June 12, 2013
The Ministry of Finance and the Central Bank of the UAE have announced today the signing of a Memorandum of Understanding (MoU) in implementation of a Council of Ministers resolution.
Annual inflation in Yemen surged to 14 percent in April, the highest level since February 2012, fuelled by rises in the prices of food, tobacco and qat, central bank data showed on Tuesday.
After recording a strong growth in first quarter net profit and net income, Emirates Islamic Bank is gearing up towards an aggressive push in the competitive retail
Most regional equity markets ended the day modestly higher amid expectations of a possible MSCI upgrade for UAE and Qatar to emerging market status.
The recovery of the Dubai property market has led to a boost in the consumption of auto parts, according to exhibitors at Automechanika at the Dubai International Convention and Exhibition Centre. The event opened on Tuesday.
Sharaf Retail is on an expansion mode and is set to hire 1,500 additional employees over the next 18 months, the company announced on Tuesday.
June 11, 2013
Saudi Arabia is currently undertaking ground-breaking transformations in the transportation sector and Huawei Technologies aims to place the passengers at the heart of the new transformation by emphasizing safety, comfort and reliability as critical components of railway infrastructure.
Bahrain has agreed to increase payouts to around 100,000 needy families in an attempt to end the impasse on the national budget.
There is keen international interest in the kingdom's aviation industry, Bahrain Airport Services (BAS) has said.
Qatari investors have increased their stake in Total to 4.8 percent, said news website Wansquare on Monday. According to the news website, investors from Qatar have increased their participation in the past year and notably in recent weeks.
Over 100 business leaders representing over 80 Qatari small and medium businesses from various sectors attended the SME Evolution Program 2013 launch event in the Four Seasons Hotel Doha.
Bahrain has picked four banks to arrange investor meetings ahead of a potential sovereign bond issue, a document from lead managers said yesterday, with proceeds likely to be used to plug an expected budget deficit for 2013.
Hotels, Umrah operators and aviation firms will incur SR 5 billion in losses due to the Haj Ministry’s recent decision to limit the validity of Umrah visas to 14 days, according to the estimates of the National Committee for Haj and Umrah (NCHU).
Despite an upward jump (+16.5 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a nominal decline of 0.08 percent yesterday.
Indian expatriates who were sending money back home had smiling faces yesterday as the struggling Indian rupee hit a record low against the US dollar.