January 18, 2012
"The Middle East is forecast to start to recover part of its losses from 2011," the UN World Tourism Organisation UNWTO said. It is projecting flat to 5 percent tourism growth for the region.
Air traffic movement in the UAE recorded a 7.6 percent jump in 2011 over the previous year despite global challenges.
The Iranian currency has shed about 40 percent of its value against the dollar this month. The soaring costs of food, rent and utilities are constricting the average urban family's monthly income of about Dh2,000.
Opening the doors of the renowned Paris Sorbonne University in Abu Dhabi (PSUAD) to the nation’s rapidly expanding student community in October 2006, was a step towards achieving the UAE government’s vision to becoming one of the top five education destinations of the world.
January 17, 2012
Lebanon's economy ranked as the 10th most liberal in the Middle East and North Africa region (MENA) and 90th in the world, according to the 2012 Heritage Foundation Index of Economic Freedom.
Egypt saw FDI fall to $440.1 million from July-September from $1.60 billion a year earlier, helping to create a $2.36 billion deficit in the balance of payments versus a surplus of $14.7 million a year earlier, according to Reuters.
The region's advantages in solar power have long been known: its sunny climate; and the close match between peak demand (midday in summer, driven by air conditioning) and the maximum energy available from the sun.
January 16, 2012
Within weeks, the full extent of the downturn in the property market became apparent and lavish hotel projects across the emirate ground to a halt. More than three years on, some of those developments are lurching back to life, further signs of a recovery in the sector.
Residential rents in Qatar were “broadly stable” across all locations in the fourth quarter (Q4) of 2011 while the number of transactions and enquiries increased as demand picked up, according to property consultancy Asteco.
Gold entered a bear market in late 2011 which was confirmed by gold's closing below its historically significant 30 week moving average. This doesn't happen very often which indicates the technical significance of the event.
Talk of a potential merger of the UAE’s exchanges has rumbled on for years, but there is a growing feeling among analysts that action needs to be taken now in an attempt to revive the country’s lethargic capital markets scene.
Businesses are so busy rushing into virtual and cloud environments, they are missing the opportunity to build security as they adopt them, says executive chairman of RSA Security, Art Coviello.
The bulk of disputes seen early in the year centered on refunds and exchanges and behaviors by sales staff, the Department of Economic Development said, as stores clamped down on the return of products.
January 15, 2012
There are encouraging signs of the increasing utilisation of renewable energy everywhere, said Adnan Z Ameen, director general of International Renewable Energy Agency (IRENA) in his speech.
Though mergers and restructuring by some local lenders is expected to produce a leaner sector, it should also become stronger and thus better able to meet the demands of the rapidly changing financial landscape.