May 30, 2013
ECB’s Nowotny says world economy on track for second half recovery; Says should not overestimate effect of rate cuts at low level, adding focus should be on measures to provide more liquidity
With the formal announcement yesterday of the rollout of federal credit bureau from July, bank customers are expected to have their individual credit scores based on historical data available at the earliest by the third quarter of next year.
May 29, 2013
Saudi Arabia is set for achieving substantial economic growth this year, much more than the 4.4 percent growth predicted by the International Monetary Fund, Finance Minister Ibrahim Al-Assaf said yesterday.
After almost three years of lull during the downturn, mergers and acquisitions (M&As), mainly in the mid-market segment, appear to be making a healthy comeback in the Middle East.
Participants can pat themselves on the back that they, once again, discussed many pressing, strategic and above all - long term - economic and political issues. The end result was the same: nothing was accomplished.
May 28, 2013
Resumption of services after two years will benefit passengers with connections within the GCC, Indian Subcontinent, Far East and West Asia.
The monetary conditions in the Kingdom reflects the strong performance of domestic economic activities particularly with all three measures of money supply showing strong growth rates since early 2011.
Oman Oil Refineries and Petroleum Industries Co's (Orpic) US$3.6bn Sohar Plastics project will be launched by the end of this year and completed by 2018.
May 27, 2013
Like most sectors of the Lebanese economy, the advertising industry is stagnating. Real advertising expenditures dropped 10 to 15 percent in 2012, according to a survey conducted by the International Advertising Association.
Total assets of ‘Top 100’ Saudi companies rose by 35 percent from SR 2.29 trillion in 2009 to SR 3.1 trillion in 2013, Al-Eqtisadiah business daily reported yesterday in its annual supplement on Top 100 Saudi companies.
The global oil and gas refining and marketing industry is forecast to reach an estimated $7.783 trillion in 2017 with a compound annual growth rate (CAGR) of 6.7 per cent during 2012-2017.
Kuwait also revealed plans to build a permanent floating LNG storage and regasification terminal to cope with rising demand for gas in the Organization of the Petroleum Exporting Countries (Opec) member state.
The younger generation is adopting new technologies and social media faster than ever and has provided the much needed boost to the business-to-consumer (B2C) e-commerce market in the sultanate. And daily-deal shopping websites are looking to cash in on the increase in online shopping business.
The Gulf state has one of the highest energy consumption rates per capita in the world, with the average Kuwaiti using 22 times more resources than the country provides per person.
May 26, 2013
Abdullah al Nuaimi, UAE Minister of Public Works, has called for coordinated work by member nations on the GCC rail network, and has said that upcoming meetings will discuss the project's requirements and specifications.