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Oil output in Iraq's Kirkuk slumps 90pc

Oil output in Iraq's Kirkuk has slumped to 30,000 barrels a day since June, 90 per cent down on earlier this year, and a federal pipeline to the Turkish port of Ceyhan may be out of action for over a year due to sabotage, Kirkuk's govern

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Foreign direct investment in GCC declines 14pc

Foreign direct investment (FDI) in the GCC fell to $24 billion last year from $28 billion in the previous year, down 14.6 per cent, according to United Nations Conference on Trade and Development’s (UNCTAD) annually published World Investm

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Jordan shoots unidentified drone near Syria border

Jordan's air force shot down an unidentified drone near the north-eastern border with Syria on Friday, a government spokesman said, the first such event announced by authorities since Syria's crisis began

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Jazeera Airways profits down 34pc

Jazeera Airways Group has reported a net profit of KD4.9 million ($17.3 million) in the first half of the year, down 34.7 per cent as compared to the same period last year.  

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Dubai residential sector 'shows signs of slowdown'

The rise of Dubai's red-hot residential real estate market is slowing as government steps to curb speculative buying have an impact and higher prices start to affect demand, consultants JLL said in a report on Sunday. Second

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Bahrain's stores vow to keep prices down in Ramadan

At least 50 of Bahrain's top supermarkets and food distributors have signed a pledge to keep prices down during Ramadan.   The memorandum of understanding (MoU) is a commitment not to raise prices and actuall

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Iraq's biggest oil refinery shut down

Iraq's biggest oil refinery, Baiji, has been shut down and its foreign staff evacuated, refinery officials said on Tuesday, adding that local staff remain in place and the military is still in control of the facility.  

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New clamp on terror funding in Bahrain

A plan to crack down on terror funding sources in Bahrain was high on the Cabinet's agenda yesterday (June 1).    Chaired by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, the se

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Bahrain private school shut down for safety lapses

A Bahrain private school has been shut down for safety and security lapses. Education Minister Dr Majid Al Nuaimi ordered City International School to close for flagrant licensing violations, said a report in the Gulf Daily News (

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Nawras’ 2013 revenue hits $133m

Omani telecom operator Nawras said its revenue increased 2.7 per cent in the fourth quarter of last year, from RO51.4 million ($133.1 million) for the same period in 2012. The net profit for the period was RO10 million, down 2.9 p

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