April 17, 2014
Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Qatar, as well as Oman and Turkmenistan.
Prime Minister Abdullah Ensour said this week that Jordan's economy is recovering and moving steadily forward despite the global financial crisis and the Syrian infighting.
Short-term pain, long-term gain? Emirates airlines to cancel 41 destinations for Dubai runway upgrade
Emirates Airline said on Thursday that runway upgrades at Dubai International would cut its revenues by Dh1 billion ($272 million) this year as it has to reduce flights to 41 destinations worldwide.
Small and medium enterprises (SMEs) are set to contribute 37 percent to Saudi Arabia's GDP but should the Kingdom look elsewhere for investment?
Qatar's main index rose 1.1 percent, making it the highest close since June 2008.
Ever feel like you're banging your head against a "productivity" wall? Saudi employees know how you feel
Six out of ten Saudi workers felt they didn't have the necessary tools or recourses to be productive according to a Global Workforce Survey.
Positive reaction: Dubai's recently imposed fee on hotel guests had no negative feedback according to the head of the city's tourism authority.
Families in Abu Dhabi households reportedly spend an average of $1,498 on landlines and mobile phones while $1,004 is spent on education.
Inflation climbed to its highest since 2010, according to data released by National Bureau of Statistics. Housing, utilities and food all contributed to the rise.
According to a STR Global Construction Pipeline Report, 573 hotels are expected to open across the Middle East and Africa.
2014 is promising to be a record-breaking year for the GCC's construction industry.
The exhibition considered the biggest family gathering in the field of weddings and fashion as it involves more than 80 companies around the world
The interim government is currently preparing a new economic stimulus package that will focus on the industrial, housing and construction, communication and tourism sectors.
Arab bankers on Wednesday blamed "Arab Spring" for the deterioration in the region's economies.
April 16, 2014
"Ultimately Egypt and Turkey need energy, and the fact that we have it is creating a regional convergence of interests," an Israeli diplomatic source told Reuters.
Egypt's generals the economy to develop along lines of their choosing and have taken the opportunity not just to entrench their business activities even further, but upscale and expand them.
Bahraini banks will be fully ready to implement the Basel III international banking standards on new capital requirements by next year, the governor of the Central Bank of Bahrain (CBB) said
The national airline of the UAE racked up $1.4 billion in revenues as it transported 3.2 million passengers, higher by over 14 per cent year-on-year
Is flat hunting in Dubai as expensive as it seems? Around 17,000 new homes are due to be built this year, with more affordable price tags attached.
Consumer Confidence grew by 10 percent in 2013 according to the Abu Dhabi Department of Economic Development.
The Qatari government has pledged an estimated $182 billion into infrastructure, focussing on eco-friendly green building over next five years.
Healthcare spending reached just under $17 billion in 2013 and is expected to grow, says a new report by the U.S.-UAE Business Council.
Relations with the IMF soured when Egypt suspended negotiations over a loan worth billions in 2013, but this may improve with upcoming discussions.
The six-month ban on expat workers, which was due to expire as been extended according to a source at the Ministry of Manpower.
The World Bank has agreed to support Lebanon's Finance Ministry with a $5.2 million loan.
A new study by consumer group Nielson says that car sales in the Middle East will go up in the next two years.
The expansion of relations with the Islamic Republic, which enjoys high status in the region, is one of the UAE’s priorities, said Sheikh Mohammad.
Iran’s economy could grow between 6% and 8% in an optimistic scenario, according to a global information company report.
“Budget-conscious Dubai residents are now relocating to Sharjah in a flight to affordability,” said John Stevens, managing director, Asteco.
Libya prepared to resume oil exports Tuesday following a break of more than eight months, after autonomy-seeking rebels agreed to lift their blockade of ports in the country's east.
April 15, 2014
Political unrest has seen gas exports fall in Egypt while electricity consumption went up by almost a third. Will it be an expensive summer?
Food, lifestyle and products manufactured under Islamic law are expected to be worth $2.48 trillion in the next four years due to increasing demand and a growing Muslim population.
Charging stations for electric cars will soon pop up all over Dubai to enhance grid efficiency.
Oman's government and BP signed a contract to develop the Khazzan gas field of Block 61 and will be completed by 2017.
Not part of the strategy: Tourism chief says hotels being built in Dubai are not specifically for the World Expo in 2020.
The Samsung Galaxy Note has debuted in Bahrain with a whole new selection of functions.
A top government official has announced the Kingdom's plans to build 63 new hospitals across the country, boosting service and quality medical care.
