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Developed markets poured leveraged capital into the UAE
13:30 GMT
The UAE is increasingly becoming a preferred destination for foreign private capital as the country proved a safe haven for investors amid the political turmoil in the Arab world.
Brent crude rose 16 cents to $104.80 a barrel
11:46 GMT
Benchmark oil for June delivery gained 69 cents to close at $96.71 a barrel on the New York Mercantile Exchange.
The ministry will hand unskilled jobs to locals eventually
10:49 GMT
INJAZ Saudi Arabia said the country needs a number of qualified executives and skilled manpower to drive the economy and make the best of the current economic boom in the Kingdom.
"Annual credit growth is likely to be closer to 14-17% y-o-y"
10:11 GMT
Qatar’s banks’ credit is likely to grow by 14% to 17% year-on-year (y-o-y) in 2013, much lower than the average 27% expansion seen in the previous two years, according to a Barclays study.
The International Monetary Fund
10:03 GMT
Inflation in Egypt is expected to climb to 10.9 percent this year, the highest level since 2010, the International Monetary Fund said on Tuesday, more than it expected in April.
Abu Dhabi Corniche
06:00 GMT
A good part of the funds would be invested towards the development of the emirate’s Western Region.
Air Arabia
05:00 GMT
Air Arabia said on Monday it has signed a $350 million financing deal from a syndicate of two GCC banks — Qatar National Bank (QNB Group) and Commercial Bank International (CBI).
Dubai Electricity and Water Authority (DEWA)
05:00 GMT
Dubai: Dubai Electricity and Water Authority’s conservation initiative saved Dh16 million in electricity and water, it was announced at the eighth Conservation Award for the educational sector.

May 20, 2013

Spending on interiors is expected to increase 28 per cent
13:48 GMT
The UAE is expected to be the biggest spender in the GCC on home interiors and fit-outs, with an estimated $1.5 billion (Dh5.5 billion) budget in 2013 as the country’s residential market continues to grow.
The road originally has seen the construction of 11 service projection lines
12:40 GMT
Work on a Dh267.5 million roads project will begin on an 80 kilometre two-lane highway that links Abu Dhabi’s third largest city with the Western Region.
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at the headquarters building in Vienna on April 4, 2013 (ALEXANDER KLEIN/AFP/Getty Images)
11:51 GMT
The Organization of the Petroleum Exporting Countries (Opec) will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year.
The City Hospital in Dubai
11:50 GMT
Medical tourism has been brought to the fore with renewed optimism and a host of projects as announced by the Dubai Health Authority (DHA) on Sunday.
46 percent of Internet users in the UAE shop online
11:45 GMT
The arrival of PayPal promises to create a new landscape for online shopping.
The UAE wants more of its youth to be entrepreneurs.
10:46 GMT
The UAE wants more of its youth to be entrepreneurs.
Non-oil GDP rose to an expected 6.7pc in 2012
10:40 GMT
Bahrain's real gross domestic product (GDP) is estimated to have expanded 3.9 per cent last year from the 1.9pc growth seen in 2011.
Central Bank of Egypt
10:29 GMT
Yields on Egyptian three- and nine-month treasury bills climbed on Sunday and the auction's size was reduced after a new central bank decree limited the amount of funds that banks can channel into money market funds to buy T-bills.
 Turkey woos Gulf nationals as property investors
05:40 GMT
Priding itself as the gateway between Asia and Europe, Turkey is successfully attracting Gulf nationals to its real estate sector.
Abu Dhabi Securities Exchange
05:40 GMT
Dubai’s benchmark stock index rose to its highest closing level in almost four years while the Abu Dhabi market general index surged to its highest level since October 2008 on Sunday on the back of a rally in real estate and banking shares.
Central Bank of Egypt
05:00 GMT
Shura Council decision to raise taxes on loan loss provisions at nation's banks is met by anger; banking officials are slated to meet with newly-appointed finance minister to discuss issue.
The grants will be provided to outstanding students
05:00 GMT
The Governing Board at the American University in Dubai (AUD) approved Dh30 million (some $8.2) million in scholarships in its 2013-2014 annual budget.
World Bank end poverty campaign
02:11 GMT
The World Bank has approved a $30 million soft loan aimed at supporting a government initiative to improve access to basic services in impoverished parts of the country.

