<?xml version="1.0" encoding="iso-8859-1" ?>
<?xml-stylesheet title="XSL_formatting" href="http://memrieconomicblog.org/rss/rssarticles.xsl" type="text/xsl" media="screen"?>
<!--
This is 512 bytes of nonsense, since the Firefox 2 developers, in one of the strangest decisions ever, decided 
they would obsolete XML styles by overriding them without permission.  Furthermore, the developers appear 
to be disinterested in fixing this.  Therefore, we use the unofficial workaround, which includes filling 
up the first 512 bytes of a document so that the sniffer doesn't encounter the RSS tag.  I really enjoy
using Firefox, but this particular behavior really annoys me! Anyway, since I'm almost at 512 characters, I'm 
going to ramble on for another minute in this comment, and then, without further adue, present you with a 
valid XML feed.  
-->
<rss version="2.0" xmlns:his="http://memrieconomicblog.org"  xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:content="http://purl.org/rss/1.0/modules/content/">
<channel>
<title>The Memri Economic Blog</title>
<description>
<![CDATA[Highlights /News of The Day]]>
</description>
<link><![CDATA[http://memrieconomicblog.org/]]></link>
<language>en-us</language>

<item>
<title><![CDATA[Salaries for Professionals in the Middle East]]></title>
<link><![CDATA[/bin/content.cgi?article=277]]></link>
<description>
<![CDATA[ Salary satisfaction has fallen across the Middle East by two percentage points in terms of professionals highly satisfied with their salaries. Matching the regional average, just 5% of residents in the UAE are highly satisfied with their remuneration, according to recent research conducted by the Middle East's number one job site Bayt.com, in conjunction with regional research specialists YouGov Siraj.  The picture around the rest of the Gulf and wider Middle East is similar - with a... - Last Updated:]]> 
<![CDATA[Tue, 09 Mar 2010 20:40:09]]>
</description>
<author></author>
<pubDate><![CDATA[2010-03-09]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=277]]></guid>
</item>

<item>
<title><![CDATA[The Biofuel Era - Not On Horizon - Yet]]></title>
<link><![CDATA[/bin/content.cgi?article=276]]></link>
<description>
<![CDATA[ The world, it is said, belongs to those with the most energy. And the search for alternative energy, for a number of reasons - from political to environmental - continues. The price spike in 2008 gave a fillip to the pursuit.  In his State of the Union address in January 2007, former President Bush emphasized developing biofuels, so as to reduce the American dependence on oil. And then on Jan. 24, while speaking at a DuPont plant, Bush said he was particularly encouraged by the possibility of... - Last Updated:]]> 
<![CDATA[Mon, 08 Mar 2010 20:42:35]]>
</description>
<author>By: Syed Rashid Husein</author>
<pubDate><![CDATA[2010-03-08]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=276]]></guid>
</item>

<item>
<title><![CDATA[Central Banks Should Do More To Regulate Islamic Banks' Work]]></title>
<link><![CDATA[/bin/content.cgi?article=275]]></link>
<description>
<![CDATA[ Bankers on Wednesday urged central banks in Arab and Islamic countries to increase their role in issuing laws and rules to regulate the work of Islamic-based financial institutions.  The recommendations were made at the conclusion of the two-day first Islamic Finance and Investment Forum for the Middle East, which took place in the Dead Sea and brought about over 350 bankers and experts from over 15 countries.  The participants also called for training human resources in the field of Islamic... - Last Updated:]]> 
<![CDATA[Fri, 05 Mar 2010 06:27:47]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-03-05]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=275]]></guid>
</item>

<item>
<title><![CDATA[Bad  News For Bad Checks As Jails Await Defaulters]]></title>
<link><![CDATA[/bin/content.cgi?article=274]]></link>
<description>
<![CDATA[ The Saudi government has introduced new measures that will make bouncing a check punishable by jail in an effort to tackle the growing problem in the Kingdom.  Under the current system, the sluggish litigation process involved in getting offenders to pay up has seen some cases drag on for 15 years.  A weekly Cabinet meeting chaired on Monday and convened by the Ministry of Commerce and Industry, approved the measures, which include prison terms, public defamation in local newspapers, and... - Last Updated:]]> 
<![CDATA[Wed, 03 Mar 2010 19:37:08]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-03-03]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=274]]></guid>
</item>

