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Four Israeli soldiers killed in Gaza
Palestine - Sunday, February 16, 2003 |  An Israeli tank was hit by a massive explosion in the northern Gaza Strip Saturday in an attack claimed by Hamas. The Israeli army confirmed that four soldiers were killed in the attack. Witnesses said flames poured out of the vehicle following the blast, ... More>>
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Bank of Sharjah profit increases 17 percent
UAE - Saturday, February 15, 2003 | Bank of Sharjah has posted a 2002 net profit of Dh59.1 million, up 17.7 percent on the previous year. Assets swelled 15.2 percent to Dh2.22 billion, and deposits rose 17.1 percent to Dh1.76 billion. Loans and advances rose almost 30 percent to Dh1.33 ... More>> |
Tariq Aziz stresses Iraq has no banned weapons
Iraq - Saturday, February 15, 2003 |  Iraqi Deputy Prime Minister Tareq Aziz vowed on Friday that Iraq would give U.N. arms inspectors whatever help it could to prove it does not have any banned weapons of mass destruction. Hours after chief U.N. arms inspector Hans Blix delivered his report ... More>>
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Twelve Lebanese agricultural products get duty-free entry to the EU
Lebanon - Saturday, February 15, 2003 |  The European Union (EU) has approved duty-free entry for a list of 12 Lebanese agricultural products. As of March 1, produce from the Republic will enter European markets tariff-free or at a reduced rate of duty, reported the European Commission (EC). ... More>>
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Manufacturing activity increases in the UAE
UAE - Saturday, February 15, 2003 |  The UAE is developing into a major industrial hub and revenue from the manufacturing sector increased to Dh29.36 billion ($8 billion), contributing 12 percent to GDP, according to a Bank of Sharjah report. Besides, local and foreign trade, construction, ... More>>
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Blix: No concrete evidence that Iraq has WMD
Iraq - Saturday, February 15, 2003 |  Chief U.N. weapons inspector Hans Blix said on Friday Iraq had failed to account for many proscribed weapons and must explain what happened to suspected stocks of anthrax, VX gas and long-range missiles. Two versions of Iraq's Al Samoud 2 missile exceed ... More>>
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Yasser Arafat agrees to appoint Prime Minister
Palestine - Saturday, February 15, 2003 |  Palestinian leader, Yasser Arafat said on Friday he had decided to appoint a prime minister at the urging of international peace brokers. Arafat did not disclose, however, whom he would name to the post or when the appointment would be made. "In light ... More>>
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Egypt requests emergency meeting on Iraq crisis
Egypt - Saturday, February 15, 2003 | Egypt's foreign minister formally requested that the Arab League host an emergency summit on the Iraq crisis, Egypt's Middle East News Agency reported Friday. Ahmed Maher asked Arab League Secretary General Amr Moussa to convene the summit "as soon as ... More>> |
Cyprus and Egypt to sign economic zone agreement
Egypt - Saturday, February 15, 2003 | Cyprus and Egypt will sign a bilateral agreement for the delimitation of their exclusive economic zone Monday in Cairo, reported the Cyprus Weekly newspaper. Commerce and Industry Minister Nicos Rolandis is to head a delegation to the signing ceremony ... More>> |
Ongoing bid for second GSM operator in Bahrain
Bahrain - Saturday, February 15, 2003 | The ongoing bid for Bahrain’s second GSM license has a March 5 deadline for submitting proposals. Bahrain’s government terms and provisions in the license make it very attractive for interested parties. The Kingdom’s small and well-developed market ... More>> |
BMI plans Dubai International Financial Center office
UAE - Saturday, February 15, 2003 |  Bank Melli Iran (BMI) plans to open an office in the Dubai International Financial Centre (DIFC). The bank also plans to set up a subsidiary in Bahrain that will oversee operations of the bank's Bahrain and Oman branches. Director Zaferani Hassan, said ... More>>
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Khansaheb and NCP in $54 million car park project
UAE - Saturday, February 15, 2003 |  Khansaheb-NCP, a joint venture of Khansaheb Investments with British car parking major, National Car Parks (NCP), is investing about Dh200 million in developing ten to twelve multi-storey car parks in three years in Dubai, said a senior company official. ... More>>
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Seven percent increase in sales for Unilever
Middle East - Saturday, February 15, 2003 |  Consumer product company Unilever recorded a seven percent sales increase in the Middle East and Africa for 2002. Regional turnover increased by nine percent including the increase in the company’s holding in the Robertson's business. Operating margin ... More>>
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Cimar records 11.5 percent increase in profit
