Economy & Trade
September 24, 2013
Saudi Arabia's GDP registered a record growth in the last five years to reach SR2.66 trillion ($580 billion) in 2012 compared to SR1.95 trillion in 2008, according to a government report.
September 23, 2013
Dubai Customs seized 1,960 white weapons in Jebel Ali & TECOM Customs Center during an attempt to smuggle two shipments of these weapons into the UAE.
The volume of consumer loans given by Saudi local banks rose by 22 percent to reach SR321 billion in the second quarter of the current year compared to the same period last year.
The DED in Dubai and the Dubai Health Authority have signed a joint agreement to share expertise and knowledge towards providing high quality licensing services in healthcare and related services.
The economic growth of Gulf Cooperation Council (GCC) countries is expected to slow down to 4 per cent this year, according to Euler Hermes.
A typical organisation loses five per cent of its revenues to fraud each year which roughly translates to a global fraud loss of more than $3.5 trillion.
September 22, 2013
Sudan has been under the US blacklist of states sponsoring terrorism since 1993 on allegations of harbouring Islamist militants despite reports of Sudan being a cooperative intelligence partner of Washington in the "war on terror".
Dubai Chamber of Commerce and Industry organised a seminar on the latest International Standard Banking Practices at its headquarters today as part of its efforts to update and inform the business community on the latest business practices.
Employment growth was relatively steady, in particular among Kuwaiti nationals and skilled expats. The latter two groups are crucial to the consumption sector, said the NBK in its report.
Dubai Customs inspectors of airport operations foiled a smuggling attempt of more than 830 grams of the narcotic heroin through Dubai Airport.
September 19, 2013
Commercial activity across Lebanon has declined by between 15 and 70 percent, parliamentarians said Wednesday, warning that the decrease in trade was forcing many businesses to close.
"Social equality is not only related to increases in pay; social justice is to provide job opportunities for people," Eissa elaborated.
Importing would strain an economy that is already crippled by international sanctions; falling currency value and decaying hard currency reserves.
“The size of the Saudi economy has quadrupled during the last 10 years to rank first among countries of the region and 19th at the global level,” said Abdullatif Al-Othman, governor of Saudi Arabian General Investment Authority (SAGIA).
September 18, 2013
Lebanon’s budget deficit in the first six months of this year continued to rise amid falling revenues and increasing expenditures, the Finance Ministry said Tuesday.