Al Bawaba - Business http://www.albawaba.com/business/%2A en Yemen clamps down on public spending, bans business class travel for ministers http://www.albawaba.com/business/yemen-poverty-economy-589793 <p class="p1">Yemen’s president unveiled a clampdown on public sector spending on Thursday, including a feasibility review of state-owned companies and a ban on all but economy class travel for ministers in the impoverished Arabian Peninsula country.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/yemen-poverty-economy-589793" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Bread_crisis_in_Yemen.JPG" alt="Yemen has struggled to pay public sector salaries and finance food and energy imports, which has led to power cuts and fuel shortages" title="Yemen has struggled to pay public sector salaries and finance food and energy imports, which has led to power cuts and fuel shortages" class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.tradearabia.com/" title="Trade Arabia" target="_blank"><img src="http://pub.syndigate.info/logos/small/6.png" title="Trade Arabia" border="0" /></a> Copyright 2014 Al Hilal Publishing & Marketing Group </div> </div> </div> <p><a href="http://www.albawaba.com/business/yemen-poverty-economy-589793" target="_blank">read more</a></p> http://www.albawaba.com/business/yemen-poverty-economy-589793#comments BUSINESS Economy & Trade Main headlines Yemen Sun, 13 Jul 2014 03:55:49 +0000 589793 at http://www.albawaba.com True competition with Saudi Arabia? Iran promises an economy independent of oil http://www.albawaba.com/business/iran-sanctions-589789 <p>Finance and Economic Affairs Minister Ali Tayyebnia says Iran will no longer promote an oil-based economy even if t<a href="http://www.albawaba.com/business/iran-us-deal-relief-547589" target="_blank">he economic sanctions which have been imposed against the country are totally lifted.</a>&nbsp;Too much reliance on oil revenues has been the source of low economic growth over the past years, the IRNA news agency quoted Tayyebnia as saying on Saturday.&nbsp;“Although the unfair sanctions have fettered the country’s economic activities, but it also</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/iran-sanctions-589789" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Crude-Oil.jpg" alt="Historically, Iran’s economy has been heavily dependent on oil, and the fluctuations of oil prices and exports over the years have directly influenced the government’s budgets and actions. " title="Historically, Iran’s economy has been heavily dependent on oil, and the fluctuations of oil prices and exports over the years have directly influenced the government’s budgets and actions. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.tehrantimes.com" title="Tehran Times" target="_blank"><img src="http://pub.syndigate.info/logos/small/1312.png" title="Tehran Times" border="0" /></a> © 2014 TehranTimes. All Rights Reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/iran-sanctions-589789" target="_blank">read more</a></p> http://www.albawaba.com/business/iran-sanctions-589789#comments BUSINESS Main headlines Oil & Energy Iran Sun, 13 Jul 2014 03:55:25 +0000 589789 at http://www.albawaba.com The deadlock deepens, Kurdistan seizes two oil fields, state-owned oil company http://www.albawaba.com/business/kurdistan-economic-autonomy-589795 <p>Kurdish forces seized two oilfields in northern Iraq and took over operations from a state-run oil company on Friday, while Kurdish politicians formally suspended their participation in Prime Minister Nuri al-Maliki's government.The moves escalated a feud between the Shi'ite-led central government and the autonomous Kurdish region driven by a Sunni insurgency <a href="http://rt.com/op-edge/fragmentation-iraq-possible-534/" target="_blank">which threatens to fragment Iraq along sectarian and ethnic lines three years after the withdrawal of US troops.</a></p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/kurdistan-economic-autonomy-589795" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/kurdistanoil.jpg" alt=" Efforts to reach agreement on a new government in Baghdad to confront the insurgents have been complicated by the tensions between Maliki and the Kurds." title=" Efforts to reach agreement on a new government in Baghdad to confront the insurgents have been complicated by the tensions between Maliki and the Kurds." class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.tradearabia.com/" title="Trade Arabia" target="_blank"><img src="http://pub.syndigate.info/logos/small/6.png" title="Trade Arabia" border="0" /></a> Copyright 2014 Al Hilal Publishing & Marketing Group </div> </div> </div> <p><a href="http://www.albawaba.com/business/kurdistan-economic-autonomy-589795" target="_blank">read more</a></p> http://www.albawaba.com/business/kurdistan-economic-autonomy-589795#comments BUSINESS Main headlines Oil & Energy Iraq Sun, 13 Jul 2014 03:55:15 +0000 589795 at http://www.albawaba.com Starting with whale meat, Japan launches halal tourism http://www.albawaba.com/business/whale-meat-589799 <p class="p1">Prayer rooms, hijabs made from local silk and <a href="http://www.japantimes.co.jp/news/2014/07/11/national/halal-whale-meat-menu-japan-tries-boost-muslim-tourism/" target="_blank">even halal-certified whale meat</a> are appearing in Japan as tourism bosses wake up to the demand from Muslim travellers.