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The new T-bills have already started putting pressure on the commercial banks, which have had to earmark part of their Lebanese pound liquidity to buy the bonds. (Shutterstock)
December 16, 2018 - 10:30 GMT
The Finance Ministry intends to issue new Treasury bills over the next few days at at an interest rate of 10.30 percent instead of 7.50 percent like last year.
Oman has launched an aggressive drive to recruit more of its local citizens in its private sector. (Shutterstock)
December 16, 2018 - 10:14 GMT
Expats make up almost 90 percent of Oman’s private sector workforce, which the government has been trying to reduce through its Omanization policies.
The Prime Minister stressed the importance of maintaining the competitive advantages of the pharmaceutical industry and its reputation locally and internationally as the Kingdom's second largest exporter. (Shutterstock)
December 16, 2018 - 08:43 GMT
Razzaz said the government is ready to take measures and amend legislation to prop up the sector, enhance its competitiveness and bring down the barriers facing it.
Out of 280,000 residents, about 350 people are involved in the tourism industry in Jerash, which is 48km north of Amman. (Shutterstock)
December 16, 2018 - 08:33 GMT
Despite being the second most visited tourism attraction in Jordan, Jerash’s tourism sector does not provide jobs for 99 per cent of its population, experts said.
The Japanese official reviewed the Japan-sponsored peace and prosperity corridor initiative that aims to achieve peace and economic empowerment, especially for the Palestinians and the projects carried out in this regard. (Shutterstock)
December 16, 2018 - 08:04 GMT
Assistant Press Secretary / Director of the International Press Division of the Japanese Ministry of Foreign Affairs Natsuko Sakata said that Japan is mulling a loan of $300 million to Jordan.
Iran's trade surplus of mineral products hiked to $4.58 billion during the said period. (Shutterstock)
December 16, 2018 - 07:56 GMT
Iran's trade surplus of minerals observed a significant growth during the first eight months of the current Iranian year (March 21, 2018-November 22, 2018), Mines and Mining Industries Development and Renovation Organization announced.
Commander Rebecca Rebarich, a Pentagon spokeswoman, stated on Friday that the US Central Command (CENTCOM) was specifically looking to reimburse about $36.8 million for fuel costs and $294.3 million for flight hours, which were not included in the initial bills and were therefore paid for with taxpayer money. (Shutterstock)
December 16, 2018 - 07:36 GMT
Saudi Arabia and the United Arab Emirates should pay the US military $331 million more for the aerial refueling they received during the Yemen war, the Pentagon said, citing an "accounting error".
A MoU was also signed to extend the Saudi grant for maintenance of the King Abdulaziz Mosque in the Tunisian capital of Tunis. (Shutterstock)
December 16, 2018 - 07:25 GMT
Saudi King Salman and Tunisian Prime Minister Youssef Chahed on Thursday signed two agreements and a Memorandum of Understanding (MoU) at the Al-Auja Palace in Diriyah.
The first phase of the project, scheduled for completion in the first quarter of 2022, will include up to 3,000 hotel rooms, an airport to serve the destination, and yacht marinas, as well as residential properties and recreational facilities. (Shutterstock)
December 16, 2018 - 07:10 GMT
The Red Sea Project is an ultra-luxury destination that brings together a beautiful landscape, adventure and cultural heritage.
The currency recovered most of its losses after significant tightening by the country's central bank. (Shutterstock)
December 16, 2018 - 06:46 GMT
Lira tumbled but recovered most of its losses after significant tightening by country's central bank.
Turkish Parliament Speaker Binali Yildirim noted Turkey’s place among the world’s top 20 economies. (Shutterstock)
December 16, 2018 - 06:35 GMT
Turkey aims for $200B in exports in years to come, says head of business association.
The UAE Central Bank issued a statement on Wednesday. (Shutterstock)
December 13, 2018 - 09:00 GMT
The UAE and Saudi Arabia have started using digital currency which will be backed by fiat currency, Mubarak Rashid Al Mansouri, Governor of the UAE Central Bank, said on Wednesday.

The confidence level of Saudi CEOs about the global economy stood at 94 per cent this year as against 55 per cent last year.  (Shutterstock)
December 13, 2018 - 08:51 GMT
Chief executive officers (CEOs) in Saudi Arabia remain moderately optimistic about the growth prospects of the kingdom's economy, as it diversifies away from oil.
Under the agreement, travelers will be able to use either airline for their trips between the two countries and on some domestic connections. (Shutterstock)
December 13, 2018 - 08:46 GMT
The Indian airline Jet Airways has signed a codeshare agreement with Saudi Arabia’s budget airline flynas, which will improve the connectivity between major Indian and Saudi Arabian cities.
Solar and wind power generation has risen from 2 per cent to 10 per cent of the country’s generated power since 2014. (Shutterstock)
December 13, 2018 - 08:39 GMT
Renewable energy will contribute more than 20 per cent of the Kingdom’s total energy mix in 2020, Energy Minister Hala Zawati said on Monday.
Internet retailing in the UAE is valued at Dh7.4 billion - exclusive of VAT - in 2018, growing by 18.8 per cent over the previous year. (Shutterstock)
December 13, 2018 - 08:33 GMT
As the e-commerce market gains momentum regionally and globally, the UAE is making strides and the Emirates is rated the most advanced country for online shopping in the Mena and is ranked fourth among the top 10 developing economies.