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Middle East businesses unethical say employees
A poll run by jobs website Bayt.com claims that the ethics and professionalism levels in the Middle East workplace are questionable. The poll found that 45% of respondents believed their company did not conduct business in an ethical manner, while 52% thought that it did. Fifty-one per cent said that their company always conducted business in a professional manner, with 49% saying that the company they worked for was not professional. The poll was conducted among 8,593 people from across the Middle East.
Middle East: Tuesday, October 07 - 2008 at 12:50

Kuwait moots visa transfer ban
Kuwait is considering banning the transfer of worker's visit visas into work permits for holders of Iraqi, Iranian and Syrian passports. The move, reported in the Kuwait Times, is being considered after a rise in applications from these countries. The ban would be enforced over a period of three years.
Kuwait: Tuesday, October 07 - 2008 at 10:58

Global stocks plunge
Fears that the credit crisis will not be contained sparked panic selling across Global stock markets tumbled on Monday amidst fears that the credit crisis cannot be contained. European shares posted their worst day on record and the Dow slipped below 10,000 points for the first time since October 2004. In Europe, the pan-European FTSEurofirst 300 index fell 7.75% to close at 1,004.90 points, its biggest percentage fall ever and eclipsing the 6.3% fall suffered on September 11, 2001, during the US terrorist attacks. In the US, the Dow Jones industrial average closed down 369.88 points, or 3.58%, at 9,955.50. At one point, the Dow was down as many as 800 points following large declines on global stock markets.
Tuesday, October 07 - 2008 at 08:39

UAE stocks tumble
The Dubai Financial Market on Monday plunged 292.48 points, or 7.61%, to close on 3,551. Among the stocks that were hardest hit were Emaar, down by 10.74%, Arabtec by 14.95%, Union Properties by 11.47%, and Tamweel by 10.51%. The Abu Dhabi Securities Exchange also tumbled today, down 211.66 points, or 5.61%, to close on 3,558.
United Arab Emirates: Monday, October 06 - 2008 at 14:25

US asks Kuwait for bailout help
The US government has asked Kuwait to contribute to a $700bn US government financial rescue plan in the form of purchasing U.S. Treasury bonds, reported Al-Qabas, citing unidentified bankers. The report said Kuwait is among other oil-rich Gulf countries asked to help finance the bailout plan.
Kuwait: Monday, October 06 - 2008 at 13:52

Asia and Europe markets fall
Stock markets in Europe and Asia were sharply lower on Monday as traders focus on Europe's growing financial crisis, reported CNN. The most influential European markets - London's FTSE 100, the CAC 40 in Paris and the XETRA DAX in Frankfurt - were off about 2 to 5 percent in the first few hours of the trading day. Japan's Nikkei Exchange closed down 465.05 points, or 4.25%, at 10,473.09 on Monday, extending Friday's three-year low. The Korea Exchange in Seoul, South Korea finished the day off 4.3%. The Australian Securities Exchange plunged about 3.4% to 4,544.70, and Hong Kong's Hang Seng was off 4.7% of its value, falling to 16,853.85.
Monday, October 06 - 2008 at 13:24

Doha call for compulsory Zakat
An official at the Zakat Fund in Qatar has called for the creation of a panel to draft a law making zakat charity donations mandatory for publicly listed companies. The call comes after only 10% of the potential levy of QR1.2bn from companies listed on the DSM was collected in 2007.
Qatar: Monday, October 06 - 2008 at 11:29

Economy, jobs are top priority for Jordan
Jordan's King Abdullah said kingdom's economy and job creation are top priorities for the country, reported Bloomberg. In a speech inaugurating the second session of the country's 15th parliament today, the monarch said 'the economy still tops our priorities, especially its social dimension, due to the economic challenges that resulted from international rising prices'. The king said the government needs to link salaries to inflation and ordered it to raise salaries starting next year. He also said the minimum wage will be raised.
Jordan: Monday, October 06 - 2008 at 09:24