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January 15, 2013

IT spending remains vibrant, with the market expected to register around 13 per cent growth to $7.3 billion in 2013 compared to $6.5 billion last year
09:51 GMT
The UAE’s information technology market set for another strong year as economic growth heads northwards and consumer confidence gains momentum, with expectations of 13 per cent growth this year.

January 14, 2013

Operating profits declined recently from between $90 to $100 million to less than $40 million
07:57 GMT
The boss of Lebanon's flag carrying airline, Mohammed Hout, expressed fears that 2013 could be a tough year for MEA as the Syrian conflict grinds on, in addition to a host of internal Lebanese problem.
Telecoms was the most targeted industry in the Middle East with 30 percent of the activity during the year, followed closely by financials with 27 percent
07:52 GMT
Equity capital markets issuance reached $9.4 billion last year while total debt issuance reached $38.6 billion in 2012, a 26 percent increase over 2011.
The Executive Council endorsed a new payment of housing loans totaling Dh3 billion that will be distributed to 1500 people from the three areas of Abu Dhabi Emirate
07:42 GMT
The Abu Dhabi government will invest Dh330 billion to help fund capital projects during the next five years and create 5,000 new job opportunities this year for Emiratis in various sectors in order to upgrade public performance.

January 13, 2013

Handling fees at the container terminal would increase by 12 percent, following a deal between the Transportation Ministry and the Association of Shipping Agents
11:16 GMT
For the second year in a row, the Port of Beirut is witnessing a phase of rapid growth and expansion in spite of economic slowdown, as the conflict in Syria sees shipping routes redirected.
The kingdom now appears content to live with prices around $110
11:04 GMT
Despite previous insistence that oil should be at $100 a barrel, it now looks like Saudi Arabia is hoping for an extra ten dollars on a barrel, owing to changes in production levels in the Kingdom.
Statistics Centre - Abu Dhabi reported an overall rise of 11 percent in consumer prices during 2012
11:04 GMT
Inflation in Abu Dhabi remained low in 2012, with the CPI rate recording a 1.1 per cent increase, easing on the figures from 2011.
In total, 35 buildings taller than 200 meters were completed in Asia in 2012 and 16 in the Middle East
08:29 GMT
A fifth of the world’s tallest 100 towers are currently located in Dubai, according to a latest report issued by the Council on Tall Buildings and Urban Habitat (CTBUH).
The UAE is the second largest economy in the GCC, accounting for 23 percent of GDP
08:25 GMT
Real GDP growth in the GCC is likely to have slowed from 7.8 percent in 2011 to an estimated 5.7 percent in 2012.
A total of $250 billion is expected to be pumped into the power sector in the MENA region
08:19 GMT
The Middle East and North African (MENA) countries are expected to pump nearly $250 billion into power projects over the next five years to expand generation capacity and meet the growing domestic demand.

January 10, 2013

Spinneys has sacked its CEO over claims he was damaging the brands reputation
12:58 GMT
The boss of Middle East retail stalwart Spinneys has been removed from his position after claims he was damaging the reputation of the business.
Egypt is set to sign a $4.8 bilion IMF loan before upcoming elections
12:15 GMT
Egypt will sign a long-awaited financing deal with the International Monetary Fund (IMF) before upcoming parliamentary elections, hinting that elements of the government’s economic program could be subject to change in a revision
Could Dubai hold the 2024 summer Olympics?
11:46 GMT
An overwhelming majority of residents in the region support the idea of Dubai hosting the 2024 Summer Olympics, according to a study.
Lebanon has been crippled by winter storms as the government approves a new financial aid to those affected
09:58 GMT
As Lebanon braced for another day of extreme weather, Public Works and Transport Minister Ghazi Aridi has approved more emergency funding to help those affected.
Qatar has rejected claims that it is trying to influence Egyptian politics and economics
09:17 GMT
Qatar’s prime minister has dismissed claims that his country was seeking to dominate Egypt’s politics and economy as “silly jokes.”