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March 24, 2015

Top-end hotels look set to profit from this trend with over a third of MENA residents usually staying in luxury hotels when traveling for leisure.
19:44 GMT
According to the latest YouGov report, the top three luxury holiday destinations for MENA residents are UAE (14%), Italy (10%) and Turkey (5%).
 Forty-eight per cent of the family business agreed that making the business more professional is a key challenge over the next five years.
09:29 GMT
Skilled staff recruitment is a significant challenge for the Middle Eastern family businesses with 73 per cent of those saying are interested to hire the right skills and talent in the coming five years, according to a PwC survey released yesterday

March 23, 2015

The economy has been reeling since December, when production fell to around 350,000 bpd as the Fajr Libya militia alliance, which includes Islamists, attacked oil terminals in the east.
20:48 GMT
The battle for Libya's oil wealth has taken on new dimensions as rival governments lay claim to the National Oil Company (NOC), further deepening divisions in the volatile North African nation.
 In some stock markets such as Qatar, Islamic investors with few options to choose from can reward sharia-compliant firms by piling into their shares.
20:40 GMT
Across the Gulf, companies that have traditionally used conventional finance are considering whether to "go Islamic",
Dubai wants to keep adding more hotel rooms until 2020.
14:52 GMT
The popular attractions in Dubai are still attracting hundreds of visitors each month, but there aren’t as much tourists checking into hotel rooms.
Yet as competition intensifies, healthcare providers are battling to retain and even attract medical professionals needed to keep pace with their growth.
14:37 GMT
With a number of hospitals and clinics starting up in the GCC, the war for medical talent has begun.

March 22, 2015

The Bank of Israel also recently implemented measures to prevent “black money” from lying in Israeli bank accounts and causing legal and reputational risks for the Israeli banks
17:37 GMT
In Britain, the mix of politics, the upcoming elections, the budget deficit and public pressure has provoked a whirlwind of controversy around the issue of tax avoidance and tax evasion
Sohar Port is located on the fringes of a regional market flooded with container ports.
16:57 GMT
If all goes to plan, Oman will transform into a major industrial and logistics centre with much of the country’s imports and exports passing through Sohar.
He added the Ministry of Labor would not take any international decisions without the recommendations of the Cabinet of Ministers.
11:38 GMT
The private sector of Saudi Arabia and the Gulf countries signed an alliance to tackle the problems faced in the recruitment of housemaids.
 But to make this success a turning point, it must be followed by a broader, more transparent, and more detailed discussion of the coming phase.
04:55 GMT
This success places a heavy responsibility on the government, and all of Egypt, to turn the programs, agreements, and pledges made during the conference into facts on the ground.

March 19, 2015

Dubai’s index dropped 3.6 percent to a 10-week low of 3,408 points. All major stocks fell sharply and only a handful of small-caps closed higher.
12:11 GMT
Gulf stock markets fell in panic sell-offs Wednesday after U.S.crude futures dropped to a fresh six-year low and Brent oil also retreated.
The IMF has long urged GCC countries to introduce VAT. The
10:21 GMT
Given the recent negative oil price shock, GCC governments need to chalk out a plan to enhance their revenue base.

March 18, 2015

U.S. crude oil futures fell about 60 percent from a high over $107 a barrel in June to a six-year low under $43 Tuesday.
21:53 GMT
U.S. natural gas production could decline in 2016 for the first time in 10 years, driven by low oil prices after a decade of gangbusters growth from shale plays.
 Saudi Arabia’s Alwaleed Bin Talal Alsaud is the Middle East’s richest real estate tycoon, according to the 2015 Forbes Billionaires List.
14:32 GMT
Following the announcement of Forbes Billionaires List for 2015, Global property platform Lamudi takes a look at some of the top real estate tycoons in the Middle East region.
The trip can be followed on the Solar Impulse website with live video and updates.
10:01 GMT
On March 9, 2015, a plane took off from Abu Dhabi early in the morning and landed in Muscat, Oman, early in the evening.