Tag Archives: business

By James M. Dorsey   Israel knew the drill even before US Secretary of State Mike Pompeo boarded his flight to Tel Aviv earlier this month four days after the death of his father. It was Mr. Pompeo’s first and only overseas trip since March. Echoing a US warning two …

His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, on Sunday announced the approval of a three-year Dh50 billion budget for the Abu Dhabi Government Accelerators Programme ‘Ghadan 21’. “Dh20 billion will be allocated to the 2019 development …

By Ghassan Michel Rubeiz East Meredith, New York   This week a Swiss delegation led by President Alain Berset is visiting Lebanon to strengthen “bilateral relations”. The team is also discussing the pressing issue of the Syrian refugees. Lebanon hosts the largest refugee population in the world, per capita; and …

Saudi Arabia’s latest move to freeze all new trade and investment relations with Canada is unlikely to have a significant impact on the Kingdom’s economy, analysts said. The Kingdom early on Monday recalled its ambassador to Canada, and declared the Canadian ambassador to Riyadh persona non grata, giving him 24 …

Investors can set up new businesses and companies in the UAE in just 15 minutes now through the ‘Bashr’ online platform proposed by the TRA in partnerships with more than 50 federal and local governments. According to Hamad Obaid Al Mansouri, Director General of Telecommunications Regulatory Authority (TRA), the process …

Dubai-based Callix aims to capitalise on human interaction instead of impersonal digital personas to help small- and medium-sized enterprises in the UAE to drive business and unify customer experience. According to Forrester data, 72 per cent of businesses list customer experience improvement as a top priority. Arif Saiyad, founder and …

Last week’s announcement that private firms would no longer have to provide a Dh3,000 bank guarantee to recruit each new employee is just the latest of a series of measures aimed at transforming the UAE’s economy. The packages announced this year are an indication that the objectives announced in a …

The Middle East Public Relations Association (MEPRA) hosted the fourth Leadership Majlis today, the year’s major communications conference in Abu Dhabi. The 2018 edition brought together almost 200 industry professionals from more than 40 organisations, to uncover the industry’s biggest challenges trends and opportunities. Speakers included senior leaders from The …

The first fertility centre was opened yesterday in Ras Al Khaimah at RAK Hospital, in collaboration with the Bourn Hall Fertility Centre. The two entities will collaborate to provide comprehensive fertility services in Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah The collaboration will ensure top-of-the-line In Vitro Fertilisation …

Relocation is inevitable at some point in your life. It calls for moving/ shifting articles, possessions whether big or small to the new ambiance. Of all the shifting that you make, some of the elements & things that relocate along with you need to be taken care so that they …

New York state’s financial services regulator has issued a subpoena to Equifax Inc (EFX.N) demanding it provide more information about the massive data breach the credit-reporting firm disclosed this month, a person familiar with the matter said on Wednesday. New York’s Department of Financial Services (DFS) sent the subpoena to …

NMC Health, the largest private healthcare provider in the United Arab Emirates, has just been promoted to the UK’s leading FTSE 100 index. The company has emerged as the first Middle Eastern company to be listed on such index, which lists the top 100 companies listed on the London Stock …

By Donald J. Trump and Bill Zanker — Donald J. Trump is an icon: the very definition of the American success story. Republican Presidential candidate, reality-television star, and developer of some of the planet’s most prestigious real estate, he’s also become one of the world’s wealthiest men. Trump is a …

THE LEVANT NEWS — By Muhammad Zamir Assadi* — Islamabad: Corruption cases against a leading business tycoon and an owner of commercial bank in Pakistan are heaping up day by day but the pending investigations against the influential banker of putting these inquiries to logical conclusion are either hampered by …

Source: Reuters – The Daily Star – Despite the Lebanese government’s failure to provide proper support for the private sector in Lebanon, family businesses have seen remarkable success as the biggest providers of job opportunities in the country, experts say. “Family businesses provide over 80 percent of job opportunities in …

