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May 27, 2013

One Saudi Riyal
13:05 GMT
Total assets of ‘Top 100’ Saudi companies rose by 35 percent from SR 2.29 trillion in 2009 to SR 3.1 trillion in 2013, Al-Eqtisadiah business daily reported yesterday in its annual supplement on Top 100 Saudi companies.
The market reached an estimated $5.027 trillion in 2011
10:44 GMT
The global oil and gas refining and marketing industry is forecast to reach an estimated $7.783 trillion in 2017 with a compound annual growth rate (CAGR) of 6.7 per cent during 2012-2017.
(Getty Images photo)
10:38 GMT
Kuwait also revealed plans to build a permanent floating LNG storage and regasification terminal to cope with rising demand for gas in the Organization of the Petroleum Exporting Countries (Opec) member state.
New tech, social media driving growth of Oman's e-com platforms
08:00 GMT
The younger generation is adopting new technologies and social media faster than ever and has provided the much needed boost to the business-to-consumer (B2C) e-commerce market in the sultanate. And daily-deal shopping websites are looking to cash in on the increase in online shopping business.
The news comes one week before the Kuwait Energy and Efficiency Conference
05:00 GMT
The Gulf state has one of the highest energy consumption rates per capita in the world, with the average Kuwaiti using 22 times more resources than the country provides per person.

May 26, 2013

The system will make mass movement during pilgrimages simpler and faster
12:40 GMT
Abdullah al Nuaimi, UAE Minister of Public Works, has called for coordinated work by member nations on the GCC rail network, and has said that upcoming meetings will discuss the project's requirements and specifications.
The state of the construction sector appears to reflect its robustness that it has exhibited over the last couple of years
11:54 GMT
The magnitude of contracts within the construction sector continues to illustrate the Kingdom's appetite for heavy capital expenditures as about SR 49.1 billion ($13 billion) worth of contracts were awarded during the first quarter of 2013.
Jordan has been a natural candidate for a national solar power industry
05:00 GMT
Surrounded by regional crises, Jordan’s greatest challenge remains its chronic energy woes, with officials racing to develop local alternative resources to reign in skyrocketing electricity subsidies.
Overall gold demand dropped by 13 per cent in the first quarter this year
05:00 GMT
Gold has always been considered a safe haven for investments. When the markets crumbled in the past, investors ran to it for shelter. However, when this asset of last resort suddenly loses its lustre, investors change their tack.
Companies are choosing between market share and profit
05:00 GMT
Overcapacity in the global solar industry is unlikely to disappear soon, suggest data and strategies outlined in the recent financial reports of top manufacturers.

May 23, 2013

The work of the Ministry of Finance is being obstructed at every corner by bureaucracy and an IT system that presents more problems than solutions. (Photo: Marwan Tahtah)
13:18 GMT
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.
Egypt to boost fuel supply to ease po2wer shortages
12:13 GMT
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.
Pakistan had received similar help from the Saudis in 1998
11:03 GMT
Pakistan may get a bailout worth up to $15 billion from Saudi Arabia for its troubled energy sector, a Pakistani official told Dawn newspaper.
Brands have also begun to appreciate the importance of digital.
06:00 GMT
Regional online advertising spend is growing at a rate of around 25-30 per cent every year.
Newsweek.com will be entirely free to begin with, but there are plans to introduce a metered pay wall.
05:00 GMT
Newsweek re-launched the website in tandem with the US based design firm Huge, with three-to-five feature stories from Newsweek’s tablet edition (called Newsweek Global) will go live on the website.