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If you intend to visit any Arab country, you are likely going to come across many indignant people criticizing the so-called international community for being a mere self-serving interest group. No matter where you are, whether at street corners, cafes, recreational facilities, social clubs or at any political gathering, you […]
As centuries ago as now, we find many policy makers, politicians and political analysts who still consider the abstract idea of double standard is a shrewd political craft. They simply justify and identify this double play as a mean to attain goals of interest. Apart from the far-flung stigmatization […]
On June 30, the political focus of most people was at Tahrir Square, in Cairo, to see the scheduled mass demonstrations, which were called up in opposition to Egyptian president, Mohamed Morsi, and against the dominance of Muslim Brotherhood of Egypt’s political life. Millions of Egyptian protesters flooded into Cairo’s […]
The End of History and the Arab Awakening What shall we call the era that we are now entering? The Arab Spring? The Age of Democracy? The Era of Islamist Renaissance? The Decline of the Arab State and Revival of Tribal Identity? A New Sikes-Picot Agreement? Although the motivation for […]
Though the Arab Spring brought a form of political liberation to Libya, it also led to a GDP loss of around 28.3 percent, or USD 6.5 billion for the Libyan economy. Before the Arab Spring, Libya exported 1.8 million barrels of oil per day, along with significant amounts of natural gas. […]
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 […]
Italy’s Eni is all set to invest $8 billion in Libya in the next 10 years to develop its upstream business.This move is widely been seen as a routine to gain more ground in Libya as a leading international oil and gas producer.According to a press release issued by the […]
A senior Libyan official said protests held by former rebels demanding medical treatment and jobs has costed Libya around $30 million so far. “The demonstration has cost the country at least $30 million until now,” outgoing deputy oil minister Omar al-Shakmak told AFP when asked about the demonstrations in the […]
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 downwards risks despite outperforming Abu Dhabi and other major […]
A senior British Petroleum official on Thursday announced the resumption of oil exploration activities in Libya and said the oil giant will drill 17 new exploration wells in the North African nation. Exploration activities were suspended in Libya last year due to the uprising against former Libyan leader Muammar […]
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 on Sunday it is set to extend its geographical […]
Libya central bank governor Saddek Omar Elkaber pledged on Monday the country will start implementing its new Islamic banking law by the end of the year and expected strong demand among the public for sharia-compliant financial services. Tripoli has been working to amend its legislation to attract foreign investment and stimulate […]
The relationship of a national authority to citizenry has been the subject of age-long arguments and indeterminate discourse. Most political theorists and analysts have unremittingly debated the way, whether by constraint or consent, social order should be maintained. And what is the best political formation and governance pattern in which […]
In a world that has become increasingly intolerant, suspicious and viciously hateful of each other, the culmination of events at the US consulate in Benghazi, Libya, and its aftermath is a painful reminder of the fact that mindless acts of violence are observed,so passionately, when borne out of religious conviction. […]
It is a customary practice to see Arab people browse for fresh news of the ongoing Arab revolts, called the Arab Spring. They find civil unrest in Tunisia, riots and regime destabilisation in Bahrain, tribal armed clashes in post-Gaddafi government in Libya, military conflicts with Islamic fundamentalists in Yemen, recurrent […]
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 […]
Libya is ready to export the first post-Gaddafi era shipment of fuel oil from Ras Lanuf, the country’s largest refinery, this week, a local shipping agent said on Monday. According to Al Omran Shipping Agencies and Maritime Services, the 45,000 tonne cargo is due to load on 5 September. Ras Lanuf, […]
Middle East Business News Review: Top Business News from the Middle East & North Africa UAE banks gain from European banks’ withdrawal Banks in the United Arab Emirates are filling the gap left by European institutions pulling back from the country’s loan market – a trend that benefits local lenders […]
A majority of Libyans (54%) surveyed in March and April 2012 approve of the leadership of the US – among the highest approval Gallup has ever recorded in the Middle East and North Africa region, outside of Israel – a survey showed. Last week, Libya’s National Transitional Council (NTC) handed over […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Dubai diamond trade hits $39bn in 2011, up 12% The total value of Dubai’s diamond trade, including rough and polished diamonds, soared 12% to $39 billion in […]
