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The ultimate Middle East business resource



Last Build Date: Wed, 28 Sep 2016 14:26:05 +0000

 



Infographic: regional economic commentary

Wed, 28 Sep 2016 14:08:42 +0000

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Global stock markets were on a roll after the dovish decisions by the BoJ and the US Fed with Wall Street scoring another set of records, but by the end of the week, the impulse faded. Not many regional markets joined the party with Saudi Arabia falling almost 2 per cent. The currency market saw […]



Sponsor a meal: A mission to counter worsening food crisis for refugees

Wed, 28 Sep 2016 13:51:34 +0000

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The refugee crisis is getting bigger and bigger thanks to the prolonged military conflicts in the region and recurring natural disasters and calamities around the world. Millions affected by such manmade and natural destruction are deprived of water, food and other basic needs.   Fortunately, there are initiatives taking place in various corners of the […]



Bahrain’s Diyar Al Muharraq signs $366m Islamic financing

Wed, 28 Sep 2016 13:18:50 +0000

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Bahrain-based real estate developer Diyar Al Muharraq said on Wednesday that it had secured $366 million in Islamic financing from four banks to develop a new housing project. The murabaha contract was signed with Al Salam Bank-Bahrain, Kuwait Finance House, Bank of Bahrain and Kuwait, and Al Baraka Islamic Bank of Bahrain. Murabaha is a […]



Uber launches global assault on takeaway meals market

Wed, 28 Sep 2016 13:18:35 +0000

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Uber Technologies is making an aggressive drive into takeaway meal deliveries, with the U.S. firm gearing up with a big staff recruitment campaign to enter at least 22 more countries. Reflecting its fierce determination to expand beyond its core taxi-hailing business, Uber will launch its UberEats service in Amsterdam on Thursday, the first day of […]



Saudi soften oil stance on Iran but OPEC deal still elusive

Wed, 28 Sep 2016 12:12:08 +0000

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OPEC might still agree an oil output-limiting deal later this year after failing to do so in Algeria this week as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to arch-rival Iran. Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeria and Libya would be allowed to […]



Abu Dhabi awards new container shipping terminal to China’s Cosco

Wed, 28 Sep 2016 08:31:44 +0000

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Abu Dhabi Ports has awarded China’s Cosco Shipping a 35-year concession to build and operate a new container terminal at Khalifa Port, the chief executive of the Abu Dhabi company told Reuters on Wednesday.   The terminal is expected to be operational in the first quarter of 2018, Mohamed Juma al-Shamisi said.   It will […]



Drone grounds Dubai airport again as UAE finalises new law

Wed, 28 Sep 2016 08:13:39 +0000

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Unauthorised drone activity has once again caused turbulence in the hot air of Dubai, resulting in the complete closure of airspace around the city’s busy international airport for nearly half-an-hour on Wednesday morning.   Operator Dubai Airports said the airspace around Dubai International (DXB) was closed from 8:08am to 8:35am this morning due to unauthorised […]



Markets: Round One: Clinton: 1 – Trump: 0

Tue, 27 Sep 2016 10:29:36 +0000

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Financial markets declared Clinton as the winner of the debate Mexican Peso rose by more than 1.5 per cent against USD after the debate Trump repeatedly raged against globalisation and free trade agreements, giving Clinton a higher probaboloty at reach the White House Round one of the US presidential debate is over and, as expected, […]



Faisal J. Abbas to head Saudi daily Arab News

Tue, 27 Sep 2016 06:00:59 +0000

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Faisal J. Abbas been appointed as editor-in-chief of Saudi Research and Marketing Group’s (SRMG) flagship English daily, Arab News Abbas headed Al Arabiya English for the past four years The new role takes him back to Jeddah, where he grew up The Saudi Research and Marketing Group (SRMG) — the Middle East’s largest integrated publishing […]



Saudi Arabia slashes ministers’ pay, cuts public sector bonuses

Tue, 27 Sep 2016 05:51:20 +0000

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Kingdom seeking to save money Low oil prices squeezing budgets Riyadh seeks to ease oil dependence Exception made for troops in combat Saudi Arabia will cut ministers’ salaries by 20 per cent and scale back financial perks for public sector employees in one of the most drastic measures yet by the energy-rich kingdom to save […]