December 5, 2016
In a surprise move, Egyptian billionaire Naguib Sawiris has announced that he will step down as CEO of Orascom Telecom Media and Technology Holding as of 1 January 2017.
Looking beyond the euphoria, there will be question marks on how OPEC's first production cut deal since 2008 will be implemented.
Distinguishing between seasons, knowing the cost of living and chasing the airfare rather than the destination can stretch your money further.
With over 40,000 sqm of exhibition space, international automakers from across Japan, Korea, China and US will be showcasing their 2017 models at the exclusive show in Jeddah.
Iran currently produces medicines for 95 percent of its domestic needs and is looking towards the lucrative MENA market for its pharmaceutical exports.
Take a look at the kind of information websites can find out about you from your browser.
Abu Dhabi follows London, Hong Kong and New York to host global financial leaders for a summit to discuss investment opportunities and risks in the financial landscape.
A draft version of the country’s budget bill for the next year envisages a total income of over 1.1 quadrillion rials from selling 2.42 million barrels per day of crude oil at $50 each.
As Lafarge awaits approval for its plans to develop the former cement factory into a green urban hub, some locals are skeptical of the benefits.
The process of getting an internal position will require some preparation and as much effort as getting a brand new job in a different company.
Last week SAMA's security center detected an organized cyber-attack originating from abroad, on different government entities and vital installations.
Egypt's decision to raise tariffs up to 60 percent on 320 different luxury goods, including some fruits, cosmetics, stationary and electronic gadgets will raise annual tax revenues by EGP 6 billion.
December 4, 2016
The new warning by the ministry came after receiving new applications by Lebanese companies willing to negotiate over the layoffs of some of their staff.
Saudi Arabia's Lionhorn Private Limited assumed ownership of McDonald's business in Malaysia and Singapore on December 1, which includes a total of 390 restaurants.
The 37th summit of the Gulf Cooperation Council will be held in Bahrain this week, during which GCC states will have the chance to discuss projects such as the pan-GCC railway, integrated water grid and common market.
Lebanon's telecom minister has vowed to have the country fully connected by fiber optics by 2020, with the vast majority covered by 2017.
The US, UK, and EU countries have pledged donations towards the first phase of the Red Sea-Dead Sea project, which is slated to begin in early 2018.
Instilling your teen with a sense of financial discipline and accountability should occur as early as possible.
Whatsapp has announced that the app will no longer work on old phones such as the iPhone 3GS by the end of 2016.
As the halal food industry continues to garner global interest, industry leaders in Barcelona are discussing ways in which the halal industry can have wider benefits for Mediterranean economies.
Dubai World and Caisse de depot et placement du Quebec (CDPQ) have created a joint venture which will invest in global ports and terminals, including DP World’s Canadian container terminals.
If you're a Millennial job hunter, here are five jobs in Dubai that you may want to consider.
Adopting the GICS by January 2017 will enhance transparency in the local market and allow international investors access to better information on the performance of local sectors in Saudi Arabia.
In its latest drive to lure back foreign investors to its energy sector, Egypt has received six bids for oil and gas exploration.
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.