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Gulf Salaries Rise By 11.4% - Study

Private sector salaries in the Gulf region increased at an average rate of 11.4% over the last year, according to figures released today by GulfTalent.com, the Middle East’s leading online recruitment firm. In its fourth annual survey of salary trends in the region entitled “Gulf Compensation Trends 2008”, GulfTalent.com revealed the following increases in basic salary by country, over the twelve-month period to August 2008:
The UAE and Qatar topped the list of pay rises with increases...

Financial Turmoil Underscores Need For More Global Cooperation And Regulation

William R. Rhodes, Senior Vice-Chairman, Citigroup

The unfolding financial crisis, the worst since the Great Depression, is now affecting the real economy, with lending at a trickle, unemployment rising and retail sales falling, William R. Rhodes, Senior Vice-Chairman, Citigroup; Chairman, President and Chief Executive Officer, Citibank NA, Citi, USA, warned participants in a session on the risks to global growth at the World Economic Forum’s Annual Meeting of the New Champions 2008. “Decoupling is not a reality. What is happening in the markets in the US is affecting the credit markets worldwide. We are in a crisis of confidence. There...

DIFC”s 1st Report On GCC Monetary Union

The Dubai International Financial Centre (DIFC) last month released a report assessing the progress being made by GCC countries to achieve the convergence criteria for a GCC Monetary Union (GMU) that were endorsed by the Supreme Council of the GCC at its 27th session held in Riyadh in 2006. The report is the first in a series of reports to be released by the Centre focussing on issues affecting the region’s economy.

The report, “An Assessment of the Progress towards GCC Monetary Union”, states that GCC countries remain on schedule to meet the imposed requirements by 2010, but...

Dubai To Host 700 Of The World’s Most Influential Leaders From Academia, Business, Government And Society At First World Economic Forum Summit On The Global Agenda

Geneva, Switzerland, 7 October 2008 – The World Economic Forum, in partnership with the Government of Dubai, will hold its inaugural Summit on the Global Agenda in Dubai from 7 to 9 November 2008. The Summit is a new, unique gathering of the world’s 700 most innovative and relevant minds – leaders from academia, business, government and society. In Dubai, Members of the Forum’s Network of Global Agenda Councils will share ideas and collaboratively address some of the most pressing issues on the global agenda.

During the three-day Summit, the 700 participants of this...