May 19, 2013

The airline currently has a backlog of 21 Boeing airplanes on order
14:15 GMT
Boeing has delivered a 777-300ER extended range plane to Saudi Arabian Airlines (Saudia), marking the latest milestone in its longstanding relationship with the airline and the kingdom.
GCC currencies
13:41 GMT
Gulf hydrocarbon producers emerged as the 13th most powerful economy in the world in 2011 while strong oil prices allowed them to become the fifth largest exporter with the highest trade surplus.
UAE’s international tourism receipts are somewhat close to $10 billion
12:39 GMT
The UAE is the world’s 31st popular tourism destination and the most popular in the Arab World, ahead of Egypt — ranked 32nd and Saudi Arabia ranked 35 — in terms of tourism receipts.
Saudi Arabia aspires to increase mutual trade with other countries
12:34 GMT
Saudi Arabia's nonoil exports to the Arab countries had increased five-fold compared to the past seven years.
Ever wondered why Oman Air cabin crew were so nice?
12:25 GMT
Oman Air has committed RO2mn ($5,2 million) to staff training in 2013, having already invested more than RO3.3mn (some $8 million) over the previous two years.
The performance of the UAE stock markets is broadly in line with the rise in global stock markets
11:27 GMT
Both the Dubai Financial Market and Abu Dhabi Securities Market are trading at a nearly four-year-high, reflecting a return of investor confidence.
Gold traders are predicting that demand will increase
11:14 GMT
Gold prices yesterday dropped to their lowest level for the second time in almost a month, sparking a shopping frenzy at gold shops across the Kingdom.
Ministry floats 11 tenders for Sharqiya internal roads
06:00 GMT
The Ministry of Regional Municipalities and Water Resources (MRMWR) has floated as many as 11 tenders for the design and construction of internal roads in South and North Sharqiya.
UAE trade surplus to hit $ 90.7 billion
06:00 GMT
The UAE economy growth is expected to lower to 3.9 percent in 2012 after a solid 2011, when the GDP expanded 5.2 percent led by high oil prices and a 10.2 percent increase in oil production.
Qatari banks will continue to look at international expansion in 2013-14
05:00 GMT
The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20 percent in assets from March 2008 - March 2012 and another 20 percent in the year to March 2013.
Digital advertising spend in the region is expected to grow
05:00 GMT
While regional advertisers are aware that the industry is going 'mobile’, spend on digital advertising is still low.
Omantel will offer redundant routed capacity with superior quality and the lowest latency
05:00 GMT
Omantel announced that it inked an agreement for another submarine cable, the 'Bay of Bengal Gateway' submarine cable system (BBG).

May 16, 2013

A sky view of Mecca, Saudi Arabia
14:36 GMT
Saudi Arabia will continue to make the most of the competitive advantage presented by its hydrocarbon reserves despite rising US shale oil production.
Retail showed the best performance among sectoral indices
13:04 GMT
The Saudi stock market recorded nominal gains yesterday, as the Tadawul All-Share Index (TASI) closed higher to 7,147.42, adding 8.11 points or 0.11 percent for the entire day.
Credit is likely to maintain the current trajectory
12:57 GMT
Saudi banks continue to support the macroeconomic conditions by providing the necessary financing for local businesses.
Gas Prices Continue To Rise As Uprisings In Mideast Drive Price Of Crude Oil Up (Getty Images)
12:45 GMT
The Middle East is facing a double dilemma over the global competitiveness for oil in the future.
At least 20 percent of students say that they resort to political connections and 73 percent think that political connections are important to find jobs. (photo: Haitham Moussawi)
12:41 GMT
When Lebanese graduates begin looking for jobs, what does it actually mean to employ personal connections to improve employment chances?
Zaya Dubai will be the developers
11:42 GMT
Dubai-based Skai Holdings plans to build a $1 billion (Dh3.67 billion) hotel with over 200 serviced apartments on Palm Jumeirah.
Google was set to launch a music subscription service
11:40 GMT
“Expect to hear a lot of noise on new search products like Google Now and voice search integration.“
(Getty Images)
11:12 GMT
Alfa unrolled the country’s first commercial 4G data service in certain areas of Beirut Wednesday and Lebanon’s second mobile operator, touch, is set to follow suit next week.
Staff are angry and frustrated with their company’s policy
10:23 GMT
The firm in question has been keeping employees’ mobile phones under lock and key during working hours.
"The recovery in the economy is solid, the expectation is around 4 per cent"
10:16 GMT
Dubai’s benchmark index continued yesterday from where it ended on Tuesday, as stocks maintained their upward trend to set new highs since October 2009.
DSI has bid for mechanical works at Abu Dhabi’s midfield airport terminal project
05:40 GMT
“Abu Dhabi, I think, is expected to release a lot of work this year, including the building of the new Dh2 billion Khalifa hospital,” said Tabari.
A total of 2,940 trades were executed
04:40 GMT
Positive global equity markets rubbed off on the Muscat Securities Market general index, which closed Wednesday's trading up 0.53 per cent at 6,352.19.

