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Sunday, 24 July 2016 This newsletter reaches 155,909 readers, to advertise click here

Forecasters say visibility across much of the country will be poor throughout day

Weekly sales dropped 56.7%, the lowest in the Saudi market in decades

Alba had reported weak earnings in the previous three quarters because of a collapse in global aluminium prices

PetroRabigh, a JV between Saudi Aramco and Japan's Sumitomo Chemical, cited price decreases for petrochemical products and lower refinery margins

Walid Juffali had been suffering from terminal cancer, was chairman of EA Juffali & Brothers conglomerate

Three out of four died en route from Libya to Italy

German-Iranian teen, who lured victims via a hacked Facebook account, had no Islamist ties

City’s transport authority to finalise app that will allow payments for all transport modes by 2017

Move for firms with Emirati owner or director is latest step to support sector

Officials could not determine whether the fire thought to have caused the crash had been set off by a mechanical malfunction or by a malicious act

Move comes almost three months after it shut down its US cable television network, Al Jazeera America, citing economic challenges in the US media market

Solar Impulse 2 took off from Cairo in darkness en route to Abu Dhabi with a flight expected to take between 48 and 72 hours

E7 is a mentorship platform to equip young women aged 18 to 25 with the necessary skills to unlock their potential and positively impact their communities


Why intellectual property fee hikes need to be redesigned

Several Gulf states have declared their intention to create ‘knowledge economies’ but high taxes on creativity do little to inspire, says Courtney Trenwith

How big are Saudi Arabia's oil reserves really?

There is widespread scepticism about the official estimates of kingdom's oil reserves, says Reuters analyst John Kemp

How the Brexit aftermath affects the GCC

There will be winners and losers as the global economy comes to terms with the still-unknown implications of the UK’s shock decision, says Courtney Trenwith

Is this third time lucky for Kuwait's struggling airport?

Delays in confirming a $4.34bn deal to revamp Kuwait International proves the country is still moving too slowly to develop its infrastructure, says Courtney Trenwith

It's not too late for Kurdistan

The autonomous region of northern Iraq may have fallen from its lofty heights of 2013, but there is still plenty of potential, says Courtney Trenwith

A cautionary tale from the Dubai property market

While a recent episode involving an off-plan developer and unhappy investors has been resolved, it should serve as a lesson to potential buyers.

Saudi Arabia’s economic balancing act

The kingdom needs to manage a fine line between delivering targets and not overrunning costs.

The case for consolidation in the UAE's banking sector

If two of the UAE’s largest banks can see the benefits in merging, why are the smaller institutions so reluctant, asks Courtney Trenwith

Latest Reader Comments

Real estate agent claims 'definite shift' in Dubai property market
Rajen : Just sold 2 apts in JLT after months of trying. On the second one at the agents advice, I increased the price by 100K and still achieved a quick sale. Would have held on had it not been for personal circumstances and needing to liquidate. ...
UAE - Sunday, 24 July 2016 12:03 PM

UAE to exempt some SMEs from need for bank guarantees
One Guy : So not equal opportunity?
That sounds like an excellent way to assist all of the SME's that have helped to make the country great....
DXB - Sunday, 24 July 2016 11:35 AM

Sheikh Mohammed and Crown Prince take trip on London Underground
H.A : Hello Steven,

Roads are not blocked as done in most of the countries for their swift passage.

In fact, HH moves around on his quite often unless of course its a requirement. ( Actually, I have never seen that in so many years out here )...
UAE - Sunday, 24 July 2016 11:35 AM

70% of UAE residents opt to rent rather than buy a home
Rakesh Kapur : Partially the legal system of the country is to be blamed for this. Hydra Properties washed its hand and did not give delivery of apartments to investors in Hydra Avenue. People, like me, who invested and won court case against Hydra Properties are yet to receive refund despite winning the case wa...
India - Sunday, 24 July 2016 9:37 AM

A cautionary tale from the Dubai property market
Ray Chaudhri : At least you are getting a bigger flat area at 2007 launch prices, which is not that bad if you have spare funds or the bank agrees to fund the excess proportionate to the earlier mortgage. What is very disturbing is that project by reputed developer AL ATTAR Group (Vue de Lac, Vista de Lago in JLT...
UAE - Sunday, 24 July 2016 9:37 AM




Average Dubai rents down by 6% in H1, double that of Abu Dhabi

Average apartment rents in Dubai calculated at AED131,000, compared to AED135,000 in Abu Dhabi


Saudi Arabia urged to free women from guardianship 'shackles'

New Human Rights Watch report says guardianship system is holding back 'limited reforms' in Gulf kingdom


Prime Dubai office costs highest in MidEast, dwarfed by Hong Kong

CBRE research ranks Dubai 23rd globally; office costs are less than a third demanded in Hong Kong


Bahrain says Q1 economic growth picks up to 2-year high

Economic Development Board announces growth hits 4.5% during the first quarter of 2016


Kuwait's Jazeera get nod to build $46m airport terminal

Jazeera Airways wins approval from Kuwait Council of Ministers for project to ease congestion at Kuwait Int'l


IMF urges UAE to prioritise bankruptcy law to help SMEs

Persistently lower oil prices continue to weigh on the UAE's economic sentiment and fiscal positions, says International Monetary Fund


Dubai aims to become test bed for new technologies

Crown Prince launches Dubai Future Accelerators initiative to bring together top firms and entrepreneurs to develop 'transformative technologies'


Bahrain says Iran-linked militant cell dismantled

Five suspects arrested after bomb-making materials, guns and knives are found in houses


Saudi Arabia denies issuing new fatwa against Pokemon

Council of Senior Religious Scholars refutes media reports that it has revived 2001 decree against card game


Hotels put up residents affected by Dubai Marina tower blaze

Dubai Civil Defence says residents will be able to return to Sulafa Tower only after firefighters give all clear


Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from the brink of a financial crisis that risked damaging the wider economy

How an exodus of professional workers is reshaping Qatar

Many of the foreign workers who make up the bulk of the 2.5m-strong population have been affected by lay offs

A changing landscape: Sultan Butti Bin Mejren

After a decade as director-general of the Dubai Land Department, Sultan Butti Bin Mejren says he is acting fast to improve regulation of the real estate industry and ensure it remains a thriving part of the emirate’s economy. He explains why he is adamant investors will keep coming

Could the GCC have a free zone-free future?

Free zones, particularly attached to major ports, have become key economic drivers for cities around the world. But as new megaports are developed across the GCC, some are questioning the continued relevance of special incentives

Breaking the mould: Shahid Khan

Gulf family businesses are persistently accused of restraining their own success by refusing to allow experienced outsiders to help steer the ship. But having taken two of the region’s biggest firms into unchartered expansion, veteran executive Shahid Khan is now making waves with his third, Kuwait’s Al-Yaqout Group

Digital dilemma: the future on advertising

If you’re not advertising online these days, you’re not advertising. The internet has already caused an industry revolution, but there is plenty more to come

The calm amid the storm: Patrick Odier

Steeped in two centuries of experience, Swiss private bank Lombard Odier is growing its Middle East client base as economic uncertainty ripples through the region. Sixth generation helmsman Patrick Odier urges investors to diversify their portfolios to shrewdly manage risk.

Behzad Golkar: Making the case for investing in Iranian capital markets

As CEO of one of Iran’s biggest financial institutions with plans to launch equity funds and a new investment bank, Behzad Golkar is part of efforts to make the country’s capital markets more accessible to foreign investors. This is no easy task, he says.

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