Category Archives: Investment

Iran Displays Sajjil Missile During Military Parade

The 31st anniversary of the commencement of the Iraq-Iran war was marked last week with a spectacular military parade complete with a display of Iran’s growing arsenal of short and medium range ballistic missiles. The solid-fuel Sajjil was brought back for another year, after its parading last year was such a success. The Sajjil missile… Continue Reading

Syria Cracks Down on Rebels Near Turkish Border

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

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

Israel Clashes with Protesters on Syrian Border

Despite several warnings from Israeli troops to stay away from the border, hundreds of pro-Palestinian demonstrators stormed the fence on Sunday until Israeli troops fired across the Syrian frontier, scattering the crowd in a panic. Syrian television is reporting at least four dead, including a 12-year-old boy, and 15 wounded, with the number of dead… Continue Reading