DHL Express is boosting its service capacity in the Middle East.
Abu Dhabi’s inflation rate edged up 2.1 per cent during the first two months of 2014 compared with the same period last year while it increased 2.5 per cent in February, new data has shown.
Bahrain's Gulf Hotels Group is investing $132 million to develop a five-star Gulf Hotel Business Bay on Dubai's shores
Members of UAE's Federal National Council are in process of drafting a law that will encourage, train and organise Emiratis to become tour guides with incentives and specialised training programmes.
Strong economic recovery and domestic political stability will continue to attract more entrepreneurs and foreign capital to the UAE.
Three stations will be constructed at the Jeddah Islamic Seaport enabling the Saudi Landbridge train project to cover all of the companies operating in the port.
U.S. exports to the UAE reached $26.9 billion in 2013 as a result of increased trade in the transportation sector.
As Gulf countries diversify their economic portfolios in an effort to expand beyond their oil industries, public-private partnerships may serve as a key way to transition economies from the sole oil model to growing, innovative sector development.
Over the next five years, Oman will award engineering, procurement and construction (EPC) contracts worth $65 billion.
MENA retail investors in the eying art as a standalone asset class owing to the market maturity and support infrastructure that is now in place, according to experts.
March 11, 2014
Saudis spend nearly $1.6 billion a year on energy drinks. With the recent announcement of a ban on the industry, questions may be asked as to how limiting this billion-dollar consumption habit may affect KSA's economy.
One of the world's leading property and insurance companies AIG is set to expand in Egypt.
The announcement of a $40 billion (AED150bn) deal to build low-cost housing in Egypt is good news for that country and for the UAE, commented a local daily.
Kuwait’s government spending rose eight per cent in the first 10 months of this fiscal year compared with the same period the previous year but is still far below its initial plan, preliminary finance ministry figures showed.
Dubai has launched the world's first purpose-built smart retail hub "matajircom" Monday in conjunction with Economic Zones World and Dubai Customs.
Jordan's Atomic Energy Commission is planning to sign two agreements with Russia's Rosatom to establish the country's first nuclear reactor.
The Saudi construction sector is poised for significant growth over the next few years thanks to the boom in contract awards and ongoing construction activities coupled with healthy lending appetites by bank.
Blame it on the women: Why KSA businesses are saying govt feminization program costing them millions
KSA businesses are saying that they have lost an estimated $213 million (SR800 million) from the government's feminization program.
While most headlines talk about profits in the UAE, here is one field that is not-so-successful in the Emirates these days: personal computer sales.
Kazakhstan government will call upon UAE businessmen to invest in around 77 projects at a value of $5 billion.
CEOs in Saudi Arabia are the highest paid executives among all GCC countries, according to a new report.
UAE's retail sector will grow nearly 33 percent by 2015, according to new reports.
March 10, 2014
Emirates Airline launched daily services to Boston Monday in partnership with its US carriers.
South Sudan's foreign minister Barnaba Marial Benjamin and his Egyptian counterpart, Nabil Fahmy met on Saturday and explored ways of expanding economic ties and trade relations between the two nations.
A new era of GCC power relations? UAE, Oman, Iraq now represent 60% of regions’ upstream oil transactions
The combined number of oil and gas transactions in the UAE, Oman, and Iraq represented almost 60 per cent of the total number of upstream transactions in the Middle East during 2013.
Ibrahim NaffeeThe new King Abdulaziz International Airport (KAIA) will create job opportunities for over 3,500 Saudi men and women in shops, restaurants and hotels at the airport, according to tourism experts.
The Gaza strip's sole power plant is expected to cease operations within days after the territory finishes its last and final shipment of Qatar-donated diesel.
Egypt has awarded UAE's Arabtec Holding the bid to construct the one million housing units that are part of Cairo's $40 billion nationwide housing initiative.
Apple's iPhone 5 is the most commonly used smartphone in the UAE and more than half of the country's population owns a smartphone
Iraq's Oil Minister told media outlets this week that Baghdad is ready to double its crude oil exports to Jordan at "preferential prices."
Despite the drastic turn down in Lebanon's tourism industry, investors are still keen to continue developing their own projects within the industry and use creative strategies to "get the market back on track."
Dubai’s non-oil foreign trade reached Dh1.329 trillion in 2013, an eight per cent increase over Dh94 billion over 2012.
Dubai has announced that it is launching its first smart eco-friendly city project called "Silicon Park," estimated to be worth $300 million.
