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December 11, 2014

“A St. Kitts passport will also allow investors to travel to over 130 countries globally, including UK, Europe, Hong Kong and most Commonwealth countries.
04:55 GMT
Middle Eastern nationalities, along with the Chinese, are the top takers for St. Kitts and Nevis’ citizenship by investment program, an industry source told Gulf Business.

December 10, 2014

Qatar’s drive to promote itself as a tourism destination for Arab and Muslim families has led to the introduction of a ban on alcohol.
18:41 GMT
Kuwait and Saudi Arabia are the only Gulf countries where the sale and consumption of alcohol is totally banned.
While the six sovereign states in the GCC can withstand the pressure of oil prices averaging around Moody's estimate of $80 to $85 a barrel in 2015.
15:38 GMT
Bahrain and Oman will be more adversely affected by the lower oil prices because they have the highest fiscal break-even prices and the lowest reserve buffers in the GCC.
A common trap for consumers is size.
04:55 GMT
Buyers beware: the choices are fewer than they seem.
In addition to the inventory situation, the move in oil prices is related to developments in currency markets.
02:16 GMT
Oil prices dropped nearly 10 percent following the decision by OPEC not to cut production from current levels of about 30 million barrels per day.

December 9, 2014

Moody’s observed that Bahrain and Oman are likely to finance any increase in fiscal deficits in 2015 through sovereign debt issuance in 2015.
18:11 GMT
The introduction of new taxes — most likely indirect — will be a last resort for GCC governments, which are coming under mounting pressures consequent to plunging oil prices,
The low price scenario is the least favourable to most of the major oil producers but does not represent a catastrophe for the oil industry.
15:34 GMT
Opec, by not cutting production in an over supplied market, is trying to limit the growth of oil which is produced at a higher marginal cost.
The Ministry of Labor has said in an earlier report that there was extremely high staff turnover among women employees in the retail industry.
05:55 GMT
There were over 2,758 job opportunities offered, and only 811 vacancies were filled.
The insatiable appetite for connectivity is clear and consequently in-flight Wi-Fi is set to be one of the hottest trends for Middle East business aviation as we move into 2015,
04:55 GMT
While 9,450 new business deliveries valued at $280 billion are forecast between 2014 and 2024 around the world.
“However, declining oil prices if prolonged at these levels will reduce fiscal surpluses, affect economic confidence and moderate growth expectations
04:55 GMT
The 2015 outlook for GCC banks is stable, but it is negative for those in the rest of the MENA region, says Moody’s Investors Service.

December 8, 2014

Lebanon is located in the heart of the Levant basin, where seismic surveys indicate the presence of huge oil and gas reserves.
15:51 GMT
Parliament Speaker Nabih Berri told Al-Akhbar that he received information a few days ago confirming that Israel has started stealing Lebanese gas.
Lebanon is one of the countries in the world with banking secrecy laws, which were created to further strengthen the financial systems in the country.
15:14 GMT
There is no threat to Lebanon’s banking secrecy, despite the mounting pressure from the international community to disclose the accounts of Lebanese with dual passports.
A growing number of expatriates of all nationalities based in the UAE are moving their British pensions out of the UK.
04:55 GMT
So why are many more expats who have British pensions still in the UK looking to take their retirement funds offshore?
The paper suggests that these trends reflect the response of the Egyptian labour market to the financial crisis and the January 2011 uprising.
04:55 GMT
Resignation rates in Egypt reached their highest levels in 2011/

December 7, 2014

The Organization of Petroleum Exporting Countries, OPEC, has decided to keep their output ceiling unchanged in the face of falling oil prices.
13:20 GMT
To begin with, the Arab Spring has changed the geopolitics of oil.