October 1, 2014
In August 2014, the top five routes from Abu Dhabi International Airport were Bangkok, London, Doha, Manila, and Bahrain.
From the best of both worlds, to the worst of both worlds: Canadian citizenship no longer a 'piece of cake' for GCC expats
Gone are the days when you could benefit from Canada and the Gulf at the same time.
The annual DV programme “makes US immigrant visas available through a computer-generated random lottery for persons who meet strict eligibility requirements”.
A study expected that annual contributions are likely to average $5 billion in the coming years, which equates to at least 10 per cent of the total average annual inflows to this sector.
The shale oil boom in the US began in 2008 and has increased US crude output by 60 percent
The launch, days before the annual haj pilgrimage, is timely. An estimated 1.4 million Muslim pilgrims are expected to arrive in the kingdom this year.
Plans for subsidy cuts have received little publicity in the Kuwaiti media, perhaps because of their political sensitivity.
September 30, 2014
Markets are looking ahead to Fitch's announcement of Turkey's credit rating and economic outlook, which is due on Friday.
Gold fell on Monday as downward pressure from a strong dollar outweighed support from unrest in Hong Kong.
The recall of as many as 141,007 Toyota and Lexus cars has been initiated in the sultanate to install Smart Stop Technology.
Even the numbers are on the feminist side: companies with females in top management yield higher returns
Board diversity having increased in almost every country and every sector, progressing from 9.6 percent in 2010 to nearly 12.7 percent at the end of 2013.
A key differential factor in this period in that volatile producers in Africa and the Middle East experienced a spike in production.
The project will also include pedestrian crossing, bridge and separate lanes for motorbikes and pedestrians in addition to a tunnel, it added.
According to 73 per cent, meetings within their company remain focused and on the right track.
Egypt has struggled to curb its swelling budget deficit whilst meeting soaring energy demands, resulting in daily electricity cuts around the country of 86 million people.
Running a dictatorship is a pricey endeavor. It comes as no surprise then that since 2010, annual spending has risen 52 percent, reaching $265.5 billion in 2013.
September 29, 2014
Emirates NBD, one of the region’s leading banking groups, is now the largest issuer of conventional bonds on the region’s international exchange.
Mohammed Yousuf Naghi Motors confirmed a 51 percent surge in sales over the same six-month period in 2013
French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta,
This seismic financial macro event has huge implications for the Gulf’s equity, property markets and liquidity engines, now that Brent crude has fallen $20 a barrel in the past three months
Sayed Ali Zaki, an economist, for his part said the decrease in exchange rate is due to NISS's campaign against black market traders, as well as reduced Forex demand.
In an effort to control the rising drug costs, authorities have been slashing medicine prices for the past three years
Just when iphone 6 stocks ran out: ex-apple CEO of Obi mobile to introduce five affordable smartphones to the Middle East
He was not coy, however, in suggesting what his former Apple compatriot Steve Jobs would think of the Obi Mobile devices. “Steve being Steve would say, you can do alot better,” he said.
“With the rise in the number of affluent investors in recent years, there has been an increasing demand for sophisticated financial solutions, including the Gulf,” he added.
The summertime fighting delivered a serious hit to Israel's thriving tourism industry, causing losses of hundreds of millions of dollars and sparking concern that aftershocks may continue well after the war.
Only nine percent of high school graduates have taken up technical and vocational programs in the Kingdom compared with 41 percent in OECD member countries and 37 percent in Turkey
September 28, 2014
Saudi Arabia keeps things local with selection of three companies to deliver $373 million water project
The Saudi government has awarded a contract worth more than SR1.4 billion ($373 million) to three local companies for a major water project in the capital Riyadh.
Covering the panoramic view of Paris, the fashion show will present extraordinary collections from eight countries and mark Jessica’s eighth history making catwalk around the world.
"This is the first time in QAIA history that we exceed such a benchmark, and we eagerly look forward to reaching even greater heights in the future," he added.
With $100 billion in foreign reserves: is Libya's central bank monopolizing the country's economic potential?
While the battle for control of Libya's oil ports has been seen as a critical indicator of victory in the civil war, the money received from oil sales currently has one sole destination: the Central Bank of Libya.
