November 27, 2012
The ratings agency Standards and Poor have upgraded Abu Dhabi's rating, to just under the highest possible score, highlighting the stability tat the Emirate is viewed with, as the agency also announces that is believes Abu Dhabi is “among the wealthiest economies in the world”
Egypt's President Morsi had previously said that he would cancel farmers outstanding debt below LE10,000 ($1,666). However, two months later, the farmers said the debt cancellations are only being applied to non-performing – i.e. delinquent –loans.
In the latest form of human trafficking to come to light, expatriates in Oman are being smuggled by 'agents' to UAE, from where they return to their home countries by taking advantage of an amnesty scheme announced by the UAE government.
Medical tourism in Dubai is looking set to increase after an announcement that overseas patients who wish to seek treatment in Dubai will be able to avail of a three-month medical tourist visa, extendible twice — up to nine consecutive months
November 26, 2012
The Jordanian Cabinet has approved a set of recommendations that seek to achieve social and economic development in Qatraneh District, 100km south of Amman, in an effort to improve one of the Kingdom's most deprived areas.
The Gulf Cooperation Council (GCC) has said that it is in a better place for reform in the new Middle East after the 'Arab Spring'. A leading figures in the organisation says that it is time to grab the opportunity for reform , but is it all just hot air from the hot region?
Fears are growing of a a new SARs-like virus that has been found in Saudia Arabia and Qatar, with only sixth reported deaths so far. Should a pandemic occur, this could cause more than a headache for the region's businesses as staff fall ill.
For a stabile global financial system, green development and sustainable economic development is the only way forward to create a viable economy that is safe for future generations.
The Saudi government cold be sitting pretty with its latest efforts at 'Saudization', as it attempts to fulfil its promise to create more jobs for local workers and will see a huge increase in revenue from fines levied at firms employ migrant workers.
With 191 countries and the European Union as members, the Kyoto Protocol is the only global treaty with binding limits on climate-altering greenhouse gases, and there are fears that the Doha talks are the last opportunity to find a suitable replacement.
November 25, 2012
Almost a decade after the American-led invasion saw the downfall of Saddam Hussein, the Iraqi economy is slowly rebuilding, with some economists predicting that the country will be the fastest growing on earth, helped high crude oil prices.
Unemployment in Saudi Arabia has been a constant problem for several years. Now the Kingdom is attempting a process of 'Saudization', replacing expat-workers with local staff and fining companies that employ more foreign-national workers than Saudi Arabian.
Last orders has been called on an illegal bazaar in the Jebel Ali district of Dubai as authorities try to stop the sale of alcohol and illegal goods that are sold are prices designed to lure many of the underpaid workers in the city.
Measures to protect public funds and assets from misuse in Jordan are still not as effective as they should be, according to the Kingdom’s chief auditor, who called for granting the Audit Bureau wider authorities to combat corruption in government
The economic impact of the Arab Spring revolutions is a natural part of region’s course to democracy but urgent action is needed to curb unemployment and fiscal deficits, experts and officials said at an economic forum last week.