Algeria

Algeria’s Inflation Rate Slows
24/04/2014 04:58 GMT

Algeria’s annual inflation rate maintained in March its downward trend to reach 2% against 8.1% over the same period in 2013, said Tuesday the National Statistics Office (ONS). After reaching 2.7% in... More


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Bahrain

VIVA Bahrain in Deal with BT
24/04/2014 05:04 GMT

BT, one of the world’s leading providers of communications services and solutions, has signed an agreement with VIVA Bahrain, a leading mobile operator in Bahrain and a subsidiary of Saudi... More


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Egypt

Egypt to Pay Off Debts to IOCs Soon
23/04/2014 05:49 GMT

Egypt will pay about US$1 billion of the money it owes to foreign oil companies within the next two months, press reported, quoting Oil Minister Sherif Ismail. Egypt says it owes some US$6.3 billion... More


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Iran

VP Announces Number of Cash Subsidy Withdrawals in Iran
24/04/2014 05:20 GMT

The Iranian Vice President for Planning and Strategic Supervision, Mohammad Bagher Nobakht announced that overall, 2.4 million Iranians have withdrawn from receiving cash subsidies in the Second... More


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Iraq

Economic Interactions to Increase between Iraq and Iran’s Province
24/04/2014 04:55 GMT

Ilam Province Governor has said Ilam has plans to expand cultural and economic interactions with border provinces of Iraq. Mohammad Reza Morvarid who was addressing a meeting of provincial officials... More


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Kuwait

Kuwait’s Central Bank Warns against Oil Dependency
23/04/2014 05:13 GMT

Kuwait's rising public spending and dependence on oil revenues are preventing sustainable economic development, the GCC state's central bank governor said, echoing warnings from the International... More


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Libya

Libya’s Oil Production Still at Lowest
23/04/2014 05:01 GMT

Libya's oil production is currently around 220,000 bpd as several western oilfields remain closed due to protests, a spokesman for state-run National Oil Corp (NOC) said on Tuesday. The El Sharara,... More


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Oman

Tender for Hotel Construction in Oman
24/04/2014 05:00 GMT

The tenders submitted to construct two five-star and four-star hotels in the precinct of Oman’s ambitious Convention and Exhibition Centre (OCEC) are being evaluated to award the construction of the... More


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Qatar

Qatar Central Bank Launches "QNB Commodity Fund"
24/04/2014 05:11 GMT

QNB has launched its “QNB Commodity Fund”, an innovative and state-of-the-art investment tool that is regulated by Qatar Central Bank and provides a cutting edge growth potential to investors. “QNB... More


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Saudi Arabia

World’s Largest Desalination Project Launches in KSA
24/04/2014 05:22 GMT

Saudi Minister of Water and Electricity Abdullah Al Hussayen has commissioned the first phase of world’s largest desalination project, it was reported. The plant, located in the Ras Al Khair... More


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UAE

UAE’s Emaar Net Profit Increases
24/04/2014 05:13 GMT

Emaar Properties, recorded a net profit of Dh863 million (US$235 million) during the first quarter (Q1) of 2014, marking a 55% increase over the Q1 2013 net profit of Dh556 million (US$151.3... More


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Yemen

Attacks on Oil Pipelines in Yemen Reduce Oil Exports
23/04/2014 07:20 GMT

The repeated attacks against oil pipelines in Hadhramout in Yemen have led to exports decrease estimated at 800,000 barrel in February comparing to around two millions this April. A formal report... More


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General News

GCC Consortium to Acquire Dubai-Based NPS
23/04/2014 05:36 GMT

A consortium of GCC investors including Fajr Capital and Arab Petroleum Investment Corp (Apicorp) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services, Fajr... More


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