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July 21, 2014

Nevertheless, Saudi continues to play the role of an emergency supplier and changes in its exports could be explained by changes in Chinese imports.
04:55 GMT
Although imports from GCC rebounded in May 2014, their pace is still below that of fuel imports, and therefore the GCC keeps losing share.
Now with crude output in the country growing rapidly and the US emerging as the world's top producer, there seems growing emphasis in Washington on controlling the newly found resource
03:10 GMT
For years, rather decades, the US has been discouraging the very concept of resource nationalism, insisting instead to let free market forces control the global energy dynamics.
In addition to six greenfield economic cities, efforts are being made to uplift cities such as Makkah toward Smart City status.
02:51 GMT
Saudi Arabia is all abuzz with excitement about ‘Smart Cities’ with social and technological factors converging to make the Kingdom ready for wide-spread Smart City developments.

July 20, 2014

The performance of the Kuwaiti economy as benchmarked by global indexes is not commensurate with its potentials.
14:10 GMT
Sadly, Kuwait is regarded as the under achiever among Gulf Cooperation Council (GCC) countries by some key business and economy indexes.
A number of cities are seeking to benefit from the internationalization of the RMB by establishing themselves as financial hubs for RMB transactions.
04:55 GMT
China is the largest source of imports into Qatar.

July 18, 2014

The report expects that if Qatar loses its hosting right of the World Cup, the infrastructure spending will lose execution focus and face potential delays.
00:18 GMT
The nominal effect of the World Cup cancellation is credit positive, as capital spending would be lower and more efficient, according to the bank.

July 17, 2014

Despite their recent upgrade to the more mainstream emerging market league, UAE and Qatar are considered risky enough by many investors that they still treat them like frontier markets.
16:33 GMT
Erratic price moves, difficulties of accessing the market, and deep political risks, alongside strong growth, are common characteristics of frontier markets
The lawmaker emphasized that Lebanon was negotiating “state to state” and not with any private companies. The Turkish Embassy declined to comment.
04:55 GMT
Lebanon is moving forward with a plan to import water from Turkey, having failed to impose any restrictions on water usage in response to one of the worst water shortages in recent memory.

July 16, 2014

EU officials and experts voiced support over the weekend for proposals to turn Cyprus into an energy hub for Europe in order to reduce the continent’s dependence on Russian gas.
23:52 GMT
Oettinger also outlined a need in Europe for liquefied natural gas, which Cyprus hopes to make part of its emerging status as an energy hub with the eventual opening of a massive LNG plant.
“Texas and California are likely the biggest losers in terms of lost employment"
16:32 GMT
The new report "Losing Billions – The Cost of Iran Sanctions to the U.S. Economy" reveals that between 1995 and 2012, the U.S. sacrificed at least $135 billion and as much as $175 billion in potential export revenue to Iran.
The overall positive market sentiment at the start of 2014 has also seen the reprisal of a number of stalled residential projects and launch of several new projects in the Northern Emirates,
15:08 GMT
Annual rates in Fujairah, Umm Al Quwain and Ras Al Khaimah remained stable with nominal increases of two and one per cent respectively.
Around 49,000 LinkedIn members moved to the UAE in 2013 indicating that the country is winning almost twice the number of professionals than it is losing, the social networking site for professionals said.
03:12 GMT
This will prove beneficial for the overall economy, creating more jobs, which in turn that will help future generations of fresh graduates to find employment.”

July 15, 2014

Having been heavily subsidised for decades, bread is a main staple of the Egyptian diet, forcing the government to import increasing amounts of wheat to meet local demands,
21:03 GMT
The government is trying to create incentives for people to consume less than their ration of bread to reduce spending on wheat.
“The state wishes to send a serious message about encouraging investment, reconciling with serious investors, and settling disputes raised with them."
15:56 GMT
Government seeking to settle some 22 investment disputes against Egypt pending before international arbitration “amicably” in order to avoid fines estimated at $20bn
Growing their business remains the primary and dominant goal for High Net Worth (HNW) business owners in the Middle East, according to a new study.
04:55 GMT
The research surveyed stakeholders in family businesses with a 2012 turnover and family net worth in excess of $100 million.