Economy & Trade

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Asia and Turkey will also remain the most important trade partners of the UAE in terms of imports.
September 17, 2014 - 15:55 GMT
The UAE is likely to remain top export destination for India till 2030, and China is forecast to emerge as the second largest export market, displacing the US.

November 11, 2013

Prince Alwaleed Bin Talal and Kingdom Holding Company invested $300 million in Twitter in 2011 (Courtesy of the Guardian)
09:10 GMT

Saudi Prince Alwaleed Bin Talal and Kingdom Holding Company reported that their combined investment in Twitter increased to 200 percent on the first day of trading.

Mohammed Al Muallem, Senior Vice President and Managing Director, DP World, UAE Region, addressing the “Seatrade Shipping and Investment Forum 2013” in the UAE capital
07:46 GMT

Mohammed Al Muallem, DP World’s VP, said that the dynamic changes in the shipping industry and the diversification of developing GCC economies underpin the growing efficiency of the region’s supply chain.

November 10, 2013

Approximately 50,000 illegal workers are supposedly employed in Bahrain (Courtesy of Asia News International)
08:18 GMT

Embassies in Bahrain are helping the government crackdown on illegal workers in the country, estimated to be approximately 50,000.

November 7, 2013

Lenovo, the largest PC maker worldwide and an emerging PC Plus leader
12:21 GMT
(press release)

Lenovo Group announced results for its second fiscal quarter ended September 30, 2013. Quarterly revenue was US$9.8 billion, a 13 percent increase year-over-year.

The political situation in Lebanon and the conflict in neighboring Syria is becoming increasingly detrimental to trading activity within Beirut's stock exchange (Courtesy of the Daily Star)
09:11 GMT

Brokers are projecting that the Beirut Stock Exchange will continue to see "lackluster trading" in 2014 due to the country's political stalemate and the region's turmoil more generally.

The Arab food gap is affecting most types of farm products, including cereals, what and rice (Courtesy of the Saudi Embassy)
08:52 GMT

Investment shortages in the GCC agricultural sector has made the estimated food gap reach $23 billion, which represents more than 100 percent increase since 2011.

DP World
07:32 GMT

DP World and Kazakhstan Temir Zholy signed an agreement that will see DP World provide management advisory services for the development of the Khorgos Special Economic Zone and Inland Container Depot.

Real estate is one of the key sectors driving Dubai's growth. (Image credit: Shutterstock)
05:48 GMT

Propelled by vibrant growth in two sectors, Dubai’s economy is headed for the fastest expansion in six years.

November 6, 2013

Dubai Customs
08:00 GMT

Dubai has supported its position on the global map of automotive markets, through increasing growth in the value of its foreign trade in motor vehicles.

November 5, 2013

Anticipating the sweeps, hundreds of business owners shuttered their shops. In addition, commercial activity at the Jeddah Islamic Port dropped and food prices spiked.
12:36 GMT

Workers in unskilled positions, part-time office workers under the sponsorship of their parents and international schoolteachers have been particularly hard hit.

Dubai Customs
04:40 GMT

The Dubai Customs Training Center inaugurated a new training course specialized in gold and jewelry valuation.

November 4, 2013

Violators will be lodged in regular prisons, which fall under the jurisdiction of the Prisons Department.
14:40 GMT

With the amnesty period ending today, Saudi Arabia is now officially criminalizing those looking to make a living.

Saudi Arabia will begin inspection raids on Monday for expatriate workers in the country without labor or residency status (Courtesy of Gulf Business)
09:28 GMT

Saudi Arabia will begin deporting migrant workers without correct visa and residency status Monday.

November 3, 2013

Saudi Arabia ranks tenth lowest poverty rate globally according to the recent World Bank poverty report, but measuring poverty is often done in absolute rather than relative terms (Shutterstock)
06:47 GMT

A World Bank report ranks Saudi Arabia as having the tenth lowest poverty rate worldwide.

Many US refineries are old and configured only to process oil crudes from sources in the Middle East (Courtesy of CNN)
06:27 GMT

US demand for crude oil from the Middle East is projected to remain the same in the future since many US refineries are only designed to process crudes from the Mideast region.