November 30, 2011
Brent crude stayed above $110 on Wednesday, holding onto its previous session gains, as Iran's escalating tensions with the West and an agreement by euro zone ministers to ramp up the firepower of their bailout fund helped support prices.
MEA had issued a statement warning it would freeze salaries of pilots and held them liable for damages. “All the losses incurred by the company will be compensated from the pilots’ own salaries,” a statement, issued after an “emergency meeting” of the MEA board, warned.
November 29, 2011
Qatar had the highest nominal per capita income at purchasing power parity in 2010 among the 25 rapid growth markets (RGM), followed by the UAE.
Middle East airlines recorded the strongest growth in passenger traffic at 7.7 percent in October over the same month last year, against a capacity increase of 9.5 percent.
Lebanon’s economy is expected to shrink dramatically if the government of Prime Minister Najib Mikati resigned in the coming days or weeks due to deep differences over the international tribunal funding, economists and bankers warned Monday.
Due to the announcement of the strike by the UK Border Control Authority at all airports in the United Kingdom on November 30, some of the Gulf carriers have predicted significant disruption and extensive delays for passengers at arrival and departure in and out of the United Kingdom.
Brent fell below $109 on Tuesday after posting its largest gains in a month in the previous session as investors took profits and watched keenly to see how Europe would tackle its debt crisis at a meeting later in the day.
Syrian citizens will be hurt by the sanctions as they already face oil and gas shortages and increases in prices of commodities,” Dr. Abdul Hamid Radwan said, a leading economist in the UAE Ministry of Foreign Trade. “The situation in Syria is getting very critical.
November 28, 2011
As the Bahraini government is faced with a growing shortfall of affordable housing, currently estimated at 40,000 units, it must react quickly and efficiently to meet the soaring demand.
The contribution of the private sector to the Abu Dhabi economy is far less than expected, according to a top government official.
Arab League sanctions on Syria threatens its drive to become a thoroughfare for Middle East oil and gas.
Recent events in the Middle East accentuate the strategic value UAE’s ports and logistics sector play in the global movement of goods.
The global oil market looks balanced, Saudi oil minister Ali Al Naimi indicated, while the secretary general of the Organization of the Petroleum Exporting Countries (OPEC) said some producers need to cut back as Libyan output rebounds.
Until the violence began Syria was enjoying a resurgence in its tourism industry. The effects of the sanctions could spread across the border to Lebanon and Jordan.
November 27, 2011
The plan aims at decreasing the country's dependence on oil but also includes investment on raising oil and natural gas production.