November 23, 2011
The obvious flaws in conventional finance have created great interest in the Islamic financial model, Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj told delegates at the opening session of the 18th World Islamic Banking Conference (WIBC) at the Gulf Hotel yesterday.
The United States, Britain and Canada on Monday announced new sanctions on Iran's energy and financial sectors, ratcheting up pressure on Tehran to stop its nuclear programme.
November 22, 2011
The new cable will complement the IMEWE cable system which currently runs the 3G service and the next generation of DSL in Lebanon.
The Dubai Financial Market dropped to a fresh seven-year low of 1,355 yesterday weighed down by the rapidly deteriorating eurozone debt crisis and further fall-out in the local financial sector.
According to a statement issued by the Palestinian Ministry of Agriculture, the Palestinian production of olive oil in the West Bank was 12,000 tonnes this year, whereas the average oil production in good years has been around 20,000 to 25,000 tonnes.
With digital technology fast becoming a part of everyday modern life, hotels in the Middle East and around the world are increasingly embracing new channels to connect with their guests.
“The transport and logistics sectors represent an important part of the UAE economy, comprising 10.4 percent of non-oil GDP,” Nabeel Ebrahim, Abu Dhabi University Chancellor, said.
According to the Central Administration of Statistics (CAS), which is under the jurisdiction of the prime minister’s office, the consumer price index between October and September 2011 went up by 0.7 percent.
November 21, 2011
Saudi Arabia, Kuwait and the United Arab Emirates have raised their production over the last few months to compensate for the loss of Libyan supplies and prevent high prices dampening economic growth after failing.
About 29 percent of internet users in the Emirates have bought goods or services using smartphones, compared with 26 percent using PCs, according to a study by the research firm TNS Global.
The Treasury and its partners in Europe and the Middle East are focusing on more than a dozen Lebanese banks that hold branches in Damascus, according to the newspaper Saturday.
The economic experts expressed hope that the Kingdom will not take part in enforcing the expected economic sanctions by the Arab League against Damascus to stop an eight-month violent crackdown on protesters.
Egypt’s benchmark index tumbled to a six-week low Sunday after renewed street violence in Cairo and in other cities, and Kuwait fell after protesters stormed its parliament.
The Gulf Cooperation Council (GCC) initial public offering (IPO) market continues to remain sluggish with only two listings in the region in the third quarter of 2011 as compared to the three in the second quarter, says PricewaterhouseCoopers (PwC).
November 20, 2011
In order to rank countries based on the aforementioned criterion, the study involves recording the taxes and mandatory contributions that a medium-size company must pay in a given year, as well as measuring the administrative burden of paying taxes and other contributions.