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March 17, 2015

As many as 569,128 unskilled labourers work for 3,039 companies in Dubai, according to statistics issued by the PCLA.
16:15 GMT
Smart devices will be used during inspection of workers’ accommodation which will give precise information about the number of workers housed in a particular facility.
How to win private investment confidence is rather a more ticklish problem.
11:10 GMT
In order to make such infrastructure investment really take-off then the state needs to act as a seed financer only and secure the support of private investors to multiply that investment many times.

March 16, 2015

One of the biggest buffers that the Gulf nations have from food insecurity is their oil revenue, according to some experts.
19:09 GMT
Food security has long been a burning issue in the GCC given the region’s over-dependence on food imports.
More than 14.7 million tourists visited Egypt in 2010, dropping to 9.8 million in 2011.
18:49 GMT
Egypt hopes to generate $20 billion in revenue from tourism by 2020 by attracting 20 million visitors, new tourism minister Khaled Ramy said on Sunday.
Also, Egypt's housing minister on Friday confirmed plans to build a new administrative capital east of Cairo within five to seven years at a cost of $45 billion.
18:33 GMT
Cheaper oil dragged down Gulf stock markets on Sunday, while Egypt rose after an international conference pledged tens of billions of dollars of investment for the country.
“Egypt needs at least $200-$300 billion to (develop) … I know Egypt and its problems,” Sisi said.
14:20 GMT
Difficult times still lie ahead in a country where two-fifths of the population live on or around the poverty line.
Egypt has also signed Memorandums of Understanding (MOUs) for potential deals worth $92 billion at the conference, according to Salman.
04:55 GMT
Egypt has also signed Memorandums of Understanding (MOUs) for potential deals worth $92 billion at the conference, according to Salman.

March 15, 2015

The Economic Summit in Sharm El-Sheikh has witnessed the signing of several investment agreements in some sectors amounting to $142.2bn.
19:52 GMT
The housing, transportation, petroleum, tourism, and investments sectors won the largest of this amount, but no statement has been made regarding Suez Canal Axis investments
World Bank managing director, Sri Mulyani (Photo: Al-Ahram)
04:55 GMT
"This event marks an important step for Egypt. It shows that Egypt is open for business," said the World Bank's managing director.

March 14, 2015

One of the largest disputes that have taken placed while ousted president Mohamed Morsi was still in place was between Orascom Construction Industries and the Egyptian Tax Authority.
09:54 GMT
Following the ousting of former president Hosni Mubarak, the government started targeting companies who were believed to have purchased lands with a much lower value than its market value.

March 13, 2015

The success of the conference, and Egypt’s attractiveness to investors, will depend on how far the government takes the reform agenda in the months and years to come, analysts agree.
21:39 GMT
Egypt needs $60 billion in foreign direct investment to achieve its growth target of seven percent over the next four years, Al-Araby said earlier this week.
Since the ouster of Mohamed Morsi in 2013 the UK has reiterated its commitment to support Egypt economically, but has called for political inclusiveness and respect for human rights (Source: Ahram onine).
21:12 GMT
Gulf pledges billions in aid to Egypt, world leaders back Cairo's war on terrorism.

March 12, 2015

Some analysts are confident about the economy, regardless of whether "Bibi" or "Bougie" wins.
21:13 GMT
Whoever wins Israel's election next week must answer demands for relief from soaring housing prices and a high cost of living, but the days of big state spending on social programmes are unlikely to return.
The UAE remains one of the most tax-friendly destinations in the world for both expatriates and investors alike, according to a new study.
20:28 GMT
Many countries around the world collect value-added tax from ordinary consumers when making small-value purchases or buying big ticket items.
The lira fell to as low as 2.6462 against the greenback early on Tuesday, just shy of a record low hit last Friday at 2.6475.
20:07 GMT
Turkey's lira maintained its weak position against the US dollar on Tuesday, despite efforts by the central bank to defend the currency.