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March 26, 2015

Among other precious metals, platinum was up 0.6 per cent at $1,153.25 an ounce, while palladium was up 1 per cent at $770.39 an ounce.
19:00 GMT
Gold rallied to a 3-1/2 week high on Thursday and silver rose nearly 3 per cent as escalating tensions in the Middle East knocked stocks.
Don’t be lured by a cheap rate, which could be a sign of a knock-off product or poor quality and service.
18:53 GMT
Whether you’re buying a house or a new gadget, shopping around is always recommended
Brent crude oil shot up nearly 6 percent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen
12:20 GMT
The strike against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of Middle East oil shipments
Dubai’s rentals remain stuck on a high.
11:07 GMT
Dh80,000 won’t get you far when it comes to finding a two-bedroom apartment in Dubai.
Chairman of Abu Dhabi Airports, thanked Douglas in Wednesday’s statement for his “outstanding service” and “hard work” as Chief Executive
10:34 GMT
Chairman of Abu Dhabi Airports, thanked Douglas in Wednesday’s statement for his “outstanding service” and “hard work” as Chief Executive
Medical student Nadiah Jowhar has no objection in making a man with a blue-collar job her life’s partner provided he is making a decent earning.
07:57 GMT
Some Saudi women look down at the idea of marrying a man practicing trades such as mechanic or electrician, but others believe that anyone earning money in an honorable work is good enough.
The ‘Qatari Leadership and Talent’ Summit will explore how employers and the country itself can achieve this major challenge.
07:49 GMT
If Qatari nationals are to fill all of the strategic roles within the country, then nearly 80 per cent of Qataris need to develop leadership skills.
But after gaining 100 per cent support for the plan, Dubai World’s lawyers applied to withdraw the application during a court hearing last month.
07:43 GMT
After gaining 100 per cent support for the plan, Dubai World’s lawyers applied to withdraw the application during a court hearing last month.
The private sector in both countries must look for available investment opportunities in Egypt and Mexico,
04:55 GMT
The summit had showed how much Egypt can cooperate with Mexico and Latin American states, said the Ambassador of Mexico to Cairo Jorge Alvarez Fuentes.
Turkey may re-encounter risks seen in the past, global rating agency Fitch has said.
04:55 GMT
“The issue is to what extent their replacements are perhaps more pro-growth than the current team has been,” Paul Rawkins, a senior director in Fitch's sovereign group, said.
The industrial city will house female run businesses and factories and will help push up female employment rates
04:55 GMT
Saudi Arabia has announced plans for an industrial city in Jeddah solely dedicated to women, local media reported.

