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Insurers may have to pay $9m for Makkah crane crash

The insurance company of the Grand Mosque expansion project is required to pay Diya (blood money) to the heirs of the deceased a....


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Saudi Arabia's stock market pulls back as Egypt stalls

Saudi Arabia's stock market pulled back in early trade on Wednesday as buying in blue chips petered out, while Egypt's market st....


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Egypt lowers top tax rate and suspends capital gains tax

Egypt lowered the top tax rate and the threshold for companies and individuals in high income brackets on Sunday and suspended a....


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Egypt begins first trial run of ‘new Suez Canal

  Egypt began on Saturday the first trial run of its "new Suez canal," officials and state media said, ahead of the formal....


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GCC’s Hospitality Industry Seeing Rise In Job Vacancies – Report

The number of job vacancies in the hospitality sector in the Gulf region has gone up from 18,000 in 2009 to 61,000 in 2013, acco....


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Gulf OPEC members back keeping ceiling intact

Kuwait Oil Minister said he “strongly believes” that Gulf OPEC members support keeping the cartel’s production....


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Emaar Properties trims Egypt listing price, sees up to $334 mln float

The listing of Emaar Misr is expected to be the largest flotation on the Cairo exchange since 2007. Dubai's Emaar Properties an....


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Kuwait’s Al Ahli Bank buying Piraeus Bank Egypt for $150 mln

  Kuwait’s Al Ahli Bank will pay $150 million for a 98.5 percent stake in the Egyptian unit of Greece’s Piraeu....


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Egypt puts capital gains tax on hold for two years

Egypt's government put a 10 percent tax on capital gains on hold on Monday, reversing a key component of its economic reform age....


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Saudi Arabia’s March crude exports at 7.898 mln bpd, highest in years

Saudi Arabia’s crude oil exports rose in March to its highest levels in years at 7.898 million barrels per day (bpd), offi....


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