Kuwait: Gulf single currency not imminent

Finance minister tells parliament sufficient time is needed to prepare for planned Gulf single currency.


Oman Air buys 5 Embraer 175 E – Jets

First delivery of five EMBRAER 175 aircraft is scheduled for the first quarter of 2011.


Islamic bank pledges more support for farmers

IDB announces extra one billion dollars for farmers in project with United Nations food agency.


IEA: OPEC could lose in climate deal

Agency says OPEC worldwide demand for oil will come to 105.2 million bpd between now and 2030.


Ruler: Economic crisis will not deter Dubai's plans

Sheikh Mohammed says Dubai will pay debts, go ahead with development projects.


OPEC fears Copenhagen tax on oil and gas

13-member cartel seeks to ensure that its interests properly represented in post-Kyoto agreement.


Suez Canal revenue bears brunt of global crisis

Revenues drop by $1 billion in ten months to October due to fall in number of ships sailing through canal.


Kuwait six-month income exceeds full year target

Better-than-expected oil price raises Kuwait’s first half-year income by 12% above projected income for 2009/10.


Islamic banks weather economic storm

Banks that comply with Islamic Sharia law thriving due to 'conservative approach to risk'.


Exxon clinches Iraq oil deal

US major wins contract to boost West Qurna 1 field's production to 2.1 million barrels per day.


Moody's downgrades Dubai firms

Credit ratings agency says ratings outlook for government-linked DP World, DEWA, DIFCI, JAFZ is negative.


Iraq inks mega oil deal with BP, CNPC

Multi-billion-dollar venture is set to boost output at Rumaila field by up to 1.8 million bpd over its 20-year duration.


Libyan oil chief resumes duties

NOC’s website reveals Ghanem has returned to work one month after being replaced following his resignation.


'No real' economic crisis in Gulf states

Economic observers agree that Gulf states less impacted by global crisis than other countries.


Iran: EU firms in talks to bring gas to Nabucco

European firms in unofficial talks for Iran to join EU's flagship Nabucco gas pipeline project.


Arab-British Economic Forum opens in London

Arab, British senior executives, decision makers discuss new opportunities for business partnership.


Iraq to initial oil deal with Italian-led consortium

Consortium will sign preliminary deal with Iraqi oil ministry to exploit Zubair oilfield in southern Iraq.


Algeria seeks builders for world's third largest mosque

Algeria calls for offers to build Grand Mosque of Algiers, which could cost several billion dollars.


ADSIC, Microsoft Gulf sign MBSA, MoU

Strategic partnership between Abu Dhabi Systems and Information Centre, Microsoft Gulf aims to foster innovation advance e-inclusion in Abu Dhabi.


Sinopec, Kuwait agree on 9-bln-dlr refinery

Asia's biggest refiner, Kuwait Petroleum International sign MoU to build oil refinery in southern China.




Wall Street posts record profits as US hunger rate grows




Global crisis hit Dubai Airshow sales hard




Abu Dhabi to Host Global Media Leaders in March




Liberalisation harming Egypt's cotton industry




Syria opening up more to investment




Arab TV looks to Ramadan to make huge profits




War-torn Iraq short of 1.5 million homes




Burj Al Arab Hotel escapes crisis discounting




Islamic home finance offers new economy solutions




Oman Air - A partner of progress