March 25, 2015

Last month the Lebanese Army received a shipment of 30 tanks and 12 howitzers from Jordan.
17:41 GMT
Negotiations for an arms deal between Lebanon and Russia has been disrupted due to the EU sanctions on Moscow over the Ukraine crisis, local daily As-Safir said Tuesday.
"Everybody gets a little more imaginative, because they need to," says Hans-Christian Freitag, vice president of technology for the drilling services company Baker Hughes.
17:39 GMT
Companies are leaning on new techniques and technology to get more oil out of every well they drill, and furiously cutting costs in an effort to keep US oil competitive with much lower-cost oil flowing out of the Middle Eas
Youssef said that Egyptian diplomacy has been working on enhancing its relationship with Africa, and that Egypt is "launching" a new stage with its African neighbours.
15:08 GMT
Egyptian experts are divided in their reactions to Egypt, Sudan and Ethiopia on Monday signing a declaration of principles over Ethiopia building the Renaissance Dam on the Blue Nile, the Nile's largest tributary.
The new Jaguar XF’s dynamic, coupé-like design is formed around Jaguar’s aluminium-intensive architecture.
15:00 GMT
British car-maker Jaguar has launched its new Jaguar XF compact sports saloon during a dramatic ‘high-wire’ water crossing.
Moody's sees a fiscal deficit in 2015 lower than the 2014 deficit in Israel, which was 2.9% of GDP.
14:31 GMT
International rating agency Moody's predicts that the new government in Israel led by Benjamin Netanyahu, still in the process of formation, will last longer than the outgoing government.
"Turkey is emerging as a future leading jewelry manufacturer, and the connection between us is strategically important."
14:03 GMT
The Israeli diamond industry recognizes the enormous potential of Turkey, and plans to help it establish an advanced diamond industry, sources inform "Globes."
“The whole purpose of the EU sanctions is to leverage pressure on the Iranian government to come to an agreement in relation to nuclear proliferation.”
13:49 GMT
The European Union is set to put 40 Iranian shipping firms back on a list of sanctioned groups in a blow to the Islamic Republic’s transport sector which has sought an easing of trade restrictions.
As of 2013, Greece is the 13th largest economy in the 28-member European Union.
12:22 GMT
With an economy larger than all the Balkan economies combined, Greece is an important regional investor.
There is no denying the tremendous potential to be realised from choosing a multi-pronged approach to harnessing solar energy.
12:18 GMT
Despite the impressive numbers, the world is nowhere near leveraging the full potential of sunlight because of two principle reasons.
 Samsung’s sixth-edition flagship smartphones — Galaxy S6 and S6 Edge — which was launched in Dubai on Tuesday, could be decisive for the company.
11:58 GMT
Apple became the number one smartphone vendor in the fourth quarter of last year by overtaking Samsung, which was the leader since 2011.
39% of professionals in the Middle East feel that the hospitality industry is one that is attracting top talent
11:34 GMT
Five regional employers were asked to determine the most important quality they look for in a candidate when making a hiring decision.
Jordan said Tuesday it has signed a framework agreement with Russia for the construction of the first nuclear power plant in the kingdom at a cost of $10 billion (9.2 billion euros).
10:49 GMT
Due to be completed in 2023, the project will be 49 percent financed by Moscow.
The testimonies claim that these migrants worked an average of 66 hours per week, lived as many as eight to a room, and operated in “difficult even dangerous” conditions and in “stifling heat”.
08:04 GMT
French construction giant Vinci vigorously denied allegations it had violated the rights of migrant workers helping to build stadiums for the 2022 World Cup in Qatar

March 24, 2015

Food inflation slid further in January, as international food inflation continued to decelerate said NBK.
19:49 GMT
Kuwait consumer price inflation continued to slow in January, while core inflation remained steady

Top-end hotels look set to profit from this trend with over a third of MENA residents usually staying in luxury hotels when traveling for leisure.
19:44 GMT
According to the latest YouGov report, the top three luxury holiday destinations for MENA residents are UAE (14%), Italy (10%) and Turkey (5%).
In the past 15 years, the global economy was defined by rising commodity prices, zero interest rate policy, and a weak US dollar
19:34 GMT
A V-shaped recovery in oil prices is unlikely and Brent will average $52 per barrel in 2015 and $58 per barrel in 2016, a report said.

The past weeks have shown that Riyadh was not waiting for a bigger market share to come its way, but was proactively managing the situation.
19:30 GMT
When Saudi Arabia's oil minister Ali Al-Naimi says he does not want the kingdom to lose market share anymore, he really means it.

