A Dubai developer plans to recreate a tropical rainforest under a dome in the desert sheikhdom, adding to a collection of spectacles that include an indoor ski slope and the world’s tallest building.
Israel intends to invite oil companies to bid for 10 oil blocks in the Golan Heights that are 60 kilometers away from the Lebanese border.
Egypt's military could help build an industrial hub around a new Suez Canal, the project's manager said, the first suggestion that the armed forces may play an important role in the huge investment venture planned alongside the new waterway.
February 26, 2015
Jordan and Israel signed a deal on Thursday to build a pipeline to link the Red Sea with the shrinking Dead Sea and combat regional water shortages.
The latest came from UAE-based Mashreq, which announced on Thursday the launch of a ‘selfie’ credit card, in a bid to capture younger customers.
Up to 40 per cent of HR directors plan to recruit staff in the UAE in the first six months of 2015, with their companies set to add new positions, according to a new study.
The United Arab Emirates’ civil aviation regulator has given approval for local carriers to resume flights to Baghdad.
A proposal by Qatar's Investment House for a QR750 million ($206 million) flotation of an agricultural firm has been shelved by regulators.
Opec kingpin Saudi Arabia is feeling vindicated after a strategy of allowing oil to flood the market has begun to achieve what it was aiming for.
Plans for the multi-million dinar development of Bahrain's east coast are being drawn up with one eye on the Fifa World Cup due to take place in Qatar in 2022, a report said.
Iran has started work on its €2.4 billion ($2.73 billion) high-speed railway network, which will extend about 400 km from capital Tehran to the city of Isfahan, said a report.
We’ve been hearing for some time that Dubai rents are going to drop by about 5 per cent this year, but new data released by a property consultant on Sunday showed that a few locations have already started to see a slight decline in rates.
There are growing signs that Dubai may be considering an Olympic bid in the near to medium term.
Following last year’s surprise move by Opec (Organisation of Petroleum Exporting Countries) to counter the growing US shale oil industry, crude prices have plunged to below $55 a barrel.
The Ministry of Tourism and the Egyptian Tourism Promotion Authority (ETPA) are set to launch Thursday evening a promotional campaign entitled “Misr Qareeba” (Egypt is Close).
QAIA has registered unprecedented improvements in all 36 listed services and facilities in both categories.
Yemeni ex-president Ali Abdullah Saleh is suspected of corruptly amassing as much as $60 billion, equivalent to Yemen's annual GDP.
February 25, 2015
A team from the International Monetary Fund (IMF) is carrying out a two-week review of Jordanian economic reforms.
In fact, there is no such thing as normal. Or to put it another way: normal is the messy, inconsistent way we get through life.
Shale oil producers are throttling back so quickly on drilling that US crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Gulf rivals.
As Saudi Arabia has this key difference, it is important to understand the essential principles guiding construction contracts in the kingdom.
Tuesday's recommendation to stage it over November and December is probably the best option for all -- even though Europe's major clubs disagree.
U.S. drone makers are expecting a surge in sales of military and civilian drones to Gulf states after the State Department eased export rules last week.
Mobily’s rise was remarkable. It turned profitable in 2006, a year after launching operations, and annual profits soared 854 per cent between then and 2013.
Turkey's flag carrier Turkish Airlines said on Wednesday it plans about $3.74 billion worth of investment this year, including spending plans by its subsidiaries.
As the Gulf region continues to grow and businesses expand, we are seeing huge competition for new talent and a focus on sustainable labour costs.
Figures showed an increase in housing and utility prices in all the GCC countries in December last year when compared with 2013 figures.
Ooredoo Kuwait, the country’s No.3 mobile operator by subscribers, blamed on Monday foreign exchange losses, investments in Algeria and restructuring costs in Tunisia for wiping out its fourth-quarter profit.
US politicians are pushing to lift the country’s ban on crude oil exports, a move that if successful would challenge Saudi Arabia’s long held dominance over the global oil market.
"Markets are calm now ... demand is growing," Al-Naimi told reporters on the sidelines of a conference in the port city of Jizan, southwest Saudi Arabia.
what makes Dubai stand out is the Dubai Smart City initiative, which aims to make Dubai one of the world’s best-connected, smartest, and happiest cities by 2017.
The supply of an estimated 14,000 new residential units in 2015 is expected to soften Dubai’s rents that had soared by up to 65 per cent since 2011.
Themed "Internationalisation Strategies for Islamic financial Institutions," the meeting was attended by senior Islamic bankers and international experts from more than 15 countries.
