“Remittances of Lebanese expatriates increased from $7.86 billion in 2013 to $8.9 billion in 2014.”
April 21, 2015 - 14:50 GMT
Lebanon registered the second-highest growth among the 15 largest recipients of remittances in developing economies last year.
The move also comes as Saudi is preparing to open its stock market to foreign investors by June (image: on file).
April 21, 2015 - 14:44 GMT
British lender HSBC has been banned from taking on new funds in its asset management business in Saudi Arabia by financial regulator Capital Markets Authority (CMA).
Shaikh Hamdan Bin Mohammad said that Islamic economy is witnessing accelerated growth across all sectors (image: on file).
April 21, 2015 - 08:18 GMT
The initiatives include the launch of the second Islamic Economy Index, the third edition of the Islamic Economy Award, the second Global Islamic Economy Summit.
As of the first three months of the year, businesses such as Saudi Aramco are still recruiting expatriates
April 21, 2015 - 07:58 GMT
Recruitment of new employees for oil and gas companies outside the Gulf region has slowed down, but businesses in the UAE and the rest of the Middle East continue to push forward with hiring.
US undersecretary of commerce for international trade says a lot of work to be done before reaching a final agreement with Iran
April 20, 2015 - 18:32 GMT
A lot of international companies are knocking the doors of Iran for investment especially in the energy sector, Iranian officials recently said.
The government is currently negotiating a $500 million loan from the World Bank to build affordable housing (image: on file).
April 20, 2015 - 18:27 GMT
The Arab country’s economy is recovering from four years of political upheaval.
SABIC plans to cut costs and is well positioned to deliver sustainable growth.
April 20, 2015 - 17:36 GMT
SABIC reported a 39 percent decline in first-quarter profit to SR3.93 billion ($1.05 billion) as average sales prices dropped following a slump in global crude prices.
Kampac said the project is likely to take up to 15 years for completion, with the first phase expected to be ready as early as 2018.
April 20, 2015 - 06:55 GMT
Kampac Oil, a Dubai-based oil and gas company, plans to double its investments in the Philippines to more than $10 billion.
The initial subscribed capital of AIIB will be $50 billion and is planned to be increased to $100 billion (image: on file).
April 20, 2015 - 05:55 GMT
Jordan and 56 other countries will be founding members of the China-led Asian Infrastructure Investment Bank (AIIB),
A power station will come up on a sprawling 50,000 sq m land at Dagharah area, while another one will be built on a 50,000 to 60,000 sq m site at Al-Suniyah area (image: on file).
April 20, 2015 - 05:55 GMT
Iraq's electricity ministry has invited expressions of interest from major companies for the construction of three solar power stations and a wind power plant.
The Council will take its decision after examining the report of the finance committee (image: on file).
April 19, 2015 - 21:19 GMT
The Shoura Council on Monday will vote on a proposal to convert the proposed sports stadiums into fully fledged sports villages.