January 8, 2013
The UAE’s industrial sector contribution to the GDP is expected to increase by three per cent this year over 2012 driven by petrochemicals, aluminium and steel products, the country’s minister of economy said on Monday.
January 7, 2013
With inflation rates expected to be lower than the average pay rise in 2013 in the MENA region expected that the expected increases will lead to a real pay growth for the working population, a sign of development in the region
More crude from state-owned top producer Rosneft kept Russian oil output the highest in the world last year, ahead of Saudi Arabia, Energy Ministry data showed.
Gulf petrochemical producers are exploring opportunities to expand capacity, diversify production and realise the region’s full potential to meet oncoming challenges and opportunities, said an expert.
Part of Bahrain's real estate sector has halved in value as a result of the unrest, said a new study, adding that only a handful of investors have gone ahead with development projects since February 2011.
Standard & Poor’s Ratings Services ranked Lebanon in the high-risk group eight in its latest Banking Industry Country Risk Assessment.
January 6, 2013
Output from the OPEC group of twelve oil-producing nations is at its lowest level for more than a year after western sanctions against Iran take hold and top producers Saudi Arabia and Iraq productions levels dip.
Gulf investment is usually focused on Europe and the US, but the slowing global economy is seeing Gulf-based investors to start in invest in Africa.
Economists have estimated the Kingdom’s revenues from Haj and Umrah services in 2012 at more than SR 62 billion ($ 16.5 billion), 10 percent up from 2011 figures.
The country’s biggest bank has urged a rethink of the Central bank’s plan to cap local and expatriate mortgages reports.
The Jordan Chamber of Commerce (JCC) on Saturday called on the government to address illegal commercial activities conducted by foreign workers in the local market.
A huge increase in GCC population to just under 55 million by 2020 will force the region to develop new and more sustainable energy sources.
January 3, 2013
Global banks are scaling back operations in the Middle East, as companies begin to question if the region is value for money as they cut bank on staff and sell-off operations.
The United Nations Development Programme is set to launch new new initiatives in Yemen, which it hopes will ease the chronic youth unemployment rate, which is currently at sixty per cent.
The pharmaceutical market of Saudi Arabia, one of the largest in the Middle East region, is forecast to expand by 4.7 per cent a year to reach $4.7 billion by 2016, a report said.