Nicosia, Apr 15 : The UAE Minister of Economy Sultan Bin Saeed Al Mansouri has said that the worst period for the United Arab Emirates economy was over and described the steps taken by the government to create a sense of stability as positive.

He added that those responsible understood the size of the challenges and were currently well organized.

Nicosia, April 11 - In the face of interminable problems that have beset Iranian efforts to develop the South Pars gas field, the National Iranian Oil Company (NIOC) has warned Royal Dutch Shell and Spanish oil firm Repsol to submit their plans of action for the South Pars gas field and the Persian LNG projects within 45 days, otherwise they will be replaced by other qualified companies.

Athens/Nicosia - The United Nations on Friday said the rival leaders on the divided Mediterranean island of Cyprus have made "real progress" in reunification talks. "They have made real progress," said UN Secretary General's Special Advisor for Cyprus, Alexander Downer speaking to reporters. "They have put more on paper now, of an agreed nature, than any time since 1974."

The UN envoy said there was no fixed deadline to conclude the talks, which were progressing on a chapter-by-chapter basis.

Nicosia, Mar 19 : Shaikh Khalifa Bin Zayed Al Nahyan, the President of Abu Dhabi, has denied rumours that his government wishes to acquire companies owned by the Dubai Government.

He attributed the rumours to misinterpretations about the relations between the emirates and stressed that the impact of the global financial crisis on the national economy had been exaggerated.

Nicosia, Mar 17: The Federation of Gulf Cooperation Council (GCC) Chambers of Commerce and Industry have urged the governments of the six states to adopt a more comprehensive aid package aiming to stimulate growth and reduce the effects of the global financial crisis on businesses in the Gulf region.

The Emirates Business wrote on Monday that according to a study it had obtained, the Chambers expected the crisis to spread to other sectors in addition to oil, banks and construction.

Nicosia, Cyprus  - World champion Sebastien Loeb of France achieved another milestone in his illustrious rally career on Sunday when he won his 50th event, at the Cyprus Rally.

The Citroen driver Loew, 35, held off Finnish title rival Mikko Hirvonen for his third win in as many season races.

"This is incredible ... 50 is a big number," he said. "But I am not finished yet, now I am going for 51."