Main headlines

September 9, 2013

United Arab Bank CEO Paul Trowbridge described the undisclosed deal as “priceless”.
13:10 GMT

The agreement with the Sharjah-based bank — who recently posted record half-year profits of Dh260 million, representing a 35 per cent year-on-year increase — follows similar Barcelona Middle East tie-ups with telecommunications firm Etisalat and Qatar Airways.

Last year, criminals from India created a fake website that claimed to be associated with the IDB and tried to collect money online. The fraud was uncovered and customers were warned by Indian officials.
11:00 GMT

The cost of a sheep for sacrifice has multiplied more than tenfold, and opened up doors for fraudulent activities.

The annual study, which benchmarks building costs in 47 countries, found that relative construction costs across the globe have been affected by substantial fluctuations in currency throughout the year.
10:44 GMT

Qatar and UAE remain in the top 20 most expensive locations to build, and with inflation running at around five per cent per annum, KSA has continued to move up the cost curve.

September 8, 2013

Qualified customers will enjoy free holiday packages, with the flexibility to choose their destinations. They will also have a chance to start repayment for their loans next year.
15:36 GMT

The offer us valid on new personal loans as well as on transfer or top-up of existing loans.

Be prepared for a turning of the cycle very soon, and the stock market is unlikely to keep its nerve in anticipation.
15:02 GMT

Financial markets will be unsure which way to jump this week but uncertainty is not usually something that markets like or choose to ignore. Frayed nerves generally take stocks lower and boost bonds.

With its isolated coffee shops and restaurants, Beirut seems to have lost its old charm. Pictured: an empty Beirut Restaurant.
14:00 GMT

The ongoing conflict in and outside of the country has hit the tourism industry very hard that most tourist destinations in this enchanting place reminds of a ghost city.

Despite the rising influx of refugees, the Lebanese state has yet to draft a comprehensive plan to meet increasing needs, particularly in the health and education sectors.
13:45 GMT

The World Bank is looking into establishing a Multi Donor Trust Fund to support Lebanon after its government requested a swift assessment of the social and economic impact of the Syrian conflict on the country.

The theme of the conference this year was, “Extending Horizon’s Charting Asia’s Flourishing Future.”
09:15 GMT

For AUD students, who worked hard to bid for hosting the conference in Dubai, the conference was a landmark event.

The NBK pointed out that the investment sector sales totaled KD176 million in July, almost double the amount seen a year earlier.
08:33 GMT

The increase in the average transaction size was partially caused by some y/y increase in the average size of homes purchased in July, but was mostly due to an increase in the average price per meter-square of both homes and plots.

September 5, 2013

The biggest damage resulting from the closure of oil facilities is the reduction in the production of oil and gas, which has caused a deficit in the general budget of the Libyan state.
14:54 GMT

The Libyan government said strikes at its oil fields and export terminals were pushing production levels back toward lows witnessed during the civil war.

Head of the Industrialists Association Nehmat Frem warned that Lebanon had crossed into dangerous territory when its public debt grew above $60 billion.
14:48 GMT

“Lebanon is almost the only country in the world where employers take the decision [to strike] when faced by economic risks,” Sleiman said at the news conference.

The country’s strong performance in terms of competitiveness rests on solid foundations made up of a high-quality institutional framework (4th), a stable macroeconomic environment (6th), and an efficient goods market (3rd), the report said.
13:55 GMT

Qatar ranked 13th on the global list of the 2013-14 Global Competitiveness Report’s index and the first in the Middle East region.

While Syria is not a big oil producer, investors are worried that a strike by Western forces against the country could spread unrest in the Middle East and disrupt supply from the region that pumps a third of the world’s crude.
13:29 GMT

Stock markets in the UAE and other Gulf countries continued to plunge on fears of an imminent attack on Syria.

 Battery life, a key challenge for most wearable devices, has improved to over 27 hours under Samsung's normal-use tests.
13:09 GMT

Samsung Electronics Co Ltd unveiled a smartwatch yesterday that works as an accessory to its market-leading Galaxy smartphones, with a small screen offering basic functions like photos, hands-free calls and instant messaging

Nearly 80 per cent complete and located in a prime residential area in close proximity to Dubai Mall, Emirates Towers, Burj Khalifa and the Financial Centre metro station, the Central Park tower will comprise 426 apartments (Pictured: Dubai's International Financial Centre).
11:20 GMT

“Central Park has been launched at an opportune time, when Dubai is experiencing growth and has proven its status as one of the most profitable locations for investments."