December 1, 2016
Omran holds 51 percent of the operating company launched to develop the 64-hectare Mina Al Sultan Qaboos Waterfront and is launching the first phase of development while waiting for potential partners to come onboard.
App-based car booking service Careem plans to add 15 cities in Turkey, Saudi Arabia, Egypt and Pakistan to its current roster of 47 cities.
The Foreign Press Association has presented its newly-created Humanitarian Award to Jordan's Queen Rania in recognition of her work addressing the Syrian refugee crisis.
The Xperia XZ features an impressive camera but there are some bugs that need ironing out.
A new advertising industry association which includes brand giants PepsiCo, Emirates, Google and Unilever aims to promote ethical, responsible advertising in the Middle East.
Tunisia's International Investments Conference 2020 assembled global leaders under the theme of 'Road to Inclusion, Sustainability and Efficiency.'
Saudi Islamic banks will continue to operate in a tougher environment due to slower financing growth, but liquidity has now stabilized with the recent government injection.
The French Development Agency will provide two soft loan agreements totalling 132 million euros to support the state budget and the water sector.
Following a planned future expansion within the next three years, the Gaza plant will eventually employ 270 people, bringing the total number of direct Palestinian jobs across the West Bank and Gaza to more than 750.
Egypt's largest listed bank is in talks to sell 70-80 percent of its stake in investment banking arm CI Capital.
Oil prices jumped to a five-week high on news that OPEC will reduce production by 1.2 million bpd to 32.5 million bpd a day, in the first output cut since 2008.
November 30, 2016
Lebanon's labor ministry has made an appeal to improve recruitment agencies as it is revealed that just 441 out of over 700 domestic worker recruitment firms meet legal standards.
Construction costs have plummeted since the oil-price crash began in 2014, which led to a massive scaling back of building works, the cancelation of many projects, and contractors slashing profit margins.
The UNWTO and World Travel and Tourism Council (WTTC) have appealed to the British Prime Minister to lift the ban on flights to the Red Sea resort, adding that Egypt has taken significant measures to improve security.
Britain's Prince Andrew was in Abu Dhabi for the UAE launch of his entrepreneurship initiative Pitch@Palace alongside Abu Dhabi Crown Prince Shaikh Mohammad Bin Zayed Al Nahyan.
The Anglo-Dutch company, which has been present in Iraq for over a century, has found only limited financial benefits in recent years from its involvement in Iraq’s oil production.
The Sadara project is the largest integrated chemicals complex in the world to be built in one phase.
Intel Security presents the most challenging developments facing the cybersecurity industry in 2017.
Filtering unsuitable applicants from the pile of candidates with the use of online tools can help expedite and smoothen the applicant screening process.
A new automated job database proposed by Tanfeedh would allow employers to search and recruit qualified Omani staff instead of hiring expat labor.
Saudi Arabia's Public Investment Fund (PIF) has acquired Adeptio as part of it's strategy to boost its non-oil investments.
Proposed new measures will include imposing progressive taxes and linking the automated wage system with citizens' national identification numbers so as to distribute food subsidies based on monthly income.
November 29, 2016
Families of victims who died when a crane crashed into Mecca's Grand Mosque last year have filed five lawsuits demanding private rights.
The International Monetary Fund has warned that a tax on expat income and remittances could lower the region’s attractiveness as an expatriate destination and breach double tax agreements.
Oman plans to introduce a ‘one window' approach to visa issuance, which would reduce the labour clearance process from months to five working days in an effort to speed up the labor market.
A joint venture between Qatari contractor HBK Contracting (HBK) and China Railway Construction Corporation Limited (CRCC) has won the contract to build the 80,000 seater Lusail stadium.
As the UAE gears up to celebrate its 45th National Day on December 2, Google Maps' one billion daily users can now explore some of Dubai's world-renowned landmarks in crisp 360-imagery.
The Saudi Aramco joint venture project, which will come up at Ras Al Khair on the kingdom's east coast, is expected to begin production in 2022.
Oman is set to bypass the UAE as Iran's biggest trading partner in MENA.
Online job sites continue to be more popular and more frequently used than the rest of job search tools in the region.
While Lenovo refers to the Yoga Book as a tablet, it also has the Book Pad, AnyPen and Halo keyboard features.
Anthony Khoury, General Manager of Uber Egypt discusses the company's expansion plans and challenges of the sharing economy.
The grants will support Jordan’s efforts in addressing issues such as education, economic development, host communities, social cohesion, human rights and good governance, renewable energy, and humanitarian assistance.
Scenarios from market watchers were about as fluid as the comments coming out of preliminary OPEC talks in Vienna.
