October 23, 2012
The number of start-ups in the MENA region increased eight times in 2011 as compared to 2005. Jordan, Lebanon, Egypt and the UAE attracted most early stage investments in the same period, in some positive news for the economies of the region.
The Middle East and North Africa (Mena) region is currently one of the world's fastest growing markets for rail with over $156 billion worth projects planned or under way in the region.
Lebanon’s economy will end 2012 on a negative note as political and security instability drags on with medium- and long-term economic indicators showing continuing signs of mediocrity.
The UAE has opened the first World Energy Forum outside the United Nations headquarters in Dubai on Monday, the forum’s official website reported.
October 22, 2012
Saudi Arabia's economy is forecast to surge by around 3.8 percent on current prices, to hit an all time high in 2012 amid swelling oil prices underpinned by robust public and private sectors, as oil prices creep up globally.
Brotherhood number two and Mubarak-era minister arrange for final installments of Qatari loan to be paid by end of year in order to stave off decline of Egyptian pound.
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.