Featured Articles

November 23, 2011

The global financial crisis has given the Islamic finance industry a great opportunity
08:33 GMT
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.
Escalating unrest in other Middle East nations Egypt and Syria also underpinned oil prices, analysts said
07:16 GMT
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 is expected to be completed in two years
15:50 GMT
The new cable will complement the IMEWE cable system which currently runs the 3G service and the next generation of DSL in Lebanon.
These are clearly very tough times for investment banks in the Gulf region as in the rest of the world
15:18 GMT
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.
Due to the decline in production this year, Palestinian farmers expected an increase in prices, but they were shocked by the huge quantities of smuggled olive oil from Israel
15:11 GMT
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.
Hoteliers are recognising the importance of investing in state-of-the-art technology systems
09:21 GMT
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.
As the UAE has witnessed tremendous growth and diversification in its economy, logistics in particular has had great success as one of the first industries to develop international growth
08:27 GMT
“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.
CAS insists that their calculations are scientific and transparent, adding that they constantly survey and assess the prices of the main items
07:34 GMT
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

The head of the International Energy Agency (IEA) said at the same conference on Sunday that high oil prices - which have remained above $100 a barrel for benchmark Brent crude since February - could hurt the fragile world economy
15:32 GMT
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.
"Mobile shopping is likely to play a bigger role than PC-based online shopping in future," according to the TNS report entitled Digital Life, making reference to the Africa and Middle East (AME) market
15:18 GMT
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.
There have been fears that sanctions imposed on Syria may impact Lebanon, due to the close relationship between the two countries
15:01 GMT
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.
If Arab countries decide to endorse economic sanctions against Syria, Kabariti voiced hope that Jordan will not implement such penalties
10:10 GMT
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.
UAE turnover was a little bit better, which indicates there are some buyers accumulating in select names
09:10 GMT
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.
Both the IPOs in the third quarter 2011 were in Saudi Arabia raising a total of $219 million, with Hail Cement Company raising $131 million and United Wire Factories Company raising $88 million
07:51 GMT
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

The ease-of-paying-taxes rankings are compiled through three sub-indicators: the number of tax payments, the time afforded for compliance and the total tax rate
16:00 GMT
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.