October 22, 2012
The U.A.E. central bank and the Abu Dhabi government bailed out Dubai with $20 billion of loans after the city-state that became synonymous with skyscrapers and man-made islands roiled the global financial markets in late 2009.
With a global economy that is claiming victims almost daily, Arab Bank looks impressive ass the group announced that its net profit increased by 13 per cent during the nine months period ended September 30, 2012 compared to the same period in 2011.
Performing the Hajj pilgrimage can be a costly business, but one a hugely spiritual one journey that is often once in a lifetime. Now, to make it even more special, a pilgrim can have the 'Hajj VIP' Package.
Omani citizens are saddled with more banks loans then they can afford and the increasing number of borrowers is threatening to tip the scale of economy, say financial experts.
October 21, 2012
Lebanon is facing a period of political and economic turmoil after the bombing which killed Wissam al-Hassan, leading to the Prime Minister offering his resignation, and concerns over the economy. The country is desperately trying to improve its image and is trying to gain a seat at the influential WTO table.
HSBC has announced that it is championing gender diversity in its Middle East and North Africa operations, but evidence shows that only one in five of its senior mangers are women, showing that the company still has a long way to go.
A smoking ban in Suadi Arabia is proving to be good for both peoples health, and the economy in the Kingdom, with over 3,500 restaurants and coffee shops being ordered by the Ministry of Interior to turn into smoke-free restaurants or to shut down. Although some business owners remain concerned.
Preparations are under way to roll out the next phase of Dubai’s major transport infrastructure initiative focusing on building roads for key residential areas, a senior official has said.
As Israel stops another pro-Palestinian ship carrying humanitarian cargo for Gaza on Saturday, Qatari and Palestinian officials said that their Gulf state will start to channel goods and materials to rebuild Israeli-blockaded Gaza via neighboring Egypt.
The deadly explosion in Beirut's Ashrafieh neighborhood will likely deal a crippling blow to the already struggling Lebanese economy, experts have said.
October 18, 2012
Inbound tourism over last 4 months increases year-on-year despite ongoing political uncertainty and election of Egypt's first Islamist president.
Jordan's energy market needs investment, as the economy is buffeted by regional and international troubles
Achieving self-sufficiency in Jordan requires the removal of distortions in the energy market and investing nearly $25 billion in the coming years, as the economy struggles against regional and international pressure, according to Jordan Economic Social Council President.
The Gulf petrochemicals industry continues to be the largest producer and exporter in the world accounting for 11 per cent of the $600 billion global petrochemical industry, which is set to grow in the region.
A wealthy Qatari man paid more than a quarter million dollars to buy six unique banknotes of his country on a public auction in London.
The world's largest wheat importer aims to build new silos over next 3-4 years along with potentially controversial moves to reform bread subsidies, as the Egypt plans a crackdown smuggling and illegal trade.