UAE central bank directs lenders to reconsider Emiratis’ loans
Lenders in the UAE have been directed by the country’s central bank to help reduce the debt burden of Emirati nationals. Some bankers are suggesting banks to write off certain personal loans. Click here to read more…
Middle East hotels’ rents down due to Arab uprisings; UAE tourism stable
According to Hotels Price Index, Arab uprisings during last year helped bring hotel costs in the Middle East region considerably down with the steepest drop coming in Qatar, where the average room rate fell 27% from $268 to $193, whilst rates in Egypt decreased 22% to $112. Hotel rents registered a decline of 21% in politically-volatile Lebanon slipping up to $176 on average. Click here to read more details…
Saudi investors to sue Egypt for asset seizures
Egypt will be taken to the international arbitration courts by Saudi investors for asset seizures that led to losses of over $350 million. Click here to read more details…
Bahraini parliament mulling Gulf Air’s future
Bahraini government has warned parliament’s rejection of a 664.3 million Bahraini dinar ($1.74 billion) payment to Gulf Air could ground the national carrier for good. Click here to read in detail…
Arab leaders vow to embrace online world
Middle Eastern governments have started to realise the extent to which freedom of information has empowered their citizens. Read more details by clicking here…