February 24, 2015
The Central Bank of Jordan (CBJ) said Monday it was working on several fronts with various stakeholders to facilitate extending credit to small- and medium-sized enterprises (SMEs).
Eighty nine percent of respondents in the Middle East and North Africa (MENA) consider creativity and innovation to be an important part of their life
It is not uncommon for people to misunderstand the cost of living of a place to which they are relocating, returning or visiting.
With sector sales volumes dipping, new demands are placing an extra burden on them
Egypt hopes to halt liquefied natural gas imports in 2020, Oil Minister Sherif Ismail said on Monday, as projects to develop its own gas fields are completed.
The United Arab Emirates (UAE) has signed a combined Dh9.48 billion ($2.58 billion) of defence deals on the first two days of the International Defence Exhibition and Conference (Idex 2015),
The sale would be in accordance with Basel III banking rules and the final amount and currency of the offering would be decided by the board at a later date,
Obi Mobiles, co-founded by former Apple CEO John Sculley, is among the seven most popular smartphone brands in the UAE market.
More than half of business and government leaders in the Mena region identify cyber security as a strategic priority, compared to only 23 per cent in the US and 36 per cent in UK/Europe,
Desperate for a blessing? Russia to open first Islamic bank, looks to Shariah funds to offset sanctions
Russia plans to open its first Islamic bank this year, seeking to attract Shariah-complaint funds as international sanctions push the economy toward a recession.
Companies in the United Arab Emirates and Qatar invested about 160 million euros ($200 million) this season, almost a quarter of the total spent by companies worldwide sponsoring the shirts in Europe's top six leagues.
Brent edged above $59 a barrel on Tuesday after a 2-per cent slide the session before, buoyed by cautious optimism on the outlook for the global economy.
Two people died and at least 13 were injured after an explosion at a factory belonging to Gulf Oil Corporation Limited in Hyderabad.
Gulf equity markets were mostly soft Monday after oil prices pulled back again.
While the current oil prices are below most GCC countries’ fiscal break-even point, governments generally have the resources to help mitigate the immediate impact and maintain a supportive operating environment for economies.
The number of new homes under construction in Jewish settlements on the Israel-occupied West Bank rose last year by 40 percent.
February 23, 2015
Cyprus and Greece which are struggling following economic bailouts are looking to attract investors from the UAE.
The Labor Ministry has forced the minimum wage on the private sector to make sure that Saudis will not be exploited, the same should be done for expats.
The country produced 40 million tons of petrochemical products since the beginning of current Iranian year.
Iran has transferred 38.471 trillion rials (about $1.127 billion) worth of shares of state-run companies to the private sector since the beginning of current Iranian calendar year.
The cost of the Suez Canal Development Project’s infrastructure is expected to be $15bn,
The United States and Iran are shaping the contours of a deal that would initially freeze Tehran's nuclear program but would allow it to slowly ramp up activities.
Mobile and landline calls between telecom service providers will now be cheaper after the Board of Directors of the Communications and Information Technology Commission (CITC) approved a reduction in rates.
A new study on corporate leadership has revealed that less than half (48 per cent) of employees surveyed in the UAE have trust and confidence in their senior leaders.
The Syrian government does not expect to import wheat this year because domestic grain supplies will be boosted by heavy rainfall and wider control over farmland, a minister said.
About eight out of 10 people (83 per cent) in the UAE are now feeling anxious that their gratuity pay won't be sufficient to meet their retirement needs.
From Michael Kors to Victoria’s Secret and Tory Burch, City Stars' entire floor is a line-up of the most luxurious brands in the world.
Shipping corridors used by Gulf energy exporters are not at risk from violence and political volatility in Yemen and the seizure of swathes of territory in the region by Islamic State militants.
Qatar Airways, the national carrier of Qatar, has introduced Durban to its list of destinations in South Africa – its third route to the country following Johannesburg and Cape Town.
Egypt has raised sales taxes on cigarettes for the third time in a year, according to a presidential decree published in the country's official gazette on Saturday.
Turkey is planning to offer citizenship to Saudi investors, Turkish Deputy Prime Minister Ali Babacan said here on Sunday.
"Saudi Arabia will be the next frontier after the US, where shale and unconventional will make a significant contribution to our energy mix, especially gas."
Egypt will hold an international auction for eight oil and natural gas exploration blocks in the Mediterranean Sea.
The all-new Mercedes AMG GT and GT S were unveiled for the first time in Bahrain last night (February 21) by Al Haddad Motors.
February 22, 2015
Dubai’s residential rents are poised to soften in 2015 due to additional supply entering the market, according to a new report by property consultant Asteco.