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/whale-meat-589799" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/halal_icon_march2014.jpg" alt="Chinese tourist numbers have recovered from their plunge following the 2012 eruption of the spat between Beijing and Tokyo over islands in the East China Sea. " title="Chinese tourist numbers have recovered from their plunge following the 2012 eruption of the spat between Beijing and Tokyo over islands in the East China Sea. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.jordantimes.com" title="The Jordan Times" target="_blank"><img src="http://pub.syndigate.info/logos/small/62.png" title="The Jordan Times" border="0" /></a> © Copyright The Jordan Times. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/whale-meat-589799" target="_blank">read more</a></p> http://www.albawaba.com/business/whale-meat-589799#comments BUSINESS Featured Articles Tourism & Hospitality Japan Sun, 13 Jul 2014 03:55:11 +0000 589799 at http://www.albawaba.com The 'Egyptian Dream': is sacrifice a necessary requirement for Egyptians to achieve a better standard of living? http://www.albawaba.com/business/egypt-economic-aspirations-589792 <p>In principle, every citizen deserves a better life; why<a href="http://www.albawaba.com/business/sisi-austerity-562088" target="_blank"> should people suffer if their lives can be improved</a>? However, a better life won’t be dished out and served up on a golden plate. To lead better lives, citizens should not only work hard, they must abide by a number of values that are critical to the enhancement of their standard of living.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/egypt-economic-aspirations-589792" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/An_Egyptian_621.jpg" alt="In their efforts to satisfy their individualistic desires, Egyptians are happy to achieve the tiniest self-realisation at the cost of the country’s welfare. " title="In their efforts to satisfy their individualistic desires, Egyptians are happy to achieve the tiniest self-realisation at the cost of the country’s welfare. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.thedailynewsegypt.com/" title="Daily News Egypt" target="_blank"><img src="http://pub.syndigate.info/logos/small/11.png" title="Daily News Egypt" border="0" /></a> © 2014 Daily News Egypt. </div> </div> </div> <p><a href="http://www.albawaba.com/business/egypt-economic-aspirations-589792" target="_blank">read more</a></p> http://www.albawaba.com/business/egypt-economic-aspirations-589792#comments BUSINESS Economy & Trade Featured Articles Egypt Sun, 13 Jul 2014 03:55:04 +0000 589792 at http://www.albawaba.com Egypt marks the end of subsidies with $6.3 billion in debt to foreign oil and gas companies http://www.albawaba.com/business/egypt-subsidies-debt-589800 <p><a href="http://online.wsj.com/articles/egypt-to-repay-some-of-the-5-9-billion-it-owes-energy-firms-1403789925" target="_blank">Dues owed to foreign oil companies </a>reached a total of $6.3bn this July, compared to $6bn at the end of April, according to Tareq Al-Mula, president of the Egypt General Petroleum Corporation (EGPC).</p> <p>The government will pay at least $1.5bn of these receivables to these foreign companies by the end of the year 2014, according to previous statements by Sherif Ismail, Minister of Petroleum.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/egypt-subsidies-debt-589800" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Crude-Oil.jpg" alt="A number of foreign partners have reduced investments in the sector for the upcoming period, which will cause average natural gas production to stabilise." title="A number of foreign partners have reduced investments in the sector for the upcoming period, which will cause average natural gas production to stabilise." class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.tehrantimes.com" title="Tehran Times" target="_blank"><img src="http://pub.syndigate.info/logos/small/1312.png" title="Tehran Times" border="0" /></a> © 2014 TehranTimes. All Rights Reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/egypt-subsidies-debt-589800" target="_blank">read more</a></p> http://www.albawaba.com/business/egypt-subsidies-debt-589800#comments BUSINESS Main headlines Oil & Energy Egypt Sun, 13 Jul 2014 02:14:19 +0000 589800 at http://www.albawaba.com 'Breakthrough' in public wages expected in Lebanon next week http://www.albawaba.com/business/breakthrough-public-wages-expected-lebanon-next-week-589584 <p>Breakthrough in the long-running crisis over public workers’ salaries is expected next week, a ministerial source revealed to The Daily Star Thursday.