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UAE may raise income requirement for bringing families
Workers may need to earn more to bring their families to the UAE, under a new proposal by the UAE's Federal National Council, the state news agency WAM reported yesterday. The council has recommended that expatriates should be able to move their families over only if they earn at least Dhs10,000 ($2,722) a month, rather than the Dhs4,000 now required. Those that have been provided with accommodation should earn at least Dhs8,000 a month, according to the recommendations. The changes are to be submitted to the Council of Ministers for ratification.
United Arab Emirates: Wednesday, December 31 - 2008 at 11:11

GCC to maintain 2010 single currency deadline
The secretary-general of the Gulf Cooperation Council said Gulf Arab states will maintain their 2010 deadline for a single currency, reported AP. 'I think it is within the time which has been allocated .. 2010,' Abdul Rahman Al Attiyah told a news conference in response to a question about a date for a common currency.
Middle East: Wednesday, December 31 - 2008 at 08:39

UAE markets up slightly
The Dubai Financial Market on Tuesday gained 0.36% to close on 1,639. Emirates NBD and Shuaa Capital were the day's big gainers, up 4.68% and 4.40% respectively. In Abu Dhabi, the ADX climbed 1.59% to end the day on 2,355. Property developers RakProperties and Sorouh gained 8.33% and 5.72%, respectively.
United Arab Emirates: Tuesday, December 30 - 2008 at 16:03

Consumer confidence drops in UAE
Consumer confidence is falling in the UAE due to the global financial crisis, according to a new study by Bayt.com in conjunction with research specialists YouGovSiraj. The report said the UAE's Consumer Confidence Index dropped by 3.4 index points for the months of October and November. While not the biggest drop recorded this year, the dip follows from continually waning levels of consumer confidence in the UAE throughout 2008.
United Arab Emirates: Tuesday, December 30 - 2008 at 15:04

GCC needs stability in oil prices
At the opening of the GCC Summit, Sultan Qaboos of Oman called for establishing a mechanism to stabilise oil prices in order to overcome the global financial crisis. He said stability in oil prices was required in order for development to continue in the producing countries.
Middle East: Tuesday, December 30 - 2008 at 11:23

Gulf shares rise
Abu Dhabi's ADX General Index increased 1.6% to 2,318.73, trimming the slump this year to 49%. The Dubai Financial Market General Index added 2.9%. Oman's Muscat Securities Market 30 Index surged 4.4%, bringing the two-day advance to 8.9%. Saudi Arabia's Tadawul All Share Index added 1% and Qatar's DSM 20 Index rose less than 0.1%.
Middle East: Tuesday, December 30 - 2008 at 09:11

UAE markets end higher
The Dubai Financial Market on Monday rose 1.92% to close on 1,617. The day's big gainers were Arabtec and Union Properties, which climbed 14.79% and 14.29%, respectively. In Abu Dhabi, the ADX gained 1.62% to end the day on 2,318.
United Arab Emirates: Monday, December 29 - 2008 at 14:45

Qatar to shine in 2009, says report
In a new report on Qatar's economy, the Saudi American Bank (Samba) said Qatar will likely be the world's fastest growing economy in 2009. This is due to its massive gas exports and overseas investments. The report said Qatar is projected to continue growing at around 10% in real terms in 2009.
Qatar: Monday, December 29 - 2008 at 12:25