IN COLLABORATION WITH MIDDLE EAST BUSINESS NEWS – FIFA whistleblower Phaedra Al-Majid, who accused Qatar of corruption in its successful bid to win the right to host the 2022 soccer World Cup, said on Wednesday she was living in fear after receiving threats against her family. Al Majid, a former …

IN COLLABORATION WITH MIDDLE EAST BUSINESS NEWS – If Saudi Oil Minister Ali al Naimi (pictured below) wants to stop conspiracy theories spreading before a crucial OPEC meeting next week, it’s too late. Naimi’s intervention last week after a two-month silence failed to address a question energy markets want answered: …

IN COLLABORATION WITH MIDDLE EAST BUSINESS NEWS  – New aircraft and fresh routes will help Dubai’s flagship carrier Emirates grow profit by no less than eight to ten percent in coming months, its president said on Wednesday. “We will continue to grow at a percentage which is never going to …

THE LEVANT IN COLLABORATION WITH MIDDLE EAST BUSINESS – Qatar’s government spending fell 6.6 percent from a year ago to QR38.8 billion ($10.7 billion) in the first quarter of the current fiscal year, while revenue soared to a record high, central bank data has showed. The central bank did not …

THE LEVANT IN COLLABORATION WITH MIDDLE EAST BUSINESS – The UAE has been named one of the top 10 economies in the world for improving the business environment for local companies. The World Bank’s Doing Business 2015 report said the UAE had enhanced the administrative efficiency of its land registry, …

THE LEVANT IN COLLABORATION WITH MIDDLE EAST BUSINESS  – Kuwait’s emir said on Tuesday a fall in oil prices cast a shadow over the OPEC member state’s economy, showing the need to diversify sources of income that rely heavily on petroleum. In a speech to the opening of parliament, Sheikh …

THE LEVANT – Jazeera Airways Group on Wednesday announced a record net profit of KD8.1 million ($28 million) for the third quarter of 2014, up 22.6 percent on the year-earlier period, making it the company’s best quarter in history. Operating revenue for the quarter totalled KD23.1 million, up 15.2 percent …

THE LEVANT – A total of nine heads of state, 12 ministers, four central bank governors, and about 2,000 delegates from more than 100 countries have started to arrive in Dubai for the 10th World Islamic Economic Forum (WIEF). Heads of government and heads of state attending the event from …

THE LEVANT – The International Monetary Fund on Tuesday lowered its economic growth forecasts for most Arab countries although it said growth in oil-rich Gulf nations will remain strong. In its semi-annual World Economic Outlook, the IMF said the Middle East and North African (MENA) region would grow by 2.6 …

THE LEVANT – Saudi billionaire Prince Alwaleed bin Talal said he had “a fundamental difference” of opinion with Saudi Oil Minister Ali Al Naimi on the kingdom’s policy not to reduce oil production in the wake of declining prices, but stopped short of demanding the minister’s resignation. Prince Alwaleed last …

THE LEVANT – Saudi billionaire Prince Alwaleed bin Talal said the world’s top oil exporter should start worrying about the recent slide in global oil prices and warned against the negative effect of such a drop on the state revenue. In an open letter to Oil Minister Ali Al Naimi …

THE LEVANT – Oil-rich United Arab Emirates on Monday launched a project that aims to send the first Arab unmanned probe to Mars by 2021. The Gulf state set up the UAE Space Agency to supervise and finance the “Emirates Institution for Advanced Science and Technology to execute and manage …

THE LEVANT – Dubai SME has launched a new hub to stimulate innovative entrepreneurial projects of the emirate’s youth. Presented to the public at Dubai Mall’s Star Atrium, the Hamdan Innovation Incubator (H2I) was established under the patronage of HH Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince …

THE LEVANT – Opec is unlikely to cut oil production in an effort to prop up prices because such a move would not necessarily be effective, Kuwait’s oil minister Ali Al Omair was quoted as saying. Brent crude oil settled at $90.21 a barrel on Friday after earlier falling to …

