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December 13, 2011

According to David Macadam, head of Jones Lang LaSalle’s retail team in the region, “Retailers across the spectrum are looking to enter this market to cater to a growing domestic demand, driven by its sizeable young population.”
08:42 GMT
The commercial licensing regime in Saudi Arabia has traditionally reserved retailing and distribution activities for locally-owned companies,” says a new report from Jones Lang LaSalle, the real estate consultancy.
The findings points out that financial losses were reported in millions, majority of establishments had spent less than $50,000 on response plans during the year
08:06 GMT
More than a third of the surveyed entities reported that the financial crisis had directly resulted in an increase in the likelihood of fraud.

December 12, 2011

“GCC countries have based their business model of attracting foreign firms by setting up a tax free, or quasi tax-free environment
17:45 GMT
The UAE has no formal system of VAT or corporate income tax but the report incorporated various different fees, charges and forms of taxation in its findings.
The total number of passengers in November rose by 0.31 percent with a 0.08 percent increase in incoming passengers but a 0.05 percent decrease in departing passengers compared to November 2010, the report said
17:19 GMT
The statistics showed a rise in the number of passengers year over year by 1.54 percent with 5,208,179 passengers, including 746,470 in November 2011.
Independent analysts said in countries such as Egypt and Lebanon, the banking sector could face negative rating action
17:12 GMT
Global credit rating agency Standard & Poor’s is reviewing the ratings of 50 banks in the Middle East based on a new set of rating criteria adopted by the agency recently.
"Islamic banks will have to consolidate or otherwise or substantially increase their capital structures to enhance their ability to provide project finance on the scale required," Al-Belooshi told a banking seminar in Bahrain
12:37 GMT
Naser Mohammed al-Belooshi, Executive Director of management services at the Bahrain Monetary Agency, the Gulf Arab state's central bank -said capital limitations would continue to seriously compromise the ability of Islamic banks to finance major international projects.
In fact, the term "innovation" has become a buzzword of the 21st century as countries and businesses grapple with a volatile global economy, financial crises of unprecedented proportions and a desire to create the next era of opportunity for future generations
12:10 GMT
Innovation is the cornerstone of economic growth and success, for both the companies that innovate and the countries that embrace them.
Egypt negotiated the loan with the IMF this year but turned it down in the summer and has since sent mixed signals over whether it will take it
10:55 GMT
The prime minister told Egyptians yesterday that the economic situation was worse than imagined and that austerity was needed to rein in the budget deficit.

December 11, 2011

Rich nations believe paying developing countries to stop the destruction of rainforests is an effective way to fight climate change
17:41 GMT
The felling of trees that capture the heat-trapping gases responsible for global warming accounts for about 20 percent of the planet's greenhouse gas emissions, and studies show an acre (0.4 hectare) of forest is lost every second around the globe.
Daily-deal sites offer discounts with local businesses such as restaurants, spas and shops, often with a minimum quota of people required to sign up to make the deal active
17:31 GMT
Daily-deal websites are turning to mobile commerce amid rising use of smartphones and fierce competition in the Middle East.
 Peer-to-peer communication opens the door to close collaboration and partnership opportunities, which in turn leads to a robust ecosystem for innovation
17:17 GMT
“Innovation goes hand in hand with entrepreneurship. It means seizing new opportunities. It means harnessing solutions that can address the pressing global energy and climate issues that we face today.
It is clear that KSA’s plans for spending its sovereign wealth fund will be mostly focused on the home front
10:32 GMT
Earlier the Saudi government announced the development of a nuclear city to train and house the technical workforce that will be needed to achieve these ambitions.
High prices of retail goods have long been a complaint among Dubai expatriates
08:36 GMT
The soaring cost of key commodities in Dubai is forcing shoppers away as majority of expats say that the prices here now equal to the prices in their home countries.
The region had an estimated 52 million students in 2009, which implies an average annual spend per student to about $1,450
07:04 GMT
The education market in the Middle East and North Africa (MENA) could be as high as $75.3 billion (Dh376 billion), Al Masah Capital said in its latest report.

December 8, 2011

Weakening middle distillates and fuel oil cracks, and a still soft naphtha market in Asia could see premiums for February cargoes narrowing, traders said
17:54 GMT
The Middle East crude market fell on Thursday, with offers for February loading Murban heard at a premium of around 10 cents a barrel to the official selling price (OSP), lower than levels seen last month.