August 28, 2014
Jannah Hotels and Resorts is planning to expand across the UAE by introducing more apartment hotels and brands to the company.
Vehicles registered in Dubai will soon have number plates with new designs as the Roads and Transport Authority (RTA) is working on plans to replace the existing designs and colours.
Casio Middle East unveiled two new Edifice time pieces throughout stores in GCC countries.
The Tadawul All-Share Index breached 11,000-mark with a six-year high. Strong global demand for petrochemicals supported the increase.
Saudi authorities denied reports that a proposal to reduce public sector working hours to 40 a week was being scrapped.
Fleeing war? UAE is the safe haven: Dubai property market is safe and secure according to a top banker
With turmoil continuing in the Middle East, the UAE has been the safe haven for many people in terms of property and flights, according to a senior banker.
A key meeting in Bahrain next week will see discussions between Bahraini and Indian business leaders on bilateral trade and investment opportunities.
Global marine terminal operator DP World has reported profit attributable to owners of the company before separately disclosed items of $332 million for the six months to 30 June, 40.8 per cent ahead of the first half of 2013 on a like-for-like basis.
Dun & Bradstreet South Asia Middle East Ltd (D&B) in association with the National Commercial Bank released the D&B Business Optimism Index (BOI) survey for Saudi Arabia for Q3, 2014. The BOI survey highlights the weakening of optimism levels of both the hydrocarbon and non-hydrocarbon sectors.
Households in Jordan can save up to 90 per cent of their monthly electricity bill by installing photovoltaic systems to produce energy from solar power, according to organisers of a campaign to encourage the usage of such systems at homes.
Bahrain is due to launch a high tech visa system, which will enable visitors from 102 countries to apply for and secure their visas online.
Although the Kingdom has the largest oil reserves in the world and occupies the fifth place in terms of natural gas reserves, yet according to a report by oil specialist the Kingdom faces many challenges as a result of a number of different factors, including its need to meet the requirements of development.
Planning for Dubai Expo 2020 has entered the next phase, organizers said in a statement Wednesday.
The Lower House on Wednesday referred the draft renewable energy law to its Energy Committee giving it urgency status, after dozens of MPs took part in the “first reading” of the bill.
August 27, 2014
Dubai residential rents have dropped slightly in the first half of 2014 by 2.0 percent according to a recent report from the Phidar's House Price Index.
The construction sector grew 2% while the cost of key materials including cement, ready mixed concrete, and reinforcement steel grew over 6% in the last quarter,
Aldar Properties announced another significant phase in the pre-opening of the widely anticipated Yas Mall, due to launch in November 2014.
A plan by Saudi Arabia’s labour ministry to give two days off a week in the private sector is being shelved following tremendous pressure from investors and the business community.
Prince Faisal bin Salman said Medina is an investment-friendly province and called for young people to put their ideas into viable projects.
Mall of the Emirates has entered the second phase of a major refurbishment plan, carried out by leading developer, Majid Al Futtiam (MAF).
Research and consultancy firm Oxford Business Group published a new guide to Saudi Arabia's economy and finance.
Tecom Investments launched a new 440-villa project close to its DuBiotech business park in Dubai, due for completion in Q4, 2015, according to the National.
Majid Al Futtaim Properties' success is continuing to grow with 17 operational malls across the MENA region. CEO George Kostas talks about how he runs the company so successfully.
Byblos Bank/AUB Consumer Confidence Index improved marginally in January and February, picked up pace in March and April, and regressed in May and June 2014.
Children’s new bedtimes for school are keeping families away from entertainment venues, leading to a sharp dip in revenues following an extravagant 100-percent occupancy rate during Ramadan and Eid.
Bahrain's Gulf Finance House Wednesday signed a $105 million deal with Kuwait Finance House in the wake of the global finance crisis, which hit the Middle East.
Dubai’s impressive average spending power of Dh53,000 ($14,400) per household per year has seen the retail sector riding a wave of growth to reach record figures, a report said.
His Majesty King Abdullah on Tuesday stressed his full support to all the committees entrusted with preparing a future vision of the national economy, coupled with an executive plan, urging them to place the interests of Jordanians at the core of their work.
August 26, 2014
Abu Dhabi's Adnoc Distribution has bought 34 Emarat service stations and a fuel depot in Sharjah.
Food imports have a key role to play in Saudi Arabia's booming agriculture industry. While the Kingdom emerges as a key player for food trade, it is because almost 70 percent of it is imported.
A large portion of South Sudan's annual budget is spent on salaries and operational costs with very little on development projects, a local think tank said in a policy paper.
The Jeddah Chamber of Commerce and Industry is hosting a program for training Saudis with high school education or less in coordination with public and private sector agencies.
Figures for construction permits being issued in Beirut dropped slightly by 0.2 percent in 2014. Numbers varied for other cities and towns across Lebanon.
While the UAE's GDP growth rate is above five percent, more job opportunities are emerging. This is why it is vital to keep employees happy.
Dubai could be headed for some optimism in the future with a 5.6 percent rise in growth if the economy continues to say vibrant and healthy.
