Mena News

 

  World Bank drops growth forecast for developing East Asia
Apr , 08 , 2014  
  World Bank lowered its GDP forecast for developing countries in East Asia to 7.1% from the earlier estimate of 7.2% in 2014.
 

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  Property transaction increases in Qatar
Apr , 08 , 2014  
  According to The Peninsula, Qatar's property transaction value jumped 35.2% to QAR11.9bn (USD3.1bn) in 1Q14 compared to QAR8.8bn during the year-ago period. The countryís new budget proposal projects QAR87.5bn spending in infrastructure, which would boost the real estate sector.
 

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  UAE property prices rise in 1Q14
Apr , 08 , 2014  
  According to Tasweek Real Estate Development and Marketing, the average selling and lease price of real estate units in the UAE increased between 10% and 15% during 1Q14 due to the continuous delivery of new units into the market as well as significant price rise post Dubaiís successful winning of the Expo 2020 bid.
 

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  Dubai's Deyaar approves 25% foreign ownership
Apr , 06 , 2014  
  Shareholders of Dubai property developer Deyaar have approved a plan to allocate 25 percent of its share capital to foreigners.
 

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  UAE to spend huge on infrastructure development
Apr , 06 , 2014  
  According to a report by HVS, a hospitality consultancy, the UAE is expected to spend over USD300bn by 2030 on infrastructure development as the construction sector is recovering after the economic downturn in 2008.
 

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  Saudi business activity remains at five-month low
Apr , 06 , 2014  
  Growth in Saudi Arabiaís non-oil business activity slowed to a five-month low in March, as expansion of new orders and output weakened and employment fell slightly after 29 consecutive months of growth. The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index slipped to 57.0 points in March from 58.6 points in February.
 

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  Gold falls on better US manufacturing data
Apr , 02 , 2014  
  Gold prices slid Tuesday (seven-week low) due to better US manufacturing data. Prices declined 0.4% to USD1,279 an ounce on the NYMEX.
 

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  Unemployment in Eurozone stays high
Apr , 02 , 2014  
  The unemployment rate in the Eurozone stayed high at 11.9% in February, same as the revised rate in January, but marginally lower than the expectation of 12.0%.
 

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  US construction spending rises in February
Apr , 02 , 2014  
  US construction spending rose 0.1% MoM to a seasonally adjusted annual rate of USD945.7bn in February (in line with expectation) after falling a revised 0.2% MoM to USD944.6bn in January.
 

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  Middle East IT spending to total USD211bn
Apr , 02 , 2014  
  According to the latest forecast by Gartner Inc., IT spending in the Middle East would reach USD211bn in 2014, up 8% YoY. Spending is projected to rise to USD243bn by 2018, representing 5.6% of the global IT spending.
 

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