Featured Articles

August 29, 2012

The clear message from Samsung is that a strict internal firewall between its handset business and its components operations remains intact
11:48 GMT
While Samsung Electronics is reeling from a patent pounding by its smartphone rival Apple, this is unlikely to damage the other part of their relationship - where Samsung is the sole supplier of Apple-designed chips that power the iPhone and iPad.

August 28, 2012

The unusual tactic was begun in early April and affects a quarter of Iran’s tanker fleet
14:50 GMT
Iran, the sanction-hit nation, has been routinely switching off satellite tracking systems on its sea-bound oil tankers for more than a month, in what US officials and industry analysts describe as a cat-and-mouse game with Western governments.
The size of trade exchange between Egypt and Russia in 2011 reached $2.3 billion
14:40 GMT
Egypt seeks to sign a free trade agreement with Russia and increase its exports to the country that has recently become the 156th member of the World Trade Organisation (WTO).
Saudi Aramco did not discuss or give any clues as to how the virus got into the system
14:18 GMT
Saudi Aramco is back on line and operational. This past Sunday, Saudi Aramco announced that all workstations had removed the virus and everything was back to normal.

August 27, 2012

A chief concern is the decline in central bank reserves which have plunged from $36 billion at the start of January 2011 to $14.4 billion
12:41 GMT
IMF approval of Egypt's request for nearly $5 billion in aid would come as a vital boon to its reeling economy but President Mohamed Morsi must at the same time enact tough reforms, analysts say.
With energy becoming ever more expensive, there is huge interest in the cost-reduction potential afforded by new technology
11:02 GMT
Now, the GCC is looking to continue its efforts by spending some $252 billion over the next five years to increase energy production.
The holding of twin technology events – GITEX and Computer Shopper – in October 2012 is expected to further push up that demand
10:10 GMT
The sudden increase in the number of digital media companies offering social media, internet marketing and cloud computing solutions in the GCC is creating an unprecedented demand for highly specialised IT professionals.

August 26, 2012

A market economy depends on allowing the market to function. If it is not allowed to work then all sorts of things go wrong
14:32 GMT
With the financial world on the edge of its seat waiting to hear the words of Fed chairman Ben Bernanke from Jackson Hole this coming Friday this is not the time to be buying equities. It would be pure speculation and not an investment.
The report pointed out that the Lebanese economy witnessed a decline in its overall activities
14:31 GMT
The report noted that the Lebanese economy recorded a slowdown in its general activity in the first half of 2012, as compared to the same period of the last year.
Egypt’s new Prime Minister Hesham Qandil summed the new mood when he described the visit of the IMF chief Christine Lagarde as sending a positive message that Egypt is stabilizing
14:30 GMT
In less than two months after assuming office, Egypt’s President Muhammad Mursi decided to face up to the country’s mounting economic problems head on by first placing a request for a loan from the International Monetary Fund (IMF).

August 23, 2012

The natural buyers of today are emerging-market central banks, and over and above that, it's going to be further investment demand
18:30 GMT
Gold will extend a bull run as emerging-market central banks and investors accumulate the metal to protect against weakening currencies.
As far as 2012 is concerned, the outlook is positive across the MENA region with the respondents consistently believing that their personal financial situation will take a turn for the better
12:19 GMT
Majority of the residents in MENA region have either maintained or improved upon their financial status in the past 12 months, with more positive sentiments for the year to come, according to a survey.
Experts say it will take a minimum of five years until companies start extracting gas and oil off the Lebanese coast if everything goes according to plan
12:05 GMT
Explorers will very likely find substantial quantities of natural gas and possibly oil off the Lebanese coast, according to a top executive at a Norwegian company carrying out the first 3-D seismic survey of Lebanon's offshore deposits.

August 22, 2012

In terms of employment, almost half of the respondents (49%) claim that there are ‘very few jobs available’
13:56 GMT
In Kuwait, respondents forecast a better financial climate and economy, with improved business conditions and more jobs available.
Oman also has much smaller oil and gas reserves than the other five GCC member states
13:33 GMT
Moody's Investors Service says Oman's A1 foreign and local currency government bond ratings and stable outlook balances its considerable financial strength against long-term structural economic challenges.