Pearl Initiative - 12 percent of world economic output lost to corruption. World Bank - Estimated losses total between $1-4 trillion dollars worldwide. At the recent Pearl Initiative's Good Corporate Practices round-table, it was agreed by regional business leaders that anti-bribery and...
World Market Updates: Brought to you in association with Dubai Gold and Commodities Exchange (DGCX) Academy QUOTE: You can't operate a company by fear, because the way to eliminate fear is to avoid criticism. And the way to avoid criticism...
Dr Abdullatif Al Zayani, secretary general of the GCC, said the regional body has formed a committee that will manage the setting up of a customs union which could make the flow of goods easier between the six member states....
The non-oil foreign trade sector in United Arab Emirates hit AED1.3 trillion ($350bn) in 2011 compared to AED1.1 trillion ($300bn) in previous year, registering an increase of AED200 billion ($54.54bn) with a growth rate of 18.2%, a report said...
The UAE Minister of State for Financial Affairs has said more Arabs are needed to increase the international lender's credibility. Obaid Humaid Al Tayer said in a statement issued during the IMF's spring meeting at the organisation's headquarters in Washington on behalf...
WGS 2019: Recession Looming, Paul Krugman Cautions Governments to be Prepared Nobel Prize Laureate Economist delivers sobering outlook on global trade landscape Modern trade, value chains much less robust in face of growing protectionism Populist anti-trade sentiment has brought...
With annual sales now exceeding AED 30 billion (US$8.2 billion), the market of luxury goods continued to witness impressive growth in Middle East. According to a new study, the luxury goods market recorded a growth of 10 to 15...
Markit's global business outlook survey said it expects a rise in business activity over the next 12 months while pointing out that economic expansion and sentiment was better than October's post-crisis low. However, hiring intentions looked bleak with only 17%...
Saudi Arabia’s gross domestic product (GDP) grew 6.6% in the fourth quarter from a year earlier on additional government spending and higher oil prices, a Bloomberg report suggested citing the Central Department of Statistics and Information's website. The state-run agency announced...
International law firm Vinson & Elkins LLP has expanded into the Middle East and opened an office in Riyadh, in association with the Law Office of Looaye M. Al-Akkas. Vinson & Elkins LLP is an international law firm with...
More than a quarter of young people in the Middle East and North Africa region are unemployed, according to a new report published by the International Labour Organisation (ILO). The findings said many skilled young people are being forced into...
Top 10 things to consider before buying a Villa in Dubai Dubai is a melting pot of cultures, offering a comfortable living experience of a high quality. Constantly soaring to new heights and offering a plethora of options in all...
BNY Mellon assesses the impact of Japan, America, China and India fulfilling their economic potential simultaneously Optimistic scenario would add over $10 trillion to the four economies' combined GDP by 2020 In a new white paper, BNY Mellon, a global leader...
GCC well on track for the diversification drive, 80% exports from UAE are non-oil, experts highlight key trends economic trends at the Gulf Trade Finance Summit Over 200 trade finance decision makers gathered for...
EU business leaders are pessimistic and are urgently demanding change -- but remain optimistic on the long-term prospects for prosperity and global prominence. This is the core message of the 2013 'State of the European Union' survey released today...
The rate of inflation in the U.K.increased again in July, forcing Bank of England Governor Mervyn King to write a letter to the Treasury explaining why inflation remains so far above the central bank's 2% target. He said higher energy...
Official data suggests that Bahrain is struggling to cope with its widening budget deficit, which has now grown to about 2 percent of GDP in 2012. During 2012, the country’s deficit swelled seven times to BD227 million (USD 601 million)....
National Commercial Bank said Saudi economy will expand 3.9% this year and will hit 4.4% during next year. The Jeddah-based bank said in a report that the government will have a fiscal surplus of 317.4 billion riyals ($84.63bn), or 14%...
Kuwait posted a record budget surplus and revenues in the 2011-2012 fiscal year that ended on 31 March on the back of high oil output and price, an economic report said on Sunday. The oil-rich Gulf state posted a historical...
In this candid interview, Chairman of The Institute of Chartered Accountants of India (Dubai) Chapter, Mahmood Bangara, talks about VAT implementation in the UAE and their implications on business. He assesses post implementation of value added tax (VAT) in...
Philippines economy to more than double over next decade, says IHS research. According to the World Bank, Philippines has been among the emerging markets in the region given its sound economic fundamentals and highly-skilled workforce. The economy of the Philippines is the...
Japanese economy expanded at an annual real 6 per cent in the three months through September, its first growth in four quarters, rebounding from a slowdown caused by the devastating March 11 earthquake and tsunami, government data showed Monday. While...
The future of U.A.E. in terms of world ranking seems to be getting brighter. Russell Investments, the global leader in fund management has classified the UAE? market under the emerging market status, while MSCI and S&P are delaying the market?s...
On June 23, 2016 the United Kingdom held an historic referendum so that voters could decide whether they wanted to leave the European Union governance architecture and over 52% of UK voters elected to "Leave" the EU. Subsequent divorce negotiations...
From being seen as a reliable leader, who brought vision at a time when there was a lack of it, Merkel?s recent approach to situations such as the Eurozone crisis and Libya policy, has broken down the once bold...
Banks in the United Arab Emirates have enough dollar liquidity to cover the needs of local banks and the exposure of the OPEC member's banks to the euro zone crisis is limited, a newspaper quoted a central bank official...
According to a ranking compiled by the Heritage Foundation, Hong Kong has yet again retained its position as the world's freest economy, followed by Singapore, Australia, New Zealand and Switzerland. The conservative think tank maintained the list according to economic...
According to the recent VISA Affluent Study 2013, UAE citizens belonging to the affluent socio-economic class -- give equal priority to charity, dining out, leisure and expenditures on family holidays. The affluent group did not exhibit the propensity to be reckless with...
Qatari Prime Minister Minister Sheikh Hamad bin Jassem Al-Thani said on Monday that multi-billion investments in France is motivated by business interests and not by any political ambitions. The Gulf state's investments sparked fears it is motivated to promote...
Egypt Stock Exchange went down almost 3.5% on Sunday, a day after the first results of a landmark presidential election were announced. The main EXG-30 index dropped 3.49% to reach 4,789.14 points at closing in the bourse's the first session...