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March 3, 2015

The price decline by close to 50 per cent from its level in June 2014 has not translated into greater demand growth.
14:59 GMT
Supplies are plentiful and the market may be more worried about longer term consequence
Despite the absence of recent official figures that identify the number of working children in the Kingdom, a survey on child labour conducted in 2008 put their number at 30,000, according to the Ministry of Labour.
11:03 GMT
UNHCR figures indicate that 53 per cent of Syrian refugees in Jordan are below 18 years old.

March 2, 2015

Declining currencies in European countries whose citizens are among the leading buyers of Dubai homes are combining with falling oil prices and a tax on foreign property.
21:22 GMT
Emaar Properties PJSC, the city’s largest developer, reported an 18 percent drop in revenue from property sales last year compared with 2013.
Real sector outstanding foreign debt shot up more than sixfold, from $43 billion in 2002 to $268 million in 2013
21:01 GMT
Turkey is headed toward a major economic crisis, warned former United Nations Development Programme (UNDP) Turkey Director Bartu Soral.

March 1, 2015

Some optimism remained, however, as the majority of Iraq’s producing oilfields are located in the south of the country, well away from the area of conflict.
17:30 GMT
Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report.
“We are on the verge of tremendous change, as both the amount of data available increases and methods for collection are increasingly embedded in modern life,” said Dr DiCerbo.“The key to harnessing this potential is identifying the most effective ways to capture this data and turn it into meaningful information educators can use to assist their students.”
17:10 GMT
The opportunities that online education tools provide in terms of student assessment, engagement and education outcomes was discussed at the recently concluded 2015 Global Education Forum in Dubai, UAE.
calls for the US to tamper with Open Skies agreements with the Gulf nations are at odds with the stance of other major US companies that benefit from the pacts.
12:20 GMT
A push by three US airlines to curb competition from Gulf state carriers has exposed divisions over free trade with other powerful US aviation players.
According to auditing giant Ernst & Young, from 2009 up until 2013, Islamic banking assets swelled at a rate of 17.6 per cent per annum.
08:40 GMT
In a modern financial sphere governed by the forces of innovation, diversity and progress, brokers and banking institutions can afford no room for the absence of Islamic Finance.

February 26, 2015

US shale oil output growth is not expected to start slowing before the second part of 2015.
21:46 GMT
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
The bad news, however, is that the majority of the apartments are still offering higher rents compared to 2013.
21:13 GMT
We’ve been hearing for some time that Dubai rents are going to drop by about 5 per cent this year, but new data released by a property consultant on Sunday showed that a few locations have already started to see a slight decline in rates.
Global oil prices have sat above $100 a barrel for the best part of the past five years, partly due to soaring demand from China.
20:36 GMT
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.

February 25, 2015

Chief executives say they are taken aback by the scale and speed of the cutbacks
19:25 GMT
Shale oil producers are throttling back so quickly on drilling that US crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Gulf rivals.
In our view, it is intended to mean the party engaged to build the works (i.e. the constructing contractor) and not a designer or supervisor.
19:11 GMT
As Saudi Arabia has this key difference, it is important to understand the essential principles guiding construction contracts in the kingdom.
It would mean that international buyers would have access to new sellers of energy that could be purchased at competitive prices and in turn drive down the price of Saudi Arabian oil.
09:47 GMT
US politicians are pushing to lift the country’s ban on crude oil exports, a move that if successful would challenge Saudi Arabia’s long held dominance over the global oil market.
To be just Sharia-compliant is not sufficient, and the strategies need to incorporate the emotional connections with consumers.
05:51 GMT
Themed "Internationalisation Strategies for Islamic financial Institutions," the meeting was attended by senior Islamic bankers and international experts from more than 15 countries.