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Taiwan is a beautiful island country layered with the heritage of Taiwanese aboriginals, Dutch, Spanish and Chinese in a beautiful cultural amalgam of sorts. Endowed with magnificent peaks, green rolling hills, plains, basins, coastlines, lush forests and national parks, it is also a nature lover’s paradise. At the backdrop of […]
Taiwan as a hub of tourism is one that remains in relative obscurity. Boasting of myriad cultural legacies, Taiwan however is a must-see tourism locale. Man is a social animal. This popular phrase says it all for the inherent nomad who lives within each one of us and whose quests, […]
If you ever ask people what they know about Hong Kong, the most likely answer would be that it is one of the top financial centres in the world, offering an expensive skyline view for tourists. Indeed, they would be right. However, Hong Kong may offer you a little bit […]
The aviation and aeronautics domain is one that countries look to solidify as a mark of their proclaiming their presence in the biggest of economic stages in the world. Predominantly the most developed countries in the world are regarded to be pioneering leaders in the aviation sector, creating unprecedented commercial […]
The boom in education sector is a quiet engine behind China’s growth, says expert. As Arab companies embark on a quest to further expand their global footprint and enhance their position as reliable investment partners for complex international projects, new and promising investment segments are emerging. Many of these are attractive not only […]
Gold – the yellow metal that’s as priceless as the word can imply. Everyone wants to own gold, wants to buy it as an investment for the future. But not many do manage to invest in gold thanks to its ever-increasing prices. And the ones who do are quite careful […]
Ever since the Cold war ended, there has been a tentative and indecisive power structure reigning over the world. With the U.S. learning to walk without a substantive nation-state enemy, it was establishing itself as the new unipolar world power capable of taking control of entire political, social and economic […]
After a long busy day, many people search the web or switch on their cable television, to know what is coming about in this uncertain world. On every international news channel and portal website, they see guiltless people being deliberately harmed, tortured or killed, every day. Around the world, from […]
The Chinese government has committed itself to producing 16% of its primary (electrical) energy from renewable sources by 2020 (UNEP) Wind power surpassed nuclear power in 2012 to become China’s third-largest energy source. Back in 2007, due to the political leadership of then-President Hu Jintao and then-Premier Wen Jaibao of […]
In its latest report “Global Trends 2030: Alternative Worlds” issued by the National Intelligence Council, an analytical arm of the U.S. government’s Office of the Director of National Intelligence says that China’s economy is likely to surpass the United States in less than two decades while Asia will overtake North […]
During the election campaign, Mitt Romney’s statement that “China is a currency manipulator” resonated throughout his economic plan and he made it a talking point to drive through this opinion into the public domain. Many feel that China artificially depreciates its currency in order to expand its export base which […]
While some might think that the sky is falling now that a new President of China and a new Chinese Premier will be installed in March 2013 — Stephen S. Roach with his years of professional experience working with many of the individuals involved, tells us in his latest Project Syndicate article China’s Dream Team we should feel hopeful this time […]
Data emerging on Wednesday showed Iran’s crude oil exports to China dropped around a quarter in September from a year earlier due to delivery delays by Iranian tankers because of Western sanctions and a cut in condensate imports. According to data from the General Administration of Customs, China, which is Iran’s top […]
Chinese rating agency Dagong announced it is tying up with US-based Egan-Jones Ratings Co. (EJR) and Russia’s RusRating JSC to start a new rating agency. The new company called Universal Credit Rating Group will engage in producing responsible and reliable ratings. Egan-Jones Ratings Co. (EJR) was considered as a “nationally […]
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 2011, as it released the data to public for […]
An Iranian government official said on Monday China will come to rescue its long-term ally and help complete its $2 billion worth Tehran metro rail project which has been marred by delays due to lack of financing as a result of sanctions. Mohammad Montazeri, deputy managing director, planning & logistics, […]
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 $400m fund to boost small and medium-scale business in […]
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 discussion, Gulf Arab foreign ministers said on late Sunday after […]
Iran suspended a Chinese contract to build a liquefied natural gas plant in the Gulf port of Asaluyeh “until further notice,” the Mehr news agency reported on Monday. Tehran decided to halt the €2.6 billion ($3.3 billion) contract because the Chinese group involved was unable to finance the project, the state-run […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Pilgrims complain Makkah hotels Ramadan price hike Hotels and furnished apartments near the Grand Mosque in Makkah are already fully booked for the last 10 days of […]
