Economy & Trade

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Security alerts due to rocket attacks and frequent air raid sirens have disrupted business activity and caused a drop in industrial output and consumer spending.
July 31, 2014 - 15:42 GMT
The Bank of Israel cut its benchmark interest rate to 0.5 percent Monday from 0.75 percent, partly to offset economic damage from the conflict.

June 25, 2014

Ibrahim Al Janahi presenting memento to HE Mohamed Saeed, Minister for Economic Development, Maldives
07:23 GMT

A three member Maldivian delegation led by His Excellency Mohamed Saeed, Minister for Economic Development, Republic of Maldives, visited Jebel Ali Free Zone last week to seek economic cooperation between Maldives and Jafza.

June 22, 2014

The funds are the first tranche of some $1.5 billion in mostly military aid which has been frozen since October amid US administration demands that the Egyptian government introduce democratic reforms.
21:18 GMT

"The Apaches will come, and they'll come very very soon," Kerry said in response to a reporter's question on whether the halt of deliveries expressed US antagonism to Egyptian authorities.

The banking sector is in good health, and the performance of the challenged Islamic retail banks has improved marginally.
14:23 GMT

The IMF says Bahrain’s fiscal deficit has continued on a rising trend in 2013, although by less than budgeted.

HE Jassim Al Zaabi and the Customs Authorities delegation in the Airport Operations Department at DXB
11:41 GMT

Dubai Customs received a delegation comprising representatives from federal Customs and free-zones authorities.

June 19, 2014

The data puts Israel in good company, with France, Belgium, and Australia, and in far better shape than Eastern European countries where the non-observable economy (NOE) is 10-15% of GDP.
16:42 GMT

The OECD estimates Israel's black economy at NIS 70 billion in 2012.

H.E. Ahmed Mahboob Musabih, Director of Dubai Customs
05:25 GMT

Dubai Customs has announced the launch of its services via smart watches, to keep up with the latest developments in the area of smart services delivery, offering more user-friendly and better accessible services.

Turkey stood 45 percent below the average for EU member states in terms of gross domestic product (GDP) per person, a comparison Eurostat makes using the purchasing power standard (PPS).
04:55 GMT

The statistics also revealed that a product bought for 100 euros in EU countries can be purchased in Turkey for the equivalent of 58 euros.

June 18, 2014

German defence group Rheinmetall is set to sign a 2.7 billion euro ($3.7 billion) deal in the coming weeks for the production of 980 Fuchs 2 military vehicles for Algeria.
21:28 GMT

Germany said this month it would adopt a more cautious approach towards arms exports after a 24 per cent surge last year fuelled a domestic debate on military sales.

"Payment difficulties do come up and it is not a straightforward place to trade with, but deals to Iran are still being done," another European grains trade source said.
14:22 GMT

Iran is not barred from buying food or other goods for humanitarian purposes under sanctions imposed over Tehran's pursuit of nuclear technology.

A significant change in borrowing behaviours reflects a more prudent approach in the UAE.
14:15 GMT

Borrowers dropped to 28%, says Department of Economic Development

During the event
12:05 GMT

Dubai Chamber of Commerce and Industry hosted its 2nd quarterly Business Councils and Business Groups round table meeting at its Jebel Ali Branch recently.

The market has been mainly driven by tourism growth (nine to 10 per cent) while the resident market has been growing but at a slower rate.
08:23 GMT

The GCC luxury goods market has continued to grow fast.

June 17, 2014

Ahmed Mahboob with Dominican delegation
05:41 GMT

H.E. Ahmed Mahboob Musabih, Director of Dubai Customs, has affirmed that DC’s core objectives for the time being are strongly in line with the Government of Dubai’s vision and strategic goals.

June 16, 2014

"The young men and women will receive fringe benefits including good salaries, financial incentives and vocational training," he said.
22:30 GMT

Only 1,760 young Saudi men and women applied for 11,751 vacancies made available by 70 private companies and establishments in the Saudi capital.

June 15, 2014

The money would go to the West Bank-based PA, Bseiso said, and a “special fund” would be set up to pay wages while the government discussed how to resolve the issue.
04:55 GMT

The PA has so far refused to pay Hamas’ 50,000 civil servants, who are not registered as its employees because they were appointed after the Islamist movement ousted bitter rivals Fatah – which dominates the PLO – from Gaza in 2007.