October 17, 2012
The Turkish economy is starting to struggle, being beset by weak growth and high spending as the country, among the fastest growing in 2012, is looking set to record a budget deficit of $18.4 billion.
Members of Parliament in the United Arab Emirates have said that low standards of living were driving people onto the streets to commit acts of violence. They said extremists were exploiting youths from poor families and have called on the government to take action.
Siemens Energy Service has signed long-term service contracts with Dubai Electricity and Water Authority’s (Dewa) for its newest power station in operation, the Jebel Ali M-Station, in a deal worth $450 million.
Initiatives in renewable energy in developing countries will inspire the world to adopt clean energy to address energy poverty and climate change caused by pollution, as countries in the MENA region slowly move to less oil-dependent energy sources.
Small and Medium sized Enterprises in the United Arab Emirates have a "substandard" presence on the internet, according to a new survey by 'Local Media' an online directories company based in Dubai, claims The National.
Apple's new iPhone 5 is selling well in Gaza, despite prices well above $1,000, double the price in the US and is getting to the Palestinian enclave via smuggling tunnels even before neighboring Israel received official deliveries of the gadget.
October 16, 2012
Saudi Arabia has announced further rounds of 'Saudization', or Nitaqat, in an effort to increase employment in the Kingdom, as concerns are voiced by the government that too many jobs go to foreigners.
Scottish exports to the Middle East, driven primarily by the food and drink, energy, business and financial services and the metal goods sectors, currently stand at $1.59 billion, with food and drink alone, growing by 28 per cent last year.
Saudi Arabia has reacted angrily over an inquiry by Britain's Parliament’s Foreign Affairs Committee (FAC) which will review UK’s relations with Saudi Arabia and Bahrain. Trade between the UK and Saudi is more £4 billion, and the two countries have huge defence deals.
As the security situation in Bahrain remains fragile, with protests continuing and activists being arrested for taking part in pro-democracy demonstrations, the kingdom's tourism expert, Jamil Wafa, says that stability is the key to boosting tourism.
The increasingly vocal President of Lebanon, Michel Sleiman, said on Monday that Lebanon should step up agricultural development to raise the important sector’s share in gross domestic product, boost employment and improve food security.
Despite having planning railway projects worth an estimated Dh700 billion (US$190 billion) in the MENA region, only Dh66.3 billion ($18 billion) has so far been invested, as countries look for alternative modes of surface transport for the public and freight.
October 15, 2012
The world might not have a magical solution to shore up ailing economies, but an international private-public coalition says it is developing a comprehensive digital platform that could kick-start an unprecedented upturn in trade and growth.
A strike at the Egyptian port of Ain Sokhna, has ceased operations forcing ships to delivery their cargo via Israeli dockyards, adding pressure to the Egyptian economy.
The automotive industry in Saudi Arabia is in the fast lane as sales look set to hit $6.9 billion and the Kingdom is becoming one of the biggest car markets in the world.