At the same time last year, the current account deficit stood at $866m.
19:23 GMT
Egypt ran an overall balance of payments deficit of $1bn for the first half of the 2014/15 fiscal year, compared to a surplus of around $2 billion in the same period the year befor.
The emirate, which is issuing sukuk with an ijara structure, has garnered orders worth about $2.5 billion, an earlier document showed.
19:18 GMT
The UAE emirate of Ras al-Khaimah has launched a $1 billion, 10-year sukuk that will price later on Tuesday, a document from lead arrangers showed.
The unemployment rate among Saudi citizens was 11.7 per cent last year, official data shows
19:15 GMT
Saudi Arabia is tightening a crackdown on illegal foreign workers in the kingdom, giving the Ministry of Labour more powers including the right to distribute financial rewards to inspectors who turn up violations.
In the long run this could spur the construction and real estate industries, as well as the overall economy.
14:39 GMT
Most Saudi real estate-related shares fell in early trade on Tuesday after the cabinet on Monday approved a proposal to tax undeveloped land in urban areas.
The survey also found that Westerners, on average, earn 6.96 per cent more than Arabs, while Arabs pocket around 20.04 per cent more than Asians.
13:32 GMT
Average wages across the GCC rose last year, however, Arab expat salaries rose the least among racial groups.
Sources close to the project said all the basic infrastructure work has been completed and concrete columns are being erected.
13:25 GMT
“With the completion of the the expansion work, the mosque will comfortably accommodate about 1.6 million worshippers."
The canal itself is currently undergoing an expansion to allow two-way traffic that is scheduled to open in August.
09:54 GMT
Egypt's president has issued a decree to offer new bonds to the public to generate revenue to develop the Suez Canal area.
 Forty-eight per cent of the family business agreed that making the business more professional is a key challenge over the next five years.
09:29 GMT
Skilled staff recruitment is a significant challenge for the Middle Eastern family businesses with 73 per cent of those saying are interested to hire the right skills and talent in the coming five years, according to a PwC survey released yesterday
The Ethiopian 6,000 megawatt dam, set to be Africa's largest, is expected to be fully completed by 2017.
08:58 GMT
Egypt, Ethiopia and Sudan have signed a declaration of principles on Monday, in a critical step towards resolving a four-year dispute over Nile water sharing arrangements among Basin countries.
A handful of WhatsApp users have managed to activate the voice-calling feature in UAE via Wi-Fi.
08:38 GMT
A report by Emirates 24/7 said the two major telecom operators - Etisalat and Du blocked WhatsApp voice calls for UAE subscribers.

Each institutional fund will now belong to a ministry or other body related to its function, and be chaired by the minister.
08:27 GMT
The announcement was the latest in a string of steps to reorganise the government's economic policy apparatus since King Salman assumed the throne in January.

March 23, 2015

The economy has been reeling since December, when production fell to around 350,000 bpd as the Fajr Libya militia alliance, which includes Islamists, attacked oil terminals in the east.
20:48 GMT
The battle for Libya's oil wealth has taken on new dimensions as rival governments lay claim to the National Oil Company (NOC), further deepening divisions in the volatile North African nation.
 In some stock markets such as Qatar, Islamic investors with few options to choose from can reward sharia-compliant firms by piling into their shares.
20:40 GMT
Across the Gulf, companies that have traditionally used conventional finance are considering whether to "go Islamic",
The “victim” mentality is only detrimental to career growth, so ask yourself if you really are being overlooked or simply unhappy with life in general.
20:26 GMT
One of the most dangerous mistakes you can make at work is unknowingly getting in the way of your own success through self-defeating thought patterns.
“We’re not against shale oil. We welcomed shale oil but it’s not fair for high-cost producers to push low-cost producers out of the market.”
20:21 GMT
Oil prices won’t rebound to $100 a barrel because increased prices would draw more shale and other output from higher-cost producers to the market.
A visiting French official Monday reminded Lebanon that it could not benefit from $181 million worth of loans if the country fails to elect a president before the deadline.
19:55 GMT
A visiting French official Monday reminded Lebanon that it could not benefit from $181 million worth of loans if the country fails to elect a president before the deadline.
Dubai wants to keep adding more hotel rooms until 2020.
14:52 GMT
The popular attractions in Dubai are still attracting hundreds of visitors each month, but there aren’t as much tourists checking into hotel rooms.
The ability of Rolls Royce customers to customize their cars has also been a factor in the car’s desirability
14:44 GMT
“The Middle East is the world’s best bespoke region.”
Yet as competition intensifies, healthcare providers are battling to retain and even attract medical professionals needed to keep pace with their growth.
14:37 GMT
With a number of hospitals and clinics starting up in the GCC, the war for medical talent has begun.
Following an overall decrease in average salary of two per cent in our 2014 survey, pay packets returned to form this year with significant growth seen across the board.
14:29 GMT
Average salary across all countries, positions and racial groups in our list rose 7.88 per cent, increasing from $10,392 a month to $11,211 a month.
It announced on Tuesday that internet users will be able to send money to each other without having to step into a bank or a money exchange outlet.
10:13 GMT
Sending money will soon be as easy as posting a photo on social media or texting a friend, free of charge.
Abu Dhabi is striving to establish itself as a regional hub for international productions and in a bid to woo producers.
09:43 GMT
The luxury aircraft will be used to promote the upcoming action flick, ahead of its launch in April.
However, they emphasize that banks are ready to deal with any law passed by the Lebanese Parliament in the future.
08:31 GMT
A leading Swiss banker told his Lebanese counterparts that the days of banking secrecy are over, urging the lenders to prepare their clients for this inevitable outcome.
“The super-priority visa service offers another option for tourists, business people and students who need to travel to the UK at the last minute.”
08:10 GMT
The United Kingdom will offer a super-priority visa service at its application centres in Abu Dhabi and Dubai from March 23.

