| |  | | | | | | | |  | | | Global FX market stable, despite geo-political tensions | | | Viewed from 30,000 feet, it looks as though little has changed in the FX market over the past month. EUR and USD largely traded within a one per cent range, despite the European Central Bank (ECB) taking the unprecedented step of adopting a negative deposit rate in June. Even with a pickup in noise around Middle East geo-politics, most emerging markets have failed to pull away from USD by more than... | | | | | | |  | | UAE-Canada trade ties improve after aviation row
| | The UAE-Canada ties have come a long way since the 2010 aviation row, sparked by Ottawa's denial of more landing rights to Etihad Airways and Emirates Airline. Currently, the two nations are working toward strengthening their relationship and, as a result, bilateral trade surged...
| |  | | UAE e-labour card service not applicable to free zone firms
| | The UAE's Ministry of Labour will start issuing electronic labour cards and contracts for companies in mainland UAE from today (Sunday, July 13).
The ministry's new electronic service and the discontinuation of tangible cards and contracts is not applicable to companies within free...
| |  | | Saudi banks post strong growth
| | The Saudi banking sector is in positive territory as profits and customer deposits increase in the first half of 2014. Analysis of six months results of major banks in Saudi Arabia reveals that net income growth has accelerated during the period and net interest margins are favorable. Bank Al Bilad's net profit grew 18.72 per cent while Alinma Bank and Arab...
| | | | | | | | | | | Arabtec shares suspended as rumours of Aabar buyout surface
| | The Dubai Financial Market (DFM) suspends trading in shares for Arabtec.
Shares in construction giant Arabtec were suspended today (Thursday, July 17), following reports late on Wednesday that Aabar Investments, Arabtec's second largest shareholder (18.94%), was planning to buyout some of the shares currently owned by...
| | | | House of cards: Arabtec saga exposes Dubai market is resting on shaky ground
| | A turbulent week at Arabtec has contradicted an IMF forecast that Dubai is no longer a construction-driven economy. Last week's Country Report by the International Monetary Fund (IMF) highlights that Dubai's "economic growth has become more broad-based" compared to crisis-stricken 2008. It points out that the real-estate sector's share in the Dubai...
| | | | | | | | |  | | Iraq's instability affects regional markets
| | Political instability in Iraq is affecting regional markets, but domestic issues have been causing downward pressure, says an analyst.
Sherif Salem, Portfolio Manager at Invest AD's Iraq Opportunity Fund, says: "There aren't many factors pushing regional markets up at the moment and so events in Iraq aren't helping." Although Iraq is facing threats from ISIS, the market has a huge...
| | | | | | | | | |  | | Hospitality sector records high online recruitment activity, reveals research
| | The hospitality sector records the highest year-on-year growth in online recruitment activity in the Middle East in June 2014, reveals the Monster Employment Index Middle East. According to Alpen Capital's October 2012 GCC Hospitality Industry Report, the Gulf region's hospitality market is expected to grow by 8.1 per cent to...
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