The Israeli attacks on Gaza drove the Palestinian economy of Gaza and the West Bank into its first contraction since 2006, the International Monetary Fund said Thursday.
Opec's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers.
As a net oil importer, Jordan’s widening trade deficit in the first nine months of 2014 was anticipated to decelerate in the last quarter of the year on account of lower oil prices.
King Salman ordered give two months’ salaries to all government employees will be processed and the money dispersed in three weeks.
A lavish payout to public employees ordered by Saudi Arabia’s new King Salman will help to sustain the kingdom’s consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.
2014 was the deadliest year for commercial airlines in almost a decade.
Qatar Airways on Friday said it had purchased almost 10 percent of IAG, parent of British Airways and Spanish carrier Iberia.
Saudi Arabia's new King Salman ordered a cabinet reshuffle on Thursday but kept in place veteran Oil Minister Ali al-Naimi, Finance Minister Ibrahim Alassaf.
January 30, 2015
First it was the US and shale, but now, Saudi Arabia's toughest oil contender is emerging right next door
“This price war is not just between Saudi Arabia and the U.S., it’s also intra-OPEC,” said Seth Kleinman,
The UAE currently uses drones for official purposes such as to deliver documents and packages to its citizens as part of its efforts to upgrade government services.
A Brotherhood/Al-Jazeera-driven phobia: a new Qatari-funded TV channel in Egypt is sparking major controversy
The Qatari-funded channel, Al-Araby Al-Jadeed, was launched from London on Sunday, a highly symbolic date as it coincided with the fourth anniversary of the 25 January Revolution in Egypt.
January 29, 2015
Facing grim economic prospects at home, desperate young Egyptians are seeking jobs in Libya, a country sliding into lawlessness.
Dubai Municipality has asked supermarkets to provide one cashier specifically made for purchasing these foods due to several complaints made by Muslims in the UAE.
Casino du Liban’s board of directors is reassessing its decision to lay off 191 employees.
Facebook posted a fourth-quarter revenue of $3.85 billion up 49 per cent from $2.59 billion in the year-ago period.
Textual and visual representations of the Syrian refugee crisis have flooded international media outlets and the press releases of aid organisations since the Syrian uprising first erupted on March 2011.
Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years.
Because they're employees, not servants: domestic workers in Lebanon establish unprecedented labor union
A historic event in the struggle of male and female workers in Lebanon happened on January 25
What if the psychological concepts that underpin such apps could be harnessed to the benefit – rather than the detriment – of the employer in question?
Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra.
Etihad Airways will offer jobs to more than 6,000 UAE nationals over the next five years as part of its UAE national development strategy, the airline said.
A total of 27 IPOs were issued in 2014, raising a collective total of 11.5 billion US dollars, almost four times the 3 billion US dollars that was raised in 2013 from 25 IPOs.
Dubai-based mall operator Majid Al Futtaim signalled on Tuesday it expects the emirate to remain a magnet for shoppers, announcing plans to double its business within five years.
Despite the high price, it is not the most costliest phone in the world.
January 28, 2015
Overestimating the selling price for a property is one of the oldest tricks in the real estate agent’s book.
The price of gas in Israel is currently linked to the US and Israeli consumer price indexes plus 1%, for eight years.
Iraq has offered discounts to European purchasers of its oil in February, similar to those offered by Saudi Arabia, amid signs of intense competition between OPEC’s two largest producers.
Bureaucratic wrangling and ever changing regulations are frustrating what could be Israel's natural gas revolution.
Jordan will sign an agreement to purchase natural gas from Cyprus before the end of June this year, according to a senior government official.
The company sold 74.5 million iPhones in its fiscal first quarter ended Dec. 27, while many analysts had expected fewer than 70 million.
Late King Abdullah bin Abdulaziz, the sixth king of Saudi Arabia, had a profound impact on the Saudi economy and oil policy.
Qatar Investment Authority (QIA) and partner launched a 350 pence-a-share offer direct to Songbird shareholders in December, hoping to add a financial district rivaling the City of London to landmarks already in its portfoli
“What’s happening right now is not a case of the property market bubble bursting ... but of deflating gently.”
Saudi Arabia claims to have one of the world's most tech-savvy populations, but can it fast track diversification?