Dubai Exports is planning to issue an online Halal Index that lists all UAE firms that employ halal practices
March 9, 2014
Lebanese President Michel Sleiman continues to emphasize privatization as a way to save the country's economy, but how sustainable would such policies be in the country's future?
Kuwait real estate sales was an estimated $1.1 billion in January. However, despite such strong figures, the estimates represents a slight downfall from a strong record month in December.
The clash between Jordan's economic policies and the poverty realities on the ground is putting this MENA country "between a rock and a hard place."
The Department of Finance- Abu Dhabi (DoF) has announced the signing of a loan agreement with The Republic of Serbia, providing the country a loan of $1 billion.
Oman has set a target to increase by 15 per cent the value of its non-oil exports this year.
Oman could emerge as a regional leader in solar technology after Middle East's first solar enhanced oil recovery (EOR) project at PDO’s Amal West field in southern Oman became a success.
The construction of the region's first eco-friendly mosque in Dubai is 85 percent complete and set to open in the near future, say new reports.
A new report released this week projects that the world's wealthiest will spend more on luxurious goods in 2014, representing key investment opportunities for Qatar, UAE and Saudi Arabia who top the "Luxury Opportunity Index."
Gulf economies are allegedly in their "golden era" of prosperity and profit, but how long will this success last and is it sustainable?
UAE's Marka announced this week that it is planning an initial public offering on the UAE stock market after receiving preliminary approval from the country's Securities and Commodities Authority.
Dubai's rising property prices may be more of a risk than economists originally believed, say experts.
March 6, 2014
Qatar airways will launch daily flights to Tokyo starting in mid-June this year.
Gulf investors are in talks with a British firm to develop the next era of supersonic jets that would move passengers from New York to London within...2 hours!
Bahrain is ready to "re-assert itself" as a "regional powerhouse" in the oil and gas sector.
Real estate data for Kuwait in January show sales rising by 24 per cent y/y to KWD 315 million. In its latest Economic Updated, NBK said sales fell in m/m terms, but only after a very strong December.
Abu Dhabi is aiming to become a "global aerospace hub that provides an end product to plane manufacturers," according to manufacturing executives based in the UAE.
The strategy for transforming Dubai into a smart city was rolled out yesterday in the presence of Shaikh Mohammad and Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, at the Dubai World Trade Centre.
A UAE move will boost India’s ambitious project of establishing 5.03 million metric tonnes (MMT) strategic crude oil storages.
Amazon’s customer feedback feature is considered of high importance for Arabian Oud as it plays a major role in attracting new customers
Isn't it supposed to be the exporter here? With its slow progress, Iran forced to triple gasoline imports
Iran sits on the world’s largest gas reserves, according to estimates by BP, and Iranian energy officials have boasted for years about becoming a top gas exporter soon.
“Around 34 percent of the youths are jobless while they constitute 66 percent of total unemployed in Lebanon,” he said.
For the first time official data reveals the Middle East's facebook and twitter trends, expect the unexpected!
Facebook has published data related to the Middle East and North Africa region for the first time
Nothing gentle here: Moody's tells GCC states to brace themselves for a 'gentle decline in oil prices'
The effects on the economies of Gulf Cooperation Council (GCC) countries would be negative to neutral under an adverse scenario in which oil prices decline to $90 per barrel (pb) by 2020
March 5, 2014
With the Egyptian blockade, is Hamas in deep financial trouble? Well, its employees are complaining about not being paid
The tunnels’ closure has meant losses of millions of dollars in tax income for the Hamas government.
The list of the top ten highest salaries in the UAE reveals that they are not as high as they once were
When it comes to salaries: the Expo 2020 effect in Dubai “hasn’t yet kicked in” added Clayton.
He said another revolution, in the national mentality, was required to pull the economy up warning that “if we do nothing, there could be a catastrophe”.
Malaysia is aiming to increase medical tourism from the UAE between 15-20 percent in 2014.
Saudi tourists are becoming a game-changer in Dubai's tourism sector.
UAE-based Bee'ah introduced the region's first solar-powered water surface cleaning boats in Sharjah.
GCC's growing education sector is set to face a manpower gap of 200,000 by 2015.
Coca-Cola pledged $500 million to Egypt over the next three years earlier this week.
Hotels in Dubai attracted over 11 million guests in 2013, representing a 10.6 per cent increase (or more than one million guests) over 2012.
The high dividends paid by Lebanese banks are among the reasons for the rising demand for stocks of local lenders.
Around 57,000 educators need to be hired in the UAE by 2015 to fill the current manpower gap in the education sector.
