Main headlines

November 13, 2013

The former Prime Minister, who is said to have amassed a £50 million fortune since leaving office, was paid the staggering sum for two 30-minute speaking events over two days, at which he discussed global affairs.
20:03 GMT

The fee works out at more than £2,600 per minute. His wisdom, especially on the War on Iraq, is sure worth every penny.

“The UAE national population is estimated to be just under one million - and the estimated unemployment rate is 20.8 per cent of the national population. Now this is shocking, particularly in a country that provides over five million jobs,” Al Mulla said in remarks made to the Arabian Business Forum in Dubai yesterday.
17:51 GMT

Emiratisation efforts are failing to make a substantial dent in the unemployments figure of Emiratis.

Nokia launched its Lumia 1020 and Lumia 925 this week in Jordan (Shutterstock)
07:56 GMT

Nokia introduced the Lumia 1020 and the Lumia 925 to markets in Jordan this week, representing "the latest additions to [the] Lumia smartphone range."

UAE's Green Growth Strategy was launched in January 2012, before the UN PAGE partnership's formation earlier this year (Courtesy of UAE Interact)
07:28 GMT

The UAE is slated to host the first global conference on the UN Partnership for Action on Green Economy (PAGE) scheduled to take place in Dubai in early March next year.

Starting in December, Bahrainis will be able to take specialized courses to become certified social media managers and digital marketers (Shutterstock)
07:02 GMT

With social media activity growing 20 percent in the past year, Bahrain is looking to partner with a major social media organization to train employees on how to use it in their work in the hopes that it will benefit "education, entrepreneurship, and jobs" in the country's future.

Nexus has recently expanded its operations in Bahrain and Kuwait (Courtesy of Jobs4Bahrainis)
06:37 GMT

GCC's largest independent insurance broker, Nexus Group, has reported significant growth in its savings (36 percent increase), protection (31 percent increase) and employee benefits (17 percent increase) businesses.

OPEC provides 35 percent of the world's oil supply and expects total demand to reach approximately 90.78 mbpd next year (Shutterstock)
06:17 GMT

The Organization of Petroleum Exporting Countries (OPEC) has increased its 2013 forecast for oil demand growth based on " expectations of better-than-expected improvement" within developed country economies

Revenues for Emirates Airlines reached $10.8 billion in 1H 2013. (Image credit: Shutterstock)
06:00 GMT

Dubai's Emirates Airline on Tuesday posted a two percent increase in half yearly profits, blaming high fuel costs and an “unfavorable” currency exchange environment for the slow growth.

The Qatari market has also met the quantitative requirements as defined for emerging markets. (Image credit: Shutterstock)
05:00 GMT

Qatar Exchange welcomed the decision of the Standard & Poors (S&P) Dow Jones to upgrade Qatar from a “frontier” to “emerging market”, describing it as a positive step that will attract further foreign investments to the Qatari stock market.

  The return of Iran to the international community would be beneficial for its neighboring countries including the Persian Gulf Arab states, the top international oil executive has said.
04:55 GMT

Total SA, Europe’s biggest oil refiner, will resume business with Iran if diplomatic talks lead to the removal of sanctions, Chief Executive Officer Christophe de Margerie said at a conference in Abu Dhabi.

Egypt and the IMF have had a sometimes tense relationship because of national pride and the international lender's efforts to persuade Cairo to undertake politically sensitive economic reforms such as subsidy cuts.
03:55 GMT

The International Monetary Fund remains ready to provide aid to Egypt when Cairo requests it, a senior IMF official said on Tuesday without elaborating on when that might happen.

November 12, 2013

The Q7 model is Audi's highest-selling vehicle in the Middle East (Courtesy of Audi)
14:28 GMT

German automobile maker Audi announced this week that 2013 will be the first time that the company sells more than 10,000 car units in the Middle East in one year.

Sotheby's Middle East headquarters in Riyadh is set to open before the end of the month (Courtesy of Bloomberg)
13:50 GMT

Sotheby’s International Realty Affiliates LLC announced Monday that it signed a 25-year agreement to develop Sotheby's brand throughout Saudi Arabia, Bahrain, and Kuwait opening its first office in Riyadh later this month.

The proposed Islamic corporate governance center represents one of the first times that Dubai has attempted to standardize Islamic guidelines for corporate behavior beyond bank and insurance institutions (Courtesy of Emirates 247)
13:28 GMT

The government of Dubai told reporters Tuesday that it is planning to establish a center that sets standards for corporate governance based on Islamic values.

Lower oil prices and decreases in global demand further serve as a "deficit threat" for many Arab states since oil export receipts currently account for 80 percent of government revenues throughout the GCC (Shutterstock)
13:06 GMT

The International Monetary Fund released a report Tuesday that states that energy exporting states in the Arab world are "not saving enough of their oil windfall" and may collectively face a fiscal deficit by 2016 if current policies do not change.