Business & Management

IMF says Gulf economies will recover soonest

THE GULF ECONOMIES are poised to recover faster than many of their global counterparts from the financial crisis. However, they should be vigilant against potential asset bubbles in the future, said Masoud Ahmad, Director of the Middle East and Central Asia Department of the International Monetary Fund.

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Kuwaiti doubts

KUWAIT WANTS THE start date of a currency union it agreed to with three other Gulf states delayed beyond January. The official Kuwait News Agency quotes a statement by the Ministry of Finance as saying Sunday the project should be delayed until its "technical" studies are completed.

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Bahrain - ‘an attractive place to do business’

A REPORT PUBLISHED by the World Economic Forum (WEF) concluded that Bahrain has the fourth most favourable tax regime in the world, out of the 55 leading economies surveyed. The Financial Development Report ranked Bahrain 27th, overall, in terms of its financial system, up from 28th in 2008. It concluded that Bahrain “shows competitive advantages in the quality of its institutional environment, including a substantially liberalized financial sector and solid corporate governance.”

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Labour policy reforms sought

Labour policy reforms sought

MANPOWER, A GLOBAL leader in employment services, has released an insight paper highlighting the need for reforms in labour policies and practices throughout the world, particularly those involving female work participation. Titled “The Underworked Solution: Women and the Talent Crunch,” the Manpower study affirms that the rate of female participation in the labour force is significantly lower than that of men, not only in the Middle East but throughout the world.

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Sharp decline in air travel expected

Sharp decline in air travel expected

A RESEARCH TOOL which tracks travel trends quarterly has revealed that a sharp decline in air travel is expected, with many passengers switching to economy class. YouGovSiraj’s Travel Tracker result of answers from 844 travellers from the UAE who responded to the survey during January 2009. The amount of people flying from the UAE remained stable in 2008 compared to 2007 but this fell far short of the expected rise in travel.

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