March 22, 2015

The Bank of Israel also recently implemented measures to prevent “black money” from lying in Israeli bank accounts and causing legal and reputational risks for the Israeli banks
17:37 GMT
In Britain, the mix of politics, the upcoming elections, the budget deficit and public pressure has provoked a whirlwind of controversy around the issue of tax avoidance and tax evasion
The firm’s new project in Egypt has also attracted strong interest from local and international investors, according to Terra Sola’s Chairman David Heimhofer.
17:25 GMT
Valued at $3.5 billion, the project will provide 2,000 megawatts (MW) of solar energy in the country, the statement added.
The move comes as Airbus steps up efforts to boost sales of the plane, which has not found an airline customer since 2013.
17:16 GMT
Airbus has increased the standard number of seats in the brochure for its A380 superjumbo to 544, the company said on Friday.
Sohar Port is located on the fringes of a regional market flooded with container ports.
16:57 GMT
If all goes to plan, Oman will transform into a major industrial and logistics centre with much of the country’s imports and exports passing through Sohar.
The Apple Watch is due to go on sale on April 24 and will range in price from $350 to $17,000 for an 18-karat gold model.
16:06 GMT
The flurry of technology deals luxury watchmakers announced this week to tackle the Apple Watch threat.
Makdessi stressed that some of the TV stations which are affiliated with certain political parties are directly funded by these parties to compensate for the deficit.
16:00 GMT
A decline in annual advertising revenues in 2014 has resulted in losses of $50 million for television stations in Lebanon.
He also repeated that Saudi Arabia had no political motives in its oil policy.
15:54 GMT
Saudi Arabia’s OPEC governor Mohammed al-Madi said on Sunday that he believed it would be difficult for oil to reach a price range of $100-120 per barrel again.
Some of the clients who had been duped into buying property in Cyprus had filed lawsuits against the unscrupulousbrokers after discovering they received misleading information.
12:14 GMT
A number of dubious real- estate brokers have been persuading Lebanese nationals to purchase property in Cyprus based on the premise that they would obtain a residency permit after a certain period of time.
Russia will provide enriched nuclear fuel for the reactors for the first 10 years after which Jordan has the option of whether to buy nuclear fuel from Russia or any other market.
12:00 GMT
Jordan and Russia will sign an intergovernmental agreement before the end of this month in which the two sides stress commitment to supporting the country's first nuclear power plant.
In January, Wallstrom tweeted criticism of Saudi Arabia’s flogging of human rights activist blogger Raif Badawi, calling it a “cruel attempt to silence modern forms of expression”.
11:51 GMT
Saudi Arabia has refused to issue any business visas to Swedes, Stockholm’s Foreign Ministry said on Thursday.
He added the Ministry of Labor would not take any international decisions without the recommendations of the Cabinet of Ministers.
11:38 GMT
The private sector of Saudi Arabia and the Gulf countries signed an alliance to tackle the problems faced in the recruitment of housemaids.
Nevertheless, the world's largest gas exporter is so wealthy that economists think it will be able to keep spending heavily.
11:26 GMT
Qatar is proceeding with planned economic development projects despite cheaper oil and is prioritising those related to health, education and transport
Sometimes, you wish there were six of you to finish all your work in one stretch.
09:01 GMT
It’s quite difficult to manage your time effectively at work, with so many tasks at hand and many more distractions.
Because Jordan’s public debt remains very high, there is a need to steadfastly adhere to the planned public sector adjustment.
04:55 GMT
The completion of this review would allow for the disbursement of about $200 million/
 But to make this success a turning point, it must be followed by a broader, more transparent, and more detailed discussion of the coming phase.
04:55 GMT
This success places a heavy responsibility on the government, and all of Egypt, to turn the programs, agreements, and pledges made during the conference into facts on the ground.

