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March 4, 2015

Most of them are UAE nationals who manage a number of homegrown businesses in the country.
18:57 GMT
The richest five people in the UAE, with a combined net worth of $21.7 billion (Dh79 billion), have made it to this year’s Forbes World’s Billionaires List.
If the oil price decline persists over a longer period, analysts expect some of the GCC sovereigns that do not have adequate liquidity and or resources to cover fiscal deficits are likely to seek sukuk funding.
18:21 GMT
Fiscal deficits arising from low oil prices and funding needs for infrastructure projects are unlikely to boost sovereign sukuk issuance from the GCC region.
Apple’s iPhone 5s retained its spot of being the most popular smartphone in the UAE during the fourth quarter of 2014,
14:50 GMT
The report found that between August 1 and December 31, 61 per cent of handsets registered on the UAE’s networks were smartphones.

The exact mechanics of Saudi decision-making have always been obscure, but there is a broad understanding that the king has the final say in a process
14:12 GMT
Saudi Arabia's subtle change of energy policymaker line-up since the accession of new King Salman in late January appears to give the king's inner circle a firmer hand on the kingdom's oil strategy than previous rulers have enjoyed.

March 3, 2015

The price decline by close to 50 per cent from its level in June 2014 has not translated into greater demand growth.
14:59 GMT
Supplies are plentiful and the market may be more worried about longer term consequence
Despite the absence of recent official figures that identify the number of working children in the Kingdom, a survey on child labour conducted in 2008 put their number at 30,000, according to the Ministry of Labour.
11:03 GMT
UNHCR figures indicate that 53 per cent of Syrian refugees in Jordan are below 18 years old.

March 2, 2015

Declining currencies in European countries whose citizens are among the leading buyers of Dubai homes are combining with falling oil prices and a tax on foreign property.
21:22 GMT
Emaar Properties PJSC, the city’s largest developer, reported an 18 percent drop in revenue from property sales last year compared with 2013.
Real sector outstanding foreign debt shot up more than sixfold, from $43 billion in 2002 to $268 million in 2013
21:01 GMT
Turkey is headed toward a major economic crisis, warned former United Nations Development Programme (UNDP) Turkey Director Bartu Soral.

March 1, 2015

Some optimism remained, however, as the majority of Iraq’s producing oilfields are located in the south of the country, well away from the area of conflict.
17:30 GMT
Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report.
“We are on the verge of tremendous change, as both the amount of data available increases and methods for collection are increasingly embedded in modern life,” said Dr DiCerbo.“The key to harnessing this potential is identifying the most effective ways to capture this data and turn it into meaningful information educators can use to assist their students.”
17:10 GMT
The opportunities that online education tools provide in terms of student assessment, engagement and education outcomes was discussed at the recently concluded 2015 Global Education Forum in Dubai, UAE.
calls for the US to tamper with Open Skies agreements with the Gulf nations are at odds with the stance of other major US companies that benefit from the pacts.
12:20 GMT
A push by three US airlines to curb competition from Gulf state carriers has exposed divisions over free trade with other powerful US aviation players.
According to auditing giant Ernst & Young, from 2009 up until 2013, Islamic banking assets swelled at a rate of 17.6 per cent per annum.
08:40 GMT
In a modern financial sphere governed by the forces of innovation, diversity and progress, brokers and banking institutions can afford no room for the absence of Islamic Finance.

February 26, 2015

US shale oil output growth is not expected to start slowing before the second part of 2015.
21:46 GMT
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
The bad news, however, is that the majority of the apartments are still offering higher rents compared to 2013.
21:13 GMT
We’ve been hearing for some time that Dubai rents are going to drop by about 5 per cent this year, but new data released by a property consultant on Sunday showed that a few locations have already started to see a slight decline in rates.
Global oil prices have sat above $100 a barrel for the best part of the past five years, partly due to soaring demand from China.
20:36 GMT
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.