May 15, 2013

Saudi Arabia has resorted to strong fiscal stimulus measures
13:57 GMT
Saudi Arabia’s real GDP is estimated to have expanded 6.8 percent in 2012.
The price has also recovered by $100
13:21 GMT
People usually rush to the sales in January to snap up the bargains and across Asia it has been the same story for gold since the price crash last month.
Bank Muscat
12:51 GMT
The private placement amounting to 5.28 per cent shareholding stems from the bank’s overall capital augmentation plan.
Something very odd is going on in global stock markets this summer
12:36 GMT
Stocks seem to be rising for no apparent reason.
Ashghal’s five-year projects include construction of more than 70 huge projects
11:55 GMT
The Public Works Authority (Ashghal) will invest $30 billion in building and infrastructure projects in the next five to seven years.
The region remain dependent on the price of oil for its prosperity
11:36 GMT
Nine percent is the equivalent of adding USD 10 billion to the Bahraini economy every year
 UAE researchers discover biodiesel to run motor engines
10:31 GMT
UAE researchers have discovered the oil extracted from microalgae as a promising alternative to diesel, saying it can run motor engines effectively without any modifications.
The group’s net production averaged 61,400 barrels of oil
10:27 GMT
Revenue from the sale of hydrocarbons during the period was Dh557 million ($152 million).
Premium growth was largely in the medical insurance business in UAE
01:23 GMT
Oman National Investment Corporation Holding (ONIC) has reported a net profit of RO3.08mn for the first quarter ended March 31, 2013.
The concept of supporting their employees in enhancing personal savings is still new for companies in the UAE
01:12 GMT
Some companies are slowly warming up to the idea of establishing an employee savings plan as an alternative to a pension scheme.

May 14, 2013

Central Bank of Oman
13:16 GMT
The Central Bank of Oman has urged licensed banks operating in the Sultanate to show more interest in financing small and medium enterprises.
Kuwaiti Parliament (Getty/AFP)
11:53 GMT
Kuwait’s GDP has been forecast to grow 1.1 per cent in 2013 as oil prices and production stabilises.
Jazan Economic City
11:31 GMT
In its first stage, the factory will produce 500,000 tons of titanium dioxide and 250,000 tons of pure raw steel for local consumption.
Institute of International Finance (file photo)
10:46 GMT
The UAE’s economic growth is projected to moderate to 3.6 per cent in 2013 from an estimated growth of 4.8 per cent last year.
Air Arabia
09:58 GMT
Air Arabia said on Monday its net profit for the first quarter of 2013 jumped 20 per cent to Dh59 million.
Islamic banking needs separate regulations and reporting standard
03:55 GMT
Central banks of the Islamic countries have been urged to adopt a separate set of regulation to reduce confusion among Muslim scholars
Dubai Financial Market
03:17 GMT
The UAE markets rose in tandem on Monday, with Dubai Financial Market gaining 0.50 per cent and Abu Dhabi Securities Exchange 0.43 per cent.

