Main headlines

January 19, 2014

he EU also will suspend bans on trade in gold, precious metals and petrochemical products while increasing a ceiling on financial transfers not related to remaining sanctions
03:55 GMT

The EU foreign ministers will announce the move in Brussels as soon as inspectors from the UN's nuclear watchdog, the international Atomic Energy Agency (IAEA), confirm that the agreement started to be carried out,

The Gulf Arab states have conditioned normalisation of relations with Israel on its acceptance of the 2002 plan drafted by Saudi Arabia for peace with the Palestinians
03:55 GMT

Israeli Energy Minister Silvan Shalom attended a meeting Saturday of the International Renewable Energy Agency in the United Arab Emirates, which has no diplomatic relations with the Jewish state.

January 16, 2014

HIA and Airport City span 29 square kilometers, 60 per cent on land reclaimed from the Arabian Gulf
21:30 GMT

Qatar’s delayed Hamad International Airport (HIA) is scheduled for a phased opening by mid-2014, a senior official confirmed.

In the 20-year history of the index, Bahrain has consistently achieved a score greater than 70, well above the world average.
21:15 GMT

Overall, the kingdom is ranked 13th out of 178 economies worldwide, between the US and the UK which rank 12th and 14th respectively and is the only Mena country to rank in the top 20.

All jobs previously occupied by expats will be considered vacant until qualified Saudi citizens can fill them, the ministry said.
21:07 GMT

Saudi Arabia refused to renew the contracts of 9,267 expatriate employees working in its public sector and rejected around 2,607 new applications last year in a bid to boost employment among its locals, according to a senior official.

Many in the private sector who received the publication asked, “What economic or social accomplishment is this special publication going to detail?”
20:07 GMT

A book on the president’s first-term accomplishments will soon be released – though it might take time for the book’s publishers to find such accomplishments.

Etihad will offer double daily flights to New York City this year (File Archive)
10:38 GMT

Etihad is doubling its flight offerings from UAE to New York.

Saudi Arabian authorities have deported over 60,000 workers since November (File Archive)
10:32 GMT

Many illegal expats are coming back to KSA to work regardless of previous government deportations and crackdown on undocumented workers less than three months ago.

MENA salaries are expected to increase across all sectors, and particularly within infrastructure, tourism and construction development (File Archive/Shutterstock)
10:21 GMT

Professional salaries in the Middle East North Africa (MENA) region are expected to grow six to eight percent this year.

Look for more high quality businesses preparing for IPO in 2014. (Image credit: Shutterstock)
07:23 GMT

MENA IPO activity is expected to remain on firm footing in 2014 following a strong uptick in listings in the last quarter of 2013

The forum’s founder, Klaus Schwab, told reporters Wednesday at the organization’s lavish headquarters overlooking Lake Geneva that the event seeks to “push the reset button” on the world’s crisis mode.
03:55 GMT

Organizers of the World Economic Forum said Wednesday that hundreds of public figures are expected to attend, including the leaders of Iran, Israel, Japan and Britain.

January 15, 2014

Adnoc said last week it wouldn’t renew its concession agreement with BP, Exxon Mobil, Royal Dutch Shell, Total and Partex to run the fields
20:05 GMT

Abu Dhabi plans to sell crude from its main onshore oil fields to major oil companies at a premium after a 75-year production agreement ended Saturday.

“Aggregate growth for the region is projected at 2.8 percent in 2014, firming to 3.3 in 2015 and 3.6 percent in 2016, well below the region’s potential,” it added.
19:25 GMT

The developing economies of the region “remain depressed” despite the global economy showing signs of strengthening this year, according to the World Bank’s Global Economic Prospects report.

If consulting firms want to invest in new markets, they should invest in the GCC. (Image credit: Shutterstock)
12:06 GMT

Despite a shortage of local talent, the GCC consulting market, which grew by 20 percent to $1.9 billion last year, is expected to be the fastest growing consulting market in the world in 2014.

Innovation often needs to be couple with a disciplined approach. (Image credit: Shutterstock)
10:46 GMT

The Academy will lead to a stronger support system for SME owners and future entrepreneurs and ensure that they have the necessary skills and experience to succeed.