<item>
<title><![CDATA[Gulf Countries 'Should Abandon Dollar Peg And Float Currencies']]></title>
<link><![CDATA[/bin/content.cgi?article=273]]></link>
<description>
<![CDATA[ Gulf countries should drop their peg to the US dollar to avoid unnecessary risk, John Taylor, chairman of FX Concepts, the world's largest currency hedge fund based in New York, said in Dubai on Monday. "Any fixed exchange rate makes countries vulnerable to activity that has nothing to do with their economy," he said at Hedge Funds World Middle East 2011 conference, referring to fiscal policies in the US.  The dollar until recently was declining due to the country's severe fiscal... - Last Updated:]]> 
<![CDATA[Tue, 02 Mar 2010 18:44:47]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-03-02]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=273]]></guid>
</item>

<item>
<title><![CDATA[Telecom in the Middle East –The Competitive Mandate after the Downturn]]></title>
<link><![CDATA[/bin/content.cgi?article=272]]></link>
<description>
<![CDATA[ In 2010, as the recession begins to lift, telecom operators in the Middle East will face a very different world. They will have to manage a greater variety of new busi­ness models and strategies than ever before, as they balance human and economic capital across geographies in hopes of countering diverse challenges, in both developed and developing markets.  They will face even more competitors and increasing demands from savvier customers. And they will encounter a proliferation of new... - Last Updated:]]> 
<![CDATA[Mon, 01 Mar 2010 14:19:35]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-03-01]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=272]]></guid>
</item>

<item>
<title><![CDATA[Libyan Leader Calls For Jihad Against Switzerland]]></title>
<link><![CDATA[/bin/content.cgi?article=271]]></link>
<description>
<![CDATA[ Libya's leader called for a jihad, or holy war, against Switzerland on Thursday because of its ban on mosque minarets - escalating a long-running diplomatic feud between the two countries.  Moammar Gadhafi also urged Muslims everywhere to boycott Swiss products and to bar Swiss planes and ships from the airports or seaports of Muslim nation." Those who destroy God's mosques deserve to be attacked through jihad, and if Switzerland was on our borders, we would fight it," Gadhafi was... - Last Updated:]]> 
<![CDATA[Fri, 26 Feb 2010 11:17:16]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-02-26]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=271]]></guid>
</item>

<item>
<title><![CDATA[IMF Executive Board Approves US$3.6 Billion Stand-By Arrangement for Iraq]]></title>
<link><![CDATA[/bin/content.cgi?article=270]]></link>
<description>
<![CDATA[ The Executive Board of the International Monetary Fund (IMF) today approved a two-year Stand-By Arrangement for Iraq for an amount equivalent to SDR [Special Drawing Rights] 2.38 billion (about US$3.64 billion) to cover the country's balance of payments needs. The Board's approval makes an amount equivalent to SDR 297.1 million (about US$455 million) immediately available to the Iraqi authorities.  The new arrangement follows a 15-month program supported by a Stand-By Arrangement,... - Last Updated:]]> 
<![CDATA[Thu, 25 Feb 2010 18:17:30]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-02-25]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=270]]></guid>
</item>

<item>
<title><![CDATA[Lebanese Gold Reserves Largest in MENA Region]]></title>
<link><![CDATA[/bin/content.cgi?article=269]]></link>
<description>
<![CDATA[               Lebanon's gold reserve is considered the largest reserve in the Middle East and North Africa (MENA) region and is ranked 15th globally, according to the World Gold Council.  Lebanon's gold reserves totaled $9.2 billion at the end of 2009, ranking it in 15th place globally and in first place among 14 countries in MENA, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.  Lebanon accounted for 1.1 percent of the world's total gold... - Last Updated:]]> 
<![CDATA[Wed, 24 Feb 2010 13:45:05]]>
</description>
<author>By: Mohammad Ghazal</author>
<pubDate><![CDATA[2010-02-24]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=269]]></guid>
</item>

<item>
<title><![CDATA[Australia Awaits Word on Import of Wild Camels]]></title>
<link><![CDATA[/bin/content.cgi?article=268]]></link>
<description>
<![CDATA[ The Australian Ministry of Agriculture, Fisheries and Forestry said it has not received any formal request from Saudi Arabia or other Gulf countries regarding the import of its wild camels. Ministry spokeswoman Sheree Glasson confirmed the news after recent reports that Saudi Arabia and other Gulf states were finding ways to stop Australia culling camels in the country.  In January Arab News reported on some Saudis who initiated an internet campaign calling for the transportation of Australian... - Last Updated:]]> 
<![CDATA[Tue, 23 Feb 2010 14:28:00]]>
</description>
<author>By: Laura Bashraheel</author>
<pubDate><![CDATA[2010-02-23]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=268]]></guid>
</item>

