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...
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...
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...
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...
Today’s top business and economy news from the Middle East and North Africa: Dubai’s bullish economic growth bears new risks: Citigroup report Citigroup’s chief economist for the Middle East said in a study published on Wednesday Dubai’s exposure to world economy bears...
Today’s top business and economy news from the Middle East and North Africa: Dubai posts strong visitor numbers Dubai has once again emerged as one of the most popular holiday destinations on the planet as new figures suggesting that tourists continued to flock to...
Today’s top business and economy news from the Middle East and North Africa: UAE govt approves deficit-less 2013 federal budget The United Arab Emirates Prime Minister Sheikh Mohammed bin Rashid Al Maktoum announced on Tuesday the government has approved a deficit-less 2013...
Today’s top business and economy news from the Middle East and North Africa: Top UAE banker says Islamic finance ethical model for global banking A top UAE banker said on Sunday Islamic finance can be an ethical and sustainable business model...
Today’s top business and economy news from the Middle East and North Africa: UAE top Middle East country in terms of starting business The UAE has been ranked as the top Arab country and 22nd globally in terms of starting a...
Today’s top business and economy news from the Middle East and North Africa: Fujairah oil port to become fully operational by year end The Abu-Dhabi – Fujairah pipeline, bypassing the Strait of Hormuz, is expected to be fully operational by the...
Today’s top business and economy news from the Middle East and North Africa: Global Ports purchases DP World stake in Far East port DP World, the world’s third-largest port operator, said on Monday it has sold its 25% stake in container...
Today’s top business and economy news from the Middle East and North Africa: UAE tops Arab capital outflow; Saudi leads regional FDI The UAE remained in the top position as the largest Arab capital exporter, investing nearly $57.8 billion in global...
Today’s top business and economy news from the Middle East and North Africa: Abu Dhabi included in the Global Cities list The fifth edition of Cities of Opportunity released by Price Waterhouse Cooper and the Partnership for New York City has...
Today’s top business and economy news from the Middle East and North Africa: UAE records $9.9bn fiscal surplus in 2011 The United Arab Emirates’ finance ministry said on Monday the state recorded a budget surplus of AED36.2 billion ($9.9 billion) in...
Today’s top business and economy news from the Middle East and North Africa: Abu Dhabi posts fastest economic growth in 2011 Data released by the Abu Dhabi government showed on Sunday the capital city’s economy grew 6.8% in inflation-adjusted terms last year,...
Today’s top business and economy news from the Middle East and North Africa: Dubai Limitless agrees restructuring of $1.2 bln loan Limitless, the indebted property arm of Dubai World, has reached an agreement with creditors to restructure a $1.2 billion Islamic loan, the company...
Today’s top business and economy news from the Middle East and North Africa: UAE bank giants lead China expansion march Two of the UAE's largest banks are leading an expansion drive into China as trade between the two countries continues its...
Today’s top business news from the Middle East and North Africa: UAE federal budget deficit hits $762m in H1- report The United Arab Emirates’ federal budget deficit has hit AED2.8 billion ($762 million) during the first half of this year, a...
Today’s top business news from the Middle East and North Africa: Etihad announces partnership with Air France-KLM Rapidly expanding UAE flag carrier Etihad Airways says it has struck a deal with Air France-KLM to market some of each other’s flights as...
Today’s top business news from the Middle East and North Africa: Etihad Airways eyeing opportunities in India, Asia Etihad Airways, which has been aggressively expanding on a global level through stake purchases in firms like Air Berlin and Virgin Australia, announced...
Today’s top business news from the Middle East and North Africa: Oman announces desalination plants worth $400m An Omani government official announced on Thursday there are plans in place to build three desalination plants at a cost of about $400 million...
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...
Today’s top business news from the Middle East and North Africa: Dubai state firm to take over troubled Zabeel – report A report published by Reuters said on Thursday state-owned property firm Dubai Real Estate Corp (DREC) has taken over management...
Today’s top business news from the Middle East and North Africa: Britain-Holland propose ‘full’ financial freeze, shipping ban on Iran Members of the European Union are discussing a sanctions proposal presented by Britain against Iran that calls for a ban on...
Today’s top business news from the Middle East and North Africa: Saudi king orders work on grand Medina mosque project Saudi state news agency reported on Tuesday King Abdullah has ordered the launch of a huge expansion project for the Prophet...
Today’s top business news from the Middle East and North Africa: UAE third most financially literate nation in Middle East – survey The latest Financial Literacy Index on Monday revealed consumers in the United Arab Emirates (UAE) have become more financially prudent over time,...
Today’s top business news from the Middle East and North Africa: Qatar, Egypt to boost energy cooperation; sign refinery deal Qatar announced it will go ahead with its strategic investments in Egypt to help the country get past the economic turbulence...
  Today’s top business news from the Middle East and North Africa: Dubai hotel occupancies drop during Ramadan; Jeddah, Manama, Amman benefit Occupancies at hotels across Dubai dropped to 69.4% in July, plummeting by 11.1% from the same period in 2011, a...
Today’s top business news from the Middle East and North Africa: IMF says Saudi may post small budget deficit in 2016 amid global recession The International Monetary Fund (IMF) said on Wednesday it expects oil rich Saudi Arabia, which has been running...
Today’s top business news from the Middle East and North Africa: Dubai 1000MW solar power park to be completed by 2030 Dubai’s electricity and water authority (DEWA) announced on Tuesday the emirate is working on the Sheikh Mohammed bin Rashid Al...
Today’s top business news from the Middle East and North Africa: Dubai to refinance maturing debt by issuing bonds Dubai finance chief said on Monday plans are in place to issue a bond to refinance part of AED6.5 billion ($1.8 billion) of...
Today’s top business news from the Middle East and North Africa: Dubai to build its first 'eco-mosque' Al Arif Contracting has been awarded the contract for the construction and maintenance of the UAE’s first eco-friendly mosque, and what will also be...
Today’s top business news from the Middle East and North Africa: Dubai introduces rewards system for safe drivers Dubai Police announced they have started a white points system to encourage motorists to follow traffic rules and help cancel black points, local...
Today’s top business news from the Middle East and North Africa: Economy to grow faster than IMF forecast: UAE Central Bank The Central Bank of the United Arab Emirates said the federation’s economy has shown “sustained resilience” and is likely to...
Today’s top business news from the Middle East and North Africa: Abraaj joins hand with US govt to launch $400m Middle East private equity fund Abraaj Capital, a leading Middle East private equity firm, announced it is going to set up a...
Today’s top business news from the Middle East and North Africa: UAE energy consumption 225% more than Europe Commercial and residential properties in the United Arab Emirates are using 225% more energy than their European counterparts, recently revealed figures suggested. “In fact,...
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...
Today’s top business news from the Middle East and North Africa: Dubai Airport July passenger traffic registers 6% increase Dubai International Airport’s passenger traffic increased 6% from a year earlier in July, with monthly traffic surpassing 5 million passengers for the first...
Today's top business news from the Middle East and North Africa: GCC integration plan needs more discussion – statement A plan to integrate six Gulf countries as proposed by Saudi Arabia last year in response to Middle East turmoil needed more...
Ageing population boosting demand for UAE Islamic savings products Sharia compliance is the key factor driving savings decisions by United Arab Emirates nationals, where an ageing population is expected to boost demand for Islamic savings products, a top Dubai-based National...