Saudi Arabia's new leadership will push forward efforts to diversify the growing but oil-dependent economy, while easing procedures for investors.
Oman Ministry of Housing has signed three agreements which will help boost aquaculture production in the country from 353 tons (2013) to 7,330 tons annually.
A staggering 84.1 percent of respondents working in HR departments conduct reference checks prior to hiring eligible candidates.
Qataris emerged the largest buyers of the property in neighbouring Dubai, UAE, with a per capita investment of Dh9.37 million ($2.55 million).
As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.
Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms.
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company.
January 27, 2015
Egypt's pound weakened to 7.43 per dollar from 7.39 at a central bank auction on Monday, the weakest level it has been allowed to reach.
A rekindled attraction: Qatari Diar receives long-awaited approvals for major Egyptian tourism project
Tourism Development Authority (TDA) has received approvals from the Egyptian Ministry of Defence, allowing Qatari Diar (QD) to implement its tourism project.
Tuk-tuk prices increased due to the decision to ban importing tuk-tuks to provide $800m and reduce theft and looting crimes carried out by some tuk-tuk drivers.
“With immediate effect, we have suspended all flights to Baghdad. The safety of our customers and employees is always our first priority,” Etihad Airways said in a statement.
Betting on a self-fulfilling prophecy? Oil prices may have hit floor, can rise to $200- says OPEC top chief
Oil's decline in 2014 was its second-biggest ever, after the collapse in 2008 which followed the record high.
“These drones are available everywhere now and people can easily buy them, but people have no awareness.
Cost of travel in 2015 set to get cheaper, thanks to sharp drop in fuel prices
The amount of bad loans that state-run Ziraat Bankası had at the time was almost TL 2.5 billion (approximately $1 billion), nearly four times the amount needed to establish a private bank.
Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap in new currencies will be signed in the near future.
The conclusion, in Ilves's words: "Basically nothing is safe."
Egypt can expect economic growth "easily north of 4 percent" in fiscal year 2014-15, which ends in June, boosted by rising confidence and a windfall from lower oil prices.
The ratio of engineers to the population in Jordan is among the highest globally, Jordan Engineers Association (JEA) President Abdullah Obeidat said in a statement released Sunday.
January 26, 2015
Dubai's flagship airline, Emirates, is studying whether to cut the fuel surcharge it passes on to customers to reflect recent drops in oil prices, its president has been quoted a saying.
Can an agenda driven small vocal minority with social media savvy derail a trillion dollar industry?
Kuwait-based Al-Nasriyah Company has signed an agreement with Iraqi National Investment Commission (NIC) for the development of a new cargo airport in Diwaniya governorate of Iraq at a cost of $1.35 billion.
Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year.
No one has a problem in agreeing that Dubai’s property sales and value gains have taken a bit of a softening in the last six months.
Business has been booming recently, albeit with the recent oil price crash the best times are probably now over.
Gold climbed towards a five-month high on Monday as an electoral win by Greece's anti-austerity party sparked fears of renewed instability in Europe.
Iran’s Government Spokesman Mohammad Baqer Nobakht says the administration can run the country with oil revenues below $40 billion in the next Iranian calendar year.
Egypt’s government has sent invitations to more than 6,000 businessmen and 120 countries to participate in the summit.
January 25, 2015
Iran ranked first in the Middle East and 14th in the world in terms of steel production in 2014, the World Steel Association (WSA) said in a recent report.
The passing of King Abdullah in the early hours of Friday led to speculation that a leadership transition could result in a change to the country’s oil policy and strategy.
Germany has decided to stop exporting arms to Saudi Arabia, the German newspaper Bild am Sonntag said on Sunday, citing government sources as saying the kingdom was “too unstable”
At the offices, dozens of women, most wearing headscarves, are busy at work, one group entering data on global trademarks for a company in the Netherlands.
The Yokne'am-based company, Amazon's first Israeli acquisition, is building an innovative semiconductor platform.
Mixed signals: why King Abdullah's passing could not have come at a worse time for Saudi's oil sector
King Abdullah's death could not have come at a worse time for Saudi Arabia's vital oil sector as the absolute monarchy seeks to reassert its leadership in a fast-changing industry.
