Achieving the rank of 52nd out of 100 of the World’s Most Sustainable Cities, Dubai was also ranked first among the eight cities on the list from the region. The list was compiled by Arcadis, a construction consultancy company, and compiled by the Centre for Economic and Business Research. Abu Dhabi came in second of… Continue Reading
Category Archives: Region
Mondelez Restructuring Sending Workers to Singapore and Zurich
Due to global restructuring, the giant snack/candy manufacturer Mondelez will be reducing its Dubai presence over the coming months. The goal will be to reduce its international structure down from five world regions to only four. Mondelez is the company behind such popular treats as Oreo biscuits and Cadbury Dairy Milk. The region that will… Continue Reading
Oil Nations in the Balance Says Iraqi Oil Leader
Falah Alamri, the Iraqi OPEC governor warned oil producers, whether part of OPEC or not, to take a stand on the re-configuration of the global oil market, and soon. The senior Iraqi oil official said that not acting quickly could put oil-producing countries at risk of severe damage that could take a long time to… Continue Reading
Barclays to Cut 150 Jobs in Dubai
The downtown Dubai offices of Barclays Plc in Emaar square are closing due to worldwide overhaul in structuring of the giant lending institution headquartered in the U.K. Approximately 150 people will be fired, while others, such as bankers and support staff, will be move to Barclays’ office at the Dubai International Financial Center. The corporate… Continue Reading
Yahoo Leaving Dubai
Yahoo will be closing down its last office in the Middle East in April 2016. The US internet giant’s Dubai office is the last one which remained open since its offices in Amman and Cairo closed in 2014. Yahoo entered the Middle East Market in 209 when it purchased Maktoob, a Jordanian-based company for $164… Continue Reading
Candidate Carson Visits Syrian Refugee Camps in Jordan
In order to better acquaint himself with foreign policy, Ben Carson, retired pediatric neurosurgeon and Republican candidate for US president, toured refugee camps in Jordan. Carson was impressed with the camps, suggesting that these refuges be better funded so that they can support additional refugees until the conflict in Syria subsides and they can return… Continue Reading
German Delivery Hero Buying Middle Eastern Online Food Delivery Service
Berlin-based online food delivery company Delivery Hero Holding GmbH announced its intention to purchase Yemeksepeti.com for $589 million, to be paid in cash and stock. The goal is to expand their reach into Turkey, the United Arab Emirates and Qatar. Included in the terms of the deal will be that Yemeksepeti’s investors will become Delivery… Continue Reading
Crescent Petroleum: Pre and Post Hussein Era
Crescent Petroleum began its activities in the early 1970s, just before Saddam Hussein became Iraq’s Fifth President. Crescent Petroleum was the first ever “regional, independent [and] privately owned Middle Eastern petroleum company to engage in the acquisition, exploration and development of petroleum concessions.” And even though Hussein was nationalizing various industries, Crescent Petroleum remained independent.… Continue Reading
Many Middle East Businesses Not Cyber-Protected
A new report released by the anti-virus software company Symantec and the research firm Deloitte shows that many small to mid-size companies in the Middle East do not have adequate protection against internet attacks. The report affirms that only about 30 percent of Middle East-based companies have the necessary protection which would protect them from… Continue Reading
S&P Lowers Ratings of ME Oil Producing Countries
Due to the recent drastic decline in the price of oil, the S&P decided to lower the sovereign credit ratings of several Middle Eastern oil producing countries. The price of oil has crashed since June, with S&P cutting their forecast for average Brent oil from $105 per barrel down to $55 for 2015. An increase… Continue Reading