May 13, 2013

Campaign poster
18:55 GMT
Dubai tops the list of cities with the brightest future, followed by the two North American cities of Calgary and Denver
The Organization of the Petroleum Exporting Countries’
14:10 GMT
Opec crude oil output rose in April from its lowest monthly level in more than a year due to the resolution of export disruptions in Iraq and Libya and a rise in Iranian sales
Gasoline prices needed to rise in line with those of its neighbours
13:58 GMT
Libya will join its neighbours in tackling sensitive fuel market reforms and plans to do away with all subsidies within three years, Oil Minister Abdelbari Al Arusi said.
Qatar’s Premier and Foreign Minister Sheikh Hamad bin Jassem bin Jabr al-Thani
13:19 GMT
The Central Bank of Egypt (CBE) received a $3bn Qatari deposit for the purchase of Egyptian bonds on Thursday, confirmed Nidal Assar, the sub-governor of the CBE.
International Air Transport Association
12:47 GMT
The UAE Cabinet has approved an agreement between the UAE and the International Air Transport Association (IATA)
RAK Petroleum plant
11:53 GMT
RAK Petroleum’s assets include a 42.8 per cent holding in Norwegian oil company DNO International ASA.
Tadawul FX offices
10:32 GMT
The Tadawul All-Share Index (TASI) ended yesterday’s trading in the red at 7,195.17 points
Egypt Prime Minister Ahmad Qandil
10:30 GMT
Prime Minister Hesham Qandil stated that negotiations currently being held with the IMF to secure the country’s pending $4.8bn loan were ongoing
Colonel Sameer Jassim Showaiter, Mr. Mohamed Ahmed Mohamed Yateem and Mr. Silvan Varghese during the signing.
10:22 GMT
Khaleeji Commercial Bank (KHCB) has signed a three-way memorandum of understanding (MoU) with Bahrain Defence Force's Military Consumer Association (MCA) and its main supplier Glabrous International (GI).
Country will be “lucky to go past” its current oil production of about 9 mbpd by 2020
10:09 GMT
Saudi Arabia’s energy minister said the kingdom has no plans to dramatically expand its oil production capacity to 15 million barrels per day
Muscat Securities Market
06:06 GMT
Strength in global equity markets supported regional sentiment as most GCC stock markets ended Sunday in positive territory. The Muscat Securities Market general index inched up 0.20 per cent to close at 6,264.68.
The GCC states spend around $800 million annually on tobacco products
05:40 GMT
The six member countries of the Gulf Cooperation Council (GCC) are home to four million smokers
The French insurance major Axa emblem
04:40 GMT
The French insurance major Axa can lay claim to what the majority of its global counterparts with Middle East exposures cannot
Can a cheap iPhone help Apple regain its smartphone supremacy?
04:31 GMT
If persistent rumors of Apple's introducing a low-cost version of its all-conquering iPhone turn out to be correct, it will mark a turning point for the company.
Three per cent said they never even think about being a victim of fraud
04:31 GMT
One in four people surveyed in the United Arab Emirates has experienced the frustration of a credit or debit card payment being declined, because the bank incorrectly thought it was fraud
Iran has managed to make progress on different fronts, including the energy sector
04:31 GMT
At the moment, Iran has a roughly 25-percent-share of the petrochemicals in the Middle East, and is planning to increase it to 38 percent by the end of the five-year National Development Plan, said Ramezan Oladi, Director for Planning and Development at the National Iranian Petrochemical Company (NIPC).

