December 19, 2014
Almost three quarters (72 per cent) of Mena respondents state that they are employed in a mixed gender workplace.
First Saudization, now 'womanization'? More women to occupy top government jobs, says Saudi government
A total of 5,298 expatriate government employees were sacked in 2011 while 4,380 Saudi female government employees left their jobs in the same year, a study revealed.
Etihad Airways is not interested in ordering any more Airbus A380s, while the launch of its first Boeing 787-9 Dreamliner into service has been delayed.
The consumer has been and remains a key driver of growth in Kuwait, even as growth in the sector has moderated somewhat.
Bahrain could start importing gas from Russia in 2017, Russia’s ambassador to the Gulf Arab kingdom told a local newspaper.
The "investment window" will officially be launched in mid-April 2015, Jordan Investment Commission (JIC) President Montaser Okla said Thursday
High housing prices are preventing an average Israeli family from making ends meet.
Fitch Ratings has issued a stable outlook for all banks in the GCC in 2015, largely driven by the probability of sovereign support in times of trouble.
December 18, 2014
This is a very important discovery as this is the first time that the Jurassic formation is proven to be a hydrocarbon producer in the East
Foreign Minister Gebran Bassil signed a free-trade agreement with the Mercosur countries of Latin America, stressing the importance of maintaining good relations with the bloc.
Qatar’s index tumbled 3.5 percent and Kuwait lost 2.1 percent.
Stubborn, delusional, or both? Saudi Arabia to keep up 'massive' public spending package despite oil price crash
Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil which provides the bulk of the kingdom’s revenue.
December 17, 2014
Core Gulf OPEC oil producers signalled this week they are prepared to wait as long as six months to a year to see the market stabilise,
The airline industry is set to reap the benefits of lower oil prices, which could fall to as low as $30-a-barrel.
A total of 6.2 billon malicious attacks on user computers and mobile devices were blocked by Kaspersky Lab antivirus products in 2014,
The most searched queries in Google in the UAE were World Cup 2014, iPhone 6 and Malaysian Airlines.
The airport in Hurghada, a major tourist hub on the coast of the red sea, will now be able to accommodate 13 million passengers annually.
Dubai’s residential rents have stabilised in the second half of 2014, growing seven per cent year-on-year in 2014.
The decline in fuel prices comes against the background of Brent oil falling to a new five-year low.
From travel guides to shopping portals, new Internet ventures aim to capitalise on the growing "Muslim lifestyle" market.
The lira weakened to a record low of 2.4140 against the dollar on Tuesday after a fall in the value of the ruble in Russia
Turkish military electronic defense systems corporation ASELSAN launched a production plant via a joint partnership between the Turkish firm and a Jordanian company.
Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, chairman of Kingdom Holding Company (KHC), and owner of Alarab News Channel.
Here is a look at three of the Middle East’s most affected economies – some of which are already on the brink of a serious crisis.
Developing countries in Asia - particularly China and India - are rapidly becoming the biggest trading partners with Gulf Cooperation Council (GCC) countries ahead of other regions
Minister of Industry and Trade Mounir Fakhry Abdel Nour issued a decree Monday stipulating the formation of the Egyptian-Chinese Business Council
Matein Khalid warns on the effects of a strengthening US dollar to other currencies
December 16, 2014
“It will be a positive effect starting from next year. We will see a drop in ticket prices,”
Betting on the counterintuitive? Understanding Saudi Arabia's logic, or lack thereof, behind not cutting oil output
The world assumed that, despite a surge in US shale oil, Saudi Arabia world cut output to keep prices above $100 Brent.
Kurdistan’s Regional Government (KRG) has failed to pay $100 million to a Dana Gas consortium as instructed by a London arbitration court
The FBI has warned US businesses to be on the alert for a sophisticated Iranian hacking operation.
Qatar predicted its economy would grow 7.7 percent next year, signalling the world’s top exporter of liquefied natural gas expects very little disruption to its finances
Businesses and organisations in the Middle are failing to create professionals equipped with the necessary skills to head industry.
