The Labor Ministry had previously announced a steeper penalty for companies and institutions that fire Lebanese employees in favor of foreigners working under false titles. (Shutterstock)
December 04, 2016 - 13:24 GMT
The new warning by the ministry came after receiving new applications by Lebanese companies willing to negotiate over the layoffs of some of their staff.
Lionhorn boasts more than 20 years of experience as the Developmental Licensee (DL) for the nearly 100 McDonald's restaurants in the Western and Southern regions of Saudi Arabia. (Twitter)
December 04, 2016 - 12:00 GMT
Saudi Arabia's Lionhorn Private Limited assumed ownership of McDonald's business in Malaysia and Singapore on December 1, which includes a total of 390 restaurants.
Copper cables have the capacity to provide users with a maximum internet speed of 8 megabytes per second, while fiber optics can provide households with an average of 100 megabytes per second.
December 04, 2016 - 11:00 GMT
Lebanon's telecom minister has vowed to have the country fully connected by fiber optics by 2020, with the vast majority covered by 2017.
Eventually, up to 2 billion cubic metres of seawater will be transferred from the Red Sea to the Dead Sea annually under the Red-Dead project. (Shutterstock)
December 04, 2016 - 10:00 GMT
The US, UK, and EU countries have pledged donations towards the first phase of the Red Sea-Dead Sea project, which is slated to begin in early 2018.
The halal market includes not only food products and food services, but also pharmaceuticals, cosmetics, personal care products, and banking. (Shutterstock)
December 04, 2016 - 08:00 GMT
As the halal food industry continues to garner global interest, industry leaders in Barcelona are discussing ways in which the halal industry can have wider benefits for Mediterranean economies.
The investment vehicle will be seeded with two of DP World’s Canadian container terminals, with CDPQ acquiring a 45 percent stake of the combined assets.
December 04, 2016 - 07:00 GMT
Dubai World and Caisse de depot et placement du Quebec (CDPQ) have created a joint venture which will invest in global ports and terminals, including DP World’s Canadian container terminals.
Tadawul’s previous sector classification had limitations as it was not based on global classification standards. (File photo)
December 04, 2016 - 06:08 GMT
Adopting the GICS by January 2017 will enhance transparency in the local market and allow international investors access to better information on the performance of local sectors in Saudi Arabia.
In May, the General Authority for Petroleum announced an international tender for 11 oil and natural gas blocks in the western desert and Gulf of Suez. (File photo)
December 04, 2016 - 06:00 GMT
In its latest drive to lure back foreign investors to its energy sector, Egypt has received six bids for oil and gas exploration.
Impression of Mina Sultan Qaboos Waterfront Project. (OmanGBNews)
December 01, 2016 - 14:01 GMT
Omran holds 51 percent of the operating company launched to develop the 64-hectare Mina Al Sultan Qaboos Waterfront and is launching the first phase of development while waiting for potential partners to come onboard.
Careem has experienced rapid growth since its lauch four years ago. (File photo)
December 01, 2016 - 12:00 GMT
App-based car booking service Careem plans to add 15 cities in Turkey, Saudi Arabia, Egypt and Pakistan to its current roster of 47 cities.
The new group will seek to encourage self-regulation among advertisers, agencies and publishers. (Flickr/Elvert Barnes)
December 01, 2016 - 11:00 GMT
A new advertising industry association which includes brand giants PepsiCo, Emirates, Google and Unilever aims to promote ethical, responsible advertising in the Middle East.
Algerian Prime Minister Abdelmalek Sellal: Tunisian Assembly President Mohamed Ennaceur; the Emir of Qatar, Tamim bin Hamad al-Thani; Tunisian President Beji Caid Essebsi, French Prime Minister Manuel Valls and Tunisian Prime Minister Youssef Chahed at Tunisia 2020.  (AFP/Fethi Belaid)
December 01, 2016 - 10:00 GMT
Tunisia's International Investments Conference 2020 assembled global leaders under the theme of 'Road to Inclusion, Sustainability and Efficiency.'
Al-Rajhi Bank is the largest Islamic bank in the world, with assets of SR331.4 billion ($88 billion) at the end of first half of 2016. (Al Rajhi Bank)
December 01, 2016 - 09:00 GMT
Saudi Islamic banks will continue to operate in a tougher environment due to slower financing growth, but liquidity has now stabilized with the recent government injection.
The finance for this water project is also in response to Jordan’s call to help in dealing with the consequences of the Syrian crisis. (AFP/File)
December 01, 2016 - 08:00 GMT
The French Development Agency will provide two soft loan agreements totalling 132 million euros to support the state budget and the water sector.
The Coca-Cola beverages produced in the new bottling plant will be distributed in Gazan communities through 18 branded trucks which will move from city-to-city and from village-to-village. (Flickr)
December 01, 2016 - 07:00 GMT
Following a planned future expansion within the next three years, the Gaza plant will eventually employ 270 people, bringing the total number of direct Palestinian jobs across the West Bank and Gaza to more than 750.
Banking sources estimated CI Capital's market value at near 1 billion Egyptian pounds ($56 million). (File photo)
December 01, 2016 - 06:00 GMT
Egypt's largest listed bank is in talks to sell 70-80 percent of its stake in investment banking arm CI Capital.