November 28, 2016
With support from Deputy Crown Prince Mohammed bin Salman, the MiSK hackathon linked London and Riyadh by live broadcast satellite to allow young British and Saudi innovators to compete to solve health problems.
Saudi Arabia has announced ambitious plans to invest $1.6 billion in its meetings, incentives, conferences and exhibitions (MICE) tourism industry.
The partnership with YNAP will see Mohamed Alabbar focus his entire online luxury retail activity in the region exclusively through the new joint venture.
The new in5 innovation centre, embedded within the thriving design community at Dubai Design District (d3), will be the third business incubator in the in5 network and will act as a catalyst for supporting industry diversification.
The Qatar-based real estate company will explore the lease of private Philippine islands for agroforestry, agro-industrial zones, energy centres, and tourist destinations.
Follow these nine simple security steps to help you stay safe as you hunt for holiday bargains.
With a little self-discipline, tracking your spending doesn't have to be as daunting as it seems.
Under a new measues being put forth to the Shura Council, the Saudization scheme looks to develop a skilled and educated workforce by increasing employment and productivity.
Scammers can easily create profiles to collect information and data or to make fake job offers; here's how to avoid getting caught in their trap.
Commercial Bank of Dubai makes a play for Millennial customers with a launch of the UAE's first online bank.
The first phase of the $1.1B Red Sea-Dead Sea Water Conveyance Project comprises the installation of a desalination plant north of Aqaba with a capacity of 80-100 million cubic metres per year of desalinated water.
Reports from BMI Research and Fitch expect Qatar’s current account will return to surplus in 2017, despite being heavily dependent on oil exports.
November 27, 2016
A stake in Zohr, one of the biggest ever gas discoveries, will raise BP's exposure to the gas market, just months after rival Shell became one of the world's biggest gas traders by acquiring BG Group.
The Honor 8 has everything you'd expect from a high-end phone at a thousand dirhams less than its rivals.
Following the commercial success of global shopping events such as Black Friday in the US and Singles Day in China, E-retailers in the UAE are offering discounts for 'White Friday'.
The new large-scale windfarm in the Gulf of Suez area will have the capacity of at least 200 megawatts of renewable electricity generation.
China’s Silk Road initiative will be the world’s largest project for global and regional trade collaboration
DP World Group chairman Sultan Ahmed Bin Sulayem is exploring potential opportunities in China's 'One Belt One Road' initiative.
Amazon is mulling a bid to acquire the Dubai-based e-commerce platform, but no final agreement has been reached so far, unnamed sources told Bloomberg.
While expats face great uncertainty over relocation and the nature of their jobs, a bad hire could mean financial and reputational damage for the company.
The Economic and Social Council’s recent report notes that the Kingdom's public sector is the largest in the world given its ratio to population, and is plagued by challenges that have an adverse impact on competitiveness.
Lebanon's budget deficit jumped to 26.8 percent of spending up to August 2016, as government revenues fail to keep up with LL 14.17 trillion in spending.
The British auction house plans to expand its footprint by opening an office in Dubai in the next few weeks, having witnessed a ten percent year on year increase in MENA buyers and sellers in the last five years.
A Monday meeting between OPEC and non-OPEC producers has been cancelled after Saudi Arabia pulled out to focus on finding consensus among OPEC members at a separate meeting on Wednesday.
Speaking at the OIC's COMCEC in Istanbul, the Turkish minister called on delegates to design specific plans and programs to achieve 25 percent of trade between OIC countries.
November 24, 2016
The new resolution outlines the framework for a compensation system for occupational injuries and diseases; rehabilitation for those affected; and the creation of a safe work environment.
Egypt marked a 68.4 percent drop in tourism revenues in the first nine months of 2016, while Turkey registered 30.8 percent fewer visitors., according to the World Tourism Organisation.
OPEC members are working on a proposal that calls for cuts for each member state by between 4 percent and 4.5 percent, with war-torn countries Nigeria and Libya getting exemptions.
The Trans-Pacific Partnership, considered the biggest regional trade agreement in the world, would eliminate more than 98 percent of customs fees and taxes on imports in its member states.
While the Lebanese government has put a freeze on new recruitment, Electricite du Liban contract workers are pressing to become full-time employees.
The acquisition of the US properties is in line with Investcorp's strategy of acquiring well-occupied, cash flowing properties in metropolitan areas with strong growth fundamentals.
The retail and technology exhibition, which kicked off on Wednesday in Abu Dhabi, features everything from transforming cars to jewellery.
Say “Hey Siri, book me a Careem” and Siri will spring into action and connect the user to the Careem app.
