Al Bawaba - Business http://www.albawaba.com/business/%2A en 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 Middle East 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 Emirates order $56 billion Boeing planes after historic Airbus cancellation http://www.albawaba.com/business/emirates-589231 <p>Dubai's Emirates Airline has finalised an order for 150 Boeing 777 planes valued at $56 billion at list prices, the US manufacturer said Wednesday in Dubai.</p> <p>The planes, comprising 115 777-9Xs and 35 777-8Xs, were initially ordered during the Dubai Airshow in November 2013, when the largest operator of the long haul airliner took also purchase rights for 50 additional planes.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/emirates-589231" 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/Emirates-airline.jpg" alt="The value of the deal could increase to $75 billion at list prices if Emirates firms up its right to purchase the additional planes, Boeing said in a statement issued in Dubai. " title="The value of the deal could increase to $75 billion at list prices if Emirates firms up its right to purchase the additional planes, Boeing said in a statement issued in Dubai. " 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.yourmiddleeast.com" title="Your Middle East" target="_blank"><img src="http://pub.syndigate.info/logos/small/1359.png" title="Your Middle East" border="0" /></a> Copyright © Your Middle East AB. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/emirates-589231" target="_blank">read more</a></p> http://www.albawaba.com/business/emirates-589231#comments BUSINESS Main headlines Transport & Shipping UAE Wed, 09 Jul 2014 15:33:29 +0000 589231 at http://www.albawaba.com Time to take a stance: Philippines to blacklist Saudis who harass domestic workers http://www.albawaba.com/business/philipines-589229 <p>The Philippines’ Labor Ministry has prepared a comprehensive blacklist containing the names of the Saudi employers who <a href="http://www.hrw.org/reports/2004/saudi0704/7.htm" target="_blank">have abused or sexually harassed their Filipino housemaids to prevent them from recruiting in the future.</a>Quoting a source at the Philippine Embassy in Riyadh, Makkah daily reported on Monday that the recruitment application of any Saudi who has a history of maltreating Filipino housemaids would never be accepted.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/philipines-589229" 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/511766-filipinophilippinesmaidmigrantworkerKasambahayBillphotoafp-1361670500-919-640x480.jpg" alt="The source, who opted not to be named, said a surefire reason for inclusion on the blacklist is physical abuse and sexual harassment against their housemaids. " title="The source, who opted not to be named, said a surefire reason for inclusion on the blacklist is physical abuse and sexual harassment against their housemaids. " 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/philipines-589229" target="_blank">read more</a></p> http://www.albawaba.com/business/philipines-589229#comments BUSINESS Economy & Trade Main headlines Saudi Arabia Wed, 09 Jul 2014 15:05:36 +0000 589229 at http://www.albawaba.com Hubris and greed: the toxic combination that drove the rise and fall of Arabtec? http://www.albawaba.com/business/arabtec-shares-stocks-589012 <p>From a 59-storey tower in Abu Dhabi, the offices of Arabtec look out over the Gulf towards Middle Eastern and Asian nations where the construction firm hopes to expand. It is a symbol of the company's ambitions - and the way in which they have run into hard reality.</p> <p>Arabtec agreed last year to lease the entire tower, which was to serve as a base for it to diversify into the oil, power, infrastructure and real estate sectors, providing capacity for thousands of future employees as well as joint venture partners.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/arabtec-shares-stocks-589012" 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/ismaik.jpg" alt="The scars left by the Arabtec saga on both the company and the stock market may heal with time. " title="The scars left by the Arabtec saga on both the company and the stock market may heal with time. " 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/arabtec-shares-stocks-589012" target="_blank">read more</a></p> http://www.albawaba.com/business/arabtec-shares-stocks-589012#comments BUSINESS Construction & Real Estate Featured Articles UAE Wed, 09 Jul 2014 03:55:54 +0000 589012 at http://www.albawaba.com Worth every (billion) penny in debt: Mall of the World price revealed http://www.albawaba.com/business/dubai-megaproject--589013 <p>Dubai Holding, the investment vehicle of the emirate's ruler, will need Dh25 billion ($6.8 billion) to build an entertainment district that will include the world's largest shopping