November 22, 2012
As the conflict in Syria shows no sign of ending, UAE-based Syrian businessmen are ready to invest $1 billion in the country across different sectors in the post-Al Assad era
Gulf markets steadied yesterday even as investors remained cautious amid a prolonged Israeli air raid on the Gaza Strip, while Egypt recovered after reaching a preliminary loan deal for $4.8 billion with the International Monetary Fund.
November 21, 2012
Economic growth in the Gulf Cooperation Council (GCC) will slow in 2013 owing to a moderation in oil production growth, but high oil prices will provide a supportive backdrop for another year of solid non-oil growth, rating agency Fitch said.
Saudi Arabia, the world's largest crude exporter, doubled imports of fuel oil this year and is poised to maintain them at a high level to preserve its spare capacity for producing crude, Energy Aspects said.
Oman's nominal GDP, which is measured at current market prices, grew 16.2 per cent in the first half of this year to RO15.2bn against RO13.08bn in the same period of 2011, according to new statistics.
The world of Arabian Gulf private wealth is facing increased scrutiny as global banking regulators aim their spotlights at the so-called "shadow banking" sector in an effort to stabilise the banking system.
Palestinian refugees in Lebanon are managing to find work, despite ongoing obstacles, but largely under exploitative conditions, according to a new study conducted by the International Labor Organization and released Tuesday.
Egypt and the International Monetary Fund (IMF) have agreed a $4.8 billion loan, but what is the devil is always in the detail.
November 20, 2012
Renault group is seeking to expand to regain its 'Va Va Voom' in Levant countries despite taking a severe blow in Syria where escalating violence has brought car sales to a halt since June.
Labour participation by women in Middle Eastern labor markets at 27 per cent is weak, according to Nadereh Chamlou, Senior Advisor at the office of Chief Economist Mena Region, and more must be done to encourage women to enter the job market.
Bahrain has lashed out at the International Labour Organisation (ILO) for failing to dismiss an "unjustified" complaint about the reinstatement of workers sacked during last year's unrest.
Tourism in Egypt is suffering again after violence in Gaza and the Sinai. The industry was slowly starting to recover after the revolution which saw President Mubarak ousted from power in 2011, but many fear a protracted conflict across the border will be bad for business.
Spinneys workers elected their union’s first leaders after a long and bitter struggle with management, particularly company CEO Michael Wright, who resorted to all means of pressure to undermine the union campaign.
November 19, 2012
For citizens of a country that imports 98 per cent of its energy needs, the notion of personal energy independence may seem like a far-fetched futuristic fantasy, but it might be time to consider such a move after the government cancelled fuel subsidies.
At one of Cairo's luxurious Nile side hotels, in a lavish ballroom, around a hundred Egyptian Salafists, including some of their top religious scholars, gathered to launch their Salafist movement's first business association.