December 26, 2011
Significant new developments in the MENA region are impacting tax outcomes, compliance procedures of companies and promoting better transparency.
The construction sector is expected to see significant growth by 2012 in Bahrain, said experts.
Wind offers a solution to the growing power requirements of countries without significant oil and gas resources, and is one of the few renewable energy technologies that require very little water in order to operate, a critical consideration in the arid Middle East.
New investments into Egypt have reversed, with $65 million flowing out of the country in the first half of this year compared with a $4.2bn inflow in the same period in 2010.
Renewable energy technology safeguards environment, bolsters energy security and drives economic development globally.
“Next year, the economic growth may be the same as this year more or less, or a little less,” Minister of Energy Mohammad Bin Dha’en Al Hameli told reporters when asked about his outlook on the global oil market next year.
December 22, 2011
Iran has previously announced that it became self-sufficient in gasoline production.
The biggest increase in demand should occur in the higher-carat segment, according to the report, which was commissioned by the Antwerp World Diamond Centre. The data bodes well for Dubai's already fast-growing diamond business.
“It could be mainly political, but also economic. These are the times for high-powered coalitions and the Gulf countries are well aware of the need to get closer and work together in order to move ahead confidently in very uncertain times,” a former Bahraini editor Fareed Hassan said.
The UAE is one of Iran’s biggest trading partners and the largest source of commodities that are essential to support its economy. But Hamid Reza, Chairman of Iranian Business Council in Dubai said that the increasing isolation has been difficult.
Energy experts warned Wednesday that the mounting losses of the electricity sector would wreak havoc on the Lebanese economy if not addressed in the near term.
In the past such international sanctions did not seriously impact Iran’s trade through the UAE. But this time many banks including those from countries that have not imposed trade sanctions on Iran are shy of doing business with Iranian entities.
December 21, 2011
Cabinet must take action to fix the economic situation and ensure that widespread anger over prices, wages and benefits doesn’t spill over into explosions in the streets.
The reason for MEA's relative resilience is partly the limited expected impact on commodity prices, especially oil, which Fitch sees averaging $100/bl in 2012 compared to $110 in 2011.
The GCC supreme council has assigned the finance ministers of its members to study the statute and structures needed to create the Union fund, said the statement without giving any timeframe for Jordan and Morocco to become members.