That old saying, 'There’s no such thing as bad publicity’, probably applies to what the aviation industry has flown through in recent months.
Abu Dhabi has seen a huge rise in Chinese visitors in H1 according to the Abu Dhabi Tourism & Culture Authority following a Chinese Visitor Summit in the Emirate.
It's getting too crowded in the UAE banking sector with too many lenders competing with one another to please a small population, according to a senior banker.
Jordan’s public debt reached over JD20 billion by the end of June, according to recent official data.
Oman's crude oil exports to China have continued to soar amid the economic giant’s rising demand for energy and its increasing reliance on Middle Eastern oil supplies.
Saudi investments in the Sudan are expected to cross $13 billion (SR48.75 billion) in the next few months, particularly following a decision on canceling entry visas for Saudi investors.
The UK's top construction firms have won infrastructure contracts worth $1.65 billion to build roads, hotels, museum projects and drainage networks for World Cup 2022 in Qatar.
August 25, 2014
Dubai's Specialist Services won a contract from Petrofac to build local equipment and control rooms for its Island Surface Facilities Project.
They say it's a sign of good hospitality when you offer visitors a cup of coffee! Saudi Arabia is the largest coffee consuming country in the world with an industry worth $267 million.
The context of the Middle Eastern debt market, bank lending has been a dominant component. The debt issuances, to date have been dominated by the banks and the government related entities (GREs).
World Bank figures showed a decrease in the cost of sending remittances for the U.S. to Lebanon at 10.19 percent in Q2.
Abu Dhabi's leading property development company, Aldar Properties, secured a bulk deal to lease 607 apartments to hospital employees working for a medical clinic.
The Dubai Chamber of Commerce and Industry has joined forces with the Economist Intelligence Unit to check out Sub-Saharan Africa for potential for investment.
Bahrain will overhaul trade laws to increase foreign investment and clean up dispute settlement processes, according to a cabinet meeting hosted by Prime Minister Prince Khalifa bin Salman Al Khalifa.
Dubai's hotel industry welcomed over 5.8 million tourists in the first half of the year with revenues reaching £3.18 billion, up by 10.9 percent.
Facilities Management (FM) services contracts in the UAE could be valued at approximately AED20 billion per annum by next year, according to G4S, a leading global security and outsourcing group in UAE.
Abu Dhabi's Etihad Airways welcomed a review process by Switzerland's Federal Office of Civil Aviation regarding a deal to buy 33.3 percent of Swiss carrier, Darwin Airline.
Saudi Arabia continued to be Dubai’s primary source market as more than 5.8 million tourists stayed in Dubai hotels during the first half of 2014.
The UAE and India are expected to enhance their co-operation in the field of renewable energy and sustainability.
August 24, 2014
A spike in the number of suspicious transactions related to money laundering and terrorism financing has been recorded in Bahrain in the first half of this year, a report said.
Survival of the fittest: Etihad reworking agreement on purchasing Darwin Airlines after Swiss objections
Foca said last week that the current agreement can lead to Etihad controlling Darwin and would be incompatible with statutory provisions.
The oil being sold by Isil ranges between $25 (Dh91.75) per barrel to $60 per barrel compared to the current market prices, which on Friday traded for about $102 for Brent crude.
Thinner screen, tougher requirements? Why Apple suppliers are truly struggling to supply enough screens for next month's iphone 6 lauch
Suppliers to Apple Inc. are scrambling to get enough screens ready for the new iPhone 6 smartphone as the need to redesign a key component disrupted panel production ahead of next month’s expected launch,
In June, a tanker carrying 1 million barrels of Kurdish oil sailed from Ceyhan that was delivered into Israel's Ashkelon port after first being transferred at sea to another vessel.
Two young Lebanese have made their way on to the “35 innovators under 35” list issued by the Massachusetts Institute of Technology to highlight the most promising inventors of the year.
“The Kurds are becoming more confident of their ability to export crude independently of Baghdad.”
The government is the reason behind the continued inability of the petroleum sector to repay dues to foreign partners in return for oil and gas received monthly, said an official at the Ministry of Petroleum
Recent security and economic concerns are pushing more and more Lebanese into depression, according to psychiatrists.
“Today, we are facing enormous challenges on more than one front, foremost of which are the economic challenges,” the King told the attendees, according to a Royal Court statement.
Putting the 'ease of doing business' index to test: all you need to know about setting up a business in Dubai
The UAE is one of the world’s easiest places to do business in, according to the World Bank’s Ease of Doing Business report for 2014.
August 21, 2014
Smartphone users in the UAE and the rest of the Middle East and Africa region are in danger of having their bank, email and social media accounts hacked, amid reports that some 178 million mobile devices are now potentially vulnerable
The case dates back to 2007 and early 2008, when on the introduction of Sarasin-Alpen, the Khorafis purchased structured financial products from Bank Sarasin.
“Mass weddings aim to reduce the expenses of weddings and lift wedding cost pressures from young people and their parents. They also encourage young men to marry early and start building a stable and cohesive family,” she added.
