October 21, 2013
Oman’s inflation rate in August 2013 is the lowest compared to other GCC countries.
Paris-based Technip, a world leader in the energy management industry, said it has won a key engineering, procurement, installation and commissioning contract for a strategically important offshore project from Qatar Petroleum.
October 20, 2013
Ministries of Interior and Labor have started sending text messages to citizens, companies and establishments warning them against employing illegal expatriates and having financial dealings with them.
Pilgrims spent around 18 billion Saudi riyals across all sectors, compared to around 26bn riyals during hajj 2012.
According to a ministry statement e-mailed to The Jordan Times, the violators were mainly Egyptians (7,296) and Syrians (5,229).
October 18, 2013
Around 65 percent of private equity professionals investing within the MENA region expect an increase in investment activity over the next year, according to a Deloitte private equity confidence survey.
Although a contraction in the oil sector has affected real GDP growth, the consumer continues to be buoyed by gains made in the non-hydrocarbon sector as well as by high governmental expenditure.
A successful Dubai Expo 2020 bid would be a ‘major game changer’ for the regions burgeoning real estate sector, according to Danube Founder & Chairman Rizwan Sajan.
Kuwaitis and expatriates spent around KD280 million over the last seven days as part of preparations for the Eid Al- Adha holidays, reports Al-Kuwaitiya daily quoting sources.
Although the commercial sector in the Kingdom is facing a slowdown due to a drop in consumer spending, suppliers of luxury goods describe the demand for the expensive items as “good” and even surging.
October 14, 2013
While restaurants and food stalls near the Grand Mosque remain busy, gold stores remained empty, with shopkeepers looking bored, flicking through magazines and playing with mobile phones.
Hotel prices in Dubai are now considered the highest worldwide.
Governments in the MENA need to create around one hundred million jobs
October 13, 2013
The global economic recovery continues with improvements in long-lagging advanced economies but moderating growth in emerging markets, the International Monetary Fund’s managing committee has said.
The International Monetary Fund (IMF) executive board has agreed to dispense the third tranche of its “Stand-By Arrangement” (SBA) loan for Jordan to finance projects at a total of $258 million.