, the largest Arab bourse, to direct investment by foreigners this year.
14:10 GMT
Mobily’s rise was remarkable. It turned profitable in 2006, a year after launching operations, and annual profits soared 854 per cent between then and 2013.
More than $3 billion worth of that will be allocated to expanding its fleet, which stood at 261 aircraft at the end of 2014.
13:47 GMT
Turkey's flag carrier Turkish Airlines said on Wednesday it plans about $3.74 billion worth of investment this year, including spending plans by its subsidiaries.
For businesses across the world the top reasons to retain and engage employees are linked to performance management and rewards.
13:18 GMT
As the Gulf region continues to grow and businesses expand, we are seeing huge competition for new talent and a focus on sustainable labour costs.
Bahrain and Saudi Arabia registered an increase of 2.6 per cent, followed by Kuwait with an increase of 2.57 per cent, Oman by 0.22 per cent, the UAE by 1.33 per cent.
10:25 GMT
Figures showed an increase in housing and utility prices in all the GCC countries in December last year when compared with 2013 figures.
Ooredoo owns 92.1 per cent of Ooredoo Kuwait.
09:59 GMT
Ooredoo Kuwait, the country’s No.3 mobile operator by subscribers, blamed on Monday foreign exchange losses, investments in Algeria and restructuring costs in Tunisia for wiping out its fourth-quarter profit.
It would mean that international buyers would have access to new sellers of energy that could be purchased at competitive prices and in turn drive down the price of Saudi Arabian oil.
09:47 GMT
US politicians are pushing to lift the country’s ban on crude oil exports, a move that if successful would challenge Saudi Arabia’s long held dominance over the global oil market.
Al-Naimi was the driving force behind Opec's recent shift in policy choosing not to cut output at its last meeting in November to support oil prices.
09:35 GMT
"Markets are calm now ... demand is growing," Al-Naimi told reporters on the sidelines of a conference in the port city of Jizan, southwest Saudi Arabia.
 Dubai is already a global trade hub, with Dubai International Airport one of the world’s busiest international airports.
09:24 GMT
what makes Dubai stand out is the Dubai Smart City initiative, which aims to make Dubai one of the world’s best-connected, smartest, and happiest cities by 2017.
Dubai residential property market also faces the prospects of softening of sales activity due to the new supply following declining sales and rental returns in the second half of 2014,
05:57 GMT
The supply of an estimated 14,000 new residential units in 2015 is expected to soften Dubai’s rents that had soared by up to 65 per cent since 2011.
To be just Sharia-compliant is not sufficient, and the strategies need to incorporate the emotional connections with consumers.
05:51 GMT
Themed "Internationalisation Strategies for Islamic financial Institutions," the meeting was attended by senior Islamic bankers and international experts from more than 15 countries.

February 24, 2015

“We are working on different levels to support SMEs in the Kingdom and will continue to do so,” the CBJ official added.
21:24 GMT
The Central Bank of Jordan (CBJ) said Monday it was working on several fronts with various stakeholders to facilitate extending credit to small- and medium-sized enterprises (SMEs).
 Eighty nine  percent of respondents in the Middle East and North Africa (MENA) consider creativity and innovation to be an important part of their life, out of which, 63.3 percent consider it ‘extremely important’,
21:16 GMT
Eighty nine percent of respondents in the Middle East and North Africa (MENA) consider creativity and innovation to be an important part of their life
Whether you’re moving to a new place or returning to your home country, it is important to get a realistic view of regulations that cost you money.
21:10 GMT
It is not uncommon for people to misunderstand the cost of living of a place to which they are relocating, returning or visiting.
At some of the leading shopping destinations, rental increases have shot up by an average 25-30 per cent on lease renewals,
21:00 GMT
With sector sales volumes dipping, new demands are placing an extra burden on them

