Featured Articles

April 2, 2012

The WTO has underlined the important role the UAE plays in global trade and in the multilateral trading system
11:41 GMT
The WTO expressed its hope for greater prosperity and success for the UAE in building a more advanced knowledge-based economy.
The experts called for drafting policies to ration energy consumption
08:21 GMT
A group of energy experts has suggested several possible solutions to help policy makers put an end to the Kingdom’s energy woes.

April 1, 2012

If oil prices were to fall and stay low, says Said Hirsh, chief economist at London-headquartered Capital Economics, the impact on spending could be severe
14:36 GMT
According to analysts at Dow Jones Saudi Arabia, the cartel’s biggest producer churned out an average of 9.8 million barrels per day (b/d) during the month.
For the first time in the 19-year history of the show, Tourism Ministers from across the Middle East will come together on April 30
09:25 GMT
The fact that leisure and business tourism is flourishing in many countries throughout the Middle East – despite the prospect of a European recession and regional political unrest –bodes well for a positive start to this year’s Arabian Travel Market industry showcase.
When the situation improves after 2012 is over, the currency could be left to depreciate by 5 or 10 percent to compensate for the increase in inflation
07:08 GMT
Since the country's uprising began in early 2011, analysts say Egypt's currency has been at risk of devaluation.

March 29, 2012

2012 continues to be a challenging year for airlines
15:12 GMT
The International Air Transport Association (IATA) has announced a downgrade to its industry outlook for 2012 primarily due to rising oil prices.
The region needs to start perceiving renewables as "complementary" as opposed to "alternative" sources of energy
14:38 GMT
The Saudi government said it would invest over $140bn over the next 20 years on nuclear and renewable-energy projects.
For manufacturers like Apple, LTE spectrum fragmentation will continue to pose a major challenge
12:50 GMT
New iPad aficionados in the Middle East will not get a refund from Apple for the gadget's lack of fourth-generation long term evolution (4G LTE) connectivity, as the US-based firm has not officially launched its latest product in the region.

March 28, 2012

Egypt's budget deficit is expected to reach LE 114 billion ($19 billion) in the fiscal year to June 30, some 8.7 percent of gross domestic product
15:26 GMT
Days into an increasingly acute fuel shortage, Egyptians are starting to feel the squeeze.
Regional heavyweight Saudi Arabia was responsible for almost half of the total surplus ($245 billion) followed by the UAE ($94 billion) and Qatar ($79 billion)
15:03 GMT
The GCC’s trade surplus will average around $493 billion in 2012-13 as the oil prices remain high, offset by import growth at around 3.5 percent, said a report.
As long as the current evaluation and granting authority is in the hands of banking institutions, loan crises will never disappear
13:17 GMT
An independent credit evaluation agency, that would evaluate any client and their assets against a loan facility, is currently not established in the UAE.
The labor law introduced two years ago includes many additional benefits for employees
12:37 GMT
Many employees are not aware of their legal labor rights.
The luxury market is still progressing in Beirut
11:24 GMT
Now, shoppers are more likely to find Chanel than a cucumber, and Prada than a potato – barring a visit to an upscale supermarket.

March 27, 2012

People are coming to do business in Abu Dhabi
17:35 GMT
Business events in Abu Dhabi are expected to have a direct economic impact of Dh5.1 billion (US$1.3bn) a year by 2020, as the sector becomes increasingly important to the emirate.
Oil balances continue to remain constructive even at current price levels with the latest demand data
17:28 GMT
The extreme weakness in European oil demand has eased as strong weather driven base effects fade away while OECD Pacific remains buoyant.