Featured Articles

January 13, 2013

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.”
Is Dubai really about to become  the "Capital of Islamic Economy”?
09:02 GMT
Dubai is better known for washed up western celebs trying to fix their ailing careers than sharia compliant economics, but now the Emirate is planning on becoming the "Capital of Islamic Economy”.

January 9, 2013

OPEC members earned top dollar last year, new date from the US shows.
11:59 GMT
Members of the Organisation of Petroleum Exporting Countries' (OPEC), which Nigeria is part of, got higher income in excess of $128 billion last year, new data shows.
Oman has said it wil be strict with companies break laws on pay increases for staff
10:23 GMT
Private sector companies face penalties if they fail to give three per cent annual salary increment to employees who have not under performed, a senior official at Oman’s Ministry of Manpower has warned.
Egypt is planing new electric railway lines from Alexandria to Cairo
10:13 GMT
Egypt’s Railway Authority is set to begin development on a new electric railway system in March, extending from Alexandria to Cairo.
Bahrain is trying to woo pensioners with new discount schemes
09:23 GMT
As Bahrain upholds life sentences against activists, the government is trying to woo nearly 40,000 pensioners with a plan to offer discounted services.

January 8, 2013

The latest economic data reveals some impressive growth statistics
11:18 GMT
After announcing a record 2013 budget, the House of Saud has a bright future ahead, but lower than expected oil prices could hurt the big-dollar spending plans.
Consumer confidence hit a record low in the first half of 2012
11:18 GMT
Despite strong growth over the last years, Lebanese banks are expecting a quieter 2013 as lending rates are set to drop.
Saudi Arabia budgeted total expenditure of SR 690 billion in 2012, up 19 percent over the budgeted figure for 2011
07:41 GMT
A Kuwaiti research group has predicted that Saudi Arabia will record a budget surplus of SR 349 billion in 2013, based on its assumption of a base case oil price of $102 per barrel.