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Mohammed Jaradat is an Amman-based Jordanian entrepreneur. Despite being a high school dropout, he went on to become a pioneer in video production, TV programming and compèring. After establishing his credentials in the entertainment industry, Mohammed Jaradat, also known as Neo, turned his attention to online video blogging and coined...
Today Xerox and McAfee revealed new protection against malware and viruses with the first networked multifunction printer to use McAfee Embedded Control software, a sophisticated filtering method that allows only approved programs to get through. And while malware threats are most often associated with personal computers, Xerox demonstrated to attendees...
Today’s top business and economy news from the Middle East and North Africa: UAE invests $200 million in Azerbaijan projects The UAE Deputy Economy Minister Mohammed Ahmed Bin Abdul Aziz Al Shihhi said during a joint business forum in Baku on Wednesday his country’s investments in Azerbaijan’s economy exceeded $200 million....
World Food Program (WFP) said it is distributing food assistance to more than 300,000 affected Syrian families each month amid some security and funding challenges. “We started with a small project in Syria about 18 to 19 months ago and now on monthly bases the World Food Program in Syria...
The UAE Deputy Economy Minister Mohammed Ahmed Bin Abdul Aziz Al Shihhi said during a joint business forum in Baku on Wednesday his country’s investments in Azerbaijan’s economy exceeded $200 million. “There is great potential for development of cooperation between the two countries, and trade turnover between the UAE and Azerbaijan,...
The European Union announced on Wednesday it has approved a €5 billion ($6.3 billion) ‘support package’ to Egypt over a two year period to be disbursed through the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), each providing €2 billion ($2.54 billion). Egypt will receive...
Today’s top business and economy news from the Middle East and North Africa: UAE’s First Gulf Bank inks $900m loan deal First Gulf Bank, the second-largest lender by market value in the UAE, has signed a three-year $900m loan with a group of international lenders, the bank said in a...
Aid groups working in war-torn Syria doubled their estimates and suggested at least 2.5 million Syrians have fled their homes because of the infighting. The figure were released by Syrian Arab Red Crescent on Tuesday, whose volunteers are braving death and harsh weather on the front lines to deliver aid...
Australians living in Dubai including visitors and guests across the Emirates gathered last week for the 152nd running of the Emirates Melbourne Cup – a prestigious two mile horse racing event which has become a social, cultural and sporting icon for Australia. Organized by the Australian Business Council in Dubai,...
Today’s top business and economy news from the Middle East and North Africa: Dubai sees no need to recapitalise support fund Dubai sees no need to recapitalise the financial support fund which provides aid to indebted state-linked companies, Sheikh Ahmed bin Saeed al-Maktoum, the head of the emirate’s Supreme Fiscal...
Forecasts by the International Energy Agency (IEA) on Monday said the United States will overtake Saudi Arabia and Russia as the world’s top oil producer by 2017. The Paris-based energy organisation predicted that Washington will come very close to achieving a previously unthinkable energy self-sufficiency. The latest report comes in stark...
Iran announced on Monday it will make investments worth $200 million in Venezuela to build four oil reservoirs and refineries for storing and refining oil products. Semi-official Fars News Agency reported that in addition to the deals, Iran will also design and construct some small refineries in the Latin American nation....
Saudi Arabia’s Capital Market Authority announced on Monday it will allow subscription rights for share offers to be listed and traded on the Saudi stock market, as part of its drive to modernise the market while it prepares foreign investors’ entry in the market. “This framework aims to add further...
Today’s top business and economy news from the Middle East and North Africa: ADNOC to retain current UAE oil concession structure Abu Dhabi National Oil Co (ADNOC) director general announced on Sunday the company will present the current structure of its oil and gas concessions in the United Arab Emirates...
Algeria announced on Sunday it will go ahead with plans to develop its shale gas reserves which are thought to be around 600 trillion cubic feet (17 trillion cubic metres), around four times greater than its current known gas reserves. Environmentalists, citing long-term ecological damage, denounced the move. According to the...
The International Monetary Fund’s Middle East chief said on Sunday Iran’s economy may contract more than expected earlier this year because of weakness in the exchange rate. “The most recent round of currency depreciation and the associated uncertainty will likely have a further negative impact on economic outcomes in the coming...
Abu Dhabi National Oil Co (ADNOC) director general announced on Sunday the company will present the current structure of its oil and gas concessions in the United Arab Emirates to the Supreme Petroleum Council of Abu Dhabi by early next year at the latest. “It is our recommendation to have...
The International Monetary Fund issued a report on Sunday which said Arab Spring will have an impact on most Middle Eastern and North African economies which are currently grappling with high inflation and rising unemployment. The Paris-based global lender said in its twice-yearly outlook for the Middle East and North Africa...
Today’s top business and economy news from the Middle East and North Africa: Emirates to buy 100 777s if Boeing builds new model Emirates, the world’s largest airline by international passenger traffic, is likely to order 100 planes or more from Boeing if the plane manufacturer upgrades the design of...
Iranian media quoted trade officials as saying on Thursday the government has frozen the import of more than 2,000 “luxury goods” in its bid to stem the shortage of foreign currency caused by Western sanctions. According to partial lists published by various media outlets, the prohibited products include various brands...
