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Qatar budget gap at $6bn in Q1, spending up

Qatar's budget ran a deficit equivalent to 23 per cent of annual economic output in April-June last year when government revenues
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Retirement age in UAE raised from 60 to 65 in labour law changes

The UAE has raised its retirement from 60 to 65, giving expatriates leave to work for a further five years, a Ministry of Labour official said
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Half of Middle East consumers see rosier finances in 2011

Nearly 50 percent of consumers in the Middle East expect their personal finances to be rosier in 2011, a survey has found
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Abu Dhabi GDP to grow by 3.8% in 2011

Abu Dhabi’s gross domestic product is expected to grow by 3.8 percent in 2011 to AED567.3bn ($154.4bn), the Abu Dhabi Chamber of Commerce
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Prince Alwaleed is Gulf’s most efficient boss – study

Saudi Arabia’s Prince Alwaleed has been named as the Gulf’s most efficient boss in a new survey by Arabian Business
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Bahrain central bank to end bourse management

The Central Bank of Bahrain (CBB) plans to stop managing the Bahrain Stock Exchange (BSE) to focus on its role of regulating the bourse
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Dubai Duty Free rakes in $1.27bn in sales in 2010

Dubai Duty Free raked in a record AED4.66bn ($1.27bn) in sales in 2010, representing a 14 percent rise in retail sales on 2009’s figures
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Oman to spend $78bn across five-year economic plan

Oman plans to spend OR30bn ($77.92bn) in its new five-year economic plan to 2015, including about OR6bn allocated to oil industry, the Gulf state's
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UAE ranks 5th in labour market efficiency

The UAE has attained advanced positions in terms of labour market efficiency ranking fifth in the 'Global Competitive Report
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World Cup won’t mean steep sovereign debt increase for Qatar

Qatar won’t see a “significant” increase in sovereign debt in order to build the stadiums, roads, rail and metro networks needed
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Egypt stimulus plan worth up to $3.4 billion

Egypt has adopted a stimulus plan with the aim of injecting EGP10 billion-20 billion ($1.72 billion-$3.44 billion) into the economy in
World

Al Baraka named best in region

Al Baraka Banking Group was named 'Best Regional Bank' at the Annual Islamic Business and Finance Awards ceremony
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