Economy & Trade
June 9, 2013
The Central Bank of Egypt (CBE) announced a $1.6bn increase in Egypt’s net foreign currency reserves to $16.04bn at the end of May, but analysts warn this is a “temporary phenomenon”.
The Abu Dhabi Department of Economic Development (ADDED) said yesterday economic conditions in the emirate improved considerably in the first quarter this year led by an outstanding performance of local banks and the stock market that was further boosted by high global oil prices and inflow of tourists into the emirate.
Prime Minister Mohammed Salem Basindwa met on Saturday a Russian economic and investment delegation, headed by Russian deputy minister of Economic Development Alexei Likhachev who is currently visiting Yemen.
The statement comea a few weeks ahead of planned protests for 30 June and amid an already-ailing economy one year into President Mohamed Morsi’s tenure.
June 6, 2013
Sudan's investment minister Mustafa Osman Ismail has announced that the Iraqi government agreed on Tuesday to sell it oil but pay for its price at a later date.
June 5, 2013
Egypt's bourse dropped to a five-week low on Tuesday, making its biggest one-day loss in two months on increasing fears of political instability, while Gulf markets were mixed.
A global network of private companies were blacklisted by the United States on Tuesday for providing revenue to the Iranian government's leadership and helping it evade the pinch from international sanctions on Tehran's nuclear program,
The Dubai Chamber of Commerce and Industry’s Centre for Responsible Business organized an event to launch the Sustainability Network Task Groups for 2013.
Private financial wealth in the Middle East and Africa (MEA) is poised to grow 35 per cent to $6.5 trillion by 2017 driven by new wealth creation linked to strong economic expansion.
June 4, 2013
Dubai Airport Freezone (DAFZA) recently hosted two seminars in Rome and Milan to boost the United Arab Emirates’ economic ties with Italy.
Dubai Customs has succeeded in efficiently encountering attempts to smuggle red sandalwood, listed as an endangered species and prohibited to trade in under the CITES International Convention and local legislations.
H.E. Majed Ali Al Mansouri the chairman of the Department of Municipal Affairs (DMA) had received a delegation from the United Nations Human Settlements Program.
June 3, 2013
Dubai SME has launched the 8th cycle of the ‘Mohammed Bin Rashid Award for Young Business Leaders’ (YBL).
June 2, 2013
Egypt has converted $2.5 billion that Qatar lent it in December into 18-month notes and is working to convert another $3 billion lent this month into three-year bonds, Egypt's central bank governor was quoted on Thursday as saying.
Saudi Arabia exported nearly 1.06 billion barrels of oil in the first five months of the current year that yielded SR 428.6 billion, an economic expert was quoted by the local media.