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China to allow renminbi trade payments

Beijing moves towards reducing reliance on the US dollar with new rules that will enable importers and exporters to settle their payments to select Chinese companies in renminbi

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Stocks slump on jobs data

Equities suffered from low volume and poor economic news on the last trading session before the 4th of July celebration. Rumors of a possible North Korean attack on Hawaii, although not necessarily credible, also worked against the markets. Our prediction that traders would disappear shortly after the release of non-farm payroll numbers seemed to be relatively accurate. Volume was at a bare minimu

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Saudi SEC Plans $28B For More Power In 3 Years

Saudi Electricity Company (SEC) plans to spend $28 billion (SR105 billion) in the next three years to meet rising demand in the Arab world's largest economy.

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U.S. Forex Market Commentary

EURO The euro moved sharply lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3990 level and was capped around the $1.4155 level.  The common currency gaved back most of yesterday’s gains ahead of the long holiday weekend in the U.S.  As expected, the European Central Bank kept monetary policy unchanged and ECB President Trichet reported interes

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NZDUSD ST Channel Break and RSI Signal

The NZDUSD has broken below a short term channel. This is a good sign for breakout traders but a break of .6150 is required in order to break the month...

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EADS Wins Saudi Border Security Deal

European aerospace and defence contractor EADS has signed a long-awaited contract with Saudi Arabia to build a high-tech border security fence, sources close to the company said on Wednesday.

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Kuwait MPs Pass Budget With $13.8 Billion Deficit

Kuwait's parliament approved the 2009/2010 state budget which projects a sharp drop in revenues and spending due to lower oil prices and a four-billion-dinar (13.8-billion-dollar) deficit.

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June Labor Market Report – Details Less Bearish than Headlines

June Labor Market Report – Details Less Bearish than Headlines Civilian Unemployment Rate: 9.5% in June vs. 9.4% in May, cycle low is 4.4% in March 2007. Payroll Employment: -467,000 in June vs. -322,000 in May, net upward revision of 8,000 new jobs after revisions of payroll estimates for April and May. Hourly earnings: $18.53, unchanged, 2.7% yoy change vs. 3.0% yoy change in May, cycle high i

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Salary Norm For Family Visas To Be Revised In UAE

Expatriate residents who want to bring their families into the country should now earn a minimum monthly salary of Dh10,000 and provide their family with independent accommodation, a senior official has said.

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Dubai Office Leasing Mkt Favours Tenants In Past 6 Mos

The office leasing market has shifted in the tenants' favour over the past six months, a meeting organised by the Dubai Chamber of Commerce and Industry was told.

0 Comments - More Info - Bury   Topic: Middle East