mall, its chief executive 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/dubai-megaproject--589013" 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/mall_of_the_world.jpg" alt="&quot;This is a long-term project and we are betting strongly on Dubai,&quot; he said, adding that the size of the entire project would be in the range of 48 to 50 million sq ft. " title="&quot;This is a long-term project and we are betting strongly on Dubai,&quot; he said, adding that the size of the entire project would be in the range of 48 to 50 million sq ft. " 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/dubai-megaproject--589013" target="_blank">read more</a></p> http://www.albawaba.com/business/dubai-megaproject--589013#comments BUSINESS Construction & Real Estate Main headlines UAE Wed, 09 Jul 2014 03:55:51 +0000 589013 at http://www.albawaba.com With the US about to become a net exporter, is the ME’s crude oil on its way to dispensablity? http://www.albawaba.com/business/us-oil-exports-shale-589011 <p>The report focuses on expansion and contraction on a number of fronts: the waxing and waning of dominance among suppliers; the progression into globalisation from regionalisation in energy markets; the growing shares of some fuels and the declining roles of others in the global energy mix; and, the opening and closing of borders in response to geopolitical concerns.</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-exports-shale-589011" 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 global energy mix is shifting toward cleaner fuels such as natural gas" title="The global energy mix is shifting toward cleaner fuels such as natural gas" 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.cpifinancial.net" title="CPI Financial" target="_blank"><img src="http://pub.syndigate.info/logos/small/240.png" title="CPI Financial" border="0" /></a> © 2014 CPI Financial. All rights reserved. </div> </div> </div> <p><a href="http://www.albawaba.com/business/us-oil-exports-shale-589011" target="_blank">read more</a></p> http://www.albawaba.com/business/us-oil-exports-shale-589011#comments BUSINESS Oil & Energy Featured Articles Middle East Wed, 09 Jul 2014 03:55:29 +0000 589011 at http://www.albawaba.com One step forward, ten backwards: US-Iran trade falls 57% http://www.albawaba.com/business/one-step-forward-ten-backwards-us-iran-trade-falls-57-589015 <p>The <a href="http://www.tehrantimes.com/economy-and-business/116115-us-iran-trade-irks-europeans-as-companies-suffer-" target="_blank">value of trade between Iran and the United States </a>dropped 57 percent in the first five months of 2014 compared to the same period in 2013, according to U.S. Census Bureau statistics.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/one-step-forward-ten-backwards-us-iran-trade-falls-57-589015" 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/Iran_Central_Bank-feb2014.jpg" alt="Iran imported $153 million worth of products from the U.S. in January-May 2013 and exported $1.6 million worth of products to the U.S. in the mentioned time span" title="Iran imported $153 million worth of products from the U.S. in January-May 2013 and exported $1.6 million worth of products to the U.S. in the mentioned time span" 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/one-step-forward-ten-backwards-us-iran-trade-falls-57-589015" target="_blank">read more</a></p> http://www.albawaba.com/business/one-step-forward-ten-backwards-us-iran-trade-falls-57-589015#comments BUSINESS Economy & Trade Main headlines Iran Wed, 09 Jul 2014 03:55:17 +0000 589015 at http://www.albawaba.com Narrowing things down: the cheapest and most expensive places to rent in Dubai http://www.albawaba.com/business/dubai-rent-affordable-589008 <p>&nbsp;Looking for a place to rent in Dubai that doesn’t break the bank? Stay away from Shaikh Zayed Road or the commercial centre.</p> <p>The cheapest studio apartment in Dubai can be found in<a href="http://www.internationalcity-dubai.com/" target="_blank"> International City,</a> about 17 kilometres away from Dubai Mall, according to data compiled by property consultant Asteco. Affordable places to rent can also be found in Deira, Discovery Gardens and Jumeirah Village, which is even farther away, about 27 kilometres from the Burj Khalifa area.