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 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...
A look at today’s important financial news and business updates from the Middle East region: UAE, Saudi promise Korea to plug Iran oil supply gap South Korean Finance and Strategies Minister Bahk Jae-wan said the UAE and Saudi Arabia have vowed...
UAE VOWS TO PROTECT CONSUMERS FROM COKE, PEPSI PRICE VIOLATIONS Hashem Nuaimi, head of Consumer Protection Department the Ministry of Economy, vowed to pull Coca-Cola and Pepsi cans off the shelves as both beverage companies violated consumer protection rules. "Pepsi...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Turkish hotel chain unveils Middle East, including UAE, expansion plans  Turkish luxury hotel chain Rixos unveiled plans to...
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...
The massive earthquake in Turkey has grabbed headlines of today's newspapers. Khaleej Times said as many as 1,000 people are feared dead when a powerful earthquake measuring 7.2 on Richter scale hit the scenic city of Van and surrounding districts...
Barclays bank announced it is willing to extend financing to the Government of Dubai if and when needed as it expects the emirate will support state entities help meet their debt obligations during this year. "We have a level...
Middle East Business News Review - A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Tehran claims US sanctions against Iran to hurt UAE domestic fuel market An Iranian newspaper report claimed US...
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...
Sheikh Mohammed has approved an AED2bn construction package that oversees several tourism, residential and commercial projects across Dubai emirate. "The projects include the renovation of Al Maktoum Hospital, expansion of Le Meridien Airport Hotel, development of Al Muraqqabat and...
A look at today’s important financial news and business updates from the Middle East region: Investors show strong interest in Dubai’s Sukuk bonds The Government of Dubai announced on Thursday it would be raising $1.25 billion in two 5 and 10...
The front pages of today's UAE newspapers have published mixed stories ranging from national to international issues. Khaleej Times reported the government is mulling new welfare plans for expats and an unemployment insurance scheme for UAE nationals. The announcement comes...
A look at today’s important financial news and business updates from the Middle East region: Dubai Economic Council forecasts 4 to 5% GDP growth for 2012 Dubai’s Economic Council said the emirate’s GDP will grow by 4 to 5% this year,...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: FIFA names investigators to probe Qatar World Cup FIFA named independent ethics investigators to look into allegations of...
According to a report released by the Dubai Economic Council, Dubai's GDP is set to grow 4.1% in the first quarter this year. The Dubai Economic Outlook 2011 suggested GDP growth is likely to suffer later during the year...
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...
A look at today's important financial news and business updates from the Middle East region: ATIC invests $2.4m into semiconductors research centre The Advanced Technology Investment Company (ATIC), a wholly-owned subsidiary of Mubadala Development Company is setting up research centre in...
A look at today’s important financial news and business updates from the Middle East region: UAE facing fuel subsidies dilemma The UAE government has setup a top-level body to review state fuel subsidies amid calls by national retailers not to further...
Heavy fighting in Libya and floods in Pakistan dominate the front pages of The National and Khaleej Times with big photographs of the affected people wading through knee-deep waters taking centre stage. Gulf News, however, has published a 5-column...
Hyundai’s engineering arm scoops $1.5bn Saudi alumina project  Seoul based Hyundai Engineering & Construction has won the $1.5 billion construction contract for an alumina refinery, part of the multi-billion dollar project to develop a fully integrated aluminium complex in Ras...
A look at today’s important financial news and business updates from the Middle East region: UAE one of the top Middle Eastern countries in ‘world competitiveness rankings’ The UAE managed to climb 12 places in the 2012 World Competitiveness Yearbook (WCY)...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Shard opened by Qatari PM, Duke of York Europe’s tallest building has been officially unveiled in central London...
An Abu Dhabi Islamic Bank report on 'GCC Banking Competitiveness' said the UAE remains the most competitive banking market in the Gulf region. The findings revealed country's 51 banks serve a population of around 8 million with more than...
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...
Oman Air has also made a spectacular move to match regional rivals Emirates after the Muscat-based airlines announced an order of six Boeing 787-8s Dreamliners at the Dubai Airshow. Oman Air currently operates direct flights to 41 destinations across...
According to the UAE's leading recruitment consultancies, hiring initiated by Abu Dhabi's state-linked companies for the construction and competition of infrastructure projects would rein in staff redundancies. ?The Abu Dhabi developers particularly have been letting a lot of people...
Middle East benefitting from Asian high-sulphur gasoil demand Refiners in the Middle East are using high-sulphur gasoil to create an environmentally friendly fuel in order to feed the demand for cleaner and cheaper alternatives to petro-carbons. Click here to read...
The United Arab Emirates has been ranked fifth in the world in terms of government spending efficiency in the 2011-12 Global Competitiveness Report of the World Economic Forum. The report highlighted the UAE's efficient and transparent performance in terms...
A look at today's financial news and business updates from the Middle East region: UAE minister expresses concern over threats to regional shipping The UAE’s economy minister expressed his concerns over persistent piracy, volatile oil prices and threats to shut down shipping...