Saudi Arabia is planning to invest $109 billion in its solar energy sector by 2032, which will provide a third of the country's overall energy requirement by that time.
Islamic finance is increasingly labeled as the future of finance, but the sukuk market largely remains outside of mainstream markets globally.
Bahrain has recently passed a new law to regulate labor recruitment in the Gulf country. The new regulations aim to "safeguard the rights of skilled and semi-skilled expatriates," say authorities.
Qatar is expected to have a GDP of $230 billion by this fiscal year's end.
Sharjah Airport recorded the highest level of passenger traffic on record during the first quarter this year.
Iraq must reconsider its expenditure and production of various energy sources if it wants to stabilize the country's energy situation overall and save much needed resources.
Egypt is attempting to restructure its energy subsidies "without affecting poor and low income segments," but can the new strategy work if the government is still undecided on whether or not they will raise petrol and fuel prices?
At least 26,000 tourists came to Egypt for the Easter holiday weekend in what was welcomed as a much-needed spike for the country's ailing tourism sector.
On April 12, Iranian MP Ali Marvi quoted Oil Minister Bijan Namdar Zanganeh as saying that Iran will increase its crude oil output to 5.7 million barrels per day by the end of Iranian calendar year 1397 (March 2019).
Qatar Rail has awarded one of the largest-ever “single project tunnelling and rail construction insurance” policies to a six-member consortium of Qatari national insurance companies,
From most isolated economy to 93% surge in tourism: you won't believe which country Gulf investors are flocking towards
Tourism receipts were also skyrocketing and reached $926mn in 2013 against some $400mn in 2012, according to official government figures.
Economic growth in the Gulf Cooperation Council (GCC) region will remain largely influenced by oil prices and supply dynamics in the oil industry
April 20, 2014
Singapore's National Institute of Education is set to train 3,000 Saudi school principals over the next few years.
Saudi Arabia's construction industry witnessed a record year for contracting in 2013, and 2014 promises even brighter prospects for this developing sector.
As tourists continue to flock to Jordan en masse, the Hashemite Kingdom is recording higher revenue profits than ever before.
The International Energy Agency revised its forecast for global oil demand in 2014 to 1.5 per cent which may impact further developments and investment in the sector in consequence.
Standard & Poor's has raised its outlook for several Lebanese banks in what may be the latest sign of a recovering economy in this MENA country.
Saudi Arabia ranks in the top four countries for military spending globally, according to a new report released out of Stockholm this week.
Fuelled by rising energy demand and depleting oil and gas resources, nuclear energy has gained strong momentum in the GCC, particularly in countries like the UAE.
It's contagious after all? Mecca's surroundings experiencing 'unprecedented' real estate boom in Saudi
The Kingdom’s Western Region is experiencing an unprecedented real estate boom, with billions of riyals earmarked for mega projects.
The untameable monster: experts warn Dubai against off-plan property sales given signs similar to 2008 crash
“We are not yet back to 2008 prices but in some individual projects we are. So we certainly need to monitor them carefully.”
Fuel smuggling is common across North Africa and its extent has increased in the chaotic aftermath of the Arab Spring.
April 18, 2014
The world’s biggest smartphone maker has slashed prices of the S5, which rolled out globally on Friday, and offered a gift pack worth $600,.
The US government says it is going to sell an Iranian skyscraper in New York City in favor of anti-Tehran plaintiffs.
About 34 per cent of national household heads reported that they continuously changed their mobile phones.
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.