The global economic crisis has further widened the competitiveness gap between the countries of the Gulf Cooperation Council (GCC) and the rest of the Arab world region, according to the Arab World Competitiveness Review 2010.
The large influx of investments made by small and medium enterprises (SMEs) in newer and more sophisticated technologies has contributed significantly to the expansion of the UAE ICT sector (Information and Communications Technology), according to Allied Telesis, a global provider of secure IP / Ethernet switching solutions and an industry leader in the deployment of converged multi-play networks.
Saudi Arabia is expected to overshoot public spending by as much as 20 per cent as part of an ongoing expansionary fiscal policy funded by strong oil prices and aimed at cementing the domestic economy.
Swiss structured cabling specialist, Reichle & De-Massari (R&M), has announced its most recent financial performance figures for 2010, where the Middle East and Africa emerged as its most successful regions. Despite the uncertain economic climate, R&M recorded an impressive 16 per cent growth rate for the first half of the year and was able to extend its regional market leadership in the passive cabling domain.
Turkey has offered US$247 million in loans to Syria to fund infrastructure projects, the Syrian finance minister has announced.
