Tuesday 3 May 2016

Saudi eyes new quotas, incentives to cut unemployment

Saudi Arabia's government plans a new set of labour quotas and incentives to reduce unemployment as it tries to wean its economy off oil exports, Labour Minister Mufrej Al-Haqbani said. The changes are part of a wider reform plan announced last week by Deputy Crown Prince Moh


Strong fundamentals drive Saudi retail market

The sheer size of the Saudi Arabia market driven by a growing, young population with a high disposable income represent good long-term potential for brands entering the market, said an industry expert. “The Saudi retail market offers investors a unique proposition,” a


Nearly a third 'paid bribe in some Mena states'

Nearly one in three citizens who tried to access basic public services in the Middle East and North Africa paid a bribe, a Transparency International report said today. According to a public opinion survey by the international anti-corruption group of nearly 11,000 adults in nine


US anti-trade shift would hit world economy

The more protectionist trade policy being pushed by US presidential candidates could lead America to renege on global trade agreements and deal a blow to the world economy, Mexico's economy minister said on Monday. While not naming candidates, Economy Minister Ildefonso Guaja


Kuwait strike makes austerity drive tricky for govt

A three-day strike by oil workers in Kuwait last month over pay reforms shows the government faces considerable opposition as it prepares to push through painful and controversial cuts to longstanding welfare benefits. Oil-exporting states around the Gulf are reducing subsidies f


Half of leading investors ignoring climate change

Almost half of the world's top 500 investors are doing nothing to address climate change through their investments, a study showed on Monday. A report by the Asset Owners Disclosure Project (AODP), a not-for-profit organisation aimed at improving the management of climate cha


Rising oil prices throw lifeline to shale producers

Brent prices for 2017 ended trading above $50 per barrel on Wednesday for the first time since mid-December following the largest and most sustained rally in prices since the oil slump started. The average for the 12 futures contracts expiring in 2017, called the calendar strip,


Mideast funds reduce cash as markets find floors

Middle East fund managers are reducing their cash holdings and building back long positions in equities and fixed income because of signs that markets have bottomed out, a monthly Reuters poll shows. During the previous six months, many managers retreated into cash because of sli


Is death reversible?

We are repeatedly told through the medical establishment that brain death is “irreversible” and should be considered the end of the line. Or is it? Two biosciences companies are studying a clinical intervention in the state of death. Bioquark, a company focused on the


Smartphone market shrank for first time in Q1

Global shipments of smartphones shrank 3 per cent in the first quarter from a year earlier in the market's first year-on-year contraction on record, researcher Strategy Analytics said on Thursday, reflecting growing strains on the industry. Strategy Analytics said in a statem

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