Tuesday 16 August 2022 \



Ramadan: No food cost increase in UAE

Source : The National / 30 Jun 2014 

Government officials will be monitoring the price of groceries in supermarkets during Ramadan to deter any unauthorised price hikes

Suppliers and retailers cannot increase prices of essential consumer commodities during the holy month without written consent by the authorities, said Sultan bin Saeed Al Mansouri, the Minister of Economy.


Britain's first Islamic bond draws torrent of bids

Source : Reuters / 26 Jun 2014

Britain became the first Western country to sell an Islamic bond on Wednesday, attracting 2.3 billion pounds in orders, more than 10 times the amount it was looking to sell.


ME investors to spend $180bn in real estate over next decade

Source : Saudi Gazette / 17 Jun 2014

Middle Eastern investors are expected to spend $180 billion in commercial real estate markets outside of their own region over the next decade, the latest research from global property advisor CBRE revealed.


Iraq insurgency threat pushes oil prices higher

Source : Euronews with Reuters / 16 Jun 2014

Oil prices have continued to rise on concerns that the Islamist rebel insurgency in Iraq could trigger civil war and eventually hit exports.

Brent crude was over $113 a barrelon Friday, having risen about $4 since the start of the week.


Russia takes the fifth place in the number of billionaires

Source : The Moscow Times / 13 Jun 2014

The number of households whose wealth exceeds $1 million in Russia has grown by 18.5 percent in 2013, reaching 213,000 last year, the Boston Consulting Group said in a report.


Unified visa for GCC tourists

Source : Arab News / 07 Jun 2014

The Gulf Cooperation Council (GCC) is expected to introduce a unified visa that would allow tourists to visit all six member-countries, which are Saudi Arabia, Bahrain, the UAE, Kuwait, Qatar and Oman.


Over 70 of world's population lacks proper social protection

Source : UN multimedia / 03 Jun 2014

More than 70 per cent of the world's population doesn't have proper social protection, according to a report issued by the International Labour Organization (ILO) on Tuesday.

The ILO defines social protection as covering both social insurance schemes such as social security pension systems and monetary transfers to lower income households.


Syria's economic losses reach almost $144 billion

Source : MiddleEastMonitor / 02 June 2014

A UN sponsored study reveals that Syria's economic losses since 2011 reached around $144 billion at the end of 2013.

Reuters news agency reported that: "The study, conducted by the Damascus based-Syrian Centre for Policy Research and commissioned by the United Nations and International Monetary Fund estimates of a 40 per cent contraction in GDP since the start the conflict in 2011." Losses are estimated at $143.8 billion, almost triple the Syrian GDP in 2010.


Thai Airways caters to Pakistan’s needs

Source : Halalfocus / 31 May 2014

The international aviation industry is heading for a halal revolution, as Thai Airways – one of the largest airlines in the world – becomes the first Asia-Pacific carrier to offer halal food to all passengers flying to and from Pakistan.


New Schengen visa center opens in Jeddah

Source : Saudi Gazette / 30 May 2014

A new joint VAC (Visa Application center) for Austria, Germany, France, Italy, Malta, Spain, Sweden and Switzerland was launched on Tuesday in Jeddah by VFS Global jointly with its local partner al-Etimad Modern Business Solutions Co.


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