America's welfare state was modelled as a good example to provide for the poor. But what if the rich invested more in those less fortunate?
Crude oil futures rose to the highest level in five weeks on Monday as heightened tensions over unrest in eastern Ukraine fuelled concerns over potential supply disruptions.
Turkey's foreign debt increased $49.9 billion in 2013, breaking national records as the highest single-year increase in foreign debt in the history of the Turkish Republic.
Prominent lawyer and former 2012 presidential candidate Khaled Ali went as far as to describe the amended law as "legalised thuggery".
The Bank has not lent any new money to Iran since 2005.
April 14, 2014
The first spot went to the Kingdom of Saudi Arabia, which had 39 names on the list, while third went to the United Arab Emirates, which had 14.
Moving forward? Not with diversification at least, Kuwait signs $12 billion worth of oil contracts, tenders others
The contracts mark the first mega project in the OPEC member's vital oil sector for 25 years.
Despite tense relations, Turkey is the top destination for Israelis this Passover, with 6,300 people planning to spend the holiday there
The usual love-hate relationship: Saudi accuses US of stalling IMF governance reforms and clinching on to voting power
The US is responsible for delaying long-awaited IMF reforms, Saudi Finance Minister Ibrahim Al-Assaf told Asharq Al-Awsat on the sidelines of the Spring Meetings of the IMF and World Bank in Washington, DC on Saturday.
Saudi Arabia's banking sector has outperformed its western counterparts in terms of profitability as well as efficiency in terms of resource utilization.
New legislation is set to help boost small and medium enterprise development in the emirates, but to what extent will the new policy translate into prosperous growth on the ground?
Lebanese startup digital media company Diwanee is paving the way for more domestic startups and entrepreneurs to move onto the global platform.
Iran has agreed with Indonesia's leadership to construct six oil refineries in the Asia Pacific country.
Renovations at Dubai's International Airport will force at least eight airlines to move their operations to the emirate's second airport until the overhaul is complete.
Politicians and economists alike have described Jordan's middle class as "vanishing" over the past 20 years, but how accurate is such commentary in today's context and what exactly is meant by "middle class"?
The items bear American brand labels that together read like a list of U.S. Department of Defense basic equipment and apparel contractors.
The UAE is set to raise its production capacity to 3.5 million barrels per day aimed at keeping a market balance.
This year Kuwait contributed $500 million, and last year it contributed $300 million.
The sale of the Leopard-2 tanks had been billed as one of the biggest deals for the German armaments industry, Bild reported.
April 13, 2014
Only 18 months ago many multinationals did not even dare to bring up the name of Iran, even using terms such as ‘TOMC’ in internal memorandums: The Other Middle Eastern Country.
Sources close to the committee expected the closure of shops to be effective before the advent of Ramadan in early July
In Egypt, 16% reported that their financial position has improved in the last six months, while 34% claimed there has been no change, and 42% reported a decline.
The UAE came 37th in the 2014 Social Progress Index, ranking the top among Middle East countries. What is the Emirate's secret for good development?
Add this to the list: Urbanization could be one of the biggest challenges for Egypt's next president
Much of Egypt remains derelict, but development is rising as the population increases. Agriculture and urbanization of the country will be a key factor in the upcoming elections.
Iraq's Ministry of Oil is planning to export 300 oil barrels internationally.
Not the Expo, but still a recognition: Dubai featured in TripAdvisor top 25 places to visit list 2014
Dubai has been nominated in the TripAdvisor Traveller Choice Awards as one of the best places to visit in 2014.
Saudi's yearly food, hotel & hospitality Arabia exhibition takes opens on Sunday with over 400 booths set up from other countries.
U.S. firm announces collaboration with Dubai to open new theme park in 2017, and even Bollywood is part of the plan!
U.S. Six Flags brand will open a new theme park in Jebel Ali. The move is set to increase tourism in Dubai and create a bigger business partnership between America and the UAE.
A senior banker has said customer service within the banking sector is "complex and difficult," but efforts are being made to change this.
Smartphones and MP3 devices face new competition as Sony unveils its latest Walkman with a playback time of 20 hours.
Israel’s audacity to torpedo international legal instruments, mount blatant attacks on hapless Palestinians and encroach on their territories is nothing but fascism at work.
Apple has reportedly accused Samsung as 'copycat' once again claiming billions of dollars in damag
The US shale gas boom has transformed the global energy equation into one that is difficult for GCC nations to calculate.
