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The survey also revealed that the main reason for obtaining a loan is to a buy a car
08:26 GMT
About 34 per cent of national household heads reported that they continuously changed their mobile phones.

April 17, 2014

The issue of Saudi's SMEs has been debated over the last few years (File/AFP)
17:39 GMT
Small and medium enterprises (SMEs) are set to contribute 37 percent to Saudi Arabia's GDP but should the Kingdom look elsewhere for investment?
Islamic lenders Masraf al Rayan and Qatar Islamic Bank were the main reasons for the index's increase (File/AFP)
17:07 GMT
Qatar's main index rose 1.1 percent, making it the highest close since June 2008.
Hard at work: Saudi workers say they are hitting a "productivity wall" (Fayez Nureldine/AFP)
16:50 GMT
Six out of ten Saudi workers felt they didn't have the necessary tools or recourses to be productive according to a Global Workforce Survey.
The increase of house prices was a key factor (Getty/AFP)
15:28 GMT
Inflation climbed to its highest since 2010, according to data released by National Bureau of Statistics. Housing, utilities and food all contributed to the rise.
More than $40 billion worth of new contracts were awarded in the GCC during the first quarter of 2014 alone (File Archive)
07:40 GMT
2014 is promising to be a record-breaking year for the GCC's construction industry.
"Some Arab countries are still going through radical transformations, accompanied by negative economic development,” he said at the conference that discusses strategies for the advancement of Arab economies.
03:55 GMT
Arab bankers on Wednesday blamed "Arab Spring" for the deterioration in the region's economies.

April 16, 2014

If realised, this would not only revive output at Idku but also mean that Israel's first LNG exports would take place from an Egyptian plant.
23:02 GMT
"Ultimately Egypt and Turkey need energy, and the fact that we have it is creating a regional convergence of interests," an Israeli diplomatic source told Reuters.
Since the military’s return to the top political table in July 2013, it seems to have accelerated its economic activities and intensified its hold on the country.
22:45 GMT
Egypt's generals the economy to develop along lines of their choosing and have taken the opportunity not just to entrench their business activities even further, but upscale and expand them.
Within four years an estimated 65 new housing units will be built in Dubai to keep up with demand (File/AFP)
14:28 GMT
Is flat hunting in Dubai as expensive as it seems? Around 17,000 new homes are due to be built this year, with more affordable price tags attached.
Healthcare spending will increase over 16 percent in 2014 (File/AFP)
12:14 GMT
Healthcare spending reached just under $17 billion in 2013 and is expected to grow, says a new report by the U.S.-UAE Business Council.
Talks are due to take place after Egypt's upcoming elections (File/AFP)
11:41 GMT
Relations with the IMF soured when Egypt suspended negotiations over a loan worth billions in 2013, but this may improve with upcoming discussions.
However, despite the sanction relief, the country may have to deal with pressurized external and fiscal balances, double-digit inflation, and shrunk economy since 2011 amounting to USD 270 billion.
03:55 GMT
Iran’s economy could grow between 6% and 8% in an optimistic scenario, according to a global information company report.

April 15, 2014

Egypt has been experiencing power cuts since 2008 and faces bigger energy problems due to political unrest (File/AFP)
14:00 GMT
Political unrest has seen gas exports fall in Egypt while electricity consumption went up by almost a third. Will it be an expensive summer?
Dubai welcomed over 11 millions guests in 2013 (File/AFP)
10:57 GMT
Not part of the strategy: Tourism chief says hotels being built in Dubai are not specifically for the World Expo in 2020.