December 15, 2014
OPEC will stand by its decision not to cut crude output even if oil prices fall as low as $40 a barrel.
Zawaneh told The Jordan Times the “government should play it smart” and build the law based on an average price, “not to go for $30 and not to keep it exaggerated as $100”.
Iranian authorities have arrested 12 people for syphoning off more than $4.5 billion (3.6 billion euros) from one of the country's main banks over several years.
Every year, nearly 250,000 students from the Mena flock to universities overseas to pursue higher education.
With deep pockets and hundreds of new planes on order, Qatar Airways is one of a trio of fast-growing Gulf carriers seeking to further muscle into European markets.
"It is a strategic threat to the country; not only poverty, but also wage gaps."
Libya's eastern Es Sider oil export port, the country's biggest, has been shut due to fighting nearby between forces representing the country's competing governments.
The Dubai index wiped off gains registered in 2014, since it fell another 7 per cent for a second straight session.
Egypt's stock market plunged by 22 billion Egyptian pounds (just over $3 billion) in a single day of trading Sunday as low oil prices dragged down regional economies.
December 14, 2014
More like the ‘gold’ lining? Oil price fall a golden opportunity to switch to clean energy, says IEA
World leaders have a "golden opportunity" with plunging oil prices to put a price on carbon emissions since cheaper fuel makes the move less risky politically, said the International Energy Agency (IEA).
Crude oil supplies from Saudi Arabia inched up in November from a month earlier, an industry source said, signalling no change in the kingdom's supply
Following repeated delays, it was generally understood that full completion of the project would take place in 2015.
Iraq is seeking to postpone a final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait,
Thw carnage continues! Markets are in free fall
Switzerland has charged a former computer analyst at HSBC’s private bank in Geneva with industrial espionage and breaching the country’s secrecy laws.
In 19% of cases, civil servants caught accepting bribes were left uninvestigated, with another 41 % of investigations opened but not concluded, according to a World Bank statement issued Friday.
“There has not been a full return to pre-global financial crisis premium traffic share."
The European Union announced Friday the completion of a project to modernize Lebanon’s tax administration after nearly two years of cooperation between the French and Lebanese Finance departments.
December 12, 2014
Average salaries in the UAE for professional roles rose by just two per cent over the last 12 months.
Appreciating three-star hotels: Dubai steps in to address its unhealthy obsession with luxury hotels
A company owned by Dubai’s government plans to open four hotels in the emirate next year to expand the supply of mid-priced rooms in a market dominated by luxury accommodation.
December 11, 2014
The gap between rich and poor in Turkey is at the second highest level among Organization for Economic Cooperation and Development (OECD) member countries,
The head of Dubai-based airline Emirates has reacted angrily to a suggestion by Airbus that it might stop making its A380 superjumbo airliner.
By investing tens of billions of dollars, the desert nation's output grew through the 1980s until it ironically became one of the world's largest wheat exporters.
Iranian President Hassan Rouhani has blamed unnamed countries of plotting to bring down crude prices.
Abdullah Abu Thunain, deputy minister for inspection and work environment development, said that the punitive measures were taken following raids carried out by inspectors
“If you master salary negotiation, you can get a sneak peek into what your employer’s “reservation price” is and use it to your advantage.”
Constellation Hotels, part of the Qatar Holding investment vehicle, has reached an agreement with InterContinental Hotels Group to buy its iconic InterContinental Paris Le Grand hotel for €330 million ($405 million).
The European Union (EU) proposed a new trade agreement for countries participating in partnership agreements with Europe last week.
The International Monetary Fund on Tuesday said Iraq's oil-dependent economy was expected to contract much less than previously thought this year due to rising oil production.
Middle Eastern nationalities, along with the Chinese, are the top takers for St. Kitts and Nevis’ citizenship by investment program, an industry source told Gulf Business.
December 10, 2014
Lawmakers on Wednesday recommended that the government shelve a planned natural gas deal with Israel following two long sessions dedicated to discussing the controversial issue.