The failure to plan your career will lead you often into a clear cul-de-sac, and you won’t have job satisfaction or clear success, says career coach Michael Moran.
Bahrain's new wedding identity, Island Wedding, has been designed by a group of international experts from the wedding sector in order to showcase the kingdom’s main offering as a wedding destination.
The case of the demonetized Indian rupee is just one example of why sitting on stockpiles of cash is not good for your finances.
7DAYS Media said that it will publish the final edition of the printed newspaper on Thursday, December 22, 2016
November 23, 2016
The VAT refund scheme for tourists is being studied in collaboration with the Ministry of Finance in order to increase tourist expenditure at Egyptian tourist destinations and promote Egyptian products.
While lower oil prices reduced average wealth by less than half a percent, the UAE and Qatar enjoy the highest average wealth in the region.
Watching the MP4 file will lock your phone.
Ras Al-Khair industrial mining city on the eastern Arabian Gulf coast and Wa’ad Al-Shamal in the north are set to open with streamlined processes to encourage investment.
The CEO of the ADIB Egypt was the first Arab woman to lead an Islamic bank.
Plans for the oil-rich sultanate’s 2017 budget will include a new raft of austerity measures as the projected average price of a barrel of oil remains set to languish at $45 next year.
Talks between Italy's interior minister and King Salman in Riyadh focused on new initiatives in the fields of security, police training and counter-terrorism, in addition to a range of bilateral and regional issues.
Career fairs are great opportunities for meeting potential employees, but collecting and sorting paper CVs at such events can be cumbersome and lengthy.
MENA is now a bigger market for French cheese makers than both China and North America, with the Middle East now accounting for $400 million of its total $8 billion global exports.
Siemens will supply Qatar's new Hamad Port with fully-integrated E-House substations, equipment and and power management systems.
Egyptian taxi drivers called on the cabinet earlier this month to adjust fares in accordance with the recent hikes in energy and fuel prices.
Jordan has revealed its national strategy for 2018-2020 to raise the low rate of financial inclusion among adults in the Kingdom, standing at 24.6 percent.
November 22, 2016
Kuwait is conducting feasibility studies to attract foreign investment for the ambitious development of the islands of Boubyan, Failaka, Warba, Miskan and Awha.
Around 30 Ghanaian domestic helpers tested positive for HIV in the first seven months of 2016, despite bringing health certificates claiming to be HIV-free.
Egypt's Central Bank abandoned its currency peg of 8.8 pounds to the US dollar on Nov. 3 in a move it hopes will unlock foreign currency inflows and end a black market for dollars.
The Emirati construction baron believes that a single GCC currency unhinged from the dollar and a stronger Gulf union will help shelter Gulf economies from uncertainty.
In a bid to boost the flow of credit to productive sectors, the specific provisions of restructured loans have been relaxed from 15 percent to 5 percent for 2016.
Alibaba Cloud will offer a portfolio of services to address the increasing demand for affordable and secure cloud computing in the Middle East.
Saudi Arabia plans to establish a national program to optimize water and energy consumption, as part of its plan to modernize its public sectors and diversify the economy.
Instagram's Live Video works in the same way as Facebook’s live streaming, while the disappearing photos and video feature takes a page from Snapchat's book.
The Institute of International Finance has named Lebanon as one of 22 countries out of the 25 emerging markets slated for increased net capital inflows this year.
Qatar offers a variety of job opportunities for locals and expats, but getting noticed by an prospective employer requires effort.
OPEC experts have recorded some progress on the first day of a two-day meeting to nail down details of their plan to cut oil output, with some expressing optimism about the prospect of a final deal.
The Standing Committee for Commercial and Economic Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC), a major economic body for Islamic countries, is holding its 32nd meeting in Istanbul.
November 21, 2016
Under the fourth phase of its new visa policy, Bahrain has revealed a new single entry visa and one-year multiple re-entry e-visa for citizens of 114 countries.
In ASDA’A Burson-Marsteller's Arab Youth Survey 2016 just 54 percent of young Arabs cited “climate change and the environment” being of concern, compared with 77 percent of respondents for “the rise of Daesh”.
Share prices of Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), and Union National Bank (UNB) dropped on reports that they were considering a merger.
The $360M sugar plant facility will be a welcome asset in light of Egypt's sugar deficit.
Increased inspections of compliance with new Saudization rules have led to the closure of over 1000 mobile phone shops.
The forum seeks to measure the confidence of investors operating in the Jordanian market through three aspects: the Jordanian currency and monetary system, the real economy, and the Amman Stock Exchange.