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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.
11:46 GMT
Benchmark oil for June delivery gained 69 cents to close at $96.71 a barrel on the New York Mercantile Exchange.
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.
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.
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.
06:00 GMT
A good part of the funds would be invested towards the development of the emirate’s Western Region.
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).
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
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.
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.
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.
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.
11:45 GMT
The arrival of PayPal promises to create a new landscape for online shopping.
10:46 GMT
The UAE wants more of its youth to be entrepreneurs.
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.
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.
05:40 GMT
Priding itself as the gateway between Asia and Europe, Turkey is successfully attracting Gulf nationals to its real estate sector.
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.
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.
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.
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
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.
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.
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.
12:34 GMT
Saudi Arabia's nonoil exports to the Arab countries had increased five-fold compared to the past seven years.
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.
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.
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.
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.
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.
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.
05:00 GMT
While regional advertisers are aware that the industry is going 'mobile’, spend on digital advertising is still low.
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
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.
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.
12:57 GMT
Saudi banks continue to support the macroeconomic conditions by providing the necessary financing for local businesses.
12:45 GMT
The Middle East is facing a double dilemma over the global competitiveness for oil in the future.
12:41 GMT
When Lebanese graduates begin looking for jobs, what does it actually mean to employ personal connections to improve employment chances?
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.
11:40 GMT
“Expect to hear a lot of noise on new search products like Google Now and voice search integration.“
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.
10:23 GMT
The firm in question has been keeping employees’ mobile phones under lock and key during working hours.
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.
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.
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
13:57 GMT
Saudi Arabia’s real GDP is estimated to have expanded 6.8 percent in 2012.
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.
12:51 GMT
The private placement amounting to 5.28 per cent shareholding stems from the bank’s overall capital augmentation plan.
12:36 GMT
Stocks seem to be rising for no apparent reason.
11:55 GMT
The Public Works Authority (Ashghal) will invest $30 billion in building and infrastructure projects in the next five to seven years.
11:36 GMT
Nine percent is the equivalent of adding USD 10 billion to the Bahraini economy every year
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.
10:27 GMT
Revenue from the sale of hydrocarbons during the period was Dh557 million ($152 million).
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.
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
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.
11:53 GMT
Kuwait’s GDP has been forecast to grow 1.1 per cent in 2013 as oil prices and production stabilises.
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.
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.
09:58 GMT
Air Arabia said on Monday its net profit for the first quarter of 2013 jumped 20 per cent to Dh59 million.
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
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
18:55 GMT
Dubai tops the list of cities with the brightest future, followed by the two North American cities of Calgary and Denver
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
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.
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.
12:47 GMT
The UAE Cabinet has approved an agreement between the UAE and the International Air Transport Association (IATA)
11:53 GMT
RAK Petroleum’s assets include a 42.8 per cent holding in Norwegian oil company DNO International ASA.
10:32 GMT
The Tadawul All-Share Index (TASI) ended yesterday’s trading in the red at 7,195.17 points
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
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).
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
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.
05:40 GMT
The six member countries of the Gulf Cooperation Council (GCC) are home to four million smokers
04:40 GMT
The French insurance major Axa can lay claim to what the majority of its global counterparts with Middle East exposures cannot
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.
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
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
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.
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.
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
11:48 GMT
Two of Africa's biggest economies sign memoranda of understanding
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.
11:27 GMT
Islamic bonds have shown defensive quality while offering yield improvement
11:15 GMT
Bahrain will host the Energy Management Conference and Exhibition 2013
11:12 GMT
The Kingdom can reduce its dependence on oil revenues by creating a strong sovereign wealth fund (SWF), according to some experts.
10:55 GMT
Omani Students Society in London (OSSL) organised their second knowledge sharing programme, 'Talk of the Season'
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.
07:40 GMT
Kurdistan thumbs its nose once more to Federal Iraq in a long-running feud that threatens to boil over
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.
06:06 GMT
Social media giant Facebook is in talks with GPS mobile app Waze for a deal worth a whopping one billion dollars.
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.
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,
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.
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
12:24 GMT
A World Bank report released Wednesday cautioned Jordan of a “moral hazard” phenomenon.
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
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.
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.
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.