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November 5, 2011

Pilgrims buy jewelry and gold with no concern about the quality. They trust the gold quality in Saudi Arabia more than the quality in their countries
05:15 GMT
The Ministry of Commerce too has noticed an increase of fraud cases against jewelry shops in the Kingdom. Some of the tricks that traders use are easily detected, while others are quite sophisticated and cannot be discovered quickly.

November 3, 2011

Online transactions in the Middle East are often for travel and hotel reservations, such tasks are usually taken care of by males due to socio-economic and cultural factors, researchers noted
15:53 GMT
One of the factors contributing to this disparity can be attributed to the higher ownership of smartphones among males versus females in the region, with these devices offering easy, anytime access to social media.
Growing per capita GDP and disposable income, expanding population base and consistent inflow of tourists will boost the region’s retail sector going forward
15:24 GMT
Retail sector sales in the Gulf states are expected to grow at a CAGR of 8.3 percent between 2010-2015, reaching $240.3 billion by the end of the forecast period, a report said.
The political environment in any country is a vital bridge between the social aspirations and reality
15:08 GMT
Millions of unemployed youths, with little hope of work, and no education, and a possible inclination to radical answers would indeed be a serious threat to any society. But millions of well-educated 20-somethings, heading for 21st century jobs in new technologies, would be a terrific asset to any Arab state.
Islamic Agricultural and Rural Finance can bring the genuine green revolution to an economy
09:12 GMT
As Islamic Finance has made a lot of progressive research in Agricultural finance bringing a number of pragmatic and useful choices which if implemented can bring revolutionary development to the economy.
The primary surplus, excluding the cost of debt servicing, up to October of this year rose by LL580 billion to reach LL2.269 billion
08:36 GMT
Lebanon’s budget deficit in the first 10 months of 2011 fell by LL858 billion ($572 million) compared to the same period of last year to reach LL1.471 trillion or 21.42 percent of total spending, the Finance Ministry said Wednesday.
Kaldany said the IFC would focus primarily on developing the gas, power generation, banking and construction materials industries, but also the agricultural and housing sectors
08:00 GMT
Rashad Kaldany, vice president of the IFC, said between $300 million and $500 million of the capital would go to projects to collect gas that is currently flared at oil fields.

November 2, 2011

The banks are the National Bank of Egypt, Banque Misr, Banque du Cairo, Commercial International Bank and the Bank of Alexandria
16:12 GMT
Moody's Investors Service in a major move has downgraded the local-currency (LC) deposit ratings of five Egyptian banks following the downgrade to B1 of the Egyptian government bond ratings.
The mining sector is booming and will become an important source of income
15:39 GMT
JEA President Abdullah Obeidat said studies indicate that Jordan's economy will become one of the leading economies in the Middle East if its mineral resources, such as oil shale, uranium, copper and gold, are wisely and soundly invested.
The UAE has a healthy economy due to its strong balance sheet and the ability to produce what others highly demand in the world
15:32 GMT
The UAE economy is resilient and still presents many investment opportunities in both the long and short term, Mohammad Al Aryan, CEO and Co-CIO of Pacific Investment Management Company (Pimco), a global investment management firm, said yesterday.
Fears associated with the global economy may affect long-term investments in agricultural research and more productive agricultural techniques
07:52 GMT
The food crisis is far from over, said World Bank Group President Robert B. Zoellick, who has urged the G-20 to put food first. Prices remain volatile and millions of people around the world are still suffering.
Lack of supply and increasing costs of animal farming have contributed to the price rise
07:18 GMT
“Although it is a religious duty, the increasing prices of the animals make it difficult to perform the sacrifice,” Samir Ahmad, an Egyptian expatriate, said.
With desert covering 92 percent of its territory, Jordan, one of the world's 10 driest countries, wants to use atomic energy to fire desalination plants in a bid to overcome its dire water shortages
06:51 GMT
Jordan, which buys 95 percent of its energy, says its 1.2 billion tonnes of phosphate reserves are estimated to contain 130,000 tonnes of uranium. It has said it would this month announce the firm it has chosen to build the kingdom's first nuclear plant.

November 1, 2011

Cairo has been in talks with Gulf states about support
16:31 GMT
Egypt is open to IMF funding but the country has not made any formal request for aid after turning down a financing package in June, the finance minister said Monday.
Countries in the region rank among the top in projected GDP growth, foreign direct investment (FDI) inflows and ease of doing business
16:04 GMT
Emphasising the strong relationship that exists between corporate governance and foreign direct investment, UAE Minister of Economy Sultan Bin Saeed Al Mansouri exhorted the regulators to ensure compliance and the business community to embrace the codes.