October 5, 2011
With declining voice revenues, telecoms are pressed to find alternate incomes to compete with international internet corporations who provide content and earn billions from online advertising, but pay nothing for the fibre optic lines on which they thrive.
The Syrian Minister of Trade and Economy, Mohamed Nidal Al-Shaar, recently announced that "in the context of preventative measures to protect Syria's national economy and local products, the cabinet issued a decree temporarily suspending imports... with a tariff greater than 5 percent.
Al Ghurair, the Chief Executive Officer of Mashreq Bank said profit growth would be lower for Mashreq and the entire banking sector in 2011, but said he expects strong profit growth in 2012, there is a strong recovery process under way.
A large part of the demand for petroleum products will be led by the Asian economies, and the proximity of the Middle East to the fast-growing emerging markets in Asia serves as a tremendous opportunity for the region’s oil and gas companies.
October 4, 2011
Virtual organisations are groups of individuals or individual companies who are connected online and collaborate for efficient business, and while they are gaining popularity in the Sultanate, the legal and financial frameworks to support them still need to be examined.
The EU will ban European firms from making new investments in Syria’s oil industry following an earlier ban on imports of Syrian oil, a key source of revenues for Assad’s government.
Jordan aims to raise its IT shares in Saudi Arabia and it has expressed its readiness and interest in increasing the share of Jordanian IT companies in its projects.
The Middle East and North Africa Digital Consumer Report shows that 66% of consumers in MENA are using the internet to look for products or items to buy prior to purchase.
Gold opened the session at $1617.90 per ounce, and then recorded a high of $1664.55 and a low of $1617.90, and is currently trading around $1653.95 per ounce.
Oil production resumed in eastern Libya in early September, and some oil has been sold onto the international spot market, although exact quantities are unclear.
October 3, 2011
How else can one account for the Middle East insurance sector’s emergence from the recent political turbulence and fears that the world is headed for another recession with equanimity?
Marouf Al Bakheet, Jordan’s prime minister, said: “We should develop and upgrade tourism products to attract visitors from all over the world to visit the Middle East through collective programmes and in cooperation with other countries in the region."
The market is currently characterized by a balance between supply and demand, and the Saudi kingdom is ready to play its positive role for the stability of the market.
Bahrain may have to pay higher yields on the $1 billion of Islamic bonds it plans to sell next month as concern that the country's political turmoil is yet to be resolved pushes the nation's debt risk to a two-year high.
The corrections made at the DM centres at Al Tawar and Al Manara would now reflect in utility bill of complainants from the very next month, since there are two offices now catering to both North and South of Dubai, the rush is less and corrections are made faster.