Monday 8 February 2016

UAE e-commerce to quadruple to $10bn by 2018

GCC banks are aiming to expand digital and mobile customer offerings, even as the UAE’s e-commerce market is set to quadruple to $10 billion by 2018, according to Bank Audi.   Eighty-one per cent of UAE customers would switch banks for a better digital experience, and 6


Wars, cheap oil hurting Middle East growth

The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 per cent, falling short of a 2.8 per cent forecast in October as war, terrorism and cheap oil took their toll.   In a new report, the bank said five years o


Airline battle brews in Gulf as Iran eyes regional hub role

An economic battle is likely for dominance of the skies over the Gulf after Iran decided to invest $27 billion in an airline fleet capable of taking on the region's supercarriers. By ordering dozens of long-distance European jets last month after the lifting of sanctions, Iran is p


Why the Zika virus is causing alarm

Global health officials have said that the Zika virus, which has been linked to severe birth defects in thousands of babies in Brazil, is rapidly spreading in the Americas and could infect up to 4 million people. The race is on to develop a Zika vaccine. Here are some questions a


Private businesses start 2016 on weak footing

The private sector began 2016 on a slightly weak note around the world, and with scant signs of inflation picking up, pressure will remain on central banks to keep or even ease their already ultra-loose monetary policies, surveys showed on Wednesday. While euro zone businesses st


No peak oil demand until 2040: BoAML report

A peak in global oil demand is unlikely to occur before 2040 in a sub-$70 oil world, according to a research report from Bank of America Merrill Lynch (BoAML). Over the medium-term, low oil prices will influence the trajectory of demand growth in three key ways, the report entitl


A new global oil deal could draw lessons from 1998

After a year of secret diplomacy and hushed-up private talks around the world, Opec's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-Opec Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. It was 1998, trust had lon


The economics behind cyber attacks

A new analysis provides insight into topics like the average earnings of a cyber attacker, the amount of time attacks typically take, and how to prevent successful data breaches by increasing the cost of conducting them. Adversaries share their own insights on when attacks become


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