Ploughing through, on free army land: Arabtec says $40 billion housing project in Egypt nearly completed
The project would not only mark a huge expansion of Arabtec’s business but also boost Egypt’s struggling economy and help to resolve a housing shortage that has become a major source of political discontent.
An analytical study conducted by the Abu Dhabi Police has revealed multiple professional plans to rob bank customers after they finish their financial transactions.
400% growth posted so far in 2014; Qatar, Kuwait being eyed.
"Our units were completely sold out in 45 minutes and the next consignment will come in three to four days time,”
When South Sudan was born, the world's youngest country had generous Western allies and sturdy oil exports, a formula that offered a chance to build a modern economy and drag its people out of their daily struggle to feed themselves.
"Basically we are saying you can have it switched on, and it's up to the airline first to allow you," Maragakis said.
Could it be that Mr. Al Suwaidi has paid the price for calling a halt to the latest Dubai real estate boom with the raising of mortgage criteria last autumn?
September 26, 2014
Pictures and videos of warped and damaged iPhones swept the Internet as hundreds of users realised their new smartphones were ruined.
September 25, 2014
The petroleum aid has not, however, managed to noticeably ease Egypt’s energy frequent power cuts, even in upscale areas.
KPMG has identified one possibly underutilised route for investment with the involvement of high-net-worth individuals (HNWIs), many of whom have family business experience as well as significant investment capital.
The effect of Operation Protective Edge on tourism is also being felt,
The goal is to promote technological values together to preserve the planet’s resources, in a bid to encourage political leaders and organisations to adopt cleaner and more efficient technologies.
Madbouly stated that Egypt will obtain a concessional loan with the value of $500m for the social housing programme, over several years, with around $100-120m annual instalments.
Meanwhile, revenues from maritime corridors and ports in other countries that do not enjoy a similar location as the Suez Canal and its ports are much higher than Egypt.
Around 7 per cent of the Kingdom’s population work in the ICT sector, whereas the regional rate does not exceed 4 per cent.
BlackBerry is set to launch the Passport early on Wednesday in Toronto, with simultaneous events also being held in London and Dubai.
Instead of tensing up the relations with these institutions, extra effort is required to convince them, he added.
September 24, 2014
Qatar is the world's largest producer of liquefied natural gas (LNG).
As part of Damas’s redefined global strategy, the brand has divided its retail stores into two formats - ‘Damas’ and ‘Damas Collections’.
Over $25 million of Bank Audi shares were traded on the Beirut bourse Monday as part of efforts to raise the capital of the bank.
The antithesis of economic development: an inside look in to Morocco's archaic, yet alive, class system
Individuals are not recognized for their knowledge, experience and contribution but for their tribal identity: to which big and influential family they belong.
More valuable than gold or property at home? Overseas Property beats gold as more popular asset for UAE residents
Of those UAE residents who have invested in property, 41% have invested in properties overseas, compared with just 12% owning property in the UAE.
Homeless families in Gaza also complain that they have not received good quality aid, some of which is either sold in local markets or given to people who did not lose their homes. This involves what locals have started to name as “VIP coupons”.
The UAE has overtaken Canada to rank among the top three attractive markets in the world for investment in infrastructure.
The new vessel means the navy "will double its capabilities, it will be able to reach further and deeper, for a longer period of time, demonstrating force unknown till this day".
September 23, 2014
More than 130 companies are involved in producing or trading the equipment, typically marketed to law enforcement agencies, up from about 28 companies a decade ago,
Research by Dubai website Dubizzle showed rents and house prices in Dubai’s prime locations now match those in Manhattan.
A plethora of trial errors and excluded evidence: Arab Bank to appeal liable verdict on supporting Hamas by New York court
The law firm listed a number of errors made by the court during the trial.The trial was infected by scores of errors, and the Bank has very strong grounds for appeal.
The value of new infrastructure projects across the Gulf Cooperation Council (GCC) region is poised to hit $86 billion in 2014, up 77.8 per cent compared to last year, said a report.
The Mena region’s appetite for applications and services being delivered to devices irrespective of geographic location is evident from the region's growing interest in cloud computing
Since the bank introduced this service on September 7, more than 8,000 customers have registered their ID cards with the bank to use them as ATM cards.
