October 6, 2011
The market's loss can be attributed mainly to the retreat of the industrial index, which dipped by 38.6 percent during the month, said a research note published by Gulf Investment House.
Oil minister Abdullah Ghurab said there would be "a large increase in the price" after the revision which would be announced soon, the state-owned Al-Ahram newspaper reported.
Gold advanced today after opening the Asian session at $1640.87 per ounce, extending the gains recorded yesterday.
Apple co-founder Steve Jobs has died at the age of 56, the news was not unexpected. He was the man who revolutionized the world of computers and put them into the palm of your hand. The iPod, iPhone and iPad are associated with his name.
Russia and China handed Assad a diplomatic victory Tuesday by vetoing a Western-backed U.N. resolution that could have led to U.N. sanctions on Damascus, but Turkish Prime Minister Recep Tayyip Erdogan promised action of his own. “Naturally the veto … cannot prevent sanctions,” Erdogan said. “We will of necessity implement a package of sanctions.”
October 5, 2011
With declining voice revenues, telecoms are pressed to find alternate incomes to compete with international internet corporations who provide content and earn billions from online advertising, but pay nothing for the fibre optic lines on which they thrive.
The Syrian Minister of Trade and Economy, Mohamed Nidal Al-Shaar, recently announced that "in the context of preventative measures to protect Syria's national economy and local products, the cabinet issued a decree temporarily suspending imports... with a tariff greater than 5 percent.
Al Ghurair, the Chief Executive Officer of Mashreq Bank said profit growth would be lower for Mashreq and the entire banking sector in 2011, but said he expects strong profit growth in 2012, there is a strong recovery process under way.
A large part of the demand for petroleum products will be led by the Asian economies, and the proximity of the Middle East to the fast-growing emerging markets in Asia serves as a tremendous opportunity for the region’s oil and gas companies.
October 4, 2011
Virtual organisations are groups of individuals or individual companies who are connected online and collaborate for efficient business, and while they are gaining popularity in the Sultanate, the legal and financial frameworks to support them still need to be examined.
The EU will ban European firms from making new investments in Syria’s oil industry following an earlier ban on imports of Syrian oil, a key source of revenues for Assad’s government.
Jordan aims to raise its IT shares in Saudi Arabia and it has expressed its readiness and interest in increasing the share of Jordanian IT companies in its projects.
The Middle East and North Africa Digital Consumer Report shows that 66% of consumers in MENA are using the internet to look for products or items to buy prior to purchase.
Gold opened the session at $1617.90 per ounce, and then recorded a high of $1664.55 and a low of $1617.90, and is currently trading around $1653.95 per ounce.
Oil production resumed in eastern Libya in early September, and some oil has been sold onto the international spot market, although exact quantities are unclear.