Cutting production by significantly more than the 0.5 to 1 million barrels, which is currently expected, may help trigger a rally in the market.
Brent crude oil prices started Tuesday's Asian trading under $80 a barrel as traders lowered their expectation of a significant output/
The charges concern alleged bribes made to officials to secure rights to Iranian gas and oil fields in the 1990s and 2000s.
The Special Cash Dividend follows the successful IPO and listing of the Emaar Malls Group.
The mounting oversupply of property in the emirate is still likely to result in a price correction over the next 12 months or so.
Leading Dubai-based fast food chain Kcal will expand in the MENA region and announced 14 new branches in Egypt.
Kitchen and bathroom imports have been squeaky clean and on the rise in the UAE following reports from experts that the industry will exceed $30 billion by the end of the year.
November 25, 2014
Gulf labour ministers Tuesday agreed on minimum terms in the contracts of domestic staff to improve the widely criticised working conditions of over 2.4 million foreign maids.
“We’re losing around $40 billion a year because of geopolitical sanctions."
Egypt suffers from legislative chaos, lack of legal reforms: Saudi businessmen.
Regional businesses can no longer progress based on just social connections
Dubai is facing a serious challenge posed by the need for 283 new hotels to be delivered between 2014 and 2020.
November 24, 2014
Dubai-based business intelligence tool MEED will host an "Invest in Egypt" conference.
The amount of land purchased by Israeli nationals in Turkey has skyrocketed over the past two years.
In the year 2000, The Economist magazine famously described Africa as “the hopeless continent” on its cover.
Al Kaf will be suspended until Mobily’s audit committee completes its investigation into these errors.
November 23, 2014
Oil analysts are putting down markers on the Organisation of the Petroleum Exporting Countries' (Opec) meeting on November 27.
On Saturday the UAE designated 85 organisations as terrorist groups including the Brotherhood, Islamic State.
Israel's offshore Tamar gas field may get a $1.5-$2 billion upgrade, including the construction of an underwater pipeline to an export plant in Egypt.
It seems that this is the economic [golden] age of Dubai
November 20, 2014
“With all the tickets now sold out, we can officially say that the 2014 Formula 1 Etihad Airways Abu Dhabi Grand Prix is going to be bigger than ever before!”
Internet platforms like Facebook, Google and Amazon are developing banking products that will probably become future foreign competition for the UAE banking sector.
Disney World shows in Egypt sends an important message to domestic and international investors to Egypt.
29,400 people, or 1.4 per cent of Qatar’s population, are estimated to be working as slaves, in forced labour or domestic servitude, a report said on Monday.
The number of hazardous workplaces in Turkey, especially those related to industries such as mining and construction, stands at 680,000.
Dubai has been ranked as the most attractive city in the world to work in, beating others such as New York and London, according to an INSEAD alumni survey.
Gulf-based airlines have closed financing agreements for a total of 16 Boeing and Airbus aircraft,
While the year 2014 began with expectations of higher growth, higher yields and higher stocks, it is ending with the reality of lower inflation, lower yields and higher stocks
Bank of Tokyo-Mitsubishi UFJ was fined $315 million by a US banking regulator Tuesday for pressuring a consultant to water down a report on transactions with Iran.
November 19, 2014
Private hospitals employ 30,000 workers, 95 per cent of whom are Jordanians.
Rising demand from Asia and economic and environmental pressure on cocoa farms is threatening to make chocolate a rare delicacy in the next five years.
Yet as an employee, being fearless is not obviously an advantage. It means the usual levers don’t work on you any more.
November 18, 2014
Libya was one of the Arab world’s leading oil exporters after Colonel Gaddafi’s bloodless coup in 1969
The economy contracted for the first time since 2009 due to Operation Protective Edge.
The halal industry and the certification bodies seem to have missed the boat on cross contamination challenges for halal certified products
Officials from all levels of government took measures Monday to try to regulate the food industry, in response to the ongoing food scandal that has gripped the country since last week.
Egyptian electricity production generated from solar energy dropped by 48% in 2012/13 compared to the year 2011/12.
Since 1992, Iran has begun a self-sufficient military program under which it produces everything from mortars to torpedoes and jet fighters to submarines.
India’s role as a top labor supplier means its drive cannot be totally ignored by recruiters, and it could have a big impact in some countries and industries.
Faced with tough international financial penalties, Iran has turned in recent years to China, Russia and Turkey to finance major projects.
Soaring costs of housing and education have offset Dubai’s tax-free benefits that traditionally lures most expats to settle down in the emirate, a new study has found.
The two Qatari 'giants' come together: Oooredo in deal to build monumental media cloud for Al-Jazeera network
The deal marks one of the largest and most significant implementations ever announced by a broadcaster.
November 17, 2014
He said he expected OPEC members to stick with the current output ceiling.
One of the largest infrastructure projects,the New Port project will be built on a sprawling 26 km area at an estimated cost of $7.41 billion.
Qatar rose up the rank from 96th place on previous list to the fourth position in the latest index.
Emirates airline, Dubai Airports and the aviation sector as a whole contributed $26.7 billion to the economy of Dubai in 2013.
Facebook is secretly working on a new website called "Facebook at Work" that would allow users to keep their personal profile separate from their work profile.
The Omani government has opted to manage its crude oil reserves by limiting production, shifting its focus to diversifying its economy
The forces at work are more likely to be permanent rather than temporary and cyclical, suggesting low and/or a downward trend for oil and gas prices.
The Dubai index of intellectual property rights will monitor the level of intellectual property rights protection in the emirate.
Iran’s oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output.
Online retailer Souq.com has announced plans to bring one of America’s biggest shopping days to the Middle East in a bid to boost e-commerce.
November 16, 2014
MENA non-sovereign debt capital markets make up a small part of financial markets but then again, have potential to replace private sector funding as an alternative source.
The UAE is already a hub for development and excellence but the nation also pays a lot of attention to innovation, which is key for the economy.
Leading construction and integrated design firm Drake & Skull profits dropped by 10 percent in the third quarter of 2014.
Jordan Phosphate Mines Company profits rose by 217.3 percent in the first nine months of 2014 due to maximized operations.
Etihad Airways became the largest shareholder in Alitalia in a €1.7 billion rescue bid, following talks over the last year.
Saudi Arabia's 26th International Construction Technology and Building Materials Trade Exhibition successfully concluded following the four-day run in Riyadh.
Tony Abbott vowed that countries would add $2 trillion to global GDP during the G20 summit in Brisbane.
Manufacturing is becoming one of the fastest growing industries in the Kingdom, with an average growth rate of 7.5 percent, according to a recent report.
....and buy every Russian an iphone 6.
Jordan Phosphate Mines Company (JPMC) maximised its operational profit by 217.3 per cent, or JD22.9 million, during the first nine months of this year.
November 14, 2014
bservers say the hotel sector has never experienced conditions as tough as the ones they are going through today.
The Gulf nation aims to raise the amount of crude oil it can pump by one-quarter, to 4.0 million barrels per day, by 2020.
November 13, 2014
Zangeneh made a similar plea with the emir of Qatar, Sheikh Tamim bin Hamad al-Thani, during his stopover in Doha on Monday.
The Turkish government is preparing to grant temporary IDs and work permits, among other privileges, to around 1.7 million Syrian refugees.
Global demand for oil from Opec next year will be far below its current output level because of the US shale boom,
Last week it was reported that thousands of migrant labourers from North Korea are toiling for years on construction sites in Qatar for virtually no pay.