Persistent post-Arab Spring cronyism: Algerian businessmen are pouring endless cash in Bouteflika's re-election
Because the spending is technically illegal, no public record is kept of where the campaign funds come from.
April 11, 2014
His team created the iPhone's famous 'slide to unlock; function and the ability to place calls from a contact list, CNET reported.
The company says it’s in the process of creating a program to repair or replace the computers, or will refund their purchase price.
The usual collective punishment approach: Israel withholds tax revenues from Palestinians, in move described as 'privacy'
Erekat spoke a day after an Israeli official said Israel would stop the tax money transfers in retaliation for the Palestinians pushing to sign up for more recognition from international agencies and treaties.
Global sales of the Galaxy S series totaled 200,000,000 units since its introduction.
The report indicates a “recovery” in the Qatar’s real estate market in view of the current construction boom in the country.
April 10, 2014
Dubai’s foreign trade is expected to touch Dh4 trillion by hosting Expo 2020, Mahmoud Al Bastaki, CEO of Dubai Trade, said on day two of the Annual Investment Meeting 2014 in Dubai.
Saudis on social media Wednesday praised Deputy Crown Prince Muqrin for saying the nation's banks are not doing enough for the poor.
Universities in Dubai are looking to expand their campuses and programmes to equip students with the skills needed for Expo 2020.
Iran’s foreign minister said Wednesday that his country and six world powers were in “50 to 60 percent agreement” on the shape of a nuclear deal to crimp any potential Iranian attempt to build nuclear arms in exchange for an end to crippling economic sanctions.
Two Swiss adventurers plan to start and end their historic round-the-world flight in a solar aircraft from the UAE.
International energy companies will be able to start drilling for gas off the Lebanese coast at the end of 2015 if the August auction date is met, a source familiar with the tender process said Wednesday.
But isn't anything life-saving inherently halal? Saudi Arabia, Malaysia bilaterally developing 'halal' vaccine
The vaccines that are the focus of local and international scientists and Shariah experts, are meant to treat meningitis, hepatitis and meningococcal.
When it comes to the UAE, there's no escaping it: Abu Dhabi rent removal cap already hitting residents
Abu Dhabi’s decision to remove the 5 per cent rental cap was the factor fuelling the increases, much to tenants’ dismay
Matthew said that the respective long terms visions of the countries of the GCC can provide the building blocks for smart urban environments.
How is it still the world's largest car manufacturer? Toyota forced to recall another 6 million vehicles over 'string of problems'
Last month, it reached a deal to pay $1.2 billion to settle US criminal charges that it covered up a sticky pedal blamed for dozens of deaths.
April 9, 2014
Fearing a disruption in Ukraine’s exports, corn prices rose 20 per cent year-to-date, while wheat prices increased by 13.5 per cent.
Deputy Prime Minister Ali Babacan said on Friday that is not appropriate for political figures to say too much about the central bank.
The Dubai carrier started daily services to Kiev on A340-500 aircraft in January.
A recession like the one in 2002 would cause 23,000 families to struggle to meet payments.
Exports from Dubai to Saudi Arabia crossed AED9 billion in March 2014, according to Dubai Chamber figures.
Alstom, a global leader in power generation, has secured a contract worth nearly 400 million euros ($549 million) from Eni Iraq BV to build a 740 MW1 Zubair gas-fired power plant, near Basra in southern Iraq.
Senior envoys from Iran and six world powers met for a new round of negotiations on Tuesday, in an effort to reach a broad agreement on scaling back Iran’s nuclear programme and lifting sanctions by July.
Head of the Abu Dhabi Department of Economic Development (ADDED) at the German Federal Foreign Office, Dieter W. Haller, on Tuesday expressed his interest in further developing the positive economic partnership between the UAE and Germany.
The International Monetary Fund (IMF) has revised the UAE’s 2014 GDP forecast to 4.4 per cent on the back of rising real estate prices and the Expo 2020 win.
Non-performing loans (NPL) in the UAE could double in the next few years on the back of growing credit demand and as banks fail to refine their debt collection strategies.
Again, the performance of Middle East banks clearly exceeded that of their international counterparts, a number of which experienced further revenue declines in 2013.
Around 71% of young Egyptians feel that individuals belonging to their generation are more likely to start a business compared to their older counterparts.
In previous remarks to The Jordan Times, Ruoshoud said Jordan's investment inflows rose by 19.5 per cent in 2013 “reflecting investors’ confidence in the Kingdom’s economy and business environment".
Separately, the IMF expects economic growth in Tunisia, cradle of the Arab Spring uprisings, to gather pace on the back of political and security improvements.