October 4, 2012
Oil prices rose on Thursday after dropping off on Wednesday. The increase has been blamed on the increased tensions in the Middle East as investors become concerned over the prospect of conflict along with the expected economic stimulus in China.
Shari'ah-compliant stocks are showing sings of continuing growth, with the Dow Jones Islamic Market Titans 100 growing 2.76 per cent in September, according to S&P Dow Jones Indices.
GCC-listed companies announced aggregate profits of $11.6 billion for the second quarter of this year, with Kuwaiti firms leading the losses.
October 3, 2012
Queen Ali International Airport (QAIA) is gaining prominence as an aviation gateway for the region in terms of passenger traffic and expansion, according to airport developers.
Bahrain is set to increase domestic food production from 20 per cent to 60 per cent in the next four years, said a senior government official, after concerns were rais over food security.
As the Gulf states advise against travel, and sporadic violence and kidnapping incidents beginning to plague Lebanon, the tourism industry is starting to struggle as staff are being laid-off and business is falling of a cliff.
In a wide ranging interview, renowned Marxist intellectual and economist Samir Amin, discuses capitalism, and its latest manifestation in Neo-Liberalism, and the potential rise of a left-wing Islamist movement.
Fears are rising over the continued viability of the Iranian economy and as the US claims success for the sanctions, seeing the Riyal lose 25% of its value in one week alone, leaving investors and citizens alike scrambling for safer currencies.
Saudi Arabia's banks are set to report higher third-quarter profit after they extended loans to real estate and petrochemical projects, and helped arrange record Islamic bond sales.
October 2, 2012
The long-running saga over the potential increase in public sector pay hit another hurdle on Monday as Lebanon’s Economic Committees handed Prime Minister Najib Mikati a copy Monday of a study that warns of negative ramifications.
Winter is rapidly approaching Jordan, leading to concerns of the availability of fuel imports, which account for 96 per cent of the Kingdoms energy as fuel subsidies are likely to hit JD1 billion by the end of the year.
The controversial smoking ban in Lebanon is slowly gaining support, as activists take to the streets to help enforce the new law.
There is no plan to establish a free trade zone between Egypt and Gaza, as Hamas has previously hoped. The agreement would have closed the tunnels linking Gaza and Egypt, but the Egyptian government are wary over its tense relations with Israel.
Profits in the airline industry unexpectedly rose, even as fears of the stability of global economy remain. The International Air Transport Association (Iata) upgraded this year's anticipated global airlines earnings to $4.1bn from its June forecast of $3bn
October 1, 2012
Childcare has come sharply in to focus in Saudi Arabia after an attack on a 4 year-old girl by her maid. Now, Saudi's burgeoning group of career women demand that daycare provision needs to be reformed.