Morocco - Thursday, February 13, 2003 | Moroccan cement producer Cimar has declared an 11.5 percent rise in profits to MD 409 million ($41.2 million) for 2002. The firm, controlled by Italy’s Italcementi Group, said that sales rose 4.5 percent, less than analysts forecast, Cimar said, because ... More>> |
World Bank invests US $1.0 million in Jordan’s ICT Sector
Jordan - Thursday, February 13, 2003 |  The International Finance Corporation (IFC), the private sector investment arm of the World Bank, today signed a Subscription Agreement for a US $1.0 million equity investment in Rubicon, a leading Jordanian IT firm. Arranged by Jordinvest, the IFC ... More>>
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US criticizes abuse by Sudanese government
USA Sudan - Thursday, February 13, 2003 | Washington has issued harsh condemnation of the Sudanese government criticizing “unconscionable attacks” by government forces on civilians during battles with the rebel Sudan People’s Liberation Army (SPLA). State Department spokesman Richard Boucher ... More>> |
S&P predicts impact of Iraq war on economy
Middle East - Thursday, February 13, 2003 | A short war against Iraq would have little impact on the sovereign creditworthiness of Middle Eastern countries if governments made no radical alterations to economic policy, but a longer war would be more damaging, according to a report by international ... More>> |
Jordan's external debt up 7.7%
Jordan - Thursday, February 13, 2003 | Jordan’s external debt has increased by 7.7 percent to JD 5,350 million ($7,535 million) over the course of 2002, Finance Minister Michael Marto announced. Marto attributed the rise mainly to the higher value of the euro, in which a large proportion ... More>> |
TransGlobe reports rise in production in Yemen's oil field
Yemen - Thursday, February 13, 2003 |  TransGlobe Energy Corporation has reported increased production rates in Yemen. Oil output from Block 32 in the Tasour Field, in which Transglobe holds a 13.8 percent working interest, rose to more than 17,500 barrels per day (bpd) at the end of January, ... More>>
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NSGB sees 16.3 rise in net profits
Egypt - Thursday, February 13, 2003 | Egypt’s Nationale Societe Generale Bank (NSGB) announced a 16.3 percent rise in net profits to £E 165.3 million ($30.2 million) for 2002. Profits in the first half climbed 8 percent. NSGB is 45 percent owned by France’s Societe Generale and is the ... More>> |
Qatar-Kuwait pipeline plans still uncertain
Saudi Arabia - Thursday, February 13, 2003 | Saudi Arabia is still opposing a proposed pipeline through its territory to supply Kuwait with Qatari gas, despite Doha's insistence that the differences have been resolved, according to the report.
The London-based Gulf States Newsletter ... More>> |
Increased activity at Bahrain airport
Bahrain - Thursday, February 13, 2003 | The number of travelers using Bahrain airport rose by 17 percent from 160,709 in January 2002 to 188,670 last month, the Immigration and Passports Directorate announced. The number of people who crossed King Fahd Causeway in both directions fell from ... More>> |
Bahrain in effort to boost local employment
Bahrain - Thursday, February 13, 2003 |  Bahrain’s Labour Ministry will discontinue the renewal and issue of work permits for expatriates by 2005. The new regulations are intended to reduce the unemployment rate among Bahraini nationals. Once the new policy comes into effect, local firms ... More>>
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Syria to set up private free trade zones
Syria - Sunday, February 09, 2003 | The Syrian President issued a new decree regulating investment in the country's free trade zones (FTZ). The free zones, which are under the supervision of the General Organization for Free Zones (GOFZ), witnessed a good year in 2002 with an expansion ... More>> |
Investcorp purchases PlayPower
Bahrain - Sunday, February 09, 2003 |  Bahrain-based investment group Investcorp has acquired PlayPower, a manufacturer of commercial play systems and recreation equipment and accessories. Details of the transaction, which included the equity participation of PlayPower management as well ... More>>
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Arafat hails continuation of talks with Israel
Palestine - Sunday, February 09, 2003 |  Palestinian leader Yasser Arafat on Saturday welcomed the renewal of high-level contacts between the PA and Israel and called for additional talks. Israeli Prime Minister Ariel Sharon held secret talks with Ahmed Qurei, a leading Palestinian negotiator. ... More>>
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Iraq: No Evidence Thus Far Of Mining Of Iraqi Oil Wells
Iraq - Sunday, February 09, 2003 |  There is no evidence thus far that the regime in Baghdad has taken steps to blow up oil wells in the event of a US-led attack on Iraq, according to an independent industry and diplomatic sources. Therefore, suggestions that the regime is carrying out ... More>>
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Mubarak in Jordan for talks on Iraq and Palestine
