Economy
DFI pours $89bn in 17 Arab countries in 2008
The Arab Investment and Export Credit Guarantee Corporation (AIECGC) said that foreign investment inflow into the Arab world climbed to $89 billion last year, up from $74 billion in 2007. A report by the AIECGC gauging foreign investments pouring into 17 Arab countries in 2008 confirmed the above. However, a recent forum organised by the AIECGC in Beirut highlighted the need for concerted efforts to develop investment climate in the Arab region.
UAE and Saudi Arabia to lead GCC M&As in H2
Even though merger and acquisition agreements have fallen considerably across the GCC, in sync with the global slowdown, the UAE and Saudi Arabia may see most of the agreements happening in the second half of this year as far as the region is concerned.
Qatar eyes multi-asset bourse to diversify economy
The Qatar Exchange plans to expand beyond cash equities in the latest move by Qatar to diversify the economy of world's top liquefied natural gas exporter and challenge Dubai as the Gulf's financial hub.
CFH to increase its capital to LE240 million
Cairo Financial Investment Holding Company (CFH) is poised to increase its paid-in capital to LE240 million from LE110 million before the end of the current year to complete its expansionary plan in local and regional markets.
NoozzView; Qatar moves out of fast lane
Qatar may remain the fastest growing economy in the Gulf region by some considerable margin, its growth stoked by hugely increasing sales of gas - LNG terminals have recently opened for its exports in the UK and Bahrain - but to the relief of many, the pace is due to be slowed in the coming months.
Saudi-US trade at US$67bn
The volume of commercial exchange between Saudi Arabia and the US registered approximately US$67 billion in 2008, as Riyadh held onto its position as Washington's ninth biggest trade partner.
UAE-Gulf trade at US$16bn
The volume of commercial exchange between the UAE and GCC member-states jumped 42.4 percent to almost US$16 billion in 2008 compared to 2007, the trade balance with the Gulf bloc tilting in favor of the former by roughly US$1.7 billion.
Arab Gulf Cooperation Council, EFTA reach free trade deal
A Free Trade Agreement between the Arab Gulf Cooperation Council (AGCC) and the European Free Trade Association (EFTA) was signed in Hammer.
Iran-Iraq Trade Reached $4bn
At a meeting with certain economic activists of Khorasan Razavi Province, Abdeljasem said that Iraqi Consulate in the province is ready to expand trade and commercial ties with Iranian merchants and industrialists.
Dubai contributes more than 30% of the UAE economy
Dubai's economy represents more than 30 per cent of the UAE economy, with retailing and manufacturing comprising the largest shares, Ehsan Khoman, a researcher at the Dubai Chamber of Commerce and Industry, said at a conference.
Average annual household consumption expenditure: Dh135.300
Statistics Centre-Abu Dhabi (SCAD) released a report on household consumption expenditure in the Emirate of Abu Dhabi. The results of the Household Income and Expenditure Survey (2007-2008) revealed that the average per capita expenditure amounted to approximately Dh24,700; nationals spent Dh29,900 yearly on average, against Dh25,200 for a non-nationals and Dh12,000 for members of collective households.
UAE leads GCC remittance sector growth
Foreign workers in the United Arab Emirates transfer more than $10bn (Dhs36.75bn) per annum to their home markets making UAE the second highest performer in the GCC in fund remittance, according to Money Transfer International (MTI), the global trade association.
Al Wefaq seeks delay in move to scrap Bahrain sponsorship system
Pressure is mounting on the labour minister to revoke or at least freeze a decision to scrap the sponsorship system that would allow foreign workers to switch jobs with the consent of employers.