The ministry will aim to “correct the image of the security situation in Egypt and encourage tourists to return
The developer, which gave away yachts and sports cars to buyers of its luxury properties during the downturn, said it booked sales worth $2.5 billion in 2013, compared with only $661 million the previous year.
March 4, 2014
The beginning of many more to come, nshallah: First female investment bank CEO named in Saudi Arabia
Saudi Arabia’s National Commercial Bank (NCB) has appointed Sarah Al-Suhaimi as chief executive of its investment banking arm.
Egypt's foreign reserves have increased for the second consecutive month, with a net amount of $17.3 billion at the end of February reported by the Central Bank of Egypt this Tuesday.
You probably know the first, but here are Forbes' revelations on the Arab world's top ten billionaires!
In its list this year, Forbes features a total of 1,645 billionaires with an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago.
Abu Dhabi's Department of Transportation has begun work on its nearly $9 billion adaptive traffic control central system.
All GCC economies with the exception of Bahrain are expected to see a rise in inflation this year, according to Moody's Investor Service this week.
GCC is set to outpace all other regions globally between 2012 and 2032 in air passenger and air cargo traffic.
GCC nationals are rushing to buy real estate in Oman.
Dubai’s Road and Transport Authority (RTA) will take up a number of top projects in 2014, including the Dh2 billion ($544 million) water canal project, which will link the Business Bay in Dubai with the Arabian Gulf.
Iranian Foreign Minister Mohammad Javad Zarif says a final settlement to the decade-old dispute over Iran's nuclear energy program would be possible within the next five months.
In the GCC, economic growth will remain firm overall in 2014 despite gradual decline in oil prices.
Middle East fund managers are highly reluctant to raise their equity allocations in Turkey due to the political turmoil and currency volatility
Gulf stock markets slid on Monday as a heightened threat of armed conflict between Ukraine and Russia triggered widespread selling, despite the benefit of higher oil prices to Gulf energy exporters.
Thank you Gulf states? Nope, not this time! Egypt's trade deficit falls due to fall in exports and imports
The figure represented a 12 percent drop compared to the same month in 2012, when the deficit stood at LE26.7 billion ($3.8 billion).
With some governorates having no rice for distribution for many months in a row, Abdel Khalek suggested that Egyptians begin making mahshy, the rice-stuffed vegetable dish, with the orzo-like pasta, lissan asfor (sparrow’s tongue in Arabic), instead of rice. He proposed distributing pasta to make up for the food programme’s inability to secure and distribute rice.
March 3, 2014
They discussed means to boost economic relations between the two countries and their private sectors, in particular.
QDB will provide 70% of the investment for each project with a maximum loan of QR100mn
There are 18 Israelis in "Forbes" 2014 Billionaires list, which was published today.
Ukrainian Prime Minister Arseny Yatseniuk said Moscow's move to use military force was a "declaration of war" by Russia, one of the world's biggest oil producers.
Saudi Arabian contractors are calling on their Egyptian counterparts to overcome their worker shortages, according to reports this week.
Jordan's energy sector leadership says 2018 will be the year for the Kingdom to "reap the fruits" of its multibillion-dollars worth of investment in local oil production and generating electricity using clean techniques.
Flydubai's 2013 net profit increased 47 per cent in comparison to its 2012 figures
Dubai stocks have edged even lower this week after "four-day rally" of investor profits. So what is the reason for the downturn?!
Bank Muscat is planning to issue its first Islamic bond by September, representing the first sukuk issue of an Omani bank.
GCC banks must better manage their capital and liquidity positions or face substantial shortfalls, according to a recent study by Booz & Company.
Facebook's acquisition of WhatsApp has raised concerns among its users in Oman, especially after messages doing the rounds about changes in the messenger's privacy rules.
Around 277,000 guests checked into Abu Dhabi’s 149 hotels and hotel apartments in January this year, marking a 36 per cent increase on January 2013.
Hong Kong is the world’s most expensive city for companies to locate employees, significantly ahead of London and New York, which have been vying for second place over the past two years.
The five factors standing in the way of Saudis thinking of taking up employment in the private sector were revealed in a recent research and survey conducted by the Central Department of Statistics and Information (CDSI).
“We’re working on some things that are extensions of things you can see and some that you can’t see,” Cook said at the annual meeting, referring to a 32 percent increase in research and development costs last year.
The increase is likely to restore some confidence in Iraq's oil revival, which got under way in 2010 after decades of sanctions and war, but slowed last year due to technical and security problems.