May 31, 2012
As industry experts gathered at this year’s Arabian Hotel Investment Conference (AHIC), one message was clear: now is the right time to invest in the Gulf’s growing hotel industry in the UAE, the Kingdom of Saudi Arabia and Oman.
Banque du Liban Governor Riad Salameh said Lebanese banks will comply with Basel III recommendations three years before a 2018 deadline.
The irrefutable benefits of sustainability in the Middle East hospitality industry, has once again been bought to the fore by internationally-recognised Green Globe Certificate (GGC).
The UAE attracted US$5.5 billion (Dh20.2bn) more in foreign direct investment last year than it invested abroad, data from the Central Bank shows.
“Middle East airlines’ traffic growth has started to pick up pace again, recording a 16 percent gain in passenger demand for April, after having softened in the second half of 2011,” IATA said.
May 30, 2012
Gold continues to eye the important psychological $1 600 per ounce level with moderate to good macro buying seen on dips but physical interest still limited said MKS Capital in a briefing.
Cement companies in the Gulf witnessed a 24.3 percent increase in revenues in the first quarter, touching $1.26 billion (Dh4.62 billion) as construction picked up in certain parts of the region.
The internet economy in the G-20 is larger than the GDP of Brazil or Italy and is expected to nearly double to $4.2 trillion by 2016.
A malware superbug described as the most complex and sophisticated "cyberweapon" ever devised has attacked computers in Iran and elsewhere in the Middle East, a Russian digital-security provider says.
The Sultanate is also vulnerable to piracy due to its proximity to Gulf of Aden and therefore, the country has to look at the strategic interest of its ports and its shipping industry, its owners, operators and crew members.
Like every other sector in Lebanon, the supermarket industry is reeling under the severe economic slowdown which is mainly attributed to political instability and a deteriorating security situation in the country and neighboring Syria.
May 29, 2012
Industrial companies in Jordan have warned they risk being pushed to the wall by a rise in prices of fuel and electricity as the government seeks to stave off a fiscal crisis.
The visa can speed things up as ships use Dubai as the hub to sail to other countries in the region such as Oman, Qatar, Bahrain and Kuwait.
South Sudan's economy is suffering some shocks due to the sudden decision to shutdown oil production in response to north's decision to impose unilateral decision to hijack South's oil as a form of payment for the use of pipelines running across Sudan.
Backhanders and bribes are often used to win contracts and deals, according to a survey commissioned by the international audit firm Ernst & Young (E&Y).