Featured Articles

June 2, 2013

One billion dollar stack
09:52 GMT
Robert Mundell, an economist and a 1999 Nobel Prize winner, and current professor at Columbia University and advisor to the Chinese government, has called for a new global currency.
Qatar targets GCC tourists with world-class facilities
06:13 GMT
Qatar is increasing its tourist numbers by 20 percent annually, according to Saeed Al-Hajri, chairman of the tourism committee of the Qatar Chamber of Commerce and Industry and general manager of Ali Bin Ali Travel Bureau.

May 30, 2013

UAE becomes the most competitive Arab country in the world
14:00 GMT
The UAE has jumped eight places to 8th rank in the latest world competitiveness ranking published by Switzerland-based IMD World Competitiveness Centre on Thursday, from 16th position last year.
Private sector invests SR 28 bn in Saudi ports
13:00 GMT
The private sector has pumped additional investments in Saudi ports estimated at SR 28 billion, and helped the Kingdom generate an income estimated at SR 4 billion annually since the start of the privatization policy.
GCC integrated banking system proposed
11:37 GMT
The Gulf Cooperation Council (GCC) will soon study a proposal to integrate the banking system in the region, to make it easier for GCC citizens and companies to open bank accounts in all of the group's six-member countries.
Visitors will continue to spend the most of their travel money in New York
10:51 GMT
Visitors to Dubai are anticipated to spend some $10.4 billion (Dh38.25 billion) this year, the eighth highest expenditure in the world, MasterCard said on Wednesday.
European Central Bank
06:13 GMT
ECB’s Nowotny says world economy on track for second half recovery; Says should not overestimate effect of rate cuts at low level, adding focus should be on measures to provide more liquidity
The market will have to move to decriminalise cheques
06:13 GMT
With the formal announcement yesterday of the rollout of federal credit bureau from July, bank customers are expected to have their individual credit scores based on historical data available at the earliest by the third quarter of next year.

May 29, 2013

This year the IMF prediction for the Kingdom’s economic growth was 4.4 percent
11:21 GMT
Saudi Arabia is set for achieving substantial economic growth this year, much more than the 4.4 percent growth predicted by the International Monetary Fund, Finance Minister Ibrahim Al-Assaf said yesterday.
Of the total 86 transactions, 44 were joint venture deals
10:53 GMT
After almost three years of lull during the downturn, mergers and acquisitions (M&As), mainly in the mid-market segment, appear to be making a healthy comeback in the Middle East.
The World Economic Forum is supposed to allow for the discussion of urgent economic issues
05:00 GMT
Participants can pat themselves on the back that they, once again, discussed many pressing, strategic and above all - long term - economic and political issues. The end result was the same: nothing was accomplished.

May 28, 2013

Emirates first launched Tripoli with four-a-week flights in 2001
12:23 GMT
Resumption of services after two years will benefit passengers with connections within the GCC, Indian Subcontinent, Far East and West Asia.
Growth in broad money (M3) picked up slightly to 14 percent year-on-year
11:57 GMT
The monetary conditions in the Kingdom reflects the strong performance of domestic economic activities particularly with all three measures of money supply showing strong growth rates since early 2011.
The Sohar Plastics project will further upgrade the production of natural gas liquids
05:00 GMT
Oman Oil Refineries and Petroleum Industries Co's (Orpic) US$3.6bn Sohar Plastics project will be launched by the end of this year and completed by 2018.

May 27, 2013

Real advertising expenditures dropped 10 to 15 percent in 2012
13:25 GMT
Like most sectors of the Lebanese economy, the advertising industry is stagnating. Real advertising expenditures dropped 10 to 15 percent in 2012, according to a survey conducted by the International Advertising Association.