The mandatory practice is unfamiliar to many local businesses but must be complied with in order to tap the growing markets.
The new duty comes after the European Union removed the Gulf states from its generalised scheme of preferences.
The two were detained since they reported on the protests that have been taking place in Turkey for almost two weeks.
Saudi Arabia and Oman have so far signed up to buy Typhoon jets and the plane is also vying for a UAE deal.
Demonstrations began two weeks ago and so far three people have been killed and about 5,000 hurt.
The company, which operates brands such as Sharaf DG and Forever 21, is rapidly expanding across the region.
Members of the Lebanese militant group Hezbollah intervened in Syria’s civil war in support of President Bashar al-Assad.
About 69 per cent of Middle Eastern institutional investors polled by Natixis expected to increase allocations to alternatives.
Both Washington and Amman said on Sunday the Eager Lion exercises were not related to the war in Syria.
The contract to build Saraya Aqaba was awarded to a consortium of Arabtec, Drake and Scull and Consolidated Contractors Co.
Mondelez International’s president for EEMEA said the maker of Oreo cookies has spent at least ten years on research.
Is continuing instability and stalled LNG production in the Middle East causing the region to lose its competitive advantage?
Sectarian violence fuelled by Syria’s civil war has broken out in the northern Lebanese city of Tripoli.
Regional carriers are benefitting from increased passenger demand and high connectivity.
The telecoms operator will offer 55.9 million shares at one dinar each.
The German airline’s CEO Christoph Franz said that Lufthansa may enter a partnership, but there was “no rush.”
Hundreds of police and protesters have been injured since riots began on Friday.
DHL and Microsoft lead the list, finds the latest survey by Aon Hewitt.
The GCC has called Hezbollah’s involvement in Syria “sectarian intervention”.
Development of sharia-compliant hedging tools is making it easier for issuers to invest in foreign currency assets, say experts.
The project will allow both countries to share power of up to 3,000 megawatts.
We now know why but need to determine how, says Hannes Reinisch, senior manager for renewable energy and sustainability, PwC.
Triple digit oil has encouraged development of U.S. shale oil in North Dakota and Texas, some of which is the most costly in the world.
The MasterCard Cities Index report showed the UAE’s capital has a growth rate of 16.1 per cent in relation to visitor numbers.
While 17 per cent of regional CEOs are more confident than their global counterparts, they are seven per cent less sure than last year.
The quake occurred about 135 miles (217 km) from the Yemeni mainland at a depth of six miles (10 km) in the Arabian Sea.
UAE’s Etisalat has reportedly offered a higher price than rival Qatari bidder Ooredoo for Vivendi’s 53 per cent stake in Maroc Telecom.
Impressive figures from BMW, Audi, Volkswagen and Rolls-Royce indicate the region’s economy is purring along nicely.
The world’s second-largest telecom equipment maker also expects Middle East telecom operators to prioritise improving network efficiency.
Ministers in the region are deliberating a 100 per cent increase in duty on tobacco products.