May 12, 2013

The GCC projects industry is expected to have another stellar year in 2013
12:49 GMT
The GCC projects industry is expected to have another stellar year in 2013 as the value of contracts to be awarded is expected to reach $1.35 trillion by year-end, significantly higher than the $ 730 billion total last year.
The GCC projects industry is expected to have another stellar year in 2013.
12:46 GMT
The GCC projects industry is expected to have another stellar year in 2013 as the value of contracts to be awarded is expected to reach $1.35 trillion by year-end, significantly higher than the $ 730 billion total last year.
International Monetary Fund
12:33 GMT
The trade of the 18 countries in the Greater Arab Free Trade Area (GAFTA) grew 11 per cent in 2012 to $2.1 trillion
President Jacob Zuma addresseS the World Economic Forum plenary session on BRICS. (Photo: GCIS)
11:48 GMT
Two of Africa's biggest economies sign memoranda of understanding
The South Pars/North Dome field is the world’s largest gas field and is shared by Iran and Qatar.
11:35 GMT
Some $30 billion will be invested in Iran's South Pars gas field in the current Iranian calendar year, the National Iranian Oil Company managing director (NIOC) stated.
Islamic bonds have shown defensive quality while offering yield improvement
11:27 GMT
Islamic bonds have shown defensive quality while offering yield improvement
The exhibition will showcase the latest technology in energy management
11:15 GMT
Bahrain will host the Energy Management Conference and Exhibition 2013
Minister of Petroleum and Mineral Resources Ali Ibrahim al-Naimi addresses the audience during a lecture in The Center for Strategic and International Studies (CSIS) in Washington DC in this April 30, 2013 file photo. (AFP)
11:12 GMT
The Kingdom can reduce its dependence on oil revenues by creating a strong sovereign wealth fund (SWF), according to some experts.
Omani Students Society in London
10:55 GMT
Omani Students Society in London (OSSL) organised their second knowledge sharing programme, 'Talk of the Season'
Commerce and Industry Minister Tawfiq Al-Rabiah speaks at the Forum for Indigenization of Electrical Equipment Industry in Riyadh.
10:54 GMT
Commerce and Industry Minister Tawfiq Al-Rabiah has commended the keenness of Saudi Electricity Company (SEC) to encourage national industries through the purchase of electrical products in the Kingdom.
Kurdistan thumbs its nose once more to Federal Iraq in a long-running feud that threatens to boil over
07:40 GMT
Kurdistan thumbs its nose once more to Federal Iraq in a long-running feud that threatens to boil over
Asha 501
06:06 GMT
Nokia is preparing to launch Asha 501 across the Saudi market in July. A senior Nokia executive made this announcement as the company unveiled a new family of Asha smart phones in New Delhi.
The drop in Facebook's shares is considered the prime reason for the dip in its deal prices.
06:06 GMT
Social media giant Facebook is in talks with GPS mobile app Waze for a deal worth a whopping one billion dollars.
The shift is due to the debt problems afflicting the European Union and the Arab Spring
06:06 GMT
While they continue to reduce dependence on energy resources, GCC countries are increasingly spending locally and redirecting a greater portion of foreign investments back into the region.
The step will pave the way for qualified companies to become suppliers for Qatar Shell
05:40 GMT
Qatar Shell has unveiled new supply chain business opportunities for local companies following the agreement it signed with Qatar Development Bank (QDB) earlier this year to provide local companies and manufacturers access to new business opportunities,
Aegis Media
05:40 GMT
The appointment of both agencies will ensure Commercial Bank, one of the leading full service banks in the region, benefits from a naturally integrated approach to communications planning, beginning with the Bank launching a new campaign and re-positioning the brand.
Central Bank of Oman
05:40 GMT
The Central Bank of Oman (CBO) has mandated all banks operating in the sultanate to allocate five per cent of their total credit portfolio to small and medium enterprises (SMEs) by the end of December 2014.

May 9, 2013

World Bank Building
12:24 GMT
A World Bank report released Wednesday cautioned Jordan of a “moral hazard” phenomenon.
The role of SWFs in the global economy has only strengthened
12:15 GMT
The report represents a collection of articles prepared by KPMG specialists throughout the Middle East and provides insight into the recent trends and developments in SWF investment strategies
Feral cats crowd a boat in the hopes of receiving scraps from fishermen at a local dock (Photo by Greg Kahn/Getty Images)
12:09 GMT
The Saudi Presidency of Meteorology and the Environment department seeks to develop and activate all possible means, as well as deploy the latest technology, to protect people and properties from the elements and environmental pollution.
U.S. Senate minority leader Mitch McConnell (R-KY) speaks as Senate Republican leadership hold a press conference after their weekly policy luncheon in the U.S. Capitol building in Washington, DC. (Photo by Allison Shelley/Getty Images)
11:42 GMT
Legislation introduced by a bipartisan group of U.S. senators would block Iran's access to billions of dollars worth of foreign currency reserves.
STC Ventures Invests $3 Million in Jabbar's Ad Network ikoo
11:26 GMT
ikoo, the integrated digital marketing solution provider with the largest reach in the Middle East and North Africa [MENA], announced a major partnership with STC Ventures, backed by Saudi Telecom Company, which has invested US$3 million in the company.