Featured Articles

May 31, 2012

The tourism sector is too important
15:00 GMT
As industry experts gathered at this year’s Arabian Hotel Investment Conference (AHIC), one message was clear: now is the right time to invest in the Gulf’s growing hotel industry in the UAE, the Kingdom of Saudi Arabia and Oman.
The implementation timetable of Basel III capital adequacy requirements in Lebanon would start on 31 December 2012
15:00 GMT
Banque du Liban Governor Riad Salameh said Lebanese banks will comply with Basel III recommendations three years before a 2018 deadline.
The number of environmentally-aware tourists are rising as more and more travellers consider their impact on the environment
14:25 GMT
The irrefutable benefits of sustainability in the Middle East hospitality industry, has once again been bought to the fore by internationally-recognised Green Globe Certificate (GGC).
The two sectors that attracted the most foreign direct investment (FDI) were oil and gas, and property
10:57 GMT
The UAE attracted US$5.5 billion (Dh20.2bn) more in foreign direct investment last year than it invested abroad, data from the Central Bank shows.
Despite continuing economic weakness in some parts of the world, demand for air travel continues to grow
10:38 GMT
“Middle East airlines’ traffic growth has started to pick up pace again, recording a 16 percent gain in passenger demand for April, after having softened in the second half of 2011,” IATA said.

May 30, 2012

Gold finds buying on dips but physical interest muted
16:00 GMT
Gold continues to eye the important psychological $1 600 per ounce level with moderate to good macro buying seen on dips but physical interest still limited said MKS Capital in a briefing.
The industry’s profits rose to $435.6 million, compared to $359.54 million in the first quarter of last year
16:00 GMT
Cement companies in the Gulf witnessed a 24.3 percent increase in revenues in the first quarter, touching $1.26 billion (Dh4.62 billion) as construction picked up in certain parts of the region.
Appropriate use of personal data can lead to new economic value
16:00 GMT
The internet economy in the G-20 is larger than the GDP of Brazil or Italy and is expected to nearly double to $4.2 trillion by 2016.
The virus could mark a new era in cyberwarfare
12:58 GMT
A malware superbug described as the most complex and sophisticated "cyberweapon" ever devised has attacked computers in Iran and elsewhere in the Middle East, a Russian digital-security provider says.
Oman can play a greater role in combating piracy
12:11 GMT
The Sultanate is also vulnerable to piracy due to its proximity to Gulf of Aden and therefore, the country has to look at the strategic interest of its ports and its shipping industry, its owners, operators and crew members.
The ongoing Syrian crisis has negatively impacted the sector
11:47 GMT
Like every other sector in Lebanon, the supermarket industry is reeling under the severe economic slowdown which is mainly attributed to political instability and a deteriorating security situation in the country and neighboring Syria.

May 29, 2012

Electricity tariffs for major mining firms, telecommunications companies, hotels and banks have also been raised
15:00 GMT
Industrial companies in Jordan have warned they risk being pushed to the wall by a rise in prices of fuel and electricity as the government seeks to stave off a fiscal crisis.
The top tourism body in Dubai expects the UAE to allow multiple entry visas for cruise tourists by September
15:00 GMT
The visa can speed things up as ships use Dubai as the hub to sail to other countries in the region such as Oman, Qatar, Bahrain and Kuwait.
The international community is perfectly comfortable with the idea of South continuing to pay half of its oil revenues to Khartoum
15:00 GMT
South Sudan's economy is suffering some shocks due to the sudden decision to shutdown oil production in response to north's decision to impose unilateral decision to hijack South's oil as a form of payment for the use of pipelines running across Sudan.
The research found that a fifth of respondents felt it was not possible to conduct business in the region without engaging in bribery or other forms of corruption
13:45 GMT
Backhanders and bribes are often used to win contracts and deals, according to a survey commissioned by the international audit firm Ernst & Young (E&Y).