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
Category Archives: Regional
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
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
IMF Says MENA Will Need $160 Billion In Coming 2 Years
The International Monetary Fund (IMF) prepared a report for the G8 summit which was held at the end of last week in Deauville, France which stated that the oil-importing nations in the MENA region (Middle East and North Africa) will need a boost of at least $160 billion of external funding to get them through… Continue Reading
World Bank Takes Optimistic View towards Mideast Upheaval
Long Term Positive Prospects The World Bank released a report on Tuesday saying that despite the short-term downward movement of Middle Eastern and Northern African economies, in the long run the world can expect to see positive movement in that region. The report is the World Bank’s regional economic update for May 2011 for the… Continue Reading
Egypt to Borrow $4 Billion from Saudi Arabia
Tantawi Announces Loan from Saudi Allies Field Marshal Mohamed Hussein Tantawi of Egypt told the official Egyptian press agency, MENA on Saturday that Saudi Arabia will lend Egypt emergency monies in the amount of $4 billion. Tantawi, who is the head of Egypt’s ruling military council said, “The $4bn will be distributed in the form… Continue Reading
European Bank Considering Expansion Into MENA
Despite the recent and ongoing turmoil in the Middle East and North Africa, the European Bank of Reconstruction and Development (EBRD) is considering expanding their business into the area. Bank Seeks Expansion into Middle East At present the bank supports projects in Eastern Europe and the former states of the Soviet Union, but yesterday they… Continue Reading
Hamas Ends Salafist Protest in Gaza City
Salafists- Islamists who are more conservative than Hamas- staged a protest in the Hamas-led Gaza strip on Saturday carrying posters of Osama bin Laden and chanting “We warn you America, we warn you Europe!” Hamas Stops Salafist Demonstration Hamas broke up the gathering of dozens of Salafists who were denouncing the raid by US forces… Continue Reading