Despite the gloomy world economy, global arms trade hit post-Cold War peak in 2012, a Russian report issued earlier this month revealed. According to the report, Russia’s Centre for Analysis of World Arms Trade said global military equipment exports hit $69.84 billion this year, the highest level since the end of the Cold War. Driven by complex factors including turmoil in the Middle East and huge appetite of international arms dealers, the alarming situation is likely to have huge ramifications for world peace. The trade registered a 3.84% increase to the tune of $67.26 billion in 2011, already 20% higher compared to $56.22 billion in 2010. Increases in 2010 and 2011 were a result of weapons deals that had been delayed due to the financial crisis that started in 2008, the report revealed. Li Qinggong, deputy secretary of the China Council for National Security Policy Studies, said the recent surge is due to rising security risks around the world, especially turmoil in Middle East […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa MasterCard Index survey reveals UAE consumer confidence highest since 2009 Consumers in the UAE are very optimistic in their attitudes towards the economy, a survey conducted by […]
Egypt’s auto retail sector, one of the largest in the Middle East and North Africa (MENA) region, has been hit hard by dwindling sales due to the recent political instability and economic slowdown, but pent-up demand is shoring up recovery, the Oxford Business Group said in its report on Thursday. […]
A Chinese think tank has said Arab uprisings that started in January last year across North African countries has had a limited impact on China-Africa trade. The annual report on African development released by the Chinese Academy of Social Sciences in early July said China-Africa trade volume in 2011 reached a historic […]
Oil prices tumbled as Chinese demand hit new lows due to weak economic conditions. “At present, our country’s economic growth rate remains within the target range set earlier this year and we are seeing the effectiveness of stabilisation policies,” Premier Wen Jiabao said in his speech. He also added that […]
Norwegian government ordered compulsory arbitration in the dispute and prevented a lockout that was scheduled to start on Tuesday. Futures slipped as much as 1.5% and oil for August delivery fell as much as $1.29 to $84.70 a barrel in electronic trading on the New York Mercantile Exchange. The contract […]
Qatar General Secretariat for Development Planning (GSDP) said on Monday it expected the country’s economic growth to slow to 4.5% in 2013 from a projected 6.2% this year, due to looming risks in the global economy, particularly in the euro zone. The commission also forecasted inflation rate to hover between 2-3% in […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa regions of the Middle East: UAE, GCC economy to witness robust growth despite geopolitical challenges The UAE will see a year on year GDP growth of 4.5% […]
A senior Qatari official said investment authorities are applying for the status of Qualified Foreign Institutional Investor (QFII) in China with an aim to seek investment quota of $5 billion. Mohammed Bin Saleh Al-Sada, minister of energy and industry of Qatar, said that by applying for the QFII status, the gas-rich […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa region: Kuwait court dissolves newly elected parliament day after suspension Kuwait’s constitutional court ruled on Wednesday the country’s Islamist-dominated parliament was elected unconstitutionally and restored the previous […]
Iran received a massive boost on Wednesday when two of its Asia’s four top buyers said they will keep importing crude by finding out ways around an EU ban on insuring tankers carrying Tehran’s oil. The Japanese parliament has approved plans that will allow the government to provide insurance cover. […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa region: UAE seventh on Global Retail Development Index A study released by a global management consultancy firm said four Gulf countries feature among top global emerging markets […]
Chinese telecom giant ZTE, also the world’s fourth-largest mobile phone producer, said on Monday it is entering the Tunisian market despite uncertain economic and political conditions in the North African country. ZTE’s announcement comes after a series of test launches since last year. The Chinese company is partnering with Tunisian mobile phone distributor […]
Press Release Chinese companies are becoming serious innovative competitors and China is becoming an innovation engine, according to the findings of a survey of multinational and leading Chinese businesses released on Monday. The 2012 China Innovation Survey, conducted by Booz & Company, a leading global management consulting firm, together with […]
A senior oil executive said Chinese refining giant Sinopec Corp, the biggest buyer of Iranian oil, has no intentions to raise its Iranian crude imports for the rest of this year as it is keen on avoiding tough US sanctions on Tehran’s oil trade. Washington has not put China on the […]
A look at today’s important financial news and business updates from the Middle East region: UAE’s Fujairah all set to become leading maritime refuelling hub The United Arab Emirates will begin pumping oil through a new pipeline in upcoming weeks that connects directly to its Indian Ocean port of Fujairah […]
A look at today’s important financial news and business updates from the Middle East region: Etihad secures 4% stake in Virgin Australia; Eyes further expansion Abu Dhabi’s flagship carrier announced on Tuesday it has acquired a 4% stake in Virgin Australia Holdings in a stock market transaction, strengthening its stake […]
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) rankings, thanks to its reliable infrastructure, business-friendly environment and […]
Iranian Energy Minister Majid Namjou announced on Thursday the cancellation of a $2 billion deal with a Chinese contractor to construct a hydroelectric dam and ceded it to its Revolutionary Guard Corps, official news agency Mehr reported. Iranian President Mahmoud Ahmadinejad is due to visit China next week for a security summit, where […]
A look at today’s important financial news and business updates from the Middle East region: Doha 2020 Olympic bid eliminated The chase to host the 2020 Summer Games was cut down to a three horse race between Istanbul, Madrid and Tokyo after Doha and Baku were dropped from the running […]
