Violence has stepped up a notch or two in Syria as the government continues to crackdown harshly on anti-government protestors across the country. One hundred people or more have already died just this past week in the Syrian regime’s attempts to suppress rebels in the face of growing concern and criticism within the international community.… Continue Reading
Category Archives: Investment
HSBC Planning Job Cuts in Six Middle Eastern Countries
Beginning of Major Lay-Off Plan The bank which calls itself “The World’s Local Bank,” HSBC, has decided to lay-off at least 200 employees in six countries in the Middle East. The job cut of 200 in the region is just the beginning of a major reduction in worldwide employees reaching as many as 30,000 cuts… Continue Reading
UAE and South Korea Strengthening Economic Ties
Abdullah Khalfan Al Rumaithi, the United Arab Emirates Ambassador to South Korea said in an interview that the UAE is eager to enlarge and strengthen its partnership with South Korea, especially in the areas of renewable energy, oil, training, education, construction, shipbuilding, semiconductors, information technology and telecommunications. Two Leaders Meet Progress in the economic and… Continue Reading
Putting on the Ritz in Abu Dhabi
Those visiting Abu Dhabi will soon be able to do so in even more style. That’s because they are projecting to have the First Ritz-Carlton finished in the area by the end of 2011. Abu Dhabi National Hotels is spearheading the work, with CEO Richard Riley. Pushing for an Opening As Riley told Hotelier Middle… Continue Reading
Current Investment Climate in Arab Countries
According to the Arab Institute for Investment Guarantee and Credit Export 2010 report, 18 Arab states acquiesced approximately $64.3bn worth of investments compared to $83.9bn the year before. In addition, it was confirmed in the report that the foreign direct investment flows the Arab countries received went down by $19.7bn. According to a news report… Continue Reading
Sales Soar in Middle East for General Motors
The giant car manufacturer General Motors posted a rise of 22% in sales during the first half of the fiscal year, throughout the Middle East, in comparison to the same time-frame last year. Total car sales were reported to be 67,624 for the region. GM Sales Soaring Sales are recorded at the dealer outlets which… Continue Reading
Accor to Create 4,000 New Jobs in the UAE
Accor, the French hotel chain who owns Sofitel, Novotel and Ibis, has announced that it will be doubling its number of hotels in the UAE within the next three years. “The first four hotels will open sometime in the second quarter of 2012 and the Sofitel Corniche will open in December 2011,” Christophe Landais, managing… Continue Reading
Incomes Increase for Businessmen in the Middle East, Study Shows
A new survey conducted by Mercer shows that executives throughout the Middle East have voted themselves pay raises on the order of 5.7% on average. Managers Do the Best The data also points out those employees on the managerial level have also benefited from pay increases to an even larger extent then the executives, reflecting… Continue Reading
Skype Rebellion Met with High-Tech Listening
Skype was the method of choice for secure communications among anti-government organizers in Egypt during this past winter’s uprising, believing that Skype “cannot be penetrated online by any security device.” Government Listening However it turns out the protestors’ feelings of privacy were misplaced and Egypt’s security service was indeed listening in on their Skype conversations.… Continue Reading
UBS AG Hires Momdijan to Be Investment Banker for High Net-Worth Clients
The influential Swiss Bank UBS AG announced on Monday that the former banker of Crédit Agricole, the corporate and investment bank, Albert Momdijan is slated to take charge of UBS’s business with the mega-wealthy clients of the Middle East and Africa as of August 1st. Financial Advisor to the Mega Wealthy Momdijan was the… Continue Reading