Posts Tagged ‘Gulf JEDDAH’
JEDDAH – The number of overnight stays by GCC nationals in Germany increased by 16.4 percent during the first five months of 2010. During this time 243,759 overnight stays were recorded. Compared to the same period of 2008, that is before the economic downturn, the number of overnight stays by GCC travelers in Germany recorded a 30,3 percent increase, from 187,004 to 243,759.
With the central European country as popular as ever with tourists from the Gulf region, Germany is gearing up to welcome Arab guests who will be visiting the country during Eid Al Fitr holiday. As Germany is home to a large Muslim population, it offers tailor-made holiday packages that are suitable for every taste. Visitors are guaranteed to enjoy a memorable holiday experience during “Eid Al Fitr”.
JEDDAH – The growing economic might of the Gulf Cooperation Council (GCC) countries was again highlighted in the recently held financial summit between the City of London and the GCC countries.
The meeting held at the Merchant Taylors Hall in London on 19 July discussed the latest financial sector developments in the Middle East and North Africa, and opportunities for UK/GCC partnerships.
Organized by the Middle East Association (MEA) in partnership with the City of London Corporation, the conference, now in its fifth year, is the leading London event promoting cooperation between the City of London and the GCC countries.
JEDDAH – Saudi Arabia has the highest level of investor confidence in the region, according to latest survey of HSBC Holdings Plc.
Saudi Arabia scored 97, the highest level since 2007, while the United Arab Emirates index is 78.4, the HSBC GCC Business Confidence Survey said on Monday. The overall index climbed by more than 15 points to 86 from the first quarter of 2009, HSBC said.
“These results show a mood of realistic optimism in the GCC,” Simon Vaughan Johnson, regional head of Commercial Banking Middle East North Africa said in the statement.
JEDDAH – Assets of exchange traded products (ETPs) surpassed $1,000 billion near the end of 2009, up a staggering 45 percent year over year.
After a drop in 2008, asset growth for ETFs and other exchange traded products (ETPs) has resumed, and assets of all ETPs globally exceeded the $1,000 billion milestone in 2009. There are now more than 2,600 ETPs, with some 4,800 listings on more than 40 exchanges from about 140 providers, and hundreds are currently in the planning stage. Moreover, ETPs now account for approximately 30 percent of the average daily volumes in US listed equities, and approximately 10 percent of European average daily volumes. ETP providers continue to launch products with new asset classes and market exposures, many of which are only tradable off exchange.
Given the vast jungle of ETPs listed around the world, even professional investors are finding it difficult to distinguish between the various index-tracking products – all of which trade like single stocks on recognized exchange. At a very high level, it is important for investors to appreciate that there are basic structural differences between the various categories of exchange traded products. Some of the confusion, no-doubt, comes from various category acronyms that have developed among the product providers and market makers. Some would say its a nightmare of acronyms – I would agree and have tried to provide an overview of the basics that have helped me distinguish the evolving ETP jungle.
JEDDAH – The UAE is the top country in the Middle East for using technology to create a better economic and social environment, according to a new report published by the World Economic Forum.
The Global Information Technology Report 2009-2010 ranks the UAE as the 23rd best country out of 133 survey on how it uses information technology to create a “more economically, environmentally and socially sustainable world in the aftermath of one of the most serious economic crises in decades”.
Globally, Sweden came out on top, followed by Singapore and Denmark.
JEDDAH – Switzerlands popular tourist attractions and destinations were again in the spotlight recently in Saudi Arabia as Switzerland Tourism Board made a promotional tour in the Kingdom.
The partners of the Switzerland Tourism Board look at the importance of the Gulf market. Those partners continually seek to offer renovated tourism packages that aspire to further encourage the Gulf tourism market. Several tourism alternatives had been credited during the past years with special focus on family offers, free ticket by train, including children until age 16, and free public transport pass within a particular destination.
The Board concentrates largely on the family tourism programs which are available at tourism agencies in the Kingdom.
JEDDAH – A researcher has warned against the “dreadful” spread of diabetes in the GCC states if countries fail to take immediate preventive measures.
According to Dr. Abdurrahman Al-Kuwari, head of the Gulf Group for the Study of Diabetes (GGSD), the GCC countries should urgently develop all the necessary programs and plans to impede what he called the “fastest spreading disease” in the region.
He pointed out that five GCC states are listed among the top ten countries in the world with the highest rate of diabetes.
JEDDAH – Gulf markets rebounded on Monday after a steady opening in Asia soothed nerves, with most Gulf indexes clawing back after a sell-off in the previous day inspired by Obamas bank plan.
In Saudi Arabia, chemical company Saudi Basic Industries Corp (Sabic) rose 0.6 percent, lifting the regions index.
“Oil has made quite a significant move downwards without much support – if it gets closer to $70, there will be an effect on the (Saudi) market because everything always comes back to petrochemicals,” said a Riyadh-based analyst who asked not to be identified.
JEDDAH – Exchange traded funds (ETFs) are gradually drawing the interest in the Gulf countries, albeit relatively new in the region. Generally, professional investors (wealth advisors) view ETFs as liquid, transparent and low cost investment tools that help construct portfolios.
Yet, many people do not know what an ETF actually is, let alone how it is used, said Barclays Global Investors – one of the worlds largest asset managers and a leading global provider of investment management products and services.
JEDDAH – Forty-five percent of projects planned in the Gulf, which have a total value of $930 billion, are currently under construction in the UAE, according to recently published reports, thereby asserting the countrys leading position in terms of developments and project activity in the region.
Forming part of the massive bulk of construction projects in the UAE is the AED 1.34 billion project portfolio of Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies.