SAUDI ARABIA. A correction in the stock market failed to have a major impact on Saudi Arabia's economic performance last year. A report by the Kuwait-based Global Investment House (Global) on Saudi Arabia's economic and strategic outlook, said that the Kingdom's economy was in fact exceptionally sound and robust in 2006.
UAE. MENA accounts for 6% of global smartphone shipments but less than 0.1% of mobile advertising; Regional companies are behind global trends allocating only 6%-7% of advertising on digital; Only 2%-3% of digital budget is allocated to mobile and tablet advertising.
UAE. Dubai and Qatar deserve to be upgraded T. Rowe Price Group said, after the emirates failed to satisfy the index provider's requirements for four years.
INTERNATIONAL. The luxury department store chain hired Goldman Sachs to explore strategic alternatives, including a possible sale, according to a source briefed on the matter.