Jordan - Sunday, February 09, 2003 | Egyptian President Hosni Mubarak arrived in Jordan Saturday for talks with King Abdullah II on means to avoid a U.S.-led war on Iraq and end Palestinian-Israeli violence. Mubarak, accompanied by senior officials including his intelligence chief Omar ... More>> |
National Bank of Dubai recommends 40 percent dividend
UAE - Sunday, February 09, 2003 |  National Bank of Dubai (NBD) has proposed a cash dividend of 40 percent for its shareholders for the year 2002, according to banking officials, the Gulf News reported. The bank's annual general meeting (AGM) which is to be held on March 15 will take ... More>>
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Suez Canal income up 26 percent
Egypt - Sunday, February 09, 2003 |  Income from Egypt's Suez Canal hit a record $190.7 million in January, up 26 percent from year-ago figures and from $179.5 million in December, the head of the Suez Canal Authority has said. Receipts stood at $151.4 million in January 2002. Ahmed Ali ... More>>
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Saudi Arabia to ask US to remove military forces from its territory
SaudiArabia - Sunday, February 09, 2003 | Saudi Arabia has made comprehensive decisions to prepare for an era of military disengagement from Washington, to enact what Saudi officials call the first significant democratic reforms, and to rein in the conservative clergy that has shared power in ... More>> |
SHUAA reports AED 11.7 million net profits
UAE - Sunday, February 09, 2003 |  SHUAA Capital has announced its third quarter consolidated financial results for the 9 months period ended 31 December 2002. The company’s revenues for this period were AED 39.2 million compared to AED 19.4 million in the comparable period last year. ... More>>
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Bahraini parliament rejects loan for un-Islamic project
Bahrain - Saturday, February 08, 2003 | The Islamist-dominated Bahraini parliament surprisingly rejected a $500 million loan deal signed between the Bahraini government and an international consortium to finance four development projects in the tiny Gulf island state. Members of parliament ... More>> |
RMC retreats from Jordan due to anti-Israel campaign
Jordan - Saturday, February 08, 2003 |  British company RMC Group announced in Amman, its withdrawal from the Jordanian market and the sale of its stake in the local company, Al-Ramz Ready Mix, to a Jordanian investor. The move came after disappointing corporate results which Al-Ramz attributes ... More>>
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Aroma of Arabian incense at Heritage Village
UAE - Saturday, February 08, 2003 |  The Dubai Department of Tourism and Commerce Marketing (DTCM) has organized a perfume exhibition at the Heritage Village during the month-long Dubai Shopping Festival 2003.
Chairman of the DTCM Committee for DSF 2003, Abdulla Hamdan bin Dalmook said ... More>>
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Mauritanian Bedouins re-enact wedding at Shindagha
UAE - Saturday, February 08, 2003 |  A large weekend crowd at Shindagha witnessed the staging of a Mauritanian Bedouin wedding at the Arabian Bedouin Life encampment.
The rituals began with a formal visit to the girl’s khaimah (tent) as the boy’s father and other relatives asked ... More>>
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Blix and El Baradei head to Baghdad
Iraq - Saturday, February 08, 2003 |  U.N. disarmament officials for Iraq, Hans Blix and Mohamed El Baradei, are expected in Baghdad Saturday to demand further evidence on Iraq's suspected weapons of mass destruction programs. Blix and El Baradei plan to meet with Iraqi officials over the ... More>>
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Morocco trade deficit decreases to $4.2 billion
Morocco - Saturday, February 08, 2003 | Morocco's trade deficit inched down 2.6 percent in 2002 to $4.23 billion, a senior official at the state foreign trade regulatory body said today. Exports rose 5.3 percent in value to 84.95 billion dirhams while imports edged 2.7 percent up to 127.8 ... More>> |
Omantel granted 172 million for expansion
Oman - Saturday, February 08, 2003 |  Oman has set aside RO66 million ($172 million) this year to expand and upgrade services at Oman Telecommunications (Omantel) ahead of the company's planned privatization. The group last year allocated RO82 million to improve services. "We are all out ... More>>
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Saudi Arabia exposes strategy to battle poverty
SaudiArabia - Saturday, February 08, 2003 | The world's leading oil producer and exporter Saudi Arabia has revealed a "national plan to deal with poverty" and set up a special fund to assist its poorer citizens. Speaking on state-run Saudi television, Social Affairs Minister Ali al-Namlah said ... More>> |
Nasrallah asks Arabs to stand by Iraq
Lebanon - Saturday, February 08, 2003 |  The leader of Lebanon's Hizbullah movement advised the international community against cooperating with America in a war against Iraq and urged Arabs to fight at Iraq's side. Sheikh Hassan Nasrallah also said a war in Iraq would lead to huge casualties ... More>>