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/dubai-rent-affordable-589008" 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/Dubai-skyline-at-night.jpg" alt="Dubai Marina and Shaikh Zayed, where a studio apartments costs about Dh80,000 a year on average are less-pricey options. " title="Dubai Marina and Shaikh Zayed, where a studio apartments costs about Dh80,000 a year on average are less-pricey options. " 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-rent-affordable-589008" target="_blank">read more</a></p> http://www.albawaba.com/business/dubai-rent-affordable-589008#comments BUSINESS Construction & Real Estate Featured Articles UAE Tue, 08 Jul 2014 23:42:38 +0000 589008 at http://www.albawaba.com The market speaks for itself: Israeli shekel, stocks down on Gaza attacks http://www.albawaba.com/business/israel-economy-shares-588994 <p>&nbsp;</p> <p>The shekel has weakened against the dollar this morning, as the security situation in the south of Israel escalated overnight. The shekel-dollar rate is up 0.23% in comparison with yesterday's representative rate, at NIS 3.4298/$, and the shekel-euro rate is up 0.13%, at NIS 4.6594/€. The stock market is also down, with the Tel Aviv 25 Index currently off 0.58%.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/israel-economy-shares-588994" 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/A-Palestinian-woman-is-helped-by-a-paramedic-out-of-her-building-damaged-during-an-Israeli-air-raid-on-a-nearby-sporting-centre-in-Gaza-City-November-19-2012.-Marco-LongariAFPGetty-Images-960x640.jpg" alt="The stock market is also down, with the Tel Aviv 25 Index currently off 0.58%. " title="The stock market is also down, with the Tel Aviv 25 Index currently off 0.58%. " 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.globes-online.com" title="Globes" target="_blank"><img src="http://pub.syndigate.info/logos/small/1398.png" title="Globes" border="0" /></a> © Copyright of Globes Publisher Itonut (1983) Ltd. 2014 </div> </div> </div> <p><a href="http://www.albawaba.com/business/israel-economy-shares-588994" target="_blank">read more</a></p> http://www.albawaba.com/business/israel-economy-shares-588994#comments BUSINESS Banking & Finance Main headlines Israel Tue, 08 Jul 2014 18:43:48 +0000 588994 at http://www.albawaba.com Setting a precedent: Germany lifts Sharm al-Sheikh travel warning http://www.albawaba.com/business/egypt-tourism-588971 <p>Egypt’s ministries of Tourism and Foreign Affairs are working together to lift travel warnings imposed by European countries to the Sinai Peninsula following the bombing of a tourist bus last February, according to Chairman of International Tourism Sector Ahmed Shoukry.</p> <p>Germany is one of the most important tourism markets for Egypt, along with Russia, Britain and France, according to Shoukry.</p> <p>Europeans visiting Egypt account for 72% of total tourism traffic to Egypt annually.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/egypt-tourism-588971" 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/Sharm_el_Sheikh.jpg" alt="South Sinai’s 62,000 hotel rooms represent approximately 33% of Egypt’s total hotel capacity, according to Egypt’s Hotels Chamber. " title="South Sinai’s 62,000 hotel rooms represent approximately 33% of Egypt’s total hotel capacity, according to Egypt’s Hotels Chamber. " 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-tourism-588971" target="_blank">read more</a></p> http://www.albawaba.com/business/egypt-tourism-588971#comments BUSINESS Main headlines Tourism & Hospitality Egypt Tue, 08 Jul 2014 15:53:26 +0000 588971 at http://www.albawaba.com Taming the monster: UAE regulator to tighten supervision of financial markets over Arabtec's debacle http://www.albawaba.com/business/arabtec-crash-588953 <p>The financial market regulator of the UAE said it would tighten supervision of the stock exchanges, <a href="http://www.cnbc.com/id/101788418#." target="_blank">after wild trading in Dubai-listed construction firm Arabtec helped to trigger a market crash.</a></p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/arabtec-crash-588953" 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/arabtec.jpg" alt="Bullish comments about Arabtec and its shares by then-chief executive Hasan Ismaik, who resigned in June, helped to fuel investor interest in the stock." title="Bullish comments about Arabtec and its shares by then-chief executive Hasan Ismaik, who resigned in June, helped to fuel investor interest in the stock." 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/arabtec-crash-588953" target="_blank">read more</a></p> http://www.albawaba.com/business/arabtec-crash-588953#comments BUSINESS Banking & Finance Featured Articles UAE Tue, 08 Jul 2014 14:34:27 +0000 588953 at http://www.albawaba.com The price of overconfidence? Samsung's profits sinks to two year low http://www.albawaba.com/business/samsung-earnings-shares-588947 <p>Samsung Electronics’ earnings fell by almost a quarter in the three months to June, after the South Korean group was caught out by <a href="http://online.wsj.com/articles/samsung-blames-weaker-demand-for-disappointing-results-1404780674" target="_blank">unexpectedly low demand for its smartphones in China and Europe.