Infrastructure, electricity cables and sewage networks were damaged during the blizzard, as well as ancient trees in the university forest, according to Tarawneh.
Pakistan’s foreign Affairs Ministry has slammed a recent editorial by Dubai newspaperGulf News, which accused the country of “betraying” the UAE by not supporting Dubai during the Expo 2020 vote on November 27.
Luxury car bran Infiniti has launched two new models into the Lebanese market: the QX60 and the QX70.
The increment will be paid retroactively as of June 2013 and will be adjusted in the December 2013 salary, the statement added.
Learn the story behind the outlet's success.
Winning the Dubai 2020 World Expo bid has boosted the world's confidence in the UAE's economy, but the country's business and investment policies are also attracting innovation and new entrepreneurs to the country.
The implementation of a GCC union at this time may have little to no economic effect on Arab countries due to current loopholes in countries' economic cooperation models.
Saudi's stock market has recorded its best year since 2009 according to estimates this week.
Sanad Aero Solutions, Mubadala’s spare engine and component financing and leasing solutions companies, which has engine leasing relationships with airberlin is now worth more than $130 million under a new sale and lease back agreement
Despite a recent stagnation, Saudi's iron market is back and thriving.
Dubai-based shopping mall, retail and leisure group Majid Al Futtaim has heralded a new era in the family-owned company by announcing Tuesday a $5 billion investment plan as part of its new unified branding push.
“Mega sporting events should be seen as both a celebration of athletic achievement and an opportunity to boost economic growth for an entire city, country and region,” Blagovic said.
Having once been the regal heart of the Middle East, Egypt now finds itself relegated to the position of a mere jewel being fought over to adorn other countries' crowns.
December 17, 2013
The global Islamic finance sector is booming with over $1.4 trillion in assets. The question now is will the GCC lead the sector's growth in the upcoming years or will another player take the lead?
The UAE announced this week that it has launched a campaign to reward employees for bringing innovation and "virtues of transparency" into their workplaces.
Google has finally released Android 4.4, fondly known as "KitKat," on the market. Here are ten new features Android users can look forward to with Google's new release.
Oman-based telecom operator Nawras has recently launched a new business package deal for mobile users in the Sultanate.
Earlier this month, Qantas forecast a half-year loss of up to $269 million and said it would axe 1,000 jobs, leading to a credit downgrade from Standard & Poor’s, which cut its rating to “junk” status.
Analysts’ forecasts for global oil demand growth have diverged over the past month.
What Arab Spring? The Middle East is undergoing a quiet revolution that is truly transforming the region
Finally, some positive news from the Middle East. Here comes an optimistic lens on the entrepreneurial tsunami reverberating through the capitals of the region - and why you need to join.
The charges, mostly involving infrastructure projects, were outlined in six trials that opened on Sunday.
A new report looks at the financial crisis of 2009 where conventional banks witnessed far greater levels of exposure in comparison to their Islamic banking counterparts.
The real estate, construction, banks and telecom sectors dominate most of the trade.
A recent National Bonds survey sheds light on the surprising rates.
A lack of fuel has hampered the rescue efforts in Gaza, where flooding from heavy rains has forced about 40,000 residents from their homes.
As part of the capacity increase agreement, Emirates has signed a 10-year ‘commercial co-operation’ with Air Mauritius,
December 16, 2013
At any rate, it seems that reality as politicians see it is somewhat different from reality as economists see it.
The bank, established in 1974 by a treaty signed by Egypt, Libya, Qatar, Oman and the UAE, is exempt from many Egyptian laws.
The turnover of equities jumped 93 per cent compared to a year ago to $114 billion, said Mubasher Trade in a press statement
Jordan's economy is suffering, ensuring that its economic growth rate will not exceed three percent. Is Gulf Aid the country's economic remedy, or what else needs to be done for Jordan to be economically healthy again?
Bahrain's economy grew 4.6 percent over the past year based on third quarter data.
Coming clean after a parliamentarian probing? Consortium for Kuwait's historic desalination facility revealed
A special company was established for the project in which the winning consortium has a stake of 40 percent and the government holds 10 percent, while 50 percent is to be distributed to citizens as free shares
Saudi Arabia is investing in renewable energy research to create more job opportunities under its Saudization process.
One-way tickets between Dubai and Manila are going for a whopping $27 this holiday season!
Cleaning up their act, or just getting their hands dirtier? New GCC domestic worker law hoped to take effect next year
Bahrain will implement a unified GCC labor law to regulate domestic workers starting next year, and other GCC countries are expected to follow suit.
