Economy & Trade

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The EIU predicts China will be the largest export market for the GCC by 2020.
December 17, 2014 - 02:27 GMT
Developing countries in Asia - particularly China and India - are rapidly becoming the biggest trading partners with Gulf Cooperation Council (GCC) countries ahead of other regions


Bassil reiterated that the size of trade between Lebanon and Latin America, which has about 12 million Lebanese and their descendants, has not exceeded $14 million per year during the last five years.
04:55 GMT

Foreign Minister Gebran Bassil signed a free-trade agreement with the Mercosur countries of Latin America, stressing the importance of maintaining good relations with the bloc.

December 17, 2014

HE Hamad Buamim and Mr. Vladimir Dlouhy, President, Czech Chamber of Commerce
04:40 GMT

In line with its strategy of promoting its members’ competitiveness in emerging markets, the Dubai Chamber of Commerce and Industry announced its plans to send out a trade mission to the Czech Republic in mid-2015.

Abdel Nour is expected to hold the council’s first meeting tomorrow to review future plans and the most important proposals for developing bilateral relations.
01:36 GMT

Minister of Industry and Trade Mounir Fakhry Abdel Nour issued a decree Monday stipulating the formation of the Egyptian-Chinese Business Council

December 16, 2014

H.E. Ahmed Mahboob Musabih presented with National Brand Award from INPRF & INOU by Akram Sabry
10:45 GMT

Dubai Customs has enhanced its rich record of international credits, claiming the Brand Award in the category of ‘Star Companies /Organisations’ in government sector.

Even at current oil prices, analysts estimate Qatar’s state budget might break even next year; it has huge fiscal reserves to cover any deficits.
04:55 GMT

Qatar predicted its economy would grow 7.7 percent next year, signalling the world’s top exporter of liquefied natural gas expects very little disruption to its finances

His Excellency Zoltán Jancsi; Khalaf Ahmad Al Habtoor
04:40 GMT

Khalaf Ahmad Al Habtoor, Chairman of the Al Habtoor Group gave his best wishes to the outgoing Hungarian Ambassador to the United Arab Emirates His Excellency Zoltán Jancsi.

December 15, 2014

Cheng Xinnong, the president of Qingdao Port with Ibrahim Mohamed Aljanahi, the Deputy CEO of Jafza and Chief Commercial Officer, Economic Zones World
09:41 GMT

Cheng Xinnong, the president of Qingdao Port said here on Sunday that Jafza has become a very important business and commercial hub for Asian companies, specifically Chinese firms.

Prices are set to remain under $100 oil a barrel
06:55 GMT

Zawaneh told The Jordan Times the “government should play it smart” and build the law based on an average price, “not to go for $30 and not to keep it exaggerated as $100”.

“We have a real problem with growth. There has been a real slowdown in the economy."
04:55 GMT

"It is a strategic threat to the country; not only poverty, but also wage gaps."

December 14, 2014

More than a million claimants have been paid and nearly all the $52.4-billion reparations bill has been met.
05:55 GMT

Iraq is seeking to postpone a final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait,

Corruption has a negative impact on development, creating obstacles to growth and causing particular harm to the poorest.
05:55 GMT

In 19% of cases, civil servants caught accepting bribes were left uninvestigated, with another 41 % of investigations opened but not concluded, according to a World Bank statement issued Friday.

The 1.85 million euro EU-funded project aimed at enhancing Lebanon’s tax collection process both quantitatively and qualitatively.
04:55 GMT

The European Union announced Friday the completion of a project to modernize Lebanon’s tax administration after nearly two years of cooperation between the French and Lebanese Finance departments.

December 12, 2014

Strong economic growth across the region has also led to an increase in demand for human resources professionals
20:06 GMT

Average salaries in the UAE for professional roles rose by just two per cent over the last 12 months.

December 11, 2014

The Ministry of Labor has taken penal action against as many as 707 companies and establishments, which failed to implement a mandatory Wage Protection Program.
16:28 GMT

Abdullah Abu Thunain, deputy minister for inspection and work environment development, said that the punitive measures were taken following raids carried out by inspectors

Bayoumi said that Egypt and the EU have implicitly agreed to resume the technical committees of the partnership’s work.
10:30 GMT

The European Union (EU) proposed a new trade agreement for countries participating in partnership agreements with Europe last week.