Economy & Trade

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The economist behind a plan to unlock at least $380 billion worth of assets from Egypt's black market says President Abdel Fattah Al Sisi.
Today
He predicts such reforms could more than double economic growth rates within five years by giving people access to credit and the protections of legal status

June 23, 2013

All 11 economists in a Reuters survey had forecast that the bank would keep rates unchanged
12:10 GMT

Egypt's central bank left its main overnight interest rates unchanged as expected on Thursday, as economic growth remains tepid more than two years after the uprising that ousted Hosni Mubarak.

Children of Dubai Customs Child Care Center with Clients and employees
11:16 GMT

Yesterday, on Sunday, 23rd, June, 2013, Dubai Customs has celebrated the occasion of “Haq Allaila” the mid-month of night of Shaban.

The GCC economies would continue to benefit from high oil prices
06:00 GMT

The GCC economies are expected to grow at 5.6 per cent by the end of this year, said a report citing a top regional banking official.

June 20, 2013

Qatar foreign trade saw rise according to figures
11:00 GMT

In April 2013 Qatar’s trade balance of goods showed a surplus of QAR 35.2 billion, i.e. an increase of QAR 0.8 billion, (2.2 per cent) compared to the same period of 2012, accordint to the QSA.

Tunisia's national flag
10:00 GMT

Tunisia's first issue of a sukuk (Islamic bond) is likely to be postponed to next year, adding to pressure on government finances, because of disruptions to legislative business.

HE Sultan Ahmed Bin Sulayem, Chairman of DP World, and Honourable Minister of Shipping Shri GK Vasan at concession agreement signing ceremony between DP World and Jawaharlal Nehru Port
05:42 GMT

DP World and Jawaharlal Nehru Port today held a ceremonial signing of the concession awarded to DP World to construct and operate a new container terminal at the port.

June 19, 2013

Only Saudi citizens are allowed to subscribe for IPOs
11:46 GMT

The subscriptions to IPOs (initial public offerings) in the Saudi stock market dropped drastically during the year, according to a recent economic study.

The UAE ranked second and its inflow rose 25 per cent to $9.6 billion
11:29 GMT

Foreign direct investment, or FDI, into Arab world rose by nearly 10 per cent in 2012 led by Saudi Arabia and the UAE, according to a latest report.

June 18, 2013

Arab Monetary Fund
11:26 GMT

The Arab Monetary Fund (AMF) will provide a $144 million loan to Yemen this year to help its financial reform programme, the fund said on Monday.

Department of Economic Development
09:31 GMT

Department of Economic Development will conduct a specialised workshop on the 1st and 2nd of July for new applicants in the 2013 cycle of the Dubai Human Development Award.

Dubai customs
06:28 GMT

The risk engine system that was developed by Dubai customs drew the attention of different government agencies in the country after having won the distinguished technical project award as part of DGEP 2012.

The ratings agency also downgraded the three leadings banks in the country
06:19 GMT

Lebanon’s public debt swelled by nearly $5 billion during the term of former premier Najib Mikati’s Cabinet, the secretary-general of the Association of Banks in Lebanon said.

Jordan remains the main source of remittance inflows to Oman
06:00 GMT

A World Bank report has shown that the sultanate received US$39mn in remittances from Omani expatriates in 2012, ranking it 145th out of the 165 countries for which there is remittance inflow data.

June 17, 2013

H.E. Ahmad Bin Humaidan, Director General of Dubai eGovernment
10:57 GMT
(press release)

Dubai eGovernment Department (DeG), has announced its readiness for its transformation into a smart government in line with the initiative of His Highness Sheikh Mohammed Bin Rashid Al Maktoum.

Moody's Investors Service has upgraded Jebel Ali Free Zone FZE's (JAFZ) Corporate Family Rating (CFR)
06:00 GMT

Moody's Investors Service has upgraded Jebel Ali Free Zone FZE's (JAFZ) Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD, and the rating on the US dollar-denominated trust certificates (Sukuk) issued by JAFZ Sukuk to Ba3.