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April 10, 2014

If everything goes according to plan, international oil companies can start the actual drilling at the end of 2015
07:11 GMT
International energy companies will be able to start drilling for gas off the Lebanese coast at the end of 2015 if the August auction date is met, a source familiar with the tender process said Wednesday.
“We’re now seeing a strong appetite for world class urban development in both Qatar and Saudi Arabia."
03:55 GMT
Matthew said that the respective long terms visions of the countries of the GCC can provide the building blocks for smart urban environments.

April 9, 2014

In spite of being a key provider of food, Asia has received little attention from the Gulf to date
18:23 GMT
Fearing a disruption in Ukraine’s exports, corn prices rose 20 per cent year-to-date, while wheat prices increased by 13.5 per cent.
In an apparent step to distance itself from political pressure, Turkey's central bank said on Monday that the bank will decide for itself on the timing of any future interest rate cuts.
18:04 GMT
Deputy Prime Minister Ali Babacan said on Friday that is not appropriate for political figures to say too much about the central bank.
The level of bad loans in the UAE is still low compared to other markets
06:49 GMT
Non-performing loans (NPL) in the UAE could double in the next few years on the back of growing credit demand and as banks fail to refine their debt collection strategies.
"Growth in 2014 is expected to be broadly the same as in 2013, as political uncertainty will continue to weigh on tourism and foreign direct investment," it added.
00:55 GMT
Separately, the IMF expects economic growth in Tunisia, cradle of the Arab Spring uprisings, to gather pace on the back of political and security improvements.

April 8, 2014

Distributors have to get prior approval from consumer protection body to increase prices of any product
11:55 GMT
Laws protecting Oman consumers from hikes in the price of goods or defective products are being strictly enforced in a fresh crackdown in the Sultanate, but supermarkets bosses say they are suffering.
The online application serves as a single-window, one-stop shop to view and download smart government services
10:00 GMT
The new UAE Smart Government App Store has been highly rated by users since its official launch on March 27.
There are more than 1.1 million students at public and private universities
08:37 GMT
The Council of Ministers, chaired by Crown Prince Salman, deputy premier and minister of defense, on Monday emphasized the government’s efforts to provide higher education to Saudi students all over the Kingdom.
For the third consecutive year, the United Arab Emirates has been named as the country in which most Arab youth would like to live as well as the country they would most like their own nation to emulate.
03:55 GMT
The UAE was ranked as the happiest Arab country and the 17th happiest in the world in the 2013 World Happiness Report, commissioned by the United Nations.

April 7, 2014

“Banks who develop an effective social media strategy will be the banks of the future,” Sen said. “Banks who develop an effective social media strategy will be the banks of the future,” Sen said
17:46 GMT
“Banks aren’t prepared for social media and we are scared of it because it’s very transparent,” said Sanjoy Sen, managing director, Retail Banking – Asia Pacific at ANZ.
Abu Dhabi is witnessing significant retail space development
10:55 GMT
Abu Dhabi has 778,000 sq m of new retail space in its development pipeline, placing the UAE capital among the top 20 cities globally for shopping centre development.
Rents in Dubai and Sharjah have increased by as much as 100 per cent
08:55 GMT
With rents in Dubai and Sharjah are on the upward swing, most tenants in the emirates say landlords are using Expo 2020 as an excuse for drastic rent increments.
$600 billion of the projects are in the pipeline at a relatively advanced stage
07:11 GMT
There are projects worth $2.5 trillion currently underway in Middle East and North Africa (Mena) region and projects worth $1.4 trillion of these are in the execution phase.
Al-Meaiqel pointed out that one of the obstacles facing women who want to work from home is obtaining the necessary permits and support.
03:55 GMT
Working from home has become an international trend and around 2 million people work from home in Britain, 20 million in the US, half a million in Canada, and 13.5 million in Japan.