<item>
<title><![CDATA[Tug of War Between Producers and Consumers on the Cards]]></title>
<link><![CDATA[/bin/content.cgi?article=267]]></link>
<description>
<![CDATA[ US Energy Secretary Steven Chu is coming to Riyadh. Interestingly, the visit of the US's top energy diplomat is taking place at a time, when the next OPEC ministerial meeting is only three weeks away. Is it pure coincidence? Analysts are hinting at a different direction.  The OPEC oil ministers are scheduled to meet in Vienna on March 17 to review market conditions and consider whether to change output levels. The visit would provide Secretary Chu, known for advancing the green cause, a rare... - Last Updated:]]> 
<![CDATA[Mon, 22 Feb 2010 21:04:13]]>
</description>
<author>By: Syid Shahid Husain</author>
<pubDate><![CDATA[2010-02-21]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=267]]></guid>
</item>

<item>
<title><![CDATA[The Future of Technology in Saudi Arabia]]></title>
<link><![CDATA[/bin/content.cgi?article=266]]></link>
<description>
<![CDATA[ Much of the eighth plenary session - Science and Technology - at the Jeddah Economic Forum on Tuesday (February 16) consisted of a review of the Kingdom's current position in technological development, and a presentation of the big-picture view of where Saudi Arabia should be in 2020. Adaptive and innovative research and development, global cooperation and cross pollination of ideas together with the difficult issue of ownership of intellectual property all surfaced in the presentations and... - Last Updated:]]> 
<![CDATA[Fri, 19 Feb 2010 12:28:49]]>
</description>
<author>By: Roger Harrison</author>
<pubDate><![CDATA[2010-02-19]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=266]]></guid>
</item>

<item>
<title><![CDATA[Oil Industry Looks to Iraq for Boost]]></title>
<link><![CDATA[/bin/content.cgi?article=265]]></link>
<description>
<![CDATA[ Oil industry leaders believe Iraq's resurgence as a major producer will change the face of the world's energy market, but they warn that the country - and the Middle East generally - still needs to improve infrastructure, security and export paths.  At the annual International Petroleum Week conference in London, energy executives and analysts said Iraq's boost to production will have a profound impact, but were skeptical of the country's target to raise output from the current 2.5 million... - Last Updated:]]> 
<![CDATA[Thu, 18 Feb 2010 13:40:15]]>
</description>
<author>By: Roger Harrison</author>
<pubDate><![CDATA[2010-02-18]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=265]]></guid>
</item>

<item>
<title><![CDATA[Is the End of the Fossil-Fuel Era Really Close?]]></title>
<link><![CDATA[/bin/content.cgi?article=264]]></link>
<description>
<![CDATA[ Global energy dynamics are changing - and changing fast. And these carry tremendous implications for both producers as well as consumers. Over the last few months, the energy world has undergone a complete metamorphosis. Hardly 19 months ago, crude was almost 147 a barrel - and pundits were clamoring that the world was about to enter the phase of supply being less than demand - that Peak Oil had arrived and that crude could even cross the $200 mark.    All this now seems a matter of the... - Last Updated:]]> 
<![CDATA[Wed, 17 Feb 2010 14:04:13]]>
</description>
<author>By: Syed Rashid Husain</author>
<pubDate><![CDATA[2010-02-17]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=264]]></guid>
</item>

<item>
<title><![CDATA[Tough Road Ahead for GCC Economic Integration]]></title>
<link><![CDATA[/bin/content.cgi?article=263]]></link>
<description>
<![CDATA[ The pace of economically integrating the six-nation Gulf Cooperation Council (GCC) has been abysmally slow, ever since the bloc was established in 1981.  This is despite numerous lofty statements made by Gulf leaders and planners about the common challenges that need to be addressed [and] the need for mutual trust and good neighborliness. In fact, the implementation of this rhetoric has been missing among Gulf governments despite a growing realization that joint action was only the way forward... - Last Updated:]]> 
<![CDATA[Tue, 16 Feb 2010 16:06:05]]>
</description>
<author>By: M. Ghazanfar Ali Khan</author>
<pubDate><![CDATA[2010-02-16]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=263]]></guid>
</item>

