February 26, 2015
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
We’ve been hearing for some time that Dubai rents are going to drop by about 5 per cent this year, but new data released by a property consultant on Sunday showed that a few locations have already started to see a slight decline in rates.
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.
February 25, 2015
Shale oil producers are throttling back so quickly on drilling that US crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Gulf rivals.
As Saudi Arabia has this key difference, it is important to understand the essential principles guiding construction contracts in the kingdom.
US politicians are pushing to lift the country’s ban on crude oil exports, a move that if successful would challenge Saudi Arabia’s long held dominance over the global oil market.
Themed "Internationalisation Strategies for Islamic financial Institutions," the meeting was attended by senior Islamic bankers and international experts from more than 15 countries.
February 24, 2015
Eighty nine percent of respondents in the Middle East and North Africa (MENA) consider creativity and innovation to be an important part of their life
With sector sales volumes dipping, new demands are placing an extra burden on them
Desperate for a blessing? Russia to open first Islamic bank, looks to Shariah funds to offset sanctions
Russia plans to open its first Islamic bank this year, seeking to attract Shariah-complaint funds as international sanctions push the economy toward a recession.
While the current oil prices are below most GCC countries’ fiscal break-even point, governments generally have the resources to help mitigate the immediate impact and maintain a supportive operating environment for economies.
February 23, 2015
Cyprus and Greece which are struggling following economic bailouts are looking to attract investors from the UAE.
The Labor Ministry has forced the minimum wage on the private sector to make sure that Saudis will not be exploited, the same should be done for expats.
The United States and Iran are shaping the contours of a deal that would initially freeze Tehran's nuclear program but would allow it to slowly ramp up activities.
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