#World

Global downturn risks becoming prolonged recession – WEF

High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic

How should regional businesses effectively navigate their workforce through the Covid-19 pandemic

What companies need to focus on now is keeping their employees safe, well-informed, and positive

Warmest oceans on record add to hurricanes, wildfires risks

Worldwide, sea temperatures were 1.49 degrees Fahrenheit above average in March which is the second highest level recorded since 1880 for the month of March, according to US data

Is coronavirus the newest threat to cybersecurity in the GCC?

The Covid-19 disease has not only become one of the most discussed subjects around the world in recent weeks, it is a topic that has seen exponential growth online too

Syrian Defence Minister Killed

Daoud Rajha was reportedly killed in a bomb explosion during a meeting with ministry and security officials.

Twitter Has 2m Arab Users

Facebook has 45.2 million users in the region while four million Arabs use LinkedIn, says new report.

Citigroup Q2 Profit Drops 12%

The US-based bank saw overall net income fall to $2.94 billion in the second quarter of the year.

IMF Cuts Global Growth Forecast

The Eurozone debt crisis is slowing down economies across the world, said the International Monetary Fund.

UAE Ships First Oil Via Fujairah

The UAE aims to increase exports from the new oil terminal as threats to close the Strait of Hormuz rise.

FDI Inflows To GCC Fall 35%

Foreign direct investments into the Middle East dropped 16 per cent to $49 billion in 2011, says UN report.

Saudi To Lend Tunisia $220m

The loans, extended by the Saudi Fund for Development, are repayable over 20 years at two per cent interest.

IBM To Expand In The ME

The global technology firm plans to increase regional hiring and open more offices in a major expansion drive.

Gulf Deposits In Jersey Hit $33bn

The Gulf States account for 14 per cent of the total deposits in the island, according to official data.

Hilton To Open New Hotels In Egypt

The international hotel operator plans to open one hotel in Cairo and a resort in Alexandria.

Qatar Plans New Harrods Hotels

Qatar Holding is planning to open Harrods branded hotels in Malaysia, Paris and New York.

DP World sells Adelaide Port

The Dubai-based port operator sold its 60 per cent stake to Australian firm Flinders.

Job Unhappiness Causes Absenteeism

Most employees in the MENA region miss work because of low satisfaction and lack of responsibility, says survey.

Indian Remittance Tax Unclear

UAE exchanges say there is still no clarity regarding the Indian government’s proposed service tax on remittances.

Dubai Property Market Most Open

The UAE city is ranked as having the most transparent real estate market in the MENA region.

Abu Dhabi Crown Prince Meets Obama

The crown prince and the US president discussed regional issues and global energy prices during the meet.

Flydubai Launches Basra Route

Flights to Basra, the low-cost airline’s fifth destination in Iraq, are scheduled to start next month.

Arabtec Group Wins $2.9bn Deal

The Arabtec consortium, that includes Greek and Turkish firms, will build a terminal at the Abu Dhabi airport.

Tycoon Nears Deal for Drydocks’ Stake

A firm linked to billionaire Robert Kuok is set to take a stake in Drydock’s Southeast Asia operations, say sources.

Brent Dips Below $93

Key concerns about the European debt crisis offset worries about tighter North Sea supplies.

Top 10 Global Spenders In UAE

Visitors from the UK topped the list, spending almost $500 million in 2011, according to Visa.

MENA Women Eye Top Wages

A good salary is the main priority for 59 per cent of women looking for jobs in the MENA region, says survey.

Zawya Sold To Reuters

Global news agency Thomson Reuters buys MENA-based online platform Zawya for an undisclosed amount.

Morsy Declared Egypt’s President

The Muslim Brotherhood’s Mohamed Morsy has promised a moderate, modern Islamist agenda for Egypt.

Qatar Buys French Luxury Hotels

Qatar plans to buy four hotels from Starwood for around $940 million, according to French media reports.

Egypt Braces For New President

While official election results will be announced today, the Brotherhood’s Morsy is expected to win.