</a></p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/samsung-earnings-shares-588947" 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/Samsung-vs-Apple.jpg" alt="Investors appear to have anticipated the weaker results, which were flagged by a recent comment from Samsung’s financial director that the quarter’s earnings were “not that good”." title="Investors appear to have anticipated the weaker results, which were flagged by a recent comment from Samsung’s financial director that the quarter’s earnings were “not that good”." 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/samsung-earnings-shares-588947" target="_blank">read more</a></p> http://www.albawaba.com/business/samsung-earnings-shares-588947#comments BUSINESS IT & Telecom Main headlines International Tue, 08 Jul 2014 13:46:49 +0000 588947 at http://www.albawaba.com The more the merrier: will the Mall of the World bring more tourists to Dubai? http://www.albawaba.com/business/more-merrier-will-mall-world-bring-more-tourists-dubai-588941 <p><a href="http://www.albawaba.com/business/mall-of-the-world-588460" target="_blank">Mall of the World,</a> the latest addition to Dubai’s retail, hospitality and leisure offering, is expected to boost visitor numbers and further strengthen the emirate’s mall development pipeline, industry experts said.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/more-merrier-will-mall-world-bring-more-tourists-dubai-588941" 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/mall_of_the_world.jpg" alt="The consultancy expects some 7 million square feet of new malls with a size of over 1 million square feet to enter the market over the next two years." title="The consultancy expects some 7 million square feet of new malls with a size of over 1 million square feet to enter the market over the next two 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"> <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/more-merrier-will-mall-world-bring-more-tourists-dubai-588941" target="_blank">read more</a></p> http://www.albawaba.com/business/more-merrier-will-mall-world-bring-more-tourists-dubai-588941#comments BUSINESS Featured Articles Tourism & Hospitality UAE Tue, 08 Jul 2014 13:32:26 +0000 588941 at http://www.albawaba.com The epitome of over-dependence: Egypt’s reserves fall $600 million due to suspension of Gulf aid http://www.albawaba.com/business/epgulf-aid-egypt-precarious-588739 <p>Egypt’s net international foreign reserves fell by $600m, recording $16.68bn at the end of June, down from $17.28m in May, the Central Bank of Egypt (CBE) announced on Monday.</p> <p><a href="http://www.reuters.com/article/2014/07/07/egypt-reserves-idUSC6N0MS01120140707" target="_blank">Foreign reserves are now the lowest</a> since the ouster of former president Mohamed Morsi in July 2013, when they saw a jump following a total Gulf aid package of $12bn, in the form of cash grants, deposits and petroleum products.</p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/epgulf-aid-egypt-precarious-588739" 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/debt_article_jordan_jan2014.jpg" alt="Adam did not expect additional financial assistance from Gulf countries in the next period. " title="Adam did not expect additional financial assistance from Gulf countries in the next period. " 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/epgulf-aid-egypt-precarious-588739" target="_blank">read more</a></p> http://www.albawaba.com/business/epgulf-aid-egypt-precarious-588739#comments BUSINESS Banking & Finance Main headlines Egypt Tue, 08 Jul 2014 03:55:46 +0000 588739 at http://www.albawaba.com Creating conditionality: why the GCC should aid-for-trade http://www.albawaba.com/business/gulf-aid-conditions-588737 <p>With the ongoing political instability in Egypt,<a href="http://www.albawaba.com/business/gulf-money-egyptian-economys-life-support-514834" target="_blank"> oil-rich UAE, Saudi Arabia and Kuwait generously provided both financial and in-kind aid (oil, LNG) valued in excess of $12 billion to support political transition.</a></p> <div class="field field-type-imceimage field-field-headline-image"> <div class="field-items"> <div class="field-item odd"> <a href="/business/gulf-aid-conditions-588737" 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/GCC_members_logo.jpg" alt="Expanding the foreign trade of the transition countries is the most effective way of raising growth and creating employment, along with massive investment in infrastructure and development projects." title="Expanding the foreign trade of the transition countries is the most effective way of raising growth and creating employment, along with massive investment in infrastructure and development projects." 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/gulf-aid-conditions-588737" target="_blank">read more</a></p> http://www.albawaba.com/business/gulf-aid-conditions-588737#comments BUSINESS Economy & Trade Featured Articles GCC Tue, 08 Jul 2014 03:55:29 +0000 588737 at http://www.albawaba.com