Sotheby’s International Realty, a luxury real estate brokerage agency, is setting up an office in Dubai, entering the market at the right time to catch up with the growing potential of the emirate’s realty sector,
Recent studies reveal that total investments in the plastics sector in Saudi Arabia have reached $50 billion, affirming the strength of the market.
Qatar is expected to show the strongest medium term growth.
Iran has suspended a USD 250 million loan to Pakistan to build part of a pipeline project for importing natural gas from the Islamic Republic.
The Four Seasons Hotel in the Syrian capital Damascus is one example. Located in the very heart of the city center, the five-star hotel has not been subjected to direct attack during the three year long civil war.
National Bank of Kuwait (NBK) is participating in a consortium of international banks to arrange a loan of $1.43 billion to finance the first phase of the Az-Zour North Power and Desalination Project in Kuwait.
It is claimed that due to Egypt's crackdown on Gaza's now famous tunnels the economy is losing $230 million per month.
Etihad Rail, the developer and operator of the UAE’s national railway network, has signed a Memorandum of Understanding (MoU) with SNTTA Cargo, the logistics division of Liberty Investment Co, (LIC), the holding company of the Liberty Group.
December 15, 2013
The latest measure by Emaar banning estate agents from reselling homes before completion is one of the many steps Dubai has taken this year to tighten up on flipping.
As per the agreement, both companies will conduct geological and geophysical studies upon which exploration wells will be proposed for drilling during the exploration period.
The survey found that the Venezuelan capital, Caracas, is currently the most expensive place in the world for expatriates, but where do Arab states stand?
Access to oil revenue is at the root of the current power struggles that have shut down production, Oxford Analytica observed.
"When tourists, traders and other expo visitors fly down to Dubai from across the world, they will be fittingly greeted with the floral logo of Expo 2020 and welcome notes with plants at various places."
As turmoil continues to plague the region, with the governments of Gulf Cooperation Council states still advising their nationals against travel to Lebanon, and the country still in the grips of an economic downturn, merry is not how merchants would describe this Christmas season.
Dubai’s hosting of the World Expo will be a major catalyst for the remittance market, as it will attract more expatriates into the country and drive the GDP.
The changing global crude outlook is manifesting itself in more than one way.
Al Islami Foods, the leading halal food company in the Middle East, will soon be establishing a permanent presence in Russia, Azerbaijan and other countries in the Commonwealth of Independent States.
The importance of personal branding: Can a lousy facebook profile be the only thing keeping you from landing the job?
A recent study by MENA job site Bayt.com found that 70.5 per cent of employers in the region have changed their mind about a candidate after researching their activity on social networks.
The RTA will run the technical run of the tram in the depot’s rails, and the test run will then be carried out along a distance of about 2km.
Who said they only come from the Gulf? Meet the Jordanian billionaire who just jumped up the Forbes List
His company had sales of more than $11 billion during the year.
December 14, 2013
Speaking to Arab News, economist Ihsan Buhulaiga, a former Shoura member, stressed that the 2014 budget should focus on strengthening the private sector to play a greater role in accelerating growth.
December 12, 2013
The Organisation for Economic Cooperation and Development said Sunday that while Israel enjoys rapid economic growth and low unemployment it has the worst poverty of the group's 35 member states.
Qatar 2022 general secretary Hassan Al Thawadi has refused to set a deadline for the country to improve the rights of its migrant workers.
Israel does control the US economy afterall? The Bank of Israel's former governor is about to lead the US Fed
Fischer, 70, stepped down as Governor of the Bank of Israel in June, midway through his second term. He holds dual Israeli and US citizenship.
UAE is exploring ways to enhance its economic relationship with India, according to the UAE's foreign minister.
Saudi Arabia's medical device industry, already valued at $1.1 billion, is expected to reach $1.6 billion by 2018.
Can job growth and expanded employment opportunities serve as the solution to various crises throughout the Middle East?
Digital advertising in the Arab World is set to become a quarter of the total market, but companies in the Middle East still have a long way to go with their online presence, says Google.
Gamers can get the PlayStation 4 Console as key retailers are holding launches at their stores across the UAE on Thursday at 11pm.
The value of merger and acquisition (M&A) deals in the Middle East and North Africa (Mena) region jumped 76 per cent to $17.3 billion in the third quarter this year from $9.9 billion in the same 2012 period.
For the fourth year in a row, the social network released a list of keywords and buzzwords that professionals use to describe themselves.
Emaar Properties is unveiling a stylish and cosmopolitan lifestyle choice in urban living with the launch of Vida Residence, The Hills in the heart of Dubai.
The Central Bank of Iran (CBI) has set up a task force on the return of the country’s assets blocked by the U.S., IRNA quoted a CBI official as saying on Wednesday.