<item>
<title><![CDATA[Iran Unfazed by Threats of New Energy Sanctions[1]]]></title>
<link><![CDATA[/bin/content.cgi?article=262]]></link>
<description>
<![CDATA[ The U.S. Congress is toughening its stance on Iran's energy industry with new economic penalties, but experts doubt that the regime will pay much attention, and it is more likely to open the doors even wider to other players eager to replace fleeing investors.  Iran is being targeted by two bills: The Senate's Dodd-Shelby Comprehensive Iran Sanctions, Accountability and Divestment Act, passed in late January, and the House's Iran Refined Petroleum Sanctions Act, approved in December. Once... - Last Updated:]]> 
<![CDATA[Tue, 16 Feb 2010 15:34:49]]>
</description>
<author>By: M. Ghazanfar Ali Khan</author>
<pubDate><![CDATA[2010-02-15]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=262]]></guid>
</item>

<item>
<title><![CDATA[The UNDP Arab Knowledge Report 2009 – Review and Analysis]]></title>
<link><![CDATA[/bin/content.cgi?article=254]]></link>
<description>
<![CDATA[ Introduction    "When all have access to the lights of Knowledge, the time of democracy will have come." (Victor Hugo, circa 1840)   "An ignorant people is more tractable than an educated one." (Egyptian ruler Muhammad Sa'id Pasha, circa 1860)   - UNDP Report, p.98    The United Nations Development Programme (UNDP)'s Regional Bureau of Arab States recently published the 2009 Arab Knowledge Report, in collaboration with the Mohammed bin Rashid Al-Maktoum Foundation in... - Last Updated:]]> 
<![CDATA[Tue, 02 Feb 2010 14:47:11]]>
</description>
<author>By: Dr. Nimrod Raphaeli</author>
<pubDate><![CDATA[2010-02-02]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=254]]></guid>
</item>

<item>
<title><![CDATA[Islamic Banking – Reality and Myth]]></title>
<link><![CDATA[/bin/content.cgi?article=256]]></link>
<description>
<![CDATA[ Introduction  Islamic banking is based on Islamic law and principles known as shari'a, a system of rules derived from Islamic principles of jurisprudence and dictated by a sometimes modern and sometimes ancient interpretation of the Quran. It is equivalent to conventional banking, except that the investor is rewarded through a share in profit rather than through the payment of interest or riba (usury), which is prohibited under the shari'a. Islamic banking prohibits investment in, or lending... - Last Updated:]]> 
<![CDATA[Wed, 03 Feb 2010 22:07:50]]>
</description>
<author>By: Dr. Nimrod Raphaeli</author>
<pubDate><![CDATA[2009-10-08]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=256]]></guid>
</item>

<item>
<title><![CDATA[The Oil Sector in Iraq: Prospects and Problems]]></title>
<link><![CDATA[/bin/content.cgi?article=255]]></link>
<description>
<![CDATA[ Introduction  Iraq is acknowledged to have the world's third largest proven petroleum reserves (after Saudi Arabia and Iran) and some of the lowest extraction costs. Although just a fraction of its known fields are in development, much of its oil infrastructure is in poor shape due to years of wars, sanctions, and neglect that characterized much of Saddam Hussein's rule in Iraq. When full explorations finally get under way, Iraq may prove to have far more than the current estimate of 115-120... - Last Updated:]]> 
<![CDATA[Wed, 03 Feb 2010 22:03:04]]>
</description>
<author>By: Dr. Nimrod Raphaeli</author>
<pubDate><![CDATA[2009-06-11]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=255]]></guid>
</item>

<item>
<title><![CDATA[Islamic Finance Panacea for Global Crisis]]></title>
<link><![CDATA[/bin/content.cgi?article=253]]></link>
<description>
<![CDATA[   Umer Chapra  The Islamic finance system, which introduces greater discipline into the economy and links credit expansion to the growth of the real economy, is capable of minimizing the severity and frequency of financial crises, says Umer Chapra, a well-known Saudi economist and winner of the King Faisal International Prize for Islamic Studies.  "Islamic finance can also reduce the problem of subprime borrowers by providing them with loans at affordable terms. This will save billions... - Last Updated:]]> 
<![CDATA[Tue, 28 Oct 2008 10:09:01]]>
</description>
<author>By: Dr. Nimrod Raphaeli</author>
<pubDate><![CDATA[2008-10-28]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=253]]></guid>
</item>

</channel>
</rss>