Saudi Arabia is trying to raise $200 billion over the next few years through stake sales in national assets such as airports. (File photo)
July 27, 2017 - 14:48 GMT
Saudi Arabia said it intends to privatize all its airports this year.
A rendering of Nakheel's Deira Islands. (Photo courtesy of Nakheel)
July 27, 2017 - 14:15 GMT
The developer saw a 22 percent decline in net profit, to Dh1.16 billion ($315.8 million) compared to Dh1.48 billion a year ago.
Banks and other financial institutions in the UAE to freeze all bank accounts of groups and individuals mentioned in the new terror list issued by Saudi Arabia and its allies on July 25, 2017. (AFP/ File)
July 27, 2017 - 14:05 GMT
The new terror list was announced by the UAE, Saudi Arabia, Bahrain and Egypt on July 25, 2017.
Oil prices finished higher after data from the U.S. Energy Information Administration showed a large drop in domestic crude and gasoline supplies. (File photo)
July 27, 2017 - 13:52 GMT
Oil prices rose to a fresh eight-week high on Thursday, as data showing further declines in US crude inventories added to optimism that the market was re-balancing.
Etihad posts disappointing results for 2016. (File photo)
July 27, 2017 - 13:38 GMT
Etihad Airways reported on Thursday $1.87 billion in net losses for 2016.
The Dubai government said on Wednesday that the Arabian Business website had been blocked, and its print edition stopped for a month.
July 27, 2017 - 10:23 GMT
Authorities in the UAE have banned Dubai-based Arabian Business for publishing false news.
With oil prices remaining relatively low, countries in the GCC are faced with the urgent need to diversify their economies. (AFP/ File)
July 26, 2017 - 12:43 GMT
GCC governments face significant challenges in their economic diversification efforts amid a sustained decline in oil prices.
DP World's core business is container handling which generates more than three quarters of its revenues. (File photo)
July 26, 2017 - 10:52 GMT
Dubai-based DP World said the Qatar boycott did not have any serious impact on its operations and container volumes.
Surplus reserves at UAE banks surged to AED 42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 percent from the first month of 2017, according to UAE Central Bank statistics. (Shutterstock)
July 26, 2017 - 09:14 GMT
Surplus reserves at UAE banks surged to AED 42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 per cent.
The agency said the foreign assets of the Saudi banks reached their highest level in May since July 2016. (AFP/ File)
July 26, 2017 - 07:00 GMT
Foreign assets of the Saudi Arabian Monetary Agency (SAMA) reached around SR2 trillion by the end of May.
Earlier this month, Saudi Arabia announced it would cut crude oil shipments in August. (AFP/ File)
July 26, 2017 - 00:58 GMT
Low imports of crude oil from Saudi Arabia will likely reduce US oil inventories, according to analysts.
Saudi Arabia on Monday approved the establishment of a national project for atomic energy. (File photo)
July 25, 2017 - 23:51 GMT
The Saudi Cabinet has approved the establishment of a national project for atomic energy.
The Jordanian ministry of tourism issued instructions to travel agencies, directing them not to send tourists to Wadi Rum, 300km south of Amman, and to avoid some roads in the south of the Kingdom, for fear of possible violence. (File photo)
July 25, 2017 - 23:36 GMT
The Ministry of Tourism instructed tour operators not to take tourists to Wadi Rum, according to a document obtained by The Jordan Times.
Turkey claims most foreign funds are linked to EU member countries. (File photo)
July 25, 2017 - 23:20 GMT
Turkey saw an increase of 11.2 percent in foreign direct investment (FDI) between January and May this year, compared to last year.
Saudi Arabia offered its first Riyal-denominated Sukuk to investors on Sunday this week. (File photo)
July 25, 2017 - 22:38 GMT
The Saudi Ministry of Finance announces that it has received significant demand for its first domestic Sukuk issuance.
Oman recorded a deficit of 21 percent of its GDP in 2016 as the oil price plunged to its lowest level in years. (File photo)
July 25, 2017 - 22:25 GMT
Oman’s government has slashed 20 percent from its subsidy bill over the past three years.