December 11, 2013
With its new property regulation laws, Dubai's government might be sticking its nose in your holidays
With the expo 2020 lined up, there is not such option as "going cheap" with accommodation when making a trip to Dubai.
On the second day of the Riyadh Economic Forum (REF) on Tuesday, three major initiatives were proposed to make the Saudization drive a great success as well as to overcome the hurdles in this regard.
UAE telecoms operators have dropped BlackBerry’s new social media service, BBM Channels, just two weeks after it was launched.
Marriott International is planning to operate 10,000 rooms in Dubai, four times its current number, in time for Expo 2020.
Doing what they did with the pharaoh's artefacts? UK stalling the return of Mubarak's frozen assets to the Egyptian people
UK officials warn it is not a straight forward process and the repatriation of the stolen monies could take years.
The company also plans to invest in other fashion retail businesses and is hoping to create employment opportunities for around 1800 to 2000 people.
It was last year that the first realty fund was launched and generated 35 per cent to investors when it was liquidated at the end of 2012.
With rising demand for power in KSA, the Gulf country is building the largest electrical supply expansion in the Middle East.
From Dubai with Love: James Bond's Aston Martin to be auctioned off Wednesday to raise money for Syrian refugees
Watch out Dubai! James Bond...or rather his coveted customized Ashton Martin Vanquish car, will be the main feature of a Dubai charity auction that has been planned to raise money for Syrian refugees
How far are MENA companies willing to bend? Flexible workplaces linked to increased productivity, says report
Sixty-seven percent of Middle East workers have identified flexible working conditions as critical to easing work-related stress and decreasing absentee rates from the office.
Gender equality programs are sorely needed in the Middle East.
The Pacific Alliance, a new Latin American economic bloc that accounts for 26 per cent of Dubai’s overall trade with the region, made its Gulf debut with an official launch in Dubai on Tuesday.
While talks and news is focusing on how the Geneva deal may be the best bet to save Iran's economy, a broader look at the Persian country's economy may be a better route to create a pragmatic, sustainable economic policy suitable for today's conditions, as well as tomorrow's.
Deutsche Bank AG reduced its crude price forecasts for 2014 by about $10 a barrel from this year on booming US production and the prospect of an easing in supply disruptions in the Middle East and North Africa.
Bahraini customers will be using a 5G mobile network, 100 times faster than 4G, by 2017.
Up to last year, the expected time to register a company in Iraq was about six months, and the costs were something close to $10,000,” the owner said.
Kuwait's bank credit increased by KD391 million ($1.37 billion) in October, pushing year-on-year growth to 7.8 per cent and marking the largest monthly gain in five years, a report said
December 10, 2013
Egypt’s annual urban consumer inflation rose to 13 percent in November
This curious “marriage of convenience” has been through rough times before and it survived many odds, but is it in for a break-up.
It is noteworthy that Jordan , Palestine and Israel signed in Washington yesterday a memorandum of understanding for the implementation of the first phase of the project carrier Red Sea - Dead , which is one of the most vital strategic water projects in the Kingdom.
The UAE will add 29.2 million passengers at a Compound Annual Growth Rate (CAGR) of 6.6 per cent in the next five years,
Saudi consumers are increasingly the target of cyber attacks, with three out of 10 KSA residents reporting that they have experienced cybercrime within the past year.
Lebanon's tobacco regulatory authority has allocated $39 million to increase the country's cigarette production due to rising demands from domestic consumers---as well as Syria.
Saudi Arabia increased its share in the Islamic Development Bank's subscribed capital this week, with KSA now holding a total share of $6.85 billion
Julius Baer announced Monday that it will take over the Merrill Lynch International Wealth Management businesses in Lebanon, Bahrain and UAE.
Need your Amazon purchase within the hour? No worries...CEO Jeff Bezos plans to have orders to customers within thirty minutes by 2015. How? Drone delivery.
Students in UAE schools are much happier than their counterparts in the UK and USA, according to the results of a new global study.
The new capacity will help meet Dubai’s own target of generating half the additional power needed to run the Expo from renewable resources
Losing one’s job in the Gulf is more than just a loss of income; it translates to the loss of everything — accommodation, car, friends and a safe, secure country adopted as home.
December 9, 2013
If you feel you are not being paid as much as you deserve, here are some ideas to help you.
London Bridge Holdings had originally planned to refinance More London by next summer but decided to sell the asset due to the attractive offer made by St Martins, which already owns property in London.
Who said peace is dead? In historic moment, Jordan, Palestine, and Israel come together to save the Dead Sea
But don't get too carried away with the idealistic title, the deal is also all about guarding their strategic interests.