THE LEVANT – Markets fell globally after a raft of weak indicators from Europe and China collided with concerns about the U.S. Federal Reserve’s plans to reduce monetary stimulus. Stock markets in the United Arab Emirates fell sharply on Sunday as declines on global bourses sparked a broad sell-off in …

THE LEVANT – A high-level Russian energy ministry delegation will meet UAE officials tomorrow to push for deals with the UAE, including oil concessions for Rosneft, and gas supply deals from Gazprom, the country’s two leading energy companies. Russia’s deputy energy minister, Yury Sentyurin, said he and other top Russian …

THE LEVANT – Developer Nakheel has awarded a contract worth almost AED120 million ($32.6 million) for infrastructure work at its Al Furjan community in Dubai. The agreement with Dubai-based Target & Jima Construction Company covers the construction of 16km of roads and the preparation of nearly 500 third party villa …

THE LEVANT – A ‘bingo’ deal? You’ll know it  when you see it,” says Jassim Alseddiqi. “Before you execute that transaction, before you get the money. The ‘bingo’ feel of the transaction happens when you first source it.” Alseddiqi knows that moment better than most. As the chief executive of …

THE LEVANT – One of the UAE’s biggest food and beverage groups has announced the appointment of a new CEO. Agthia Group named Iqbal Hamzah as CEO, effective immediately, having previously held the position of Group chief financial officer and company secretary. Since May, he has also been acting CEO. …

THE LEVANT – Increased regulations in Dubai have meant that property speculation has become more difficult, according to Rera CEO. Speaking during a real estate seminar at CityScape, Rera CEO Marwan Bin Ghalita said the Land Department has made a number of changes aimed at reducing the number of speculators, …

THE LEVANT – The Corporate Perception Indicator: A Global Survey from Main Street to the Executive Suite polled 25,000 individuals from the general population and 1,800 business leaders in 25 countries, including the UAE, on their opinions about the role of corporations in society and the economy. International polling firm …

THE LEVANT – A former Sony Pictures Television Arabia producer, who launched Arabic versions of popular western TV shows such as The Voice, Wheel of Fortune, Jeopardy!, Ugly Betty and Who Wants to be a Millionaire?, has set up a Dubai-based production company aimed at targeting the reality TV sector, …

THE LEVANT – A second financial market, which will exclusively trade shares in private companies, is set to start operating in the UAE within the next few months Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and ruler of Dubai, has approved the Second Market plans after …

THE LEVANT  – By Courtney Trenwith  -Whether or not you lived in Dubai during the economic crash, you would have no doubt heard the stories of luxury Ferraris and Lamborghinis abandoned at the Dubai International Airport car park, while countless debtors fled the emirate unable to repay the mountains of …

THE LEVANT – Deyaar Development on Sunday unveiled the masterplan of its upscale AED3.5 billion ($952 million) ‘Midtown by Deyaar’ project which will include a total of 27 buildings. The 5.5 million sq feet masterplan comprises two hotels on the northern and southern tips, along with 13 separate residential buildings …

THE LEVANT – Construction has started for the first ever integrated staff housing complex to be built in Makkah, Saudi Arabia, Arabian Business can reveal. The project, which was recently inaugurated by the Governor of Makkah, Prince Khaled Al Faisal, is being developed by Diyar Al Balad, a consortium of …

THE LEVANT – Dubai Silicon Oasis Authority (DSOA) on Saturday announced plans to set up the Dubai Technology Entrepreneurship Centre, the largest entrepreneurship centre in the MENA region. Set to be launched in Q1 2015, DTEC will encompass over 3,600 square metres in Dubai Silicon Oasis, the free zone technology …

THE LEVANT – Guests from Saudi Arabia and from within the UAE will keep hotels in Dubai and Abu Dhabi busy this Eid. Occupancies at both cities are expected to hit their peak during the week, especially those close to leisure attractions, said Rashid Aboobacker, a senior consultant with TRI Hospitality …