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Middle East News

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    Fitch affirms Abu Dhabi’s ‘AA’ currency rating

    Abu Dhabi has a strong sovereign balance sheet, according to Fitch, both in absolute terms and compared to most ‘AA’ category peers. Sovereign external debt at the end of 2012 was just one per cent …

    Read full article » United Arab Emirates: Monday, August 26 - 2013 @ 09:33
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    Saudi youth population offers economic potential – but challenges

    This is a staggering 25 per cent of the government’s annual spending and approximately 10 per cent of the kingdom’s GDP, making it the world’s highest spending nation on education.

    The International Monetary Fund’s (IMF) Saudi …

    Read full article » Saudi Arabia: Sunday, August 25 - 2013 @ 16:57
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    Financial institutions put spotlight on risk management

    In response, banks and other financial services firms are increasing their risk management budgets and enhancing their governance programs.

    Deloitte’s eighth biennial survey on risk management practices, titled ‘Setting a Higher Bar,’ reveals that 65 per …

    Read full article » Middle East: Sunday, August 25 - 2013 @ 09:30
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    Korean firm wins bid for Jordan’s first nuclear reactor

    The Korean Atomic Energy Research Institute and Daewoo have united to create the Jordan Atomic Energy Commission.

    After a series of technical and legal delays, the research reactor project was green-lit by regulators – the …

    Read full article » Jordan: Thursday, August 22 - 2013 @ 14:43
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    Game on for FIFA-approved football complex

    Sports project investment specialist, Corner General Trading, scored the contract to bring the facility to the emirate’s leisure and retail destination, which is managed by Dubai Properties Group.

    The complex – expected to be completed by …

    Read full article » United Arab Emirates: Wednesday, August 21 - 2013 @ 16:50
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    World’s largest CO2 plant to be built in Saudi Arabia

    The United Jubail Petrochemical Company (UNITED), a manufacturing affiliate of the Saudi Basic Industries Corporation (SABIC), has awarded the engineering, procurement and construction contract for its Carbon Dioxide Utilisation Project to Germany’s The Linde Group, …

    Read full article » Saudi Arabia: Wednesday, August 21 - 2013 @ 15:25
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    Inmarsat ties with Cisco to expand eHealth coverage

    Inmarsat, the mobile satellite communications firm, announced its partnership with Cisco to provide connectivity for the TelePresence VX Clinical Assistant.

    It will allow Cisco to leverage Inmarsat’s global 3G satellite network, enabling medical teams to …

    Read full article » Middle East: Wednesday, August 21 - 2013 @ 10:13
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    India-UAE investments at $52bn

    India has emerged as a top investor in the UAE with nearly 26,500 firms operating in the emirates – excluding free zones.

    This means investment is even higher, says Paras Shahdadpuri, president of the Indian Business …

    Read full article » United Arab Emirates: Tuesday, August 20 - 2013 @ 16:03
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    UAE recruitment remains consistent

    In the UAE, 32 per cent of firms surveyed claim that they will be ‘definitely hiring’ within this time-frame, with 69 per cent of companies expecting to fill up to 10 positions.

    The latest Bayt.com Job …

    Read full article » Middle East: Tuesday, August 20 - 2013 @ 12:13
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    MENA unemployment highest in the world at 19%

    The ‘Payroll to Population (P2P)’ survey finds that 19 per cent of MENA residents are out of work. While 28 per cent of all citizens are ‘underemployed’, nine per cent are working on a part-time …

    Read full article » Middle East: Monday, August 19 - 2013 @ 17:06

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