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UAE eases job shift for expat workers
In an effort to ease changing of jobs by expatriate workers, the UAE has ruled that employees, who had completed three years in a company, no longer need a No Objection Certificate(NOC) from their employer if they a want to shift their job, reported The Times of India. UAE Labour Minister Ali Bin Abdullah Ka'abi said any person who has been with the same sponsor for more than three years does not need an NOC for shifting of jobs. However, no ministerial decision has yet been issued in this regard, although, the practice has been applied at the Ministry of Labour for the past four months.
United Arab Emirates: Saturday, January 12 - 2008 at 10:46 |

Gold hits $876
Gold hit a record high above $876 per ounce on Tuesday, prompted by investor confidence, a weak dollar, and high oil prices, reported Reuters. Spot gold surged to $876.40 an ounce, surpassing the historic high of $869.05 hit last week.
Wednesday, January 09 - 2008 at 09:18

Kuwait's shares offer GCC's best value
HSBC Holding has said Kuwaiti shares offer the best value in the GCC after the emirate's parliament recently eliminated a 55% capital gains tax on equity investments, reported Bloomberg. Kuwait's parliament also reduced the corporate tax rate levied on foreign companies' profits to 15% from 55%. Kuwait's equity benchmark rose 25% last year, underperforming those of its Gulf neighbors.
Kuwait: Wednesday, January 09 - 2008 at 06:52 |

New pay scale for Sri Lankan maids
The new pay scale for Sri Lankan maids has come into effect, said a senior Sri Lankan mission official, reported Reuters. Under the new pay scale it’s mandatory for a Sri Lankan housemaid to be paid Dh825 a month. Previously they were paid Dh600. There are about 175,000 Sri Lankans in the UAE of which an estimated 55 per cent are employed as housemaids. Of about 1.5 million Sri Lankans working overseas, a million are women.
Monday, January 07 - 2008 at 09:32 |

Finance House offers 5% cash back
Finance House has elevated credit card rewards programs in the UAE to unprecedented highs, with the launch of a 5% guaranteed cash back offer on its full range of Standard, Gold & Platinum MasterCard credit cards. Under this new reward scheme, successful credit card applicants can enjoy 5% guaranteed cash back on all their purchase transactions during the first 90 days of obtaining the Finance House Credit Card, followed by a 1.50% guaranteed cash back on all their purchase transactions thereafter.
United Arab Emirates: Sunday, January 06 - 2008 at 13:33 |

New credit card offers 4% cash back
Dubai First, the first consumer finance company from Dubai Group, has unveiled its new Dubai First MasterCard which it claims will include the highest cash back offer in the Middle East. The credit card, offered in both Classic and Gold, will provide up to 4% cash back to each cardholder's account on every purchase at all merchant locations in the UAE and abroad. The cash back offering will be a permanent feature of the card programme with no time bound and merchant restrictions.
United Arab Emirates: Sunday, January 06 - 2008 at 07:35

Pakistan crisis lifts gold
Gold rose above $843 an ounce in early London trading due to concerns over the ongoing political crisis in Pakistan and the continued weakness of the dollar, reported the AFP. The yellow metal was in sight of its $850 all-time high set in 1980 but slipped back to $840.8. Gold hit a 27 year peak of $845.8 an ounce on November 7 and this too could be breached.
UK: Monday, December 31 - 2007 at 15:57

Qatari banks into Kuwait
The Qatar National Bank (QNB) has started banking operations at its first branch in Kuwait. The QNB received its licence back in September and the opening follows that in Oman earlier this week. Meanwhile, according to The Peninsula, Qatar’s Doha Bank is also planning to open an office in Kuwait and has received regulatory approval.
Qatar: Monday, December 31 - 2007 at 08:57