Main headlines

June 15, 2014

Private wealth in the Middle East and Africa soared 11.6 per cent reaching $5.2 trillion in 2013 according to a new report.
03:55 GMT

Key drivers for this increase included continued strong nominal GDP growth in oil rich Gulf countries.

June 12, 2014

He also explained that the ministry's "Ajeer" system is linked to recruitment companies and will allow the ministry to monitor the recruitment deals between the companies and their clients.
15:42 GMT

The Ministry of Labor is planning to unify the wages of domestic workers hired on a temporary basis,

The King launched the project in the presence of Her Majesty Queen Rania and HRH Crown Prince Hussein as well as high-ranking officials, officers and local and international businesspeople.
11:47 GMT

His Majesty King Abdullah on Wednesday launched Abdali Boulevard, a JD300 million project, which is part of the $5 billion Abdali project, the largest mixed-use urban development scheme in Amman.

IALI has always worked in close partnership with the International Labor Office and other host country organizations, and is increasingly working at regional levels.
10:01 GMT

The International Association of Labor Inspection (IALI) is the global professional association for labor inspection.

The Abu Dhabi carrier, which began operations to Los Angeles earlier this week is in the final stage of negotiations with the Italian carrier.
09:39 GMT

It is believed to be the first time the size of the stake has been stated publicly.

Egypt’s economic position was negatively affected by a decline in foreign direct investments (FDI) and tourism arrivals.
08:35 GMT

“We believe Egypt will likely enter into a standby agreement with the IMF [International Monetary Fund] soon,” the study said.

June 11, 2014

Dubai stocks have indeed become some of the most highly valued equities in the world, but  correction from these heights is only to be expected.
14:08 GMT

The main index of the Dubai Financial Market fell by four per cent yesterday after weekend warnings from the UAE Central Bank that the local property market was overheating

Emirates was among the first buyers for the A350 rival model to Boeing’s 787 Dreamliner when it placed the order for 50 A350-900 and 20 A350-1000 jets in 2007.
12:45 GMT

The deal was worth around $16b at 2007 list prices, or close to $22b based on the current catalogue

The US had set a deadline of July 1 before American banks were to be required to withhold some payments to the financial institutions of countries without a Fatca agreement.
12:33 GMT

The UAE has reached an initial agreement with the US to carry out a financial data-sharing programme aimed at curbing offshore tax evasion by US citizens.

The expansion in GDP was 4 percent for the entire 2013.
12:21 GMT

A fast growth in exports accompanied by a solid domestic and an increase in public investments were the main drivers.

Local authorities in Indonesia, Laos, Philippines and Vietnam announced over 1.6 billion dollars’ worth of investment projects, according to a conference press release.
04:55 GMT

Saudi Arabia’s Saline Water Conversion Corporation announced plans for what would be the world’s largest desalination plant using a technique called reverse osmosis.

Iran plans to boost annual petrochemical output to 180 million tons from around 60 million tons currently.
04:55 GMT

In November 2013, Iranian MP Hossein Sobhani-Nia said China had agreed to use $20 billion of blocked Iranian money to fund development projects in Iran to circumvent the international sanctions imposed on the country.

June 10, 2014

Hilton Worldwide Middle East & Africa recently introduced two of its brands to the region including Hilton Garden Inn and Double Tree Hotel.
12:54 GMT

The 362-key property will be located 97 kilometers from Doha.

Former army chief Abdel Fattah Al-Sisi was sworn in on Sunday, vowing to fix the economy and emphasising a need for hard work by all.
12:04 GMT

Buildings springing up in the densely populated Nile Delta result in loss of farmland and potential damage to irrigation systems.

Since Dubai — home to one of the strongest real estate markets internationally — has become a global player, fees for providing services have to be on a par with the city’s growth and development, said Bin Mejren.
11:09 GMT

Dubai has become home to one of the strongest real estate markets internationally.