March 19, 2015

He added that the budget was "disconnected" to oil prices.
23:40 GMT
Iran has approved its budget for the next fiscal year with oil accounting for just a quarter of revenue after a global fall in crude prices, local media said Tuesday.
US-based social networking companies such as Facebook and LinkedIn have already established offices in Dubai to tap into the growing social media usage in the region.
22:15 GMT
Microblogging site Twitter will soon open an office in Dubai to improve user experience and tap in to the regional markets.
It all started when the four women separately submitted applications to the US embassy in Amman for a women empowerment programme called “Women’s role in leadership”,
22:08 GMT
Dubbed “Shecab”, the project entails providing taxis for women only and for their families in the Kingdom/
The job creation and hiring scenario in 2015 also look better in comparison to 2014,
22:05 GMT
If surveys were to be believed, the majority of employees in the Gulf region received a salary increase in 2014/
Whether this will prove the right moment to open the Tadawul to foreign ownership is less clear, nor whether anybody will be quick to buy if they have the option.
14:25 GMT
The opening of the Saudi stock exchange, or Tadawul, to foreign direct investment this could end up being the worst timed launch of a major stock market initiative since the Nasdaq Dubai was formed in 2008
Lower fuel prices that slightly eased RJ's finances in 2014 were insufficient to offset the negative trends and a 3 per cent drop in passenger numbers
13:10 GMT
Royal Jordanian (RJ), the national airline of Jordan, has reported a deeper yearly net loss of JD39.6 million ($55.9 million), hit by regional instability.
Dubai’s index dropped 3.6 percent to a 10-week low of 3,408 points. All major stocks fell sharply and only a handful of small-caps closed higher.
12:11 GMT
Gulf stock markets fell in panic sell-offs Wednesday after U.S.crude futures dropped to a fresh six-year low and Brent oil also retreated.
The presidents of Egypt, Sudan and Ethiopia are set to sign the agreement on 23 March in Khartoum.
11:06 GMT
Al-Sisi ordered the committee’s continued review of the agreement draft and the study of all aspects, as well as the necessary legal action on the subject.
Temptation to spend on luxuries and lifestyle factors is a very real and present danger
10:47 GMT
The UAE and Middle East have long symbolised a region where expats can enjoy greater financial rewards for their toil and in a tax-free environment.
The payments resumed in December along with Kurdish oil deliveries.
10:41 GMT
Iraq’s government will make a budget payment to Kurdish authorities “within days,”
The IMF has long urged GCC countries to introduce VAT. The
10:21 GMT
Given the recent negative oil price shock, GCC governments need to chalk out a plan to enhance their revenue base.
Today, tens of thousands of them are jobless university graduates with premium debts to the state.
09:55 GMT
Around 5 million people in Turkey are unable to receive public health services due to unpaid social security premium debts owed to the state,

