December 29, 2011
The third quarter achieved a higher growth rate than the first and second quarters when the economy expanded by 2.2 percent and 2.4 percent respectively.
The year 2011, unlike any year in the past decade, has put the country’s resilient banking sector under pressure on three fronts simultaneously.
Despite International Monetary Fund (IMF) predictions that Yemen's economy would contract by 2.5 percent this year, there was no mention of economic reforms in the draft document, a point that was noted by several members of parliament present.
December 28, 2011
Brent prices up 5 percent in less than two week. Brent crude oil steadied above $109 a barrel on Wednesday after rallying for six straight sessions, supported by Iran's threat to halt oil shipments through the Strait of Hormuz.
The members’ violations include “abuse of public office” after they reportedly signed a council decision that labels a casino as a legitimate tourism business in accordance with the Tourism Law, according to a Prime Ministry statement.
Saudi Arabia's strong economic growth this year was a positive surprise, Finance Minister Ibrahim Alassaf said, adding that the government's plans to build hundreds of thousands of homes aimed to limit future inflationary pressures.
In a report released yesterday, Towers Watson research suggests that the salaries in the UAE will “rise by a further 5.7 percent in 2012” following “an average of 5.5 percent rise across all industries in...2011.
Global stock markets look set to recoup only a fraction of the heavy losses sustained this year, oil prices will head south and asset managers are unsure where best to invest, the analysts said. These could even be the best-case scenarios.
International banks have laid off hundreds of thousands of employees globally, leaving the UAE less of a priority.
December 27, 2011
Early indicators of tourist numbers for this month were strong, said Eyad Ali Abdul Rahman, the executive director for business development and media relations at the Dubai Department of Tourism and Commerce Marketing.
Banks are the driving engine of every national economy and citizens' welfare is the utmost goal of any economic policy, a top businessman said yesterday.
Libyans understand that the NTC needs time to build a new country on the ruins of the one Moammar Gadhafi destroyed. That daunting task begins by developing the state institutions required to respond to Libyans’ needs.
For the business to bounce back, the industry will need to recognise the basic changes in the market, analysts point out.
What we may be seeing is the birth of a new global rhetoric born in the West Asia North Africa region. This rhetoric essentially argues that human beings are “too big to fail.”
December 26, 2011
Significant new developments in the MENA region are impacting tax outcomes, compliance procedures of companies and promoting better transparency.