That is higher than a poll conducted before the last election in January 2013, when 43 per cent cited economic issues and the cost of living as the biggest concern.
"We want everything to be absolutely perfect," chief executive Akbar al Baker said in June after postponing the delivery of 13 A380 super jumbo planes, eventually received in September.
The Dubai Health Authority’s (DHA) Medical Education Department, in association with Harvard Medical School, has granted 15 scholarships to DHA medical professionals.
Most stock markets in the Gulf fell sharply Tuesday after oil prices hit five-year lows, triggering a fresh wave of panic selling of shares by local retail investors
Kuwait and Saudi Arabia are the only Gulf countries where the sale and consumption of alcohol is totally banned.
Buying Israeli gas will save the Jordanian economy $1.5 billion a year.
A breakdown in OPEC solidarity or a price war among producers for market share will lead to an “enormous price-dive shock.”
British oil major BP plans to invest more than $12 billion in Egypt over the next five years.
Bahrain and Oman will be more adversely affected by the lower oil prices because they have the highest fiscal break-even prices and the lowest reserve buffers in the GCC.
Etihad Airways, the national airline of the United Arab Emirates (UAE), has been awarded the highly coveted title of ‘World’s Leading Airline’ for the sixth straight year.
The Shoura Council is currently debating a new law to fight tasattur or illegal business activities conducted by expatriates in the name of Saudis.
Buyers beware: the choices are fewer than they seem.
Marketed as ‘Ten Broadway’, the 600,000 sqft site, home to the London Metropolitan Police since the 1960s, is located in prime central London, and will be redeveloped into a multi-use development.
A chicken farm backed by Qatari investors will have capacity to produce 45 million kgs of chicken meat by 2018.
Oil prices dropped nearly 10 percent following the decision by OPEC not to cut production from current levels of about 30 million barrels per day.
December 9, 2014
Under new laws for public taxis that come into effect in 45 days, commuters in the Kingdom will no longer hail cabs on the streets.
The GCC railway link project, which has been given top priority by the bloc’s leaders, would be completed by 2018
The Ministry of Education ordered the closure of 17 international schools and issued warnings to 32 others last year for violating local laws.
The introduction of new taxes — most likely indirect — will be a last resort for GCC governments, which are coming under mounting pressures consequent to plunging oil prices,
Opec, by not cutting production in an over supplied market, is trying to limit the growth of oil which is produced at a higher marginal cost.
Kuwait was placed in 61st position internationally after Qatar, Greece and the Kingdom of Saudi Arabia.
A trade mission of 50 major Italian companies in the energy and logistics sector will hold investment talks during a visit to Cairo in February.
Egypt will be the second – after Kuwait – to sign a nuclear memorandum with Jordan
There were over 2,758 job opportunities offered, and only 811 vacancies were filled.
The announcement highlights the importance of the Middle East to the brand’s continuous success,
Foreign reserves reached $15.8bn at the end of November 2014, marking a $1.1bn decrease from $16.9bn in October.
Iran's telecommunications minister has said his technicians are developing a system to identify any Internet user in the country at the moment of log-on.
While 9,450 new business deliveries valued at $280 billion are forecast between 2014 and 2024 around the world.
The 2015 outlook for GCC banks is stable, but it is negative for those in the rest of the MENA region, says Moody’s Investors Service.
December 8, 2014
Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.
While there was no fundamental reason for such a steep drop by Dubai's biggest listed property firm, the most likely explanation was a sell-off by investors.
Emirates Executive has said its passengers constitute corporate executives, large family groups and government delegations.
Parliament Speaker Nabih Berri told Al-Akhbar that he received information a few days ago confirming that Israel has started stealing Lebanese gas.
There is no threat to Lebanon’s banking secrecy, despite the mounting pressure from the international community to disclose the accounts of Lebanese with dual passports.
The construction and building firms listed in Saudi Arabia saw their net profits plunge by 39 per cent to reach SR528 million ($140.6 million).
With one month to go, 2014 is already the best year for hiring in 15 years.