A government whistleblower who tweets under the pseudonym Fuat Avni argued on Tuesday that most lenders in Turkey are vulnerable to being seized by the government.
Lured by the snowy mountains and skiing season, the number of visitors to Lebanon in January 2015 increased by 22.6 percent compared with the same month in 2014.
Air traffic control is a seemingly invisible concept, and as such it’s often forgotten about.
And as time moves forward, mobile computing will continue to be a double-edged sword for IT departments.
The 4G-LTE network is set to cover more than a third of the global population by the end of the year as 4G deployments continue to accelerate across the world, according to new data.
Rolls-Royce is developing an all-new model with exceptional presence, elegance and purpose, featuring the luxury of a Rolls-Royce in a vehicle that can cross any terrain.
Projects worth around $200 billion (Dh734.47 billion) were cancelled globally in the last three months due to falling oil prices.
Residential property rents in Qatar have increased 20 per cent over last year, but the oil price crash may help stabilise the market and prevent an unreasonable further hike, according to a report.
The company said that Egyptian spending in the first 15 days of the festival amounted to $10.18m, an increase of 52% compared to their spending in the same period last year.
India's Kalyani industrial group announced on Thursday a "substantial" joint venture with Israel to make missiles and other weapons.
Fifty-year-old farmer Abdelrahman Abu Tir, whose name coincidentally translates as "father of the bird", has for the last three years been farming ostriches for meat in a project unique in the Palestinian Territories.
A five-member consortium has received a ‘Letter of Conditional Acceptance’ from the Qatar Railways Company for a systems package of the Doha Metro.
The desert here may not grow tea commercially, but a factory by the sea in Dubai is en route to having the largest stand-alone tea facility that supplies to the rest of the world,
Moody’s cut Russia’s debt rating by one notch into ‘junk’ territory Friday, saying the Ukraine crisis and the fall in oil prices and the ruble will further undermine Russia’s economy.
Yemen’s foreign exchange reserves have stabilised after a steep fall due to its political turmoil, but ballooning government debt issuance indicates the country may be moving closer to a fiscal crunch, central bank data showed on Friday.
February 20, 2015
Hyatt Hotels fourth quarter revenue also hurt by strong dollar.
February 19, 2015
State oil giant Saudi Aramco is talking to banks about taking a $10 billion loan for general business purposes.
Qatar said Thursday it will introduce a major labour law reform to ensure thousands of workers building venues for the 2022 World Cup are paid on time.
Dubai is putting out the red carpet for skilled professionals — the “innovators” so to speak — in select industries with the granting of immediate residency via the purchase of property in the emirate
The oil sector is restructuring after the collapse of oil prices and opportunities may emerge for larger players wishing to snap up distressed companies.
The Gulf Cooperation Council (GCC) countries region is fast becoming a lucrative place for banks and wealth managers to do business.
If you are planning to ask for a salary increase this year, it is important to know what you’re worth before talking to your manager about it.
Prime Minister Abdullah Ensour on Wednesday met Egyptian Minister of Petroleum and Mineral Resources Sherif Ismail and discussed means to improve cooperation.
The participants at the second Global Restaurant Investment Forum today believe there may be room for more. Has the market not become rather saturated?
Swiss authorities on Wednesday raided British banking giant HSBC’s Swiss unit as part of a money laundering probe into the bank that has been accused of helping clients to dodge millions of dollars in taxes.
Brent crude oil prices slipped below $59 a barrel on Thursday after another big weekly build in U.S. crude inventories and a possible rise in Saudi output stoked worries about oversupply.
Business meets politics, again: Gulf carreir chiefs publicly lash out at Delta CEO over 9/11 comments
Chief executives of Gulf carriers Emirates and Qatar Airways have criticised Delta CEO Richard Anderson for involving the 9/11 terrorist attack amidst a commercial dispute.
The rise of the Islamic State (IS) in Iraq and Syria presents a major challenge for the investment necessary to prevent an oil shortage in the next decade.
Paris hopes the 5.2 billion euro ($5.9 billion) deal for 24 Rafale fighters to be delivered later this year -- which comes as Cairo launched air strikes against jihadists in Libya.
Online professional networking site LinkedIn has launched an Arabic version of its site, in order to cater to the rising young population in the Arab region.
The deal would help Pakistan tackle serious energy shortages and power cuts which can last up to 20 hours a day.
February 18, 2015
Egypt and Jordan yesterday announced that they planned to sign memoranda of understanding to import gas from other countries.