Main headlines

September 16, 2013

Nourah urged the Ministry of Labor and local chambers of commerce to facilitate procedures for Saudi women and help them to set up their own businesses.
12:23 GMT

A young Saudi woman is making waves in the restaurant industry with a business that makes SR200,000 a month.

The arbitration proceeding has been commenced in the International Court of Arbitration of the International Chamber of Commerce, Paris, said a statement from Depa.
11:40 GMT

Lindner Depa Interiors (LDI) today announced that it has filed a Dh900 million ($250 million) international arbitration claim against the New Doha International Airport (NDIA).

The SAR353 million ($94 million) contract has been awarded to construct a 150 metre high, luxury serviced apartments tower in the strip on King Fahad road whose interiors will be designed by Italian fashion house Fendi.
11:13 GMT

Damac Properties announced that it has awarded the main construction contract for its Riyadh project, Damac Esclusiva Luxury Serviced Apartments to construction company Haramain Gate.

Sunday’s surge came amid report that investment by Gulf states in the UAE stock market surged almost 40 per cent in 2012 to $2 billion in shares.
10:07 GMT

The benchmark DFM General Index, which had been on a consistent slide over the past several weeks since reaching a five-year high on August 2 reached the highest in almost three weeks.

Twitter has filed for an initial public offer of shares with U.S. regulators, the company said Thursday, taking a first step toward what would be Silicon Valley’s most anticipated debut since Facebook Inc.’s listing last year.
09:24 GMT

“With the 300 million customers they have and half a billion tweets a day, the growth potential is tremendous,” Alwaleed said.

“Despite ongoing economic and geopolitical uncertainties, the world’s ultra wealthy population reached an all-time high of 199,235 individuals with a combined fortune of nearly $28 trillion in 2013."
08:51 GMT

About 5,300 rich people in the Middle East have a wealth of $880 billion, but which country has the lion's share of billionaires?

The development has been conceptualised to host 15,000 residential units including 2,500 townhouses and villas as per the current master plan.
07:33 GMT

The approximately 2.5 million sq m mixed-use community will take shape about 14.5 km from the Baghdad city centre.

Furthermore, the survey reveals employees are staying in their jobs for a longer period, resulting in a greater percent being eligible for higher EoSB payout.
07:17 GMT

80 percent of the total firms surveyed plan to increase their headcount over the next three years, with over a third (34 per cent) expecting double digit growth.

September 15, 2013

During his visit, the mayor said GAM will focus on activating tourism and commercial activity in downtown. Amman.
14:35 GMT

During a tour of the two areas, the mayor spoke to residents and traders and listened to their comments and proposals, noting that GAM is preparing plans that will safeguard the city’s architectural and historical heritage, restore its elegance and eliminate visual pollution.

Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman in particular will have dense urban conglomerations, with 45.1 million people expected to reside in GCC cities by 2020 – 85 percent of the total estimated population.
14:01 GMT

More than 226 million people will be living in cities throughout the Middle East and North Africa (MENA) by 2020, accounting for nearly 62 percent of the region’s total population, the United Nations (UN) has estimated

The mechanism to settle such disputes is to be made public after Eid Al-Adha holidays.
13:19 GMT

The Labor Ministry announced Saturday that it has taken steps to settle labor disputes within 10 weeks.

Hanafin said that if the UAE was to provide citizenship to expats it would be slightly detrimental.
12:57 GMT

While global trends are indicative of more countries offering citizenships, the UAE is not dependant on citizenships to attract investment.

Behind this acceleration in population growth lie the jobs created by the large infrastructure investment currently underway (Pictured: Doha city).
12:09 GMT

The new wave, QNB said, is mainly driven by expatriates filling in jobs created by the large ramp-up in infrastructure investment to prepare for the 2022 World Cup

“Wall Street continues to focus on increasing its market share and expanding its presence across the UAE, said Sultan bin Kharsham.
09:49 GMT

Located inside the Jumeirah Post Office on Al Wasl Road, the new branch complements Wall Street’s ongoing efforts to strengthen its presence in high potential markets

Lagarde refused to comment on the money that Egypt received from the Gulf Cooperation Council (GCC).
08:46 GMT

The remarks came after two years’ of negotiations between Egypt and the IMF over a $4.8 billion loan had stalled out following the 3 July ouster of former president Mohamed Morsi.