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The United Arab Emirates has denounced the recent visit made by Iranian President Mahmoud Ahmadinejad to the Island of Abu Musa, terming this “first visit” as a “provocative act” and “flagrant violation of the Emirati sovereignty”. The UAE has recalled Read more
AAhmed Ben Bella, the first elected Algerian president, has died at his home in Algiers after a long illness. He was 96. He fought for France in World War II before he turned against it to gain independence for his Read more
Bahrain’s village of Al Eker has been rocked by a terrorist bombing that left seven policemen injured, three of them critically. According to Bahraini authorities, the blast was caused by a home-made bomb that targeted security forces stationed at the Read more
The Islamic Development bank (IDB) has agreed to inject $1.96 billion in socioeconomic and development projects to be carried out in several Islamic countries. Financing agreements were signed between the bank and the beneficiary countries during the 37th annual meeting Read more
The Palestinians living in the occupied West Bank and Gaza strip will receive $55 million assistance from the World Bank during the next two years. The money will support private sector led-growth and help public institutions to efficiently manage finances Read more
The Friends of Syria, an international alliance gathering over 80 countries, have recognized the Syrian National Council (SNC) as “the legitimate representative” of the Syrian people and as “the main opposition interlocutor” with the international community. The Friends of Syria Read more
Bahrain is planning to launch the fourth generation broadband services in 2013. International tenders for this mobile long-term evolution (LTE) services, or 4G, will be released shortly. LTE technology allows for more high speed downloads than in mobile networks. Three Read more
The crude & gas reserves of the Arab Gulf countries are estimated $65 trillion, or one third of the overall world hydrocarbon reserves, says QNB Capital in its latest analysis. The GCC oil & gas reserves represent 93 pc of Read more
Egyptian financial authorities are planning to sell plots of land in a bid to raise as much as $15 billion to help reduce budget deficit expected to reach this year $ 23.9 billion, about 8.7 pc of GDP of the Read more
Saudi Kingdom, world’s major oil producer and exporter, has decided to arm and help Syrian fighters stand up the brutal crackdown of the regime of president Bachar Al Assad, according to an Arab diplomat. “Saudi military equipment is on its Read more