March 18, 2015

The new city will occupy 700 square kilometres of land to the east of Cairo and will accommodate seven million people when complete.
22:06 GMT
The UAE and Egypt have signed an agreement to build a new $45 billion administrative capital in the outskirts of Cairo, state news agency WAM reported.
In order to keep pace with the social media savvy citizens, Arab governments too have stepped up their presence on social media websites
22:01 GMT
Around 41 per cent of social media users in the Arab world preferred to communicate via WhatsApp,
U.S. crude oil futures fell about 60 percent from a high over $107 a barrel in June to a six-year low under $43 Tuesday.
21:53 GMT
U.S. natural gas production could decline in 2016 for the first time in 10 years, driven by low oil prices after a decade of gangbusters growth from shale plays.
Healthcare practitioners, 700 of who are being trained, will ensure patients get the same care including everything from screening to medications and diet.
21:33 GMT
Patients visiting general practitioners will be told if they are borderline diabetic and if they require to be screened for the disease.
 Saudi Arabia’s Alwaleed Bin Talal Alsaud is the Middle East’s richest real estate tycoon, according to the 2015 Forbes Billionaires List.
14:32 GMT
Following the announcement of Forbes Billionaires List for 2015, Global property platform Lamudi takes a look at some of the top real estate tycoons in the Middle East region.
If you ask any Bayt.com employee, they’ll tell you that Bayt.com is not just a company; it’s a family.
14:22 GMT
Bayt.com has just been awarded one of the top 10 companies to work for in Asia by the Great Place to Work® institute.
The rise of new Chinese companies is expected, rather than international ones like Sony, Samsung and LG.
14:11 GMT
75% of mobile phone prices to drop under $100 by 2020, says El-Motaheda CEO
Ask your boss, ‘What do I need to do to get promoted? What opportunities are there for me to learn and develop?
13:43 GMT
Studies have shown that a significant number of employees in the UAE and other countries in the Middle East, are dissatisfied with the level of their compensation.
"Why do they do this?" Netanyahu asked.
11:42 GMT
Prime Minister Benjamin Netanyahu, set out to refute the claims that his government had failed in running the economy.
there is a clause in the contract allowing gas supply to be interrupted at short notice
11:30 GMT
There is a clause in the contract allowing gas supply to be interrupted at short notice
"This is an act of state sovereignty,” foreign ministry spokesman Badr Abdel Atti told Ahram Online.
11:19 GMT
Any person wishing to enter Egypt will need to obtain a visa before departure and will not be offered it at the airport upon arrival/
OPEC warned that prices picked up even though there was still an oversupply of almost one million barrels a day on the market.
10:55 GMT
A recovery in oil prices which began last month is not justified by fundamentals as there remains a supply glut in the market.
The trip can be followed on the Solar Impulse website with live video and updates.
10:01 GMT
On March 9, 2015, a plane took off from Abu Dhabi early in the morning and landed in Muscat, Oman, early in the evening.
Kahramaa said it is now working on the second phase of the water project, which is targeted to meet the country's requirements until 2036.
09:56 GMT
Qatar is planning to construct 24 mega reservoirs in five different parts of the country in a bid to boost its water storage capacity.

March 17, 2015

The St Regis Dubai Al Habtoor Polo Resort and Club is scheduled to open in early 2017.
19:50 GMT
The St Regis Dubai Al Habtoor Polo Resort and Club is scheduled to open in early 2017 and will be the centerpiece of a six-million square-foot equestrian sports complex.
The bustling city state now has 1.4 million vehicles for a population of 2.4 million
19:45 GMT
The number of vehicles in Dubai has doubled over the past eight years giving the Gulf emirate more cars per person than New York or London, official figures showed Monday.
Salary levels in Israel's private sector are lower than the levels 14 years ago
19:40 GMT
Ministry of Finance Chief Economist Yoel Naveh found that private sector salaries have fallen in real terms over the past 14 years.
The situation Jordan is facing as a host is unprecedented, according to Ensour.
19:36 GMT
The Kingdom this year launched Jordan Response Plan (JRP) that worth $2.9 billion to provide services to Syrian refugees in the country and host communities.
The project, worth $40 billion (305 billion Egyptian pounds), will see the construction of a million housing units in 13 sites across Egypt.
19:30 GMT
Arabtec has accepted Egypt's new conditions.
“Money is a short-term motivator. Companies need to find ways to continue to connect with their employees."
19:21 GMT
If a company is certified as being a great place to work, there is no higher validation than that.
The last time BlackBerry had a device like the Classic in its range was four years ago with the 9900.
19:07 GMT
The aptly named Classic is the latest device out of the struggling phone maker’s stables, but one that really harks back to the good times.