</p> <p>“We are close to an agreement on holding a Parliament session on July 17 to pass laws adopting the new salary scale and government expenditures,” the source said.</p> <p>The ministerial source spoke after Cabinet failed Thursday to resolve the thorny issues of the Lebanese University’s contract professors and extra-budgetary spending.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/breakthrough-public-wages-expected-lebanon-next-week-589584" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Beirut_lebanon.jpg" alt="“We are close to an agreement on holding a Parliament session on July 17 to pass laws adopting the new salary scale and government expenditures,” the source said. Read more: http://www.dailystar.com.lb/News/Lebanon-News/2014/Jul-11/263496-wage-hike-breakthrough-expected-next-week.ashx#ixzz377kRp4Ue (The Daily Star :: Lebanon News :: http://www.dailystar.com.lb) " title="“We are close to an agreement on holding a Parliament session on July 17 to pass laws adopting the new salary scale and government expenditures,” the source said. Read more: http://www.dailystar.com.lb/News/Lebanon-News/2014/Jul-11/263496-wage-hike-breakthrough-expected-next-week.ashx#ixzz377kRp4Ue (The Daily Star :: Lebanon News :: http://www.dailystar.com.lb) " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.dailystar.com.lb/" title="The Daily Star" target="_blank"><img src="http://pub.syndigate.info/logos/small/23.png" title="The Daily Star" border="0" /></a> Copyright © 2014, The Daily Star. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/breakthrough-public-wages-expected-lebanon-next-week-589584" target="_blank">read more</a></p> http://www.albawaba.com/business/breakthrough-public-wages-expected-lebanon-next-week-589584#comments BUSINESS Economy & Trade Main headlines Lebanon Fri, 11 Jul 2014 02:42:22 +0000 589584 at http://www.albawaba.com Beirut, Dubai take the lead: new survey reveals the Middle East's most expensive cities for expats http://www.albawaba.com/business/cost-of-living-me-589582 <p><a href="http://www.albawaba.com/business/uae-rents-2014-543553" target="_blank">Rising housing costs has pushed Dubai </a>up the rankings in an annual survey of the most expensive cities in the world for expatriates to live in.</p> <p>Dubai is ranked as the 67th most expensive city for expats among 211 cities across the globe, having shot up 23 places from 90th in 2013, according to the 2014 Cost of Living Survey released by human resources consultancy, Mercer, on Thursday.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/cost-of-living-me-589582" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Beirut_Rauche.jpg" alt="The world’s most expensive cities for expats are both in Africa. Luanda in Angola is ranked first for the second year, followed by N’Djamena in Chad. " title="The world’s most expensive cities for expats are both in Africa. Luanda in Angola is ranked first for the second year, followed by N’Djamena in Chad. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.gulfnews.com" title="Gulf News" target="_blank"><img src="http://pub.syndigate.info/logos/small/57.png" title="Gulf News" border="0" /></a> © Al Nisr Publishing LLC 2014. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/cost-of-living-me-589582" target="_blank">read more</a></p> http://www.albawaba.com/business/cost-of-living-me-589582#comments BUSINESS Economy & Trade Main headlines UAE Fri, 11 Jul 2014 02:38:25 +0000 589582 at http://www.albawaba.com Revealed: the top ten paid individuals in the UAE http://www.albawaba.com/business/dubai-salaries-589580 <p>The 10 highest earning chief executives in the UAE make several million dirhams a year, taking home a total of Dh78.14 million in <a href="http://www.albawaba.com/business/dubai-employment-finance-563006" target="_blank">salaries and bonuses in 2013 alone</a>, according to a new survey.