In the UAE, sensitive industry sectors such as the public sector, oil and gas, banking, finance and insurance are all set to drive demand for cloud computing security solutions
For once, the travel warning is the other way around: UAE government warns citizens against Central London
An attached map singled out Edgware Road, the area between Marble Arch and Tottenham Court Road, and the Oxford Circus and Bond Street area.
Egypt is a society, in which sexism is so ingrained in the economic, social, and political system that 50% of the population has, for the most part, been excluded.
Gone with the wind: Jordan cancels plans to build 5 additional wind power plants due to lack of support from the Gulf
The ministry cancelled the projects after failing to secure funds from Arab Gulf states to finance the expansion of the national grid’s capacity.
After the cannons have stopped roaring and an arrangement between Israel and Hamas is emerging, the shekel is suddenly showing weakness.
Sony has announced the launch of what it dubs ‘world’s most waterproof phone’, the Xperia M2 Aqua, a variant of the mid-range Xperia M2.
Getting fancy: Jordan's impending 18-hole golf course to be one of three most eco-friendly in the world
The 18-hole Ayla grass golf course project was designed by Greg Norman, one of the world’s “leading golf course designers.”
Saeed Al-Bassami,has revealed that Saudization is one of the main challenges facing the surface transportation sector in the Kingdom.
August 20, 2014
Internet companies such as Google and Facebook Inc do not offer their services to children under 13, but it is tough to catch users who sign up by providing false information.
Libya may be on the brink of chaos but it is gradually boosting output in the vital oil sector after a crisis blocked export terminals for a year.
This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.
Megaprojects in the pipeline and the ramping up of social infrastructure spend is boosting the market, says new report.
The Glasgow City Council sparked criticism from pro-Israeli circles when it decided to raise the Palestinian flag in the wake of the ongoing conflict between the Israeli regime and the Palestinians in the impoverished Gaza.
Electricity deficit increases to approximately 6,180MW, no solution in sight
Labor Ministry spokesman Tayseer Al-Mufarrej said that the new arrangement was aimed at protecting the interests of both sponsors and workers during their contractual period of employmen
Fully booked for post-sanctions business: Iran's five star hotels are buzzing with Western business delegations
“All the five-star hotels are full of Western companies looking to position themselves to do business."
What doesn't kill you, makes your stronger: why the Arab Bank is likely to emerge from the Israeli lawsuit 'unscathed with flying colors'
Experts and economists believe the bank will emerge unscathed with flying colours, dismissing the case as a political attempt by American Zionist organisations looking to discredit the Palestinian cause.
August 19, 2014
Some international banks have started shrinking in Saudi Arabia even as the kingdom plans to open its $577 billion stock exchange to direct international investment
Thirteen percent of recent Lebanese graduates said that the availability of jobs in Lebanon was ‘moderate’ and none of them considered the availability of jobs in the country to be ‘high.’
Egypt has selected a Saudi consultancy to draw up the plan for the government's mega project to transform the Suez Canal waterway into a hub of international investment and free trade zones.
Prime Minister Abdullah Ensour criticised the JTA for planning the strike, accusing them of playing politics and taking students as hostages to their demands.
Out of character or perfectly in character? President of Jordan's Chamber of Commerce calls on boycott of Israeli goods
In response to brutal Israeli attacks on Gaza, Jordan Chamber of Commerce (JCC) President Nael Kabariti called on Jordanian traders and importers to boycott Israeli goods and ports
Beyond unholy consumption and artificial beaches: what's it going to take for Dubai to become a city of medical tourism?
From VIP packages to the most affordable ones, the packages will cover wellness and seven areas of treatment such as orthopaedic and sports medicine.
The Interior and Labor ministries have stepped up their campaign to drive out residency and labor rule violators across the Kingdom after arresting nearly 8,500 foreigners in the Makkah region over the past two months.
With millions of new property listings appearing online every day, it is an increasing struggle to make yours stand out amongst the crowd.
The Saudi Tadawul All Share Index rose 0.48 percent to close at 10,639.04 points, its highest finish since January 2008 and its 13th gain in the 15 sessions since authorities announced plans to allow direct foreign ownership of shares early next year.
Qatargas is the world's largest LNG producing company with a production capacity of 42 MTA.
Turkey has requested that the United States remove barriers regarding the purchase of oil coming from Iraqi Kurdistan
August 18, 2014
Two oil tankers Minerva Joy and the United Kalavrvta seem to symbolize the future of Iraq and whether it will remain a unified entity or will break up.
Aspiring for to create a 'Silk Road', China and Israel collaborate to present an alternative to the Suez Canal
Promises by Chinese president Xi Jinping to build a “Silk Road” and the Red Med project proposed by Benjamin Netanyahu were renewed this year, raising concerns about negative implications on the Suez Canal.
Over the past years in particular, the economy has diverted from the rules of the free-market economy, which heeds fair and equal competition.
Citizens of the UAE captured the highest portion of property investments in Dubai valued at more than AED12.5 billion ($3.5), the DLD report said.