Main headlines

June 29, 2014

 Family-owned businesses in the Middle East face a range of challenges that affect not only the success of the business itself, but also the professional and personal goals of their owners and their stakeholders at large.
16:03 GMT

Deloitte recently conducted a survey on family-owned businesses to assess two specific areas that have an impact on their companies’ operations and growth: governance and succession

Arabtec, which remained among the top losers last week, shed 27.23 per cent.
13:52 GMT

Fund managers and analysts do not expect major movements and said investors have already been liquidating their positions before Ramadan.

The Jordan Customs Department and the three telecommunications companies for landline, mobile and Internet (Umniah, Zain Jordan and Orange Jordan) have also linked to the system.
04:55 GMT

The Central Bank of Jordan (CBJ) on Saturday officially launched e-FAWATEERcom system to help citizens check and pay their bills electronically via different paying outlets.

Gulf oil produces who are members of the monetary union are talking to the UAE and Oman in a bid to persuade them to join the union, Kuwait’s finance minister said in press comments on Saturday.
04:55 GMT

The UAE and Oman opted out of the proposed monetary union before it was launched in 2010

“Income equality is important for sustainable growth. We can't fight income inequality with only macroeconomic policies. Turkey should increase its production capacity,” Dinçer added.
04:55 GMT

Turkey ranks third among the countries with the highest levels of income inequality.

June 26, 2014

EDL has written to the Finance Ministry that the allocation for fuel oil not be slashed from $1.8 billion to $2.2 billion.
23:28 GMT

An official at the state-owned Electricite du Liban said Wednesday that power plants have been shut down to limit fuel consumption, warning

Sultan Qaboos, who has been ruling Oman since 1970, responded by suspending the rules based on his understanding of the needs of the public, ONA reported.
22:57 GMT

Oman’s ruler Sultan Qaboos bin Said has put on hold the government’s decision to scrap price controls for most products after a public uproar triggered an intervention by his consultative council, state news agency ONA said.

The government may resort to using the old budget for the current fiscal year until the budget for the upcoming fiscal year, which begins on 1 July, is completed, according to a cabinet source.
14:54 GMT

The government is racing against time to complete the process of reviewing the budget for the next fiscal year, after President Abdel Fattah Al-Sisi refused to ratify it due to the growing deficit and heavy spending.

Despite efforts taken to stem the soaring prices in the emirate, evidence has indicated that property market is overheating.
13:51 GMT

However, house prices are expected to pick up as the real estate mortgage lending in the UAE rises.

 According to the figures, 16% of Israelis (822,000 people) ate less for economic reasons during the past year
12:10 GMT

About half of Israelis are dissatisfied with the economic situation, and more than a third are unable to pay their household expenses, according to the first section of the social survey published today by the Central Bureau of Statistics.

 Vinci said the contract includes the construction of 25 stations and the electric infrastructure surrounding the four-line network, which is expected to stretch 33 kilometres when finished.
11:59 GMT

The tramway in Qatar's newest planned city with a population of 200,000 is expected to open in 2018 with further lines added two years later

Bill Gates, co-chair of the Bill and Melinda Gates Foundation, expressed willingness to collaborate with  King Abdullah University of Science and Technology (KAUST) in research projects focusing on agriculture and food production.
04:55 GMT

On cooperation between Gates Foundation and Saudi Arabia, he said “Saudi Arabia is the most generous country in terms of overall philanthropy.

Oman has significantly increased state spending on healthcare in recent years, although it has also encouraged the private sector to take on a greater role.
01:14 GMT

Oman has set aside $3.38 billion in its 2014 healthcare budget, more than double the $1.3 billion spent last year, in part to sharpen its focus on combating non-communicable diseases, such as diabetes, hypertension and obesity, said a report.

June 25, 2014


The Business Insider World’s Best Airlines list was compiled using the criteria of the quality of the passenger experience and the airline’s punctuality
13:06 GMT

Oman Air achieved ninth place in the list, beating many of the best-known giants of the aviation industry, in areas such as its passenger experience.

Nakheel is able to prepay all of its bank debt ahead of schedule due to savings of around AED 23 billion on its business plan,
12:37 GMT

Dubai developer Nakheel will repay all AED 7.9 billion owed to bank lenders with an early repayment in August 2014, nearly four years before the final loan instalment due in March 2018, the company reported today.