The Arab world's most populous nation is struggling to cope with energy demand from a population of 85 million.
20:54 GMT
Egypt hopes to halt liquefied natural gas imports in 2020, Oil Minister Sherif Ismail said on Monday, as projects to develop its own gas fields are completed.
This spending comes when a declining oil price has put pressure on government spending across the Gulf region.
20:48 GMT
The United Arab Emirates (UAE) has signed a combined Dh9.48 billion ($2.58 billion) of defence deals on the first two days of the International Defence Exhibition and Conference (Idex 2015),
The bank said on January 18 it planned to raise up to QR2 billion through a sukuk which enhanced its Tier 1 - or core - capital.
20:43 GMT
The sale would be in accordance with Basel III banking rules and the final amount and currency of the offering would be decided by the board at a later date,
Obi Mobiles unveiled its second line-up of smartphones for the UAE market during the Dubai Shopping Festival 2015.
20:37 GMT
Obi Mobiles, co-founded by former Apple CEO John Sculley, is among the seven most popular smartphone brands in the UAE market.
Despite increasing threats, global security experts for the most part believe their organizations’ cyber security posture will improve in the coming three years.
12:43 GMT
More than half of business and government leaders in the Mena region identify cyber security as a strategic priority, compared to only 23 per cent in the US and 36 per cent in UK/Europe,
Russia isn’t the first Muslim-minority country to venture into Islamic finance.
12:22 GMT
Russia plans to open its first Islamic bank this year, seeking to attract Shariah-complaint funds as international sanctions push the economy toward a recession.
"The rise in foreign money in European football is nothing new, however investment in shirt sponsorship is increasing more rapidly than ever," said Glenn Lovett, the president of Repucom.
09:10 GMT
Companies in the United Arab Emirates and Qatar invested about 160 million euros ($200 million) this season, almost a quarter of the total spent by companies worldwide sponsoring the shirts in Europe's top six leagues.
But the international oil benchmark is still 6-per cent off a peak reached a week ago as worries about oversupply fester.
08:58 GMT
Brent edged above $59 a barrel on Tuesday after a 2-per cent slide the session before, buoyed by cautious optimism on the outlook for the global economy.
Reportedly, this was the fourth blast in the factory in the last 12 years.
08:52 GMT
Two people died and at least 13 were injured after an explosion at a factory belonging to Gulf Oil Corporation Limited in Hyderabad.
Oil’s sharp rebound earlier this year and fourth-quarter earnings reports were the main drivers behind equity market rallies across the Gulf.
08:29 GMT
Gulf equity markets were mostly soft Monday after oil prices pulled back again.
The expenditure adjustments in the GCC countries as policy response to oil price decline are expected to vary depending on the relative fiscal health of individual countries .
07:56 GMT
While the current oil prices are below most GCC countries’ fiscal break-even point, governments generally have the resources to help mitigate the immediate impact and maintain a supportive operating environment for economies.
It said the construction of 3,100 "residential units" began last year in West Bank settlements.
04:55 GMT
The number of new homes under construction in Jewish settlements on the Israel-occupied West Bank rose last year by 40 percent.

February 23, 2015

In general, Europe is entering a new phase of recession, and the instability and lack of economic growth is part of the current drop in oil prices, Al Hassani added.
20:08 GMT
Cyprus and Greece which are struggling following economic bailouts are looking to attract investors from the UAE.
A very small percentage of expatriates, working in managerial positions, are paid huge salaries but the vast majority is not.
19:44 GMT
The Labor Ministry has forced the minimum wage on the private sector to make sure that Saudis will not be exploited, the same should be done for expats.
Iran’s annual petrochemical output is forecast to hit 43 million tons by the yearend.
19:32 GMT
The country produced 40 million tons of petrochemical products since the beginning of current Iranian year.
In May 2014, Iran Privatization Organization Director Abdollah Pouri Hosseini said the country would privatize 186 state-run companies in Iranian calendar year 1393
18:00 GMT
Iran has transferred 38.471 trillion rials (about $1.127 billion) worth of shares of state-run companies to the private sector since the beginning of current Iranian calendar year.
The comprehensive project plan will be announced within two weeks.
17:49 GMT
The cost of the Suez Canal Development Project’s infrastructure is expected to be $15bn,
The U.S. initially sought restrictions lasting for up to 20 years; Iran had pushed for less than a decade.
17:41 GMT
The United States and Iran are shaping the contours of a deal that would initially freeze Tehran's nuclear program but would allow it to slowly ramp up activities.
In 2002, Saudi Arabia opened its telecoms market to competition.
17:02 GMT
Mobile and landline calls between telecom service providers will now be cheaper after the Board of Directors of the Communications and Information Technology Commission (CITC) approved a reduction in rates.
Workers’ trust and confidence in corporate leaders has increased modestly over the past four years, but the number of workers who think top management provides effective leadership overall has slipped slightly.
16:56 GMT
A new study on corporate leadership has revealed that less than half (48 per cent) of employees surveyed in the UAE have trust and confidence in their senior leaders.
Wide areas of the north and east – where much of Syria’s grain is grown and its oil is extracted – have been seized by the hard-line ISIS  group.
15:53 GMT
The Syrian government does not expect to import wheat this year because domestic grain supplies will be boosted by heavy rainfall and wider control over farmland, a minister said.