Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.
Wojdan Shaherkani had refused to take part in the judo competition if she was not permitted to wear the hijab.
The Jordanian bank saw increased profits due to lower provisions and a rise in operational income.
Where is the best place to make your millions in the region? Gulf Business ranks the GCC states in order of highest earning potential.
The Egyptian Financial Supervisory Authority had rejected the decision, asking EFG to provide additional information.
The Gulf countries should learn from the Euro experience but create a monetary union soon, a Qatari central bank official has said.
Luxury retailers in the region need to innovate to attract savvy customers, says a new study by BCG.
The UAE- based telecoms company made a net profit of Dhs1.9 billion mainly due to increased international revenues.
Oil fell on worries that Spain may be forced to seek a lifeline from international lenders.
The media mogul has stepped down from some of the company’s subsidiary boards that oversee its British titles.
The group, with links to the royal family, has bought a 45 per cent stake in Native Land which operates in London’s wealthy Chelsea.
The emirate’s strong infrastructure investment is fueling growth in the economy, says new report.
The Australian government has permitted Etihad to increase its stake in Virgin Australia up to 10 per cent.
The technology company posted a year-on-year rise in quarterly revenue to $13.5 billion.
False hope and economic turbulence are threatening the reliability of the GCC’s oil income.
Daoud Rajha was reportedly killed in a bomb explosion during a meeting with ministry and security officials.
The government will ensure shops and supermarkets do not overcharge customers during the Ramadan period.
Saudi Basic Industries Corp saw its quarterly profit drop due to lower prices and production.
Facebook has 45.2 million users in the region while four million Arabs use LinkedIn, says new report.
The Kingdom plans to allow foreign firms to list on its stock exchange within a year, an official has said.
The low-cost airline carried 1.3 million passengers during the second quarter of 2012, up 15 per cent from Q2 2011.
The US-based bank saw overall net income fall to $2.94 billion in the second quarter of the year.
The Eurozone debt crisis is slowing down economies across the world, said the International Monetary Fund.
The country’s oil production fell 4.1 per cent to 27.7 million barrels in June compared to May.
Carriers in the region face a huge supply-gap of pilots and technicians unless they recruit drastically.
The telecoms company said that it made a net profit of $379 million in the second quarter of the year.
Rents for both villas and apartments have increased year-on-year in 2012, says a new report.
The UAE aims to increase exports from the new oil terminal as threats to close the Strait of Hormuz rise.
The new rule, introduced by the central bank, will begin next year and extend until the end of 2014.
Saudi Arabia’s announcement of five new laws will affect homeowners and businesses when they come into effect.