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/dubai-salaries-589580" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Dubai2.jpg" alt="The 10 highest earning chief executives in the UAE make several million dirhams a year, taking home a total of Dh78.14 million in salaries and bonuses in 2013 alone," title="The 10 highest earning chief executives in the UAE make several million dirhams a year, taking home a total of Dh78.14 million in salaries and bonuses in 2013 alone," class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.gulfnews.com" title="Gulf News" target="_blank"><img src="http://pub.syndigate.info/logos/small/57.png" title="Gulf News" border="0" /></a> © Al Nisr Publishing LLC 2014. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/dubai-salaries-589580" target="_blank">read more</a></p> http://www.albawaba.com/business/dubai-salaries-589580#comments BUSINESS Industry Featured Articles UAE Fri, 11 Jul 2014 02:33:57 +0000 589580 at http://www.albawaba.com Lasting a while: Egypt boasts 6-month supply of wheat http://www.albawaba.com/business/egypt-food-security-589578 <p>Egypt,<a href="http://www.albawaba.com/business/egypt-bread-subsidies-577200" target="_blank"> one of the world's largest wheat importers</a>, said on Thursday it had enough wheat to last for six months.</p> <p>"Through what we have purchased locally and our import contracts, we now have enough wheat to last until the beginning of next year," ministry spokesman Mahmoud Diab said.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/egypt-food-security-589578" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Wheat_allergy-sick.jpg" alt="Egypt, one of the world&#039;s largest wheat importers, said on Thursday it had enough wheat to last for six months." title="Egypt, one of the world&#039;s largest wheat importers, said on Thursday it had enough wheat to last for six months." class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://english.ahram.org.eg" title="Al-Ahram Gate" target="_blank"><img src="http://pub.syndigate.info/logos/small/908.png" title="Al-Ahram Gate" border="0" /></a> © Copyright Al-Ahram Publishing House </div> </div> </div> <p><a href="http://www.albawaba.com/business/egypt-food-security-589578" target="_blank">read more</a></p> http://www.albawaba.com/business/egypt-food-security-589578#comments BUSINESS Economy & Trade Main headlines Egypt Fri, 11 Jul 2014 02:21:11 +0000 589578 at http://www.albawaba.com How a terminal is standing in the way of Egypt's ambitions to restore its gas industry http://www.albawaba.com/business/egypt-gas-supplies-589577 <p>Egypt has missed a window to avert gas shortages this year as plans to secure a floating import terminal from a Norwegian firm hit snags, causing officials to hedge their bets by restarting talks with U.S.-based rival Excelerate Energy.&nbsp;</p> <p>The two-year tale of Egyptian efforts to secure a floating liquefied natural gas (LNG) terminal is mostly one of delay, despite desperate <a href="http://www.albawaba.com/business/israel-egypt-relations-gas-586896" target="_blank">need at home for gas to keep the lights on.</a></p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/egypt-gas-supplies-589577" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Egypts_Gas_Pipeline_EXPLOSION.jpg" alt="Reorganizing the shipments thanks to delayed efforts to secure a terminal will add to headaches. " title="Reorganizing the shipments thanks to delayed efforts to secure a terminal will add to headaches. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://english.ahram.org.eg" title="Al-Ahram Gate" target="_blank"><img src="http://pub.syndigate.info/logos/small/908.png" title="Al-Ahram Gate" border="0" /></a> © Copyright Al-Ahram Publishing House </div> </div> </div> <p><a href="http://www.albawaba.com/business/egypt-gas-supplies-589577" target="_blank">read more</a></p> http://www.albawaba.com/business/egypt-gas-supplies-589577#comments BUSINESS Oil & Energy Featured Articles Egypt Fri, 11 Jul 2014 02:16:02 +0000 589577 at http://www.albawaba.com A glimpse of normalcy: how the restarting of the El-Sharara oil reignited hope for the Libyan economy http://www.albawaba.com/business/glimpse-normalcy-how-restarting-el-sharara-oil-reignited-hope-libyan-economy-589575 <p class="p1">Libyas oil sector took another big step back to normality with the restarting of an oil field that could double its current meagre crude output, a week after blockades ended at major ports.</p> <p class="p2">The 340,000 barrels per day (bpd) <a href="http://en.wikipedia.org/wiki/El_Sharara_oil_field" target="_blank">El Sharara oil field </a>has resumed operations after protesters ended a four month strike, state-run National Oil Corp. (NOC) said on Tuesday,</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/glimpse-normalcy-how-restarting-el-sharara-oil-reignited-hope-libyan-economy-589575" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Egypt_Libya_Border.jpg" alt="After that deal, shipments from Zueitina were delayed because of damage from the blockade, while Hariga has seen only a few tanker loadings." title="After that deal, shipments from Zueitina were delayed because of damage from the blockade, while Hariga has seen only a few tanker loadings." class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.jordantimes.com" title="The Jordan Times" target="_blank"><img src="http://pub.syndigate.info/logos/small/62.png" title="The Jordan Times" border="0" /></a> © Copyright The Jordan Times. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/glimpse-normalcy-how-restarting-el-sharara-oil-reignited-hope-libyan-economy-589575" target="_blank">read more</a></p> http://www.albawaba.com/business/glimpse-normalcy-how-restarting-el-sharara-oil-reignited-hope-libyan-economy-589575#comments BUSINESS Oil & Energy Featured Articles Libya Fri, 11 Jul 2014 01:42:01 +0000 589575 at http://www.albawaba.com The wonders of a single-aile plane:Boeing expands 2030 demand forecast to $3.5 trillion http://www.albawaba.com/business/aircraft-manufacturing-589574 <p>Boeing Co made its most bullish 20-year forecast for jetliner demand since 2011, saying on Thursday the world will need 36,770 new planes worth $5.2 trillion by 2033.</p> <p><a href="http://www.boeing.com/boeing/commercial/cmo/" target="_blank">The company’s annual projection</a> is up 4.2 per cent from its 2013 forecast, and it predicted beating rival Airbus Group NV in the lucrative market for twin-aisle planes as the planes are built and delivered over the next two decades.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/aircraft-manufacturing-589574" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Boeing_B777-300ER.jpg" alt="Boeing expects airlines to buy 25,680 new single-aisle planes over 20 years," title="Boeing expects airlines to buy 25,680 new single-aisle planes over 20 years," class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <img src="http://pub.syndigate.info/logos/small/325.png" title="Gulf Business" border="0" /> © Motivate Publishing. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/aircraft-manufacturing-589574" target="_blank">read more</a></p> http://www.albawaba.com/business/aircraft-manufacturing-589574#comments BUSINESS Main headlines UAE Fri, 11 Jul 2014 01:11:50 +0000 589574 at http://www.albawaba.com No Ramadan amnesty: 2200 'illegal' expats taken in Saudi Arabia http://www.albawaba.com/business/foreign-workers-saudi-589503 <p>Security officers in Saudi Arabia have arrested nearly 2,200 illegal foreign workers in Madinah and Hail and Baha this month for allegedly violating the <a href="http://www.albawaba.com/business/saudization--566856" target="_blank">country’s residency and labor regulations.&nbsp;</a>Madinah police arrested 884 Asian and African illegals during Ramadan following numerous inspection raids carried out at firms and establishments in the city.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/foreign-workers-saudi-589503" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/returning-pakistani-migrants-walk-away-from-the-wharf-at-the-citys-port-in-karachi-on-august-24-2012-following-their-deportation-from-oman1670.jpg" alt="In the meantime, Riyadh Municipality officials closed 23 restaurants in the capital for violating health regulations. " title="In the meantime, Riyadh Municipality officials closed 23 restaurants in the capital for violating health regulations. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.saudigazette.com.sa" title="The Saudi Gazette" target="_blank"><img src="http://pub.syndigate.info/logos/small/1526.png" title="The Saudi Gazette" border="0" /></a> © Copyright 2014 The Saudi Gazette. All Rights Reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/foreign-workers-saudi-589503" target="_blank">read more</a></p> http://www.albawaba.com/business/foreign-workers-saudi-589503#comments BUSINESS Main headlines Saudi Arabia Thu, 10 Jul 2014 12:31:37 +0000 589503 at http://www.albawaba.com Thanks to Libya's slight comeback, oil prices settle at one month low http://www.albawaba.com/business/libya-oil-production-589292 <p>Brent crude oil traded at a one-month low below $109 a barrel on Wednesday after a Libyan oilfield restarted and <a href="http://www.albawaba.com/business/kurdistan-isis-oil--585588" target="_blank">supply worries faded</a>, prompting traders to reduce long positions.</p> <p>Libya has restarted the 340,000-barrel-per-day (bpd) El Sharara field <a href="http://www.albawaba.com/news/libya-oil--567024" target="_blank">after protesters ended a four-month strike</a>, which could double the country’s current crude output.