Reports coming from Libya on Sunday said 33 women have been elected to serve in Libya’s General National Congress in the first post-Gaddafi elections held two weeks ago. The tally gives women 16.5% representation in the 200-member interim authority. The next challenge for Libyan women will be to secure a foothold […]
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 by the prime minister and minister of foreign affairs […]
Libyan cities are flooded with thousands of campaign posters put up by people campaigning to elect a 200-member assembly which will lead the oil-rich nation over a short transition period – roughly 12 months if all milestones are met – with the main aim of delivering a constitution to govern future […]
The greatest challenge in the quest to Arab women’s empowerment is not religion but the lack of economic and social development and a dearth of perceived security, a Gallup Poll released on Monday said. The report urged policymakers to allow Arab women’s own priorities to guide efforts at gender equality. “The […]
A Libyan official said on Saturday his government will hire a Jordanian firm to help process financial claims filed by hospitals in Amman that treated around 55,000 injured patients flown from Libya over the past year. Private Hospitals Association chairman Fawzi Hamouri and director of the Libyan health office in […]
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 […]
The Libyan sovereign wealth fund chairman announced on Wednesday investigations on investment losses of $1.75 billion on structured products managed by Goldman Sachs and Societe Generale are underway. Mohsen Derregia, chairman of the Libyan Investment Authority (LIA), told reporters in Milan that the LIA is looking into how these investments were […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa region: Oman Air posts record 28% revenue rise in 2012 Oman Air announced on Monday its passenger revenue increased 28% during the first five months of the […]
Jordan has demanded Libya to pay more than $200 million in medical and hotel bills for tens of thousands of Libyans who were flown for hospital treatment in Amman after the overthrow of Gaddafi’s regime in an armed uprising. The Hashemite Kingdom, a top destination in the Arab world for medical care, is desperate […]
Abu Dhabi Investment Authority (ADIA) is the world’s richest sovereign wealth fund, according to a global organisation designed to study sovereign wealth funds. The Sovereign Wealth Fund (SWF) Institute listed ADIA’s assets at a staggering $627 billion. The Abu Dhabi Investment Authority was established in 1976 which replaced Financial Investments Board, part of […]
Russian Railways announced it is planning to participate in the Abu Dhabi railway project, estimated to cost around $2 billion, and various railway projects in the Middle East and North Africa region. “We have the best chances in the Gulf. Today we have all rights to think that we passed […]
A look at today’s important financial news and business updates from the Middle East region: 4 GCC states among top 10 world millionaire household countries Four GCC countries have been ranked in the top 10 worldwide list of millionaire households, reflecting the growth in private financial wealth in the MENA […]
Authorities in Libya announced on Thursday the scrapping of a limit on cash withdrawals, as part of plans to rebuild confidence in its banks amid liquidity crisis stemming from last year’s war. “We have lifted the ceilings … There are no limits any more,” central bank governor Saddek Omar Elkaber told […]
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 […]
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 cut oil prices as their losses soar. Members of the […]
British Petroleum said on Wednesday it is resuming exploration activities in Libya which were suspended last year due to the violent uprising against former Libyan leader Muammar Gaddafi. The announcement comes amid Royal Dutch Shell’s decision to halt oil exploration in the country due to ‘disappointing results’. BP signed a […]
A look at today’s important financial news and business updates from the Middle East region: ILO warns of worsening Arab youth unemployment ‘crisis’ More than a quarter of young people in the Middle East and North Africa region are unemployed, according to a new report published by the International Labour […]
The Libyan national oil company chief has claimed production has approached a level close to that seen before NATO-led intervention ground it to a halt. The North African nation’s oil production fell to 3% of its usual level last year with output reaching only 45,000 barrels per day (bpd) rather than […]
A look at today’s important financial news and business updates from the Middle East region: Etihad claims 3% stake in Irish flag carrier Reports coming from Ireland suggest Etihad Airways has formally acquired a 2.98% stake in Aer Lingus as part of its European expansion plans. Aer Lingus confirmed on […]
Opec output hits the highest since 2008 despite lowest Iranian supply in two decades A Reuters survey revealed that Opec output in April has hit its highest since 2008. The rise in output was mainly due to the rise in output from countries such as Iraq, Saudi Arabia, Libya, Angola […]
