Month: August 2014

8 new companies registered in Bahrain with a capital of 910 thousand dinars

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Reading time: < 1 MinuteThe Bahrain Investors Center, which is responsible for licensing industrial and commercial companies in Bahrain, registered 8 new companies engaged in various commercial and industrial activities in the country during the week of August 9–14, compared to the 24 companies registered during the first week of August (August 2–7), out of a total of 153 commercial registrations recorded in … Read more

Appeal overturns 33 million square meters of land in Jeddah worth 90 billion riyals

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Reading time: < 1 MinuteSources within the Ministry of Justice have revealed that a property in Jeddah covering an area of 33 million square meters, with the price per square meter varying from one location to another, but general real estate estimates put its total value at 90 billion riyals, has been submitted to the Judicial Rulings Review Department at the Court

AED 37.5 billion pumped into Dubai real estate by foreigners and Arabs

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Reading time: 2 MinutesThe Dubai Land Department revealed in its semi-annual report that investors from 20 Arab and foreign countries concluded 17,289 real estate investment transactions in Dubai, with a total value of approximately 37.5 billion dirhams. The report showed that Arab investors concluded 3,058 transactions worth over 6.905 billion dirhams. Jordanians topped the list of Arab investors in terms of value for the first half … Read more

A program developed by 120 specialists and experts, with preparations underway for 35 sub-programs; «Thermal Insulation» is at the forefront of the Kingdom’s new energy conservation system

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Reading time: 2 MinutesSaudi authorities have imposed additional regulations regarding energy consumption and waste by requiring citizens to use thermal insulation in new homes, as official estimates indicate that 70% of buildings in the Kingdom are not thermally insulated. These authorities have confirmed that thermal insulation helps reduce energy consumption by 30 percent, and coordination has taken place with the relevant agencies… Read more

Currency markets record the highest global performance

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Reading time: < 1 MinuteThe Kuwait Finance and Investment Company (KFIC) stated that trading activity and the performance of global currency and derivatives markets reached their highest levels from the beginning of the year through the end of the second quarter. Hamed Abu Saada, the company’s director of trading in currency and derivatives markets, said that these markets were supported by positive economic data from both the United States and Europe. Abu Saada explained that this … Read more

Maintenance work begins at Glass factory in Dammam

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Reading time: < 1 MinuteThe National Glass Industries Company (Zajaj) announced that, in accordance with the maintenance schedules for the company’s factories, maintenance work—including the reconstruction of the furnace and the modernization of the production line—began yesterday and will continue for one month. The company clarified that all production orders for the Dammam plant will be transferred to the Riyadh plant for production during this period, noting that the impact … Read more

«Investment» offers more facilities for establishing businesses

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Reading time: < 1 MinuteThe Board of Directors of the General Investment Authority approved the deletion of paragraph (3) of Article 8 of the Executive Regulations of the Foreign Investment Law issued on 12/5/1435 AH, which previously stipulated «New license applications from companies seeking to engage in the same activity shall be treated as an expansion of the existing project,» in a new step within a series of measures recently taken by the Authority to facilitate all necessary avenues for the growth and prosperity of international companies wishing to … Read more

«Human Resources Committee»: 56 countries apply the unemployment system «Insurance»: There is no truth to the amendment of the pension calculation method

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Reading time: 2 MinutesThe General Organization for Social Insurance has confirmed that recent reports circulating in newspapers and on social media—claiming that the organization will use the average salary for the entire duration of a subscriber’s membership instead of calculating the average of the last two years—are false. Abdullah Al-Abduljabbar, the agency’s official spokesperson, said: “The method for calculating pensions is specified in accordance with the provisions of the Social Insurance Law, whereby it is calculated based on the average … Read more

U.S. state revenues declined in the second quarter

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Reading time: < 1 MinuteTraders on the New York Stock Exchange. A report showed that revenue in most U.S. states continued to decline in the second quarter of the year, with 36 states reporting an overall decrease of 0.8 percent compared to the same period last year. Total state tax revenue fell by 6.5 percent due to a decline in personal income tax revenue, which constitutes the largest share of revenue … Read more

GCC countries' fiscal surpluses keep their investment environment strong

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Reading time: 2 MinutesA specialized economic report predicts that Gulf countries will continue to maintain a strong investment environment over the next four years, supported by major planned infrastructure investments in several countries in the region. The report stated that the strength of the Gulf’s business environment stems from its substantial fiscal surplus, given that it is one of the major producers of oil and oil derivatives, and thanks to high prices … Read more

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