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/libya-oil-production-589292" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Oil-Refinery1.jpg" alt="The price spread between the two benchmarks touched the narrowest point in almost a month at $5.20 on Wednesday, driven by speculators dumping Brent. " title="The price spread between the two benchmarks touched the narrowest point in almost a month at $5.20 on Wednesday, driven by speculators dumping Brent. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.khaleejtimes.com" title="Khaleej Times" target="_blank"><img src="http://pub.syndigate.info/logos/small/44.png" title="Khaleej Times" border="0" /></a> Copyright © 2014 Khaleej Times. All Rights Reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/libya-oil-production-589292" target="_blank">read more</a></p> http://www.albawaba.com/business/libya-oil-production-589292#comments BUSINESS Main headlines Oil & Energy Libya Thu, 10 Jul 2014 02:40:35 +0000 589292 at http://www.albawaba.com Wishful thinking? US shale revolution won't affect the Middle East, says second opinion http://www.albawaba.com/business/us-oil-production-589288 <p>The shale oil revolution in the United States<a href="http://www.albawaba.com/business/shale-oil-gulf-us--522952" target="_blank"> is not expected to present a threat to the Middle East</a>, according to Duncan Anderson, chief executive officer at Gulf Marine Services (GMS).</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/us-oil-production-589288" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Crude-Oil.jpg" alt="Discussing other factors that may potentially influence Arabian oil, Anderson said he did not expect political disruptions to affect oil passage through the Strait of Hormuz. " title="Discussing other factors that may potentially influence Arabian oil, Anderson said he did not expect political disruptions to affect oil passage through the Strait of Hormuz. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.khaleejtimes.com" title="Khaleej Times" target="_blank"><img src="http://pub.syndigate.info/logos/small/44.png" title="Khaleej Times" border="0" /></a> Copyright © 2014 Khaleej Times. All Rights Reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/us-oil-production-589288" target="_blank">read more</a></p> http://www.albawaba.com/business/us-oil-production-589288#comments BUSINESS Oil & Energy Featured Articles Middle East United States Thu, 10 Jul 2014 02:32:18 +0000 589288 at http://www.albawaba.com The Ramadan tradition lives on: Damac to offer luxury BMW with property purchases http://www.albawaba.com/business/ramadan-deals-dubai-589285 <p>Dubai’s Damac Properties has announced that it will be <a href="http://www.mydsf.ae/en/pressrelease/media-center/press-release/pressrelease-7.html?fl=1" target="_blank">offering luxury cars to select property buyers as part of its Ramadan promotion.</a></p> <p>People investing in projects in the Burj Area, Dubai Marina, Jumeirah Village, and the developer’s flagship AKOYA by DAMAC project will be presented with a luxury car, including the BMW 520i and the BMW 320i, the company said in a statement.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/ramadan-deals-dubai-589285" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/Damac_Heigt_05.jpg" alt="With Dubai’s property market booming, analysts warn that several signs of excesses, reminiscent of pre-crisis years, are returning to the market" title="With Dubai’s property market booming, analysts warn that several signs of excesses, reminiscent of pre-crisis years, are returning to the market" class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <img src="http://pub.syndigate.info/logos/small/325.png" title="Gulf Business" border="0" /> © Motivate Publishing. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/ramadan-deals-dubai-589285" target="_blank">read more</a></p> http://www.albawaba.com/business/ramadan-deals-dubai-589285#comments BUSINESS Construction & Real Estate Main headlines UAE Thu, 10 Jul 2014 02:24:38 +0000 589285 at http://www.albawaba.com Sorry Dubai: why London's pricy property is still number one for ME investors http://www.albawaba.com/business/london-luxury-propoery-589283 <p>Middle Eastern buyers are increasingly investing in Central London’s residential property market as they are encouraged by the city’s transparency and its credentials as a finance centre, according to a report by real estate consultancy JLL.</p> <p>Although international investors control only nine of the largest 50 development sites in the city, these sites have the capacity to accommodate up to 28,000 new homes.</p> <p>This figure already represents 20 per cent of the total planning pipeline in Central London and is expected to grow significantly over the next few years, JLL said.