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$7 billion funds repatriated to UAE and Saudi Arabia
SaudiArabia UAE - Thursday, February 06, 2003 | Saudi Arabia and the UAE together attracted about $7 billion in repatriated capital last year, according to a leading banker. Out of this, the UAE’s share was $2 billion and that of Saudi Arabia was $5.3 billion, said Ahmed bin Brek, CEO of Dubai Bank, ... More>> |
Finance Minister announces Jordanian budget for 2003
Jordan - Thursday, February 06, 2003 | Michael Marto, Jordanian Finance Minister, announced that projected state expenditure for 2003 had been set at JD 2,441 million ($3,440 million), up 6.6 percent on actual spending for 2002. Revenues are estimated to increase 5 percent to JD 2,125 million ... More>> |
26 percent increase in Etisalat's mobile subscribers
UAE - Thursday, February 06, 2003 |  Emirates Telecommunications Corporation (Etisalat) has reported that its mobile subscriber numbers had increased to 2.4 million by the end of 2002, up 26 percent on the year, and that a further 30,000 customers had been added in January. The increase ... More>>
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Gahwa corner appeals to thousands of visitors
UAE - Thursday, February 06, 2003 |  The whiff of freshly roasted coffee beans permeated the air as thousands of visitors to the Arabian Bedouin Life encampment followed their nostrils into a Majlis specially erected for Gahwa lovers is bringing to life the age-old traditions and customs ... More>>
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DTCM Director General inaugurates unique archaeology exhibition
UAE - Thursday, February 06, 2003 |  The Dubai Department of Tourism and Commerce Marketing’s (DTCM) Director General, Khalid A. bin Sulayem inaugurated an archaeological exhibition displaying exhibits and antiques dating back to the Neolithic period or Stone Age at the Dubai Museum yesterday ... More>>
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King Abdullah heads to Saudi Arabia for oil
SaudiArabia Jordan - Thursday, February 06, 2003 | Jordan’s King Abdullah headed for Riyadh on Tuesday in order to secure a Saudi offer to supply the Kingdom with oil in the event of a US-lead military campaign on Iraq. The beleaguered Gulf state is currently Jordan’s sole source of oil and oil derivatives. ... More>> |
World Bank investigates Syrian economic prospects
Syria - Thursday, February 06, 2003 | A World Bank delegation in Damascus is assessing the prospects for foreign investment in the Syrian economy and trying to identify obstacles. The delegation has met twice with the president of Syria's chambers of commerce, Rateb Shallah, since its arrival ... More>> |
Dubai Islamic Bank launches service subsidiary
UAE - Thursday, February 06, 2003 |  Dubai Islamic Bank (DIB) has launched Al Tanmyah Services Company, a subsidiary to provide security, maintenance and labor services. The company will initially offer its services to DIB and later expand to cover all UAE-based companies, a spokesman said. ... More>>
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Iraq refutes Powell's allegations
Iraq - Thursday, February 06, 2003 |  Iraq has slammed Secretary of State Colin Powell's speech to the Security Council calling it a "typical American show complete with stunts and special effects." Presidential adviser Lt. Gen. Amir Al-Saadi also said the United States had violated U.N. ... More>>
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Dover Petroleum’s first Egyptian well target confirms oil
Egypt - Thursday, February 06, 2003 |  Oilfield services company Schlumberger has reported that Dover Petroleum’s first target well in Egypt contains trapped oil in the porous dolomites. Electric logs also indicate that the carbonate reservoirs are extensively fractured. The fractures in ... More>>
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The Dubai Department of Tourism and Commerce Marketing’s (DTCM) Director General, Khalid A. bin Sulayem met the heads of delegations of the 10 countries who joined hands with the department in staging the Arabian Bedouin encampment during the Dubai ... 
The heritage and culture promotions organised by the Government of Dubai’s Department of Tourism and Commerce Marketing (DTCM) during the DSF 2003, received a fantastic response with about 235,000 visitors coming to Shindagha heritage sites during ... 
Iraq broke a $3.8 billion oilfield development contract, for the second time, with Russian oil giant Lukoil. The Ministry of oil insisted that the decision was final and that the government will not enter into any new discussions with Lukoil on the matter.
Golden Union, the leading Greek shipping operator, has chosen Inmarsat Fleet F77 as its preferred satellite communications system, following a successful maritime field evaluation (MFE) with Inmarsat and Nera at the end of 2002.
As part of the trial, ... 
Two Israelis were killed and one was lightly wounded in a shooting attack in the area of the West Bank city of Nablus early Thursday. Two Palestinians fired on a group of soldiers, killing two of them, Israeli sources said. The attackers were also killed ... 