Dubai real estate giant Nakheel, hit badly during the global debt crisis, said Wednesday its profits surged 43 percent on year in 2014 to $1.0 billion.
He said such recreational drones pose a serious risk to the safety of air navigation as well as passengers, he said.
The crackdown will be the largest operation ever, conducted by the authorities in Kuwait, an official said.
The proposed Arab Stabilisation Plan, ASP, would build a regional framework to promote infrastructure investment and create jobs.
January 24, 2015
Oil prices rose on Friday after the death of Saudi Arabia's King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.
Saudi Arabia’s new king is expected to focus economic policy on creating jobs and multibillion dollar infrastructure projects to prevent tumbling oil prices from causing social tensions or undermining business confidence.
Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role.
January 22, 2015
“Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this,” Abdul Mahdi told a conference in Kuwait.
About 2.5 million expatriates are either illiterate or have little or no education at all, Makkah Arabic daily reported on Wednesday.
Almost 44 per cent of CEOs in the Middle East said that they are ‘very confident’ that their company’s revenues will grow in the next 12 months,
Television has fared positively in an increasingly digital Middle East, but should be conscious of the ever-changing digital environment and the power it can provide in advancing regional television, said an industry analyst, commenting on a new report.
Iran has entered into two partnerships with Chinese authorities in a move to set up an industrial park in the southern port city of Jask as well as expand cooperation in the agricultural sector, according to reports.
Rising from the sands on partly reclaimed land and jutting into the turquoise waters of the Arabian Gulf, this is Abu Dhabi’s cultural masterpiece in the making.
Hundreds of low-income Emirati families caught up in debt or unable to sustain their needs will be given new accommodation and have their needs addressed.
Losses from lower oil exports should sap up to $300 billion from economies of the Gulf Cooperation Council, the International Monetary Fund said on Wednesday.
January 21, 2015
Turkey's mutual trade volume with Israel reached over $5.6 billion in 2014, representing a nearly 50 percent rise over 2009 despite lingering diplomatic tension between the two.
Iraq and Turkey have agreed to build a new natural gas pipeline, technical analysis on which will commence soon, a report said
Alderley, a leading engineering company operating in the oil, gas, petrochemical and water industry, has won a contract to supply nine oil metering systems and small volume provers for a project in Saudi Arabia
Saudi Arabia is delaying by eight years its target of completing a clean-energy program that includes a $109 billion solar power project.
Organisers said the show has grown by four percent this year and was filled to capacity.
The price of OPEC's basket of twelve crudes stood at US$43.04 a barrel on Tuesday, compared with US$43.87 a barrel the previous day, according to OPEC Secretariat calculations.
Emirates was the UAE’s most positively perceived home-grown brand in 2014, according to a YouGov ranking.
The UAE ranks as the number one economy in the Middle East in attracting and retaining talent, according to the Second Global Talent Competitiveness Index released on Tuesday.
In a period of worsening employment figures and slower growth, as well as widening global income inequality.
With 1.35 billion users of its Internet social network, Facebook would rank as the world’s second-most populous nation if it were a country.
Oil prices have fallen by almost 60 per cent since June, crashing on worries over global oversupply and weak demand in a faltering world economy.
“The country’s period of miraculous break-neck growth is over, but let’s get over it.”
Brent crude oil prices steadied around $49 a barrel on Tuesday after the International Monetary Fund cut its forecast for global economic growth in 2015 implying lower demand for fuel.
January 20, 2015
Saudi Arabia can cope with low oil prices for "at least eight years", Saudi Arabia's minister of petroleum's former senior adviser has told the BBC.
The Arab Spring's success story: what will it take for Tunisia to unlock its full economic potential?
Four years after Tunisia sparked off the Arab spring uprisings, the country is seen as a rare regional success story, but its prospects hinge on it deepening reforms and attracting foreign investment.
A section of the channel Egypt is building parallel to the Suez Canal suffered leaks in the early hours of Monday, causing no injuries.
Qatar’s emir will attend an economic summit due to take place in Egypt in mid-March, sources from both countries said on Monday, in a sign of easing political tension between the Arab states
Tobacco consumption in the region is notoriously high. Smoking is everywhere. But who's running this powerful industry?