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/london-luxury-propoery-589283" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/London.gif" alt="The UK capital recorded €32.2 billion (around $44.2 billion) worth of transactions in 2013, with the Middle East contributing roughly $7.5 billion." title="The UK capital recorded €32.2 billion (around $44.2 billion) worth of transactions in 2013, with the Middle East contributing roughly $7.5 billion." class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <img src="http://pub.syndigate.info/logos/small/325.png" title="Gulf Business" border="0" /> © Motivate Publishing. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/london-luxury-propoery-589283" target="_blank">read more</a></p> http://www.albawaba.com/business/london-luxury-propoery-589283#comments BUSINESS Construction & Real Estate Featured Articles UK Thu, 10 Jul 2014 02:14:53 +0000 589283 at http://www.albawaba.com Djibouti has some beef with DP world and its taking it court http://www.albawaba.com/business/djibouti-has-some-beef-dp-world-and-its-taking-it-court-589281 <p>Djibouti said it had started legal action against DP World, seeking to rescind the <a href="http://www.theafricareport.com/North-Africa/emerging-players-seek-concession-opportunities.html" target="_blank">Dubai-owned port operator’s concession in Africa’s largest container terminal</a> in a row over how the contract was awarded.</p> <p>“The resulting agreement unfairly favoured DP World,” the government said in a statement, which questioned payments made in winning the concession in 2000.</p> <p>DP World said it rejected Djibouti’s allegations.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/djibouti-has-some-beef-dp-world-and-its-taking-it-court-589281" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/07.06_DPW-_2_MSC_at_JAP.JPG" alt="DP World, which has a portfolio of about 65 terminals across six continents, owns one-third of Djibouti’s Doraleh Container Terminal, the company’s annual report says. " title="DP World, which has a portfolio of about 65 terminals across six continents, owns one-third of Djibouti’s Doraleh Container Terminal, the company’s annual report says. " class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <img src="http://pub.syndigate.info/logos/small/325.png" title="Gulf Business" border="0" /> © Motivate Publishing. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/djibouti-has-some-beef-dp-world-and-its-taking-it-court-589281" target="_blank">read more</a></p> http://www.albawaba.com/business/djibouti-has-some-beef-dp-world-and-its-taking-it-court-589281#comments BUSINESS Main headlines Transport & Shipping UAE Thu, 10 Jul 2014 01:58:26 +0000 589281 at http://www.albawaba.com Ramadan brings the issue of food wastage in Saudi Arabia to the forefront http://www.albawaba.com/business/saudi-ramadan-food-consumtpion-589260 <p>The problem of food wastage in Ramadan has again surfaced in Saudi Arabia.According to a study conducted by King Saud University, an estimated 4,500 tons of food is wasted every day in Saudi Arabia. But food waste is widespread in Saudi Arabia not only during Ramadan but during the whole year.The study showed that 30 percent of the 4 million dishes prepared daily during Ramadan go waste, which amounts to SR1.2 million.Wasted food globally is reportedly estimated at 1.3 billion tons, worth SR2.8 billion.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/saudi-ramadan-food-consumtpion-589260" class="imagecache imagecache-article_headline_thumb imagecache-linked imagecache-article_headline_thumb_linked"><img src="http://albawabacdn.albawabamiddleea.netdna-cdn.com/sites/default/files/imagecache/article_headline_thumb/im/food_waste.jpg" alt="However food waste is not unique to Saudi Arabia, low income and developed countries face problems in waste." title="However food waste is not unique to Saudi Arabia, low income and developed countries face problems in waste." class="imagecache imagecache-article_headline_thumb" width="147" height="147" /></a> </div> </div> </div> <div class="field field-type-computed field-field-attribution"> <div class="field-items"> <div class="field-item odd"> <a href="http://www.saudigazette.com.sa" title="The Saudi Gazette" target="_blank"><img src="http://pub.syndigate.info/logos/small/1526.png" title="The Saudi Gazette" border="0" /></a> © Copyright 2014 The Saudi Gazette. All Rights Reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/saudi-ramadan-food-consumtpion-589260" target="_blank">read more</a></p> http://www.albawaba.com/business/saudi-ramadan-food-consumtpion-589260#comments BUSINESS Economy & Trade Featured Articles Saudi Arabia Wed, 09 Jul 2014 17:47:38 +0000 589260 at http://www.albawaba.com