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Gulf countries

Dubai to host first ‘Global Islamic Economy Summit’

Source : / 15 Aug 2013

Industry experts will focus on six major pillars of the Islamic economy — Islamic Finance; Halal Food; Halal Lifestyle; Halal Travel; SME Development; and Islamic Economy Infrastructure — during the forthcoming ‘Global Islamic Economy Summit’ in Dubai.


Qassim hosts world’s largest date market

By Muhammad Al-Harb / 16 Aug 2013

Buraidah’s date season started and the air in the area designated for the city’s annual date market was filled with auctioneers’ calls to mark the start of the biggest agricultural economic activity in the world.


Obesity: Gulf states world ‘heavyweight’ contenders

By Faith Barker / 25 Jul 2013

People in the Gulf are among the fattest in the world, according to a recent U.N. report.

Kuwait fared the worst among Gulf states, with 42.8 percent of its adult population classed as obese. This puts it in the top 10 most obese countries in the world.

Saudi Arabia and Qatar are not far behind, with 35.2 percent and 33.1 percent respectively.

In the United States, often scoffed at for being a nation of fat people, 31.8 percent of people are obese.


Gulf retailers relish Ramadan boom

By Dina al-Shibeeb / 24 Jul 2013

The holy month of Ramadan, when Muslims fast from dawn to dusk, is boom time for Gulf retailers, with shops enjoying high demand from rich and poor alike.

“Every year, we see a surge in spending before the start of... Ramadan,” with “promotions on food items in the big supermarkets and hypermarkets” across the United Arab Emirates, said Sana Toukan, research manager at Euromonitor International.


EU to levy 4.7% duty on jet fuel imports from Middle East

Source : Reuters / 14 June 2013

The European Union will impose a 4.7 percent duty on jet fuel imports from the Middle East starting next year, officials said on Wednesday, in a move that could significantly increase costs for the EU’s embattled airlines.

Last month, EU officials said jet fuel imports could dodge the new tariff thanks to a waiver known as airworthiness certificates or EASA Form 1 certificates.


Most Arabs get news from TV

By Diana Al-Jassem / 12 June 2013

An estimated 78 percent of Arabs still get their news from television, with only 6 percent searching for it on new media platforms, according to Arab Index, an annual report issued by the Arab Center for Research and Studies.


Dubai skyscraper gets new twist as property market rebounds

By Nada Altuwaijri / 11 June 2013 

The developer of an eye-catching ‘twisting’ tower at Dubai Marina tonight said 80 percent of the property has been sold, as the 75-floor skyscraper was officially renamed during an elaborate opening ceremony.

Infinity Tower, which ‘turns’ 90 degrees as it rises about 310 meters into the sky, will now be named after its Saudi-based developer Cayan Investment and Development, the company said.


Amnesty sees 180,000 illegal workers leave Saudi, report says

By AFP / 10 June 2013

Some 180,000 illegal foreign workers have left Saudi Arabia since April 1 under an amnesty that allowed them to try to sort out their papers or leave without paying a penalty, a report said on Sunday.

“Between the beginning of April and the start of June, 180,000 foreigners left the kingdom for good,” the Okaz daily quoted Badr Malek, spokesman for the passports department, as saying.


UAE’s household wealth increases by 8.2%

By Zaher Bitar / 5 June 2013

The UAE’s household wealth increased by 8.2 per cent in 2012 while the total value registered at $400 billion belonged to 57,000 families across the emirates, according to The Boston Consulting Group’s (BCG) thirteenth annual global wealth management report, Maintaining Momentum in a Complex World: Global Wealth 2013.


Greater Arab free trade: Higher hydrocarbon prices boost surplus

Source : Arab news / 13 May 2013

The trade of the 18 countries in the Greater Arab Free Trade Area (GAFTA) grew 11 percent in 2012 to $ 2.1 trillion, according to new IMF trade data. This built on two prior years of strong trade growth of over 20 percent. However, most of the increase is the result of higher hydrocarbon prices rather than increases in the real volume of trade, according to QNB Group.


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