The fall of the Soviet Union in 1991 has demoted communism and socialism to the least importance upon which capitalistic notions flourished all around the world. Since then, the dominant economic trends revolve around the economic theory of deregulation...
Dr. A. Hamid Majid, renowned oil expert, affirmed that huge reserves of heavy oil exist in Wafra oilfield between Kuwait and Kingdom of Saudi Arabia, amounting to around 25 billion barrels. He said that if exploited, it will become the...
JW Marriott Marquis Dubai, slated to open at the end of this year, is set to become the tallest hotel in the world, beating the?333 metres tall Rose Rayhaan hotel. Marriott Marquis, which is 355 metres tall,?expects to open...
A look at today’s important financial news and business updates from the Middle East region: GCC to impose heavy taxes on soft drinks, tobacco products Soft drink addicts would have to pay 50% more for their favourite beverage as authorities in...
A UAE minister said on Tuesday he fully supported the idea of devising a dress code in the country that is in line with the local traditions. He also supported the idea to create a federal law that effectively...
Last week, Ben Bernanke stepped into the halls of the Capitol. His goal was to explain to Congress how the American economy was facing difficult times and that more was required from the political body to stimulate the economy...
Today’s top business news from the Middle East and North Africa: Dubai’s posts record H1 trade figures Dubai’s non-oil foreign trade hit a record AED602 billion ($163.9 bn) during the first half of 2012, registering a 12% increase compared to the same period...
Overlooking a tranquil lagoon in the Lhaviyani Atoll, Cocoon Maldives, the chic island resort is a scenic, 30-minute seaplane journey from Velana International Airport in Malé. Accommodations range from airy beachfront suites to luxe overwater villas reached by wooden boardwalks. Cocoon...
A look at today's financial news and business updates from the Middle East region Dubai tops Middle Eastern financial centres index The UAE’s financial centres have improved their economic standing but still lag behind in the list of global economic hubs....
As far as economic prosperity is concerned, one doesn't have to look towards the otherwise conventional Western countries nor towards the Far East, in China. It’s in the Middle East that the treasure trove of economic prosperity lies with...
The series of financial malfeasance and the continuation of these events taking place time after time makes one wonder whether it is a coincidence that Wall Street is house to the world's most rotten apples. Agreed that it isn’t...
Looking for your perfect destination to travel this Eid Al Adha holidays? Cyprus could be a good choice! The Cyprus Tourism Organisation (CTO), which organises and promotes tourism within the Republic of Cyprus, has revealed that the Mediterranean island is...
Riyadh's announcement of opening up its skies to foreign airlines has attracted the interest of fourteen companies to obtain a licence, including Saudi-owned companies, Gulf-Arab firms and consortiums of Saudi-Gulf and Saudi-Chinese companies, the General Authority of Civil Aviation (GACA)...
Launched in 2014 as Dubai’s first online dessert bakery, SugarMoo Desserts has since expanded into four dessert labs located across the city whilst simultaneously catering to over 100 F&B outlets.  As part of its ongoing development, SugarMoo has recently announced...
Today’s top business news from the Middle East and North Africa: Dubai H1 FDI accounts 1.5% of total global; exceeds $4bn mark Foreign direct investment (FDI) in Dubai hit AED16.5bn ($4.49bn) during the first six months of 2012, official statistics released on...
Lockheed Martin announced it has been awarded a $26 million foreign military sales contract to modernise the Royal Jordanian Air Force’s national air command, control and communications infrastructure, by the US Air Force. "Lockheed Martin will provide the Kingdom of Jordan with an...
A once in a lifetime opportunity to purchase London’s only Tower Bridge facing single dwelling with floor to ceiling windows and outstanding views over the River Thames. Offering an impressive 10,000 sq ft of luxury living space spread over...
According to a new study, old people who are particular about dental hygiene are likely to be free from heart attack or stroke in comparison to their peers who are less concerned about their oral hygiene. Around 22,000 Taiwanese adults...
Sudanese President Omar Hassan Al Bashir on Monday announced wide-ranging austerity plans that include gradually abolishing fuel subsidies, reducing the size of the government, raising taxes on consumer goods, banks and imports to plug its budget deficit, and devaluing...
Dubai International recorded its busiest first half in its history with 27.9 million passengers transiting through its three terminals between January and June this year, according to report issued on Monday. According to the traffic report compiled by airport operator...
Kuwaiti information minister announced on Tuesday the government will introduce laws this year to regulate the use of social networking sites such as Twitter, amid public outcry over cases of alleged blasphemy and sectarianism. Kuwaiti lawmakers passed a legal amendment...
The start of the week saw the EU sanction being put in place against Iran and that was just a precursor of the events that were to follow. This week is considered important, if not huge, for the crude oil...
Today's Khaleej Times has reported the bonanza announcement made by the Dubai government that is set to add more comfort to the lives of Emirati nationals. According to the announcement by Sheikh Mohammad, Vice President of UAE and the ruler...
  Abu Dhabi Tourism and Culture Authority recently released their performance figures for the first quarter of this year. The Q1 performance has been commendable and has shown across-the-board growth in guest numbers, guest nights, average-length-of-stay and revenues. A comprehensive detail of...
Inspiring. Intriguing. Enthralling - Those would be the ideal adjectives to describe today's BOLDTalks event held at DUCTAC in the Mall of the Emirates, Dubai. What is BOLDTalks BOLDtalks are series of events that host a selection of acclaimed international speakers...
What is it that the banks fear today the most? There are a variety of risks in the global scenario.  If banks faced a perfect storm in 2008, then they are now set to face the next thing up -...
Chasing India's currency problem. It seems that India is constantly a step behind in the present investor confidence plunge in the country. With a lack of control over the falling currency, investors are leaving the country as capital outflows increase. The efforts...
Israel has allowed Gaza Strip to export locally-produced garments for the first time in five years. Reports coming from the besieged Palestinian territory said a truck carrying 2,000 pieces of clothing, predominantly wool, took the shipment headed to the...
NASA said the tsunami and the earthquake which hit Fukushima in Japan last year not only created chaos and destroyed almost everything at the ground but also left a bad impact on the skies above disturbing the electron pattern. The...
DP World Chairman Sultan Ahmed Bin Sulayem on Monday announced Istithmar World PJSC will transform its vessel Queen Elizabeth II into a 300-room luxury hotel that will be operational in 18 months. While speaking to reporters, the top Dubai shipping giant official reckoned...