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July 28, 2014

Flexible payment methods have facilitated this increase, upholds Zamzam, drawing attention to online payments and door-to-door donor collection facilities.
04:01 GMT
Egyptian charities, it seems, have not escaped the ramifications of the economic crisis triggered by the January 25 Revolution in 2011

July 27, 2014

Many Muslims are concerned that Ramadan's aim to draw worshipers away from indulging in the material world is being eroded.
20:32 GMT
Ramadan, Islam's holiest month, is a boon for retailers in the Middle East, South Asia and beyond. And while some Muslims welcome it as a positive sign, others see it as commercialization of a sacred time of year.
“There is one major resource base in the world which could meet the growth in the global oil demand, which is the Middle East,” he said.
18:24 GMT
While euphoria over the ongoing shale revolution and the energy independence of the Americas continue, yet, there are people - cautioning and asserting - the phenomenon is short-lived and the world would continue to be dependent on the Middle East.
Located in the heart of Swiss Alps, the luxurious resort of Crans-Montana enjoyed the same trend with a remarkable increase of 42.86 percent in overnights produced by travelers from the Gulf
05:31 GMT
Switzerland and its prominent resort destinations continue to witness a steadily increasing influx of GCC travelers
While such schemes are yet to become a reality, the financial consequences of not being adequately resilient are sure to see more enterprises take notice.
05:06 GMT
Despite billions of dollars spent every year, the global economy is still not sufficiently protected against the threat.
Considering its spread across the Syria-Iraq border, its grip over oilfields there and its growing economic activity, the Islamic State will “transform into an economic giant with assets of billions of dollars”, he added.
04:55 GMT
Larger shipments of crude, some of them from Najma, are also sold via smugglers to Turkish traders at vastly discounted prices of around $25 per barrel, they indicated.

July 24, 2014

A bank assistant counts through money in Lebanon (File/AFP)
13:29 GMT
U.S. legislation to increase financial sanctions on any organization funding or channeling money to Hezbollah won't have any impact on Lebanon's banking sector, according to a report. A sigh of relief?
Saudi's Tadawul is currently dominated by local retail investors, but opening up to the international market will broaden horizons (File/AFP)
13:07 GMT
Saudi Arabia's decision to open its stock market to the outside world was a good choice and already garnered strong support across the MENA region.
The overall OPEC share of total global production in 2013 averaged at 43.4 percent, slightly lower than in 2012, when it was 44.6 percent
10:22 GMT
OPEC member countries exported 4.5 mb/d of petroleum products in 2013, with the largest share devoted to Asian and Pacific countries (3.1 mb/d or 68.5 percent)
The kingdom is also expected to account for the second largest share of emerging ECM deal fees over the next 17 years (File/AFP)
08:48 GMT
Saudi Arabia will emerge as the world's seventh largest capital market by by 2030 according to a recent report.
The Dubai Real Estate market has become the focus of attention for an increasing number of investors from around the world
08:47 GMT
The launch of mega projects and renewed investor confidence have boosted real estate transactions in Dubai to Dh113 billion for the first half of the year
In the third quarter, Apple made a net profit of $7.75 billion and revenue of $37.4 billion, fuelled by healthy sales of Mac and iPhone
08:38 GMT
Consumer electronics giant Apple expects revenues to be flat in the fiscal fourth quarter ending September and predicts revenue to be between $37 billion and $40 billion.

July 23, 2014

More than 65 percent of those participating in the survey said mobile banking is an important trend for the future (File/AFP)
13:09 GMT
The UAE is now ranked as one of the top three countries in the world's online banking sector, according to a technology study. Will it be virtual banking for all in the future?
Instability and civil wars in the MENA region had a recent impart on oil supplies and demand (File/AFP)
12:12 GMT
According to a report, oil supply growth will reduce over the next 18 months. This comes with many risks. Why is the Middle East's oil industry experiencing a downfall?
The Middle East’s share of gold consumption was 6 percent last year, compared with 7.8 percent in 2010
10:36 GMT
The Middle East will take a bigger share of gold demand as buyers from Kuwait to Saudi Arabia to the United Arab Emirates diversify investments and Dubai nears offering a contract for immediate delivery bullion.