October 15, 2012
The International Monetary Fund has praised GCC states in their efforts to keep global oil prices stable, despite growing concerns of the US economy, the Eurozone and a slowdown in China.
For the first time, the prices of animals will be fixed as per their weight and kind across the country from this Eid, Ministry of Economy officials said.
Growth in GDP in Abu Dhabi is better than expected, with a current rate at around three percent fuelled by the hydrocarbon sector.
The cost of living in Qatar is on the rise as the Consumer Price Index notched a two per cent year-on-year, reflected by the increased cost of food in the gulf state.
Egypt is to enforce strict new closing times for shops and restaurants in an effort to save the country LE6billion ($1 billion), in electricity, according to the trade and industry minister, Hatem Saleh.
Jordan has enough wheat supply to last ten months, the Ministry of Industry has said.
October 14, 2012
Oil-importing countries in the Middle East are experiencing heightened risks as their budgets and external balances deteriorate, the International Monetary Fund (IMF) said.
Share prices in Saudi Arabia closed down 1.68 percent to an 11-week low yesterday as the market reacted to last week’s lackluster banking results, weak stocks and a dip in energy prices. The fall to 6,682 points leaves the index at its lowest mark since July 25, Reuters reported.
Iran is increasing non-oil exports in an effort to deal with a currency crisis and the effects of sanctions imposed because of its alleged nuclear ambitions. The Deputy head of Iran's Trade Promotion Organisation has said that that the sanctions "provide a special opportunity"
Inflation in Palestine is on the rise, as the overall Consumer Price Index increase by 1.42 per cent, when compared to September, fuelled by a15.49 per cent increase in fresh vegetables and other food stuffs.
The World Bank has offered technical and advisory support at both the local and central government levels, it has been announced.
Trade between the United Arab Emirate and Japan has increased 15 per ent year on year, in the first six months of this year, new figures show.
The International Labour Organisation has said that there are now 30 million more unemployed people globally as the financial crisis that broke in 2007 impacts of labour markets globally.
Industrial disputes in Jordan are on the rise, new figures show. Workers have staged 691 protests and work stoppages in the first nine months of this year, an almost 13 per cent increase when compared to last year.
A strike has crippled Egypt's Ain Sokha port, near the southern end of the Suez Canal, after workers took in defence of sacked colleagues, who they want reinstated.