Author Archives: Salem Muhammod

Amman Building Receives Green Recognition

The Amman offices of the World Health Organization of the United Nations, a four story office building known as the WHO building, is the first building in Jordan, as well as the region, to receive the coveted Gold Leadership in Energy and Environmental Design Certification V2.2. The building is situated in the business district of…

Egypt Seeking $3.2 Billion in IMF Aid

Backtracking on their previous refusal of aid from the International Monetary Fund and the World Bank, Egypt requested $3.2 billion in loan money from the IMF on Monday. Egyptian officials decided that the money was essential to repair the Egyptian economy after a full year of political unrest which repelled tourists and investors alike. A…

Profits Increase by 22 Percent at the Arab National Bank

  The Arab National Bank of Saudi Arabia announced net profits for the fourth quarter of 2011 and the entire year, posting overall growth of 22 percent and 13.6 percent, respectively. The net profits for the fourth quarter of 2011 were SR 368 million. In 2010 profits totaled SR 301, which represents an increase of…

Iran Enriching Uranium in Isolated Mountain Bunker

According to a spokeswoman for the International Atomic Energy Agency, it has been confirmed that Iran is now enriching uranium at a new location in a mountain bunker, a setting which is difficult to strike in an attack. “The IAEA can confirm that Iran has started the production of uranium enriched up to 20 percent……

DTMFZA Finishing Construction of 40 New Buildings in Dubai

The Dubai Technology and Media Free Zone Authority (DTMFZA) is supervising the construction of 40 new buildings, to be finished early this new year. “Overall more than 200 sites are under construction, of which some projects are suspended. The progress of the sites is going on in a normal pace. We expect at least 20…

Jordan Implements New Metered Rates for Night Taxis

Hoping to satisfy both taxi owners and their customers, the Land Transport Regulatory Commission in Jordan has decided to create fixed night-time rates for taxis all across the country. The new regulations come after the LTRC received repeated complaints from consumers that taxi drivers do not use their meters at night. Countrywide Law The new…

Abu Dhabi Hotels Do Great November Business

According to data released by the Abu Dhabi Tourism Authority (ADTA), hotels and hotel apartments had a record high number of guests in the month of November. Fueling the rise in hotel stays was the third Formula One Etihad Airways Abu Dhabi Grand Prix. Guests Going Up The rise to 206,748 guests for the month…

Gulf States Show Interest in Afghan Oil and Mining Sector

Afghan Minister of Mining Wahidullah Shahrani said last Tuesday that his country is preparing to accommodate foreign investments in mining, oil and gas, including counterpart companies from the Gulf Cooperation states. “We have been communicating with Kuwait Energy and calls are being made with Emaar Mining (United Arab Emirates) and Maaden (Saudi Arabia). Both the…

Gaza Building Boom Comes from Underground

There is a building boom taking place now in Gaza, despite the blockade Israel has imposed on the Strip since Hamas took power there. The boom is due in part to an intricate network of tunnels dug into the sandy soil reaching from Gaza, extending over the international border, and ending in Egypt. Israel Allows…

Qatar Boosts Financial Services with $2 Billion Investment

Much Needed Injection In order to boost the development of Qatar as a center of finance in the Middle East, Qatar’s sovereign wealth fund has been quietly injecting up to $2 billion into the finance economy to allure asset management companies to establish themselves as key players in Middle East finance. Lackluster so Far According…