September 22, 2014
Of the total population, 78.5 percent reported not being able to take a one-week vacation away from home due to financial constraints.
A leading Egypt-based investment group has signed a deal to acquire a five-star hotel in the Business Bay area facing Burj Khalifa in Dubai, UAE.
The 2022 World Cup will not be held in Qatar because of the scorching temperatures in the Middle East country, Fifa executive committee member Theo Zwanziger said on Monday.
Whether you’re walking into a social gathering or a job interview, there are some universal things to keep in mind when introducing yourself.
One of the main challenges in the region is to reverse the outbound medical tourism trend, and provide specialised services in line with the required capacity and the prevalence of lifestyle diseases
reign investors are salivating at the prospect of investing in Saudi Arabia’s well developed but frontier market with a string of world-class companies that have remained largely out of the portfolio of global fund managers.
In a countersuit filed in the Delaware Court of Chancery on Thursday, Al Jazeera is seeking to keep the money that Gore and his former partner Joel Hyatt had sought in a lawsuit filed in August.
One of Dubai’s top government officials said on Sunday that he expects state-owned conglomerate Dubai World to reach a deal on renegotiating its debt repayment schedule in the near future
September 21, 2014
The Middle East’s largest and most influential property show is also co-located with three dedicated and expert-led conferences.
“We got around 200 pieces on Friday afternoon and it was sold out within 20 minutes. Around 40 pre-booked customers flew in from Saudi Arabia, Qatar, Oman, Jordan and Kuwait to collect their devices,” he said.
Fertilizers that can combat nutrition deficiencies will be a major opportunity for GCC producers.
In a country where most residential towers have their own gym facilities, Gold’s Gym is looking to lure members with the promise of a larger range of equipment, more floor space and a better atmosphere.
The Mongol Tower and WOO City developments will be highlighted at Cityscape Global as part of Nikken Sekkei’s extensive showcase of global design projects
Exploration companies have been hesitant to develop untapped gas finds in Egyptian waters partly because the amount the government pays them barely covers their investment costs.
That marks the dollar’s longest rally since the index was created in 1973 - and could pose significant headwinds to dollar-sensitive sectors of the market.
The Al Sejeel petrochemical project, one of the world’s largest mixed-feed steam crackers, was scheduled for completion in 2018 as part of Qatar’s large-scale expansion of the petrochemicals sector.
The maker of luxury leatherware and Miu Miu-brand dresses said it was hit by sluggish consumer demand amid an uncertain economic outlook and unfavourable exchange rates.
September 19, 2014
Prince Abdulaziz Bin Salman Bin Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs, dismissed arguments that lower oil prices will cause the collapse of GCC economies.
While major events were once the domain of Europe and North America, Asia is now viewed as a 'safe pair of hands' when it comes to hosting the world's biggest sporting competitions.
September 18, 2014
Not so healthy? Apple rolls out iOS 8 to iPhone users but detective bug delays HealthKit availability
Meanwhile, the California tech giant said a bug in its HealthKit health and fitness application platform prevented its release along with the launch of its iOS 8 operating system for iPhones and iPads.
It was only the second sukuk issue from a conventional bank outside a predominantly Muslim country; HSBC issued $500 million of sukuk in 2011.
The US investment bank appears to have learned from the fiasco of its first attempt to market a Sukuk in 2011.
That “dream” home can quickly turn into a nightmare if you’re constantly struggling to make payments on it.
Qatar has faced growing criticism, as the tiny Gulf state has used its hydrocarbon wealth to back a wide range of Islamists across the region.
Erdogan's ready to smear the banks: is Turkey about to face a financial crisis worse than that of 2001?
“You can't run a mill with a bucket of water,” Erdoğan said.
A European legacy of distrusting Gulf airlines? Global airlines alliance model 'fractured', says Etihad CEO
European airlines have finally opened up to Gulf carriers, forging partnerships and selling stakes, after decades of distrust and allegations of unfair competition.
Egypt's finance minister is predicting growth rates of up to 6 percent within three years, which would mark a major turnaround following three years of political turmoil that has crippled the economy.