Economy & Trade
November 11, 2012
Jordan's Prime Minister has tried to calm fears over fuel price increase saying that 70 per cent of Jordanian citizens will not be affected, as the country grapples with and imminent IMF loan that will require the reduction in subsidies.
Bahrain’s economy is expected to grow at four to five per cent despite the unrest and global developments, as the government's paramilitary wing, the National Guard, is deployed at "strategic locations".
Egypt’s inflation rate grew to seven per cent in the 12 months to October 2012, marking a significant rise on September’s rate, official data showed Saturday.
Iraq has cancelled a billion-dollar arms deal that would have made Russia the second-largest importer of weapons to the country after the USA. Baghdad has cited potential corruption in the contract, which was worth $4.2 billion.
Consumers and business owners in Dubai have stepped into the final quarter of 2012 with renewed confidence and a brighter outlook on jobs and spending.
Iran's rate of inflation rose by 1.4 percent in the Iranian calendar month of Shahrivar (from August 22 to September 21) and reached 24.9 percent as Tehran struggles with Western sanctions and a currency crisis.
November 8, 2012
Blueprints for a Gulf union to replace the existing Gulf Co-operation Council (GCC) are still under review.
November 7, 2012
Financial reform is real and having an effect on the budget deficit already, says government minister.
The Dubai Chamber of Commerce and Industry organised a pre-mission briefing session for over 20 business leaders participating in the Dubai Chamber Trade Mission to Azerbaijan starting on November 13 and concluding on November 16 in Baku.
Dubai eGovernment Department (DeG) has hosted a delegation from Ras Al Khaimah eGovernment Authority who visited to get familiar with Dubai eGovernment’s leading eTransformation experience at UAE.
The Ministry of Finance organised a workshop on personal budgeting and saving mechanisms in the Sheikh Zayed Hall at the University of Ajman.
November 6, 2012
Jebel Ali Free Zone, home to the largest port and free zone in the Middle East, contributes a fifth to Dubai’s Dh300.83 billion economy, a top official said on Monday.
The Sudanese government reached out to Iraq last summer in a bid to obtain financial assistance, after claiming their oil revenue had been largely lost to South Sudan since the split. Sudan put in for 100 million, only to be told that Iraq could meet a tenth of this sum.
The Department of Economic Development in Dubai and the Emirates Authority for Standardisation & Metrology have signed a Memorandum of Understanding to promote commercial compliance among businesses.
H.E. Abdul Rahman Saif Al Ghurair, Chairman Dubai Chamber of Commerce and Industry, announced the opening of a representative office in Iraq’s Kurdistan region next year.