Business

Yahoo Inc. (YHOO), said on Tuesday it agreed to buy Arabic online portal Maktoob.com as it seeks to add the Middle East to its expanding strategy for the fast-growing emerging markets. “This deal reinforces Yahoo’s commitment to invest in emerging markets,” Keith Nilsson, senior vice president of emerging markets for Yahoo, said at a press … Continued

‘Sama Beirut’ project, in the heart of Lebanon’s capital, constitutes a milestone in 21st Century development, with a skyscraper that will grace the skies of Beirut. Launched under the patronage of Lebanese Minister of Interior, Ziad Baroud, yesterday, the project, rising to 50 stories, will be a landmark in Lebanon, a fully Lebanese investment, from … Continued

In a report by the Hogg Robinson Group, an international corporate travel firm, the capital of the United Arab Emirates (UAE) came in second only to Moscow as the most expensive business destinations in the world. Analyzing hotel rates during the first six months of 2009, the group found significant instability in the hotel market, … Continued

The UAE’s exports remained all time high of more than $231 billion (Dh848.5bn) last year and turn it into the 19th largest exporter in the world. A sharp rise in its imports also pushed the country to the 27th rank in the world’s top importers becoming the only Arab nation to be placed in the … Continued

Bahrain’s National carrier Gulf Air confirmed it will commence services to Baghdad on 1 September 2009. The Airline also announced it will add two additional destinations in Iraq to its network, the holy city of Najaf and Erbil, in Northern Iraq, by the end of September 2009. Flights to Iraq’s capital Baghdad will go on … Continued

Early this year, Tunisian Tourism Minister Khélil Lajimi said that he was optimistic as to the sector’s capacity to weather the consequences of the world economic crisis, despite the “lack of visibility for the year 2009 and late bookings by European travellers.” Mr Lajimi added in addition to the setting up of a monitoring unit … Continued

US home furnishing brand Pottery Barn is to open four stores in Dubai and Kuwait next year after signing an agreement with regional retail giant MH Alshaya. The store is perhaps best known outside North America for its appearance in an episode of US sitcom Friends, where Jennifer Aniston’s character Rachel tries to keep her … Continued

This year is unlikely to bring much cheer to the construction industry in some parts of the Middle East. The spotlight is likely to fall on the region’s fast-growing larger economies, such as Saudi Arabia and also Iraq, where further recovery after the US-led invasion of 2003 continues apace, writes Ian Lewis. In Saudi Arabia, … Continued