Economy & Trade

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“The days when Arab immigrants come for a two- or three-week stay while seeking Canadian passports just to ask their employer to hike their salaries are over.”
Today
Gone are the days when you could benefit from Canada and the Gulf at the same time.

November 7, 2013

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.

October 31, 2013

According to the statement, Valeo, which currently includes 580 Egyptian specialised engineers, is to hire 150 engineers annually over the next three years.
13:49 GMT

“Valeo’s decision to expand its business in Egypt reflects the trust of international companies in [Egypt’s capabilities in] serving their clients worldwide," said the minister.

Khalid Bin Kalban, Managing Director and CEO of Dubai Investments
10:58 GMT

Dubai Investments PJSC [DI], the largest investment company listed on the Dubai Financial Market [DFM], has announced net profit of AED 161 million in the third quarter of 2013, a 98% increase compared to the AED 81.4 million profit in the third quarter of 2012.

According to the complaint the laborers work for between 12 and 16 hours daily and they are not paid overtime money.
10:46 GMT

The embassy official noted about 1,800 Ethiopian laborers face deportation or can even lose their jobs for demanding their rights.

industrial cities in Bahrain have helped in attracting foreign investments and achieving concrete growth throughout the last five years (Courtesy of Arabian Business)
07:20 GMT

Inflows of foreign direct investment into Bahrain reached a tumultuous $891 million last year, representing a fourteen percent increase from 2011's $781 million figure.

WIEF's decision to host the 10th round of the forum in Dubai is a positive sign that global markets look at UAE's biggest city as a hub for Islamic economy activities (Courtesy of WIEF)
06:19 GMT

Dubai has been selected to host the 10th session of the World Islamic Economic Forum in 2014, representing one of the largest gatherings to share knowledge and best practices in Islamic economy.

October 30, 2013

H.E. Ahmed Butti Ahmed presents Dubai Customs’ shield to the Director of RILO ME
11:07 GMT

His Excellency Ahmed Butti Ahmed Director General of Dubai Customs, received the Director of the Regional Intelligence Liaison Office in the Middle East (RILO) of Riyadh, Mr. Faisal bin Saud Al Mujaish.