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February 18, 2015

 According to a recent OECD multilateral covenant, the Israel Tax Authority is entitled to receive information about foreign bank accounts that are closed and the names of the account holders.
07:49 GMT
Israelis with relatively "small" bank accounts in Switzerland are reportedly emptying them out and bringing the money to Israel in cash, usually through Ben Gurion airport.

February 17, 2015

“People were driven more by emotional investment in the past few years. They have a greater understanding of global economies and markets,” Al Gharabally said.
20:55 GMT
Despite falling oil prices, wealthy GCC investors’ appetite for global investments strategies has increased after a difficult 2013 and 2014.

February 16, 2015

“It’s fair to say that the ‘economic miracle’ seen during the 2000s has come to an end,” said Jackson.
18:47 GMT
Concerns are growing over the health of the Turkish economy, long seen as a star performer among emerging markets, partly due to unorthodox statements by President Recep Tayyip Erdogan on economic policy.
US made equipment accounts for 60% of Egypt’s current military equipment, while the remaining 40% are old Russian weapons, he added.
18:34 GMT
After increasingly strained relations with the US, Egypt is now seeking to diversify its sources of weaponry, Egyptian military experts told Daily News Egypt on Sunday.
Islamic financial companies in the Russian market are likely to make attempts to combine efforts for creation of a fund that would attract investments.
18:12 GMT
Russia is among the largest newsmakers in the world’s political and economic arena. Yet, in the world of Islamic finance, it still lags behind the rapidly developing industry.
The sub-headline of the pro-government Al-Masry Al-Youm newspaper 's lead story on 3 February proclaimed: "Egypt to confront summer blackouts with Israeli gas. "
04:26 GMT
More than four years later, Egyptian officials are negotiating a reversal of the gas deal through the very same pipeline that exported the gas to Israel.

February 15, 2015

Global oil prices rallied this week having fallen 60 percent in six months.
16:32 GMT
The United States and five of its European allies on Saturday warned that Libya could face bankruptcy if its oil output and prices on international markets continue to fall.
Opec officials have expressed cautious optimism about the price recovery and noted signs of higher demand.
09:30 GMT
The world's three big energy agencies are forecasting higher demand for Opec's crude oil this year, a sign the producing nations' strategy to let prices fall is starting to win them back market share from rivals who are cutting output.

February 12, 2015

According to the aide, the economic cluster, which regularly reports to the president emphasises on developing the agricultural sector
08:30 GMT
Concerned about the current decline in prices of crude oil in the global market, South Sudan is turning to mining sector to reduce dependency on oil resources.
Emiratis ended up working for banks, but when it comes to other industries, the rate is still low
08:17 GMT
While the private sector employment rate for Emiratis may be increasing over the years, increasing the Emirati workforce in a number of private sectors, including the insurance industry, remains a challenge.
Over 1 billion people and 20 million businesses use our cloud services in more than 76 markets worldwide
07:19 GMT
Despite a remarkable improvement in Internet connectivity, Lebanon is still in need of more broadband capacity to enable the country to become a hub for cloud computing.
The Dubai Financial Market General Index ended down 0.63 per cent lower at 3,906.60, after losing nearly 0.50 per cent in the previous session
06:29 GMT
The Dubai index fell on Wednesday, extending losses for another session from their highest level in nearly a month, weighed by weak crude oil. Saudi’s Tadawul index also fell.

February 11, 2015

Putin and Sisi made a brief statement after officials signed a memorandum of understanding to build a nuclear power plant in Dabaa on the Mediterranean coast – Egypt’s first
08:03 GMT
Russian President Vladimir Putin met his Egyptian counterpart Tuesday and agreed a deal to build a nuclear plant, as he sought to boost ties on his first visit to Cairo in a decade.
The single GCC currency can be implemented, provided the GCC countries unify their policies like the EU
07:43 GMT
Sharjah’s economy is healthy and safe and does not entirely depend on one particular sector, with no industry representing more than 20 per cent of GDP.
Energy Minister Dr Abdulhussain Mirza
07:38 GMT
Energy Minister Dr Abdulhussain Mirza has called on companies across the country to view employees and the community as essential ingredients to achieve sustainability in the business world.