Egypt has granted its first post-revolution exploration licences to Royal Dutch Shell, RWE and TransGlobe Energy, a Reuters report said on Thursday. The country’s government is struggling to make payments to its foreign energy producers to which it owes at least $3 billion in September. Canada’s TransGlobe emerged as the biggest...
The Iranian parliament’s Energy Commission is set to announce new measures that will reduce the country’s crude exports to deflect Western sanctions on the oil sector, Fars news agency reported Thursday. The directives of the bill are part of Iran’s initiatives to slash crude exports to almost 77% in the...
Executive director of the World Food Programme (WFP) has warned on Wednesday that the food needs of Syrian refugees in Lebanon are skyrocketing and more needs to be done. Ertharin Cousin, after meeting with families during a two-day trip to Lebanon, said the UN agency was increasing its assistance by extending...
Today’s top business and economy news from the Middle East and North Africa: Emirates inks deal for 2014 Glasgow Games Emirates Airline was unveiled on Wednesday as an Official Partner of the Glasgow 2014 Commonwealth Games and the Official Airline of the Queen’s Baton Relay. The partnership strengthens the Dubai-based...
Location It was a busy Sunday afternoon (work day here in the UAE) when I decided to have lunch at Zuma, which is located in the Dubai International Financial Centre, the heart of the city and not far from Burj Khalifa, the world’s tallest building. Atmosphere The Japanese restaurant’s interior...
Syrian government has submitted the 2013 budget in which it revealed a steep increase in the deficit due to falling revenue and rising expenditure. The state-run Syrian Arab News Agency quoted Finance Minister Mohammad al- Jleilati, who tabled the budget on Sunday, as saying that the country is suffering from sanctions which...
Today’s top business and economy news from the Middle East and North Africa: Britain, UAE enter defence partnership, discuss other deals Britain and the United Arab Emirates announced on Tuesday they have agreed a defence deal which will see boosting of the British military presence in the Gulf state. The...
BAE Systems is eyeing the Middle East for business growth after a merger with EADS was torpedoed by the German government, media reports suggested on Tuesday in the wake of British Prime Minister David Cameron’s trip to the Gulf. Many analysts said investors are hoping they will receive proceeds from the BAE...
Britain and the United Arab Emirates announced on Tuesday they have agreed a defence deal which will see boosting of the British military presence in the Gulf state. The announcement came at the end of a two-day state visit by British Prime Minister David Cameron. The two allies said in...
A senior Libyan official said protests held by former rebels demanding medical treatment and jobs has costed Libya around $30 million so far. “The demonstration has cost the country at least $30 million until now,” outgoing deputy oil minister Omar al-Shakmak told AFP when asked about the demonstrations in the...
A revised EU import preference scheme – known as the Generalised Scheme of Preferences (GSP) – which will take effect from 1 January 2014, is expected to deprive exports from Algeria, Egypt, Jordan, Lebanon, Morocco and Tunisia from enjoying preferential access to the markets of developed European countries. EU Trade Commissioner...
Today’s top business and economy news from the Middle East and North Africa: British PM in the UAE to secure arms deal British Prime Minister David Cameron is in the United Arab Emirates to kickoff a three-day trade visit to the Middle East aimed at securing major UK arms deals...
Iraq announced on Monday it has signed a final gas exploration contract with Pakistan Petroleum to explore gas block 8, covering an area of 6,000 square km in Diyala and Wasit provinces in eastern Iraq. Iraq, holder of the world’s 10th-largest gas reserves, said the gas will be used in the...
The International Air Transport Association (IATA) announced that Middle Eastern airlines by far witnessed the strongest traffic growth in September, with demand hitting 13.3% year-on-year. The region registered a growth rate of 17% in August due to seasonal impacts, including Ramadan, dampening traffic. The IATA report comes at a time...
British Prime Minister David Cameron is in the United Arab Emirates to kickoff a three-day trade visit to the Middle East aimed at securing major UK arms deals with Gulf Arab states. The Downing Street issued a statement in which it said the aim of the trip is to build...
Today’s top business and economy news from the Middle East and North Africa: Guinea, UAE seal bauxite deal Compagnie des Bauxites de Guinee (CBG) and Mubadala Development Company have signed a long-term supply agreement to supply bauxite, the main raw material in aluminium, the UAE’s state news agency reported on...
Algeria’s state-run energy group Sonatrach boss on Sunday announced plans to invest $80 billion in oil and natural gas projects during the next four years. Addressing a news conference in Algiers, chief executive officer Abdelhamid Zerguine said the company will spend $14 billion on building four refineries and has budgeted $15 billion for...
Minister of Planning and International Cooperation said signed or projected foreign grants pledged to the Jordanian government this year, amounting to $365.2 million, would help offset just 12% of the three billion dollars government subsidy on oil. In a statement posted on the Prime Ministry’s Media and Communications Directorate website,...
The CEO of a leading financial firm said on Sunday the UAE economy will be able to sustain the fallout of the deepening Western financial crisis. Sailesh Dash, CEO of Al Masah Capital Limited in Dubai, assured that the Emirati banks would not emulate an increasing number of European and American...
Compagnie des Bauxites de Guinee (CBG) and Mubadala Development Company have signed a long-term supply agreement to supply bauxite, the main raw material in aluminium, the UAE’s state news agency reported on Saturday. “The agreement with Mubadala will make a significant contribution to Guinea’s economy by enabling the expansion of...
