Interpreting Middle East Economic News and Analyzing Market Trends

Category: News

Gulf countries to ban visas for gays using medical test to ‘detect’ homosexuality

Dubai Airport Immigration

 

It’s no secret that Gulf countries ban homosexuality and have been known to give jail time for those caught in ‘homosexual’ acts.  Now, however, they are going a step further and will soon ban visas for homosexuals and transgender individuals based on a medical test to ‘detect’ them.  This story will surely go down as one of those ‘what were they thinking?!’ stories.

 

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First Gulf Bank to layoff 10% of workforce, a sign that banks are still struggling in the UAE

First Gulf Bank

The UAE’s third largest bank is cutting its workforce by 10% or 300 people.  The bank has been struggling to regain its footing in the market since it fell hard during the financial crisis.  The move now is a clear sign that the banking sector has yet to recover to where it was before 2008, unlike other sectors of the economy, most notably real estate and tourism.

 

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Salaries in Qatar rise 20% in 15 months

Qatar is Booming

The good times continue in Qatar as average salaries increase by 20% over the past 15 months.  Unemployment among Qataris is extremely low and a vast majority of them, who make up only 10% of the workforce, prefer working for the government.

 

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Who was behind the recent chemical attack in Syria? Did the US play a role?

Syria Chems Capabilities

Source: The Independent

Who was behind the worst chemical attack the world has seen in decades? We may never know.  Both the rebels and the Syrian regime are pointing their fingers at each other.  There is also finger pointing outside Syria.  Russia is blaming the rebels and the US is blaming Assad.  There is more to this story than what is currently being fed to us.

 

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Egyptian military kills protesters claiming they are terrorists while the US mulls cutting off aid, AIPAC does not support the move

Mideast Egypt

Image from the Huffington Post

With so much happening in Egypt, it’s tough to keep up.  Here are some of the highlights:

  

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