Featured Articles

July 1, 2014

The advertisement targets Saudi investors and invites them to apply for Canadian and Greek citizenship through an investment program.
14:11 GMT
A Canadian immigration company has, in violation of Saudi citizenship laws, posted an advertisement on the newspapers encouraging Saudi citizens to apply for Greek and Canadian citizenship, Makkah daily reported.
Saudis and expats have welcomed the move to close retail shops at 9 p.m., saying it would have a positive impact on social life and productivity.
11:46 GMT
The higher committee for regulating the working hours of retail shops has completed a draft law that will force all shops and sales outlets across the Kingdom to work anywhere between 6 a.m. and 9 p.m.
Change requires a figurehead or a face of the change, one that represents hope in a ‘better’ future.
04:55 GMT
Regardless of what the real business issue was behind the scenes of Arabtec, confusion reigned publicly, and undoubtedly privately also, resulting in an unhealthy knee-jerk reaction in the market.

June 30, 2014

The Saudi banking system capitalized on reforms implemented during the financial crisis and posted record profits in 2013.
16:09 GMT
Evidently, the extended maturity will provide a pricing benchmark for longer-tenor sukuk and energize an alternative venue for financing infrastructure projects.
“All non-productive expenses have been trimmed down,” Alkaffas said, but declined to go into details pointing to a statement due to be issued later.
13:36 GMT
Boosted by aid worth billions of dollars from Gulf Arab countries after Sisi deposed Islamist president Mohamed Morsi last July, Egypt’s 2013/14 budget deficit was set to shrink to around 11 per cent of GDP from some 14 per cent the year before.
An increase of approximately EGP 10bn ($1.4 billion) for fuel subsidies will be stipulated in the budget for the 2014/2015 fiscal year to offset the increase in global prices of oil, according to a senior petroleum ministry official.
04:55 GMT
The escalation of violence in Iraq threatens investments in one of the world’s most important oil reserves, as Iraq was expected to become the world’s largest oil exporte

June 29, 2014

Since the 70’s, crude oil is not allowed to be shipped outside the country, but that is about to change.
20:13 GMT
Whether the decision allowing the export of ultralight, condensate, marks the beginning of the end of the ban on American crude oil exports or not is being debated ferociously within the energy fraternity.
Quantitative easing on an extraordinary scale — as perpetuated in the US, Japan and potentially now Europe — has distorted not only the entire global economy through rock-bottom interest rates but also investment and its returns.
14:09 GMT
In the Gulf, there is a hybrid case in the operations of sovereign wealth funds, which plainly are governmental, but are viewing the international markets with this same awareness and considerable dependency.
In addition to the initiative, the GCC is also ramping up its port facilities to attract global cruise liners.
04:55 GMT
With such massive untapped potential, the Gulf’s Arab countries are now joining hands to promote the region as a winter cruise destination
Credit Card issuance is easy, but it has certain requirements and limitations that should be clear to the customer.
04:55 GMT
The level of credit card penetration in Egypt remains low despite its worldwide presence.
The current conflict could easily lead to the disintegration of the country and deepen the gaps among its communities.
01:18 GMT
With an economy worth $210 billion – the country is being torn apart before their very eyes, while its wealth is being set on fire.

June 26, 2014

White-washed Algiers, with sweeping views over a glittering Mediterranean bay, has long neglected its greatest natural asset but a major project is restoring the city’s seaside splendor.
23:35 GMT
The urban development plan, requested by President Abdelaziz Bouteflika, aims to transform several kilometers of coastline that years of industrial development have prevented residents from appreciating.
The objective of rent-to-own schemes will inspire confidence and reduce the risk element in buy.
23:11 GMT
Exponential value growth has made buying a property a near difficult proposition for the majority of end-users.
FDI flows to developing economies reached a new high of $778 billion, accounting for 54 percent of global inflows in 2013
14:58 GMT
FDI flows to transition economies recorded a 28 percent increase, to $108 billion. But FDI flows to Kuwait are estimated to have decreased by 41 percent in 2013.
The curse theorists argue that such projects are typically the result of a combination of one-upmanship and the availability of easy money, which indicates a systemic problem
12:23 GMT
Proponents of the curse believe that each time someone somewhere builds a tower taller than the existing tallest, it is an omen pointing to an impending crisis.