By P.K. ABDUL GHAFOUR | ARAB NEWS Published: Oct 20, 2011 22:51 Updated: Oct 20, 2011 22:51 JEDDAH: Nearly three million expatriate workers will have to leave the Kingdom in the next few years as the Labor Ministry has put a 20 percent ceiling on the country’s guest workers. The […]
Source: The Globe and Mail Author: Zhou Xin Afghanistan is in desperate need of investment to invigorate its tiny, fragile economy, but on top of the grave physical dangers of the decade-old war, businesses are put off by corruption, pitiful infrastructure, and a slothful bureaucracy. Even after the billions of […]
PARIS — The euro was a political project meant to unite Europe after the Soviet collapse in a sphere of collective prosperity that would lead to greater federalism. Instead, the euro seems to be pulling Europe apart. As European leaders scramble to present a united front for this weekend’s critical […]
Source: Wall Street Journal By NICK TIMIRAOS The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S. The provision is […]
Builders began work on more U.S. homes than forecast in September on rising demand for apartments and condominiums as more Americans become renters. Housing starts climbed 15 percent to 658,000 houses at an annual rate, the most since April 2010, Commerce Department figures showed today in Washington. The median forecast […]
BEIJING – China may see its first annual trade deficit for two decades next year, Wei Jianguo, former vice-minister of commerce, said. September and October are traditionally the peak time for contracts ahead of the festive season in Europe and the United States but demand is sharply down this year, […]
With a big push from a one-time accounting gain, Citigroup on Monday squeezed out its seventh-straight quarterly profit, but it faces significant challenges to growth. Citigroup announced a third-quarter profit of $3.8 billion, or $1.23 a share, beating analyst consensus estimates of 81 cents a share. That represented a 74 […]
As politicians and diplomats strive for a return to normality in Libya, potential avenues for Swiss business are being sketched out. However, there is still a lot of work to be done before business with Libya can go back to how it was under Moammar Gaddafi’s rule or even expand. […]
NEW YORK (CNNMoney) — Finance ministers from the world’s largest economies pledged Saturday to take “all necessary actions” to stabilize global financial markets and ensure that banks are well capitalized. “We will ensure that banks are adequately capitalized and have sufficient access to funding to deal with the current crisis,” […]
The Jordanian government decided to send a large delegation of officials and business leaders to Libya to offer support for its reconstruction, a move that is necessary, even if it came a bit late in the hour.The minister of industry and trade will head the delegation – hefty from the […]
Publicly, bankers say they understand the anger at Wall Street — but believe they are misunderstood by the protesters camped on their doorstep. But when they speak privately, it is often a different story. “Most people view it as a ragtag group looking for sex, drugs and rock ’n’ roll,” […]
Failure is not a bad thing. Sure, losing or failing doesn’t give you the warm fuzzies inside, but failing and adapting ultimately sets you up for greater success. In a 2008 commencement address to Harvard, author J.K. Rowling, who made a billion dollars for her Harry Potter series, adroitly summed […]
Source / Courtesy: Yahoo — I have changed the title Focusing too heavily on the “for richer” part of the nuptial vows could spell disaster for a marriage, according to research published today by Brigham Young University. In a survey of 1,700 married couples, researchers found that couples in which […]
week of unemployment benefits dipped slightly but remained over 400,000, according to a government report. There were 404,000 initial unemployment claims filed in the week ended Oct. 8, the Labor Department said Thursday, down 1,000 from the prior week’s revised 405,000. Read more
NEW YORK (CNNMoney) — The city council of Harrisburg, Pennsylvania, voted to file for bankruptcy protection Tuesday night. The state capital of Pennsylvania, with just under 50,000 residents, was facing a possible takeover of its operations by the state government under a receivership. It had been designated as “financially distressed” […]
BRUSSELS — A comprehensive plan to strengthen banks in the European Union was to be unveiled Wednesday, as the bloc sought to give new momentum to its efforts to calm the continuing debt crisis. Under the proposals, to be outlined by the Union’s executive, the European Commission, banks would have […]
NEW YORK (CNNMoney) — Millions of unemployed Americans are waiting for Congress to do something other than trade barbs over their job creation plans. If lawmakers don’t act soon, the jobless see their unemployment checks start to disappear come January. More than 6 million Americans are set to lose federal […]
By BADEA ABU AL-NAJA | ARAB NEWS MAKKAH: With only three weeks before the Haj starts, a number of Haj missions have failed to secure suitable accommodation for their pilgrims in Makkah, sources involved in providing pilgrimage services said on Monday. They claimed some missions were trying to control the […]
By P.K. ABDUL GHAFOUR | ARAB NEWS JEDDAH: The Council of Ministers on Monday took a landmark decision to implement a land bridge project that would link the Kingdom’s east with its west with a railway line, bringing about a dramatic change in the region’s transport system. The project, which […]