'Get rid of dollar peg now' - Economist
London-based Economist magazine joins chorus telling Gulf states to break free from the declining US Dollar.

'No price hikes', traders warned
UAE Ministry of Economy threatens maximum penalties for suppliers who exploit increase in gov't wages.

Tamweel splashes $527m on Dubai land
Mortgage financer Tamweel has agreed with a partner to buy $526.6 million of land near Business Bay.

Sharif heads for home
Former premier returns in time to file nomination papers for Pakistan's January 8 election.

Space camp pushes Middle East frontiers
Residential camp will offer Gulf students courses in shuttle missions, rocket-building and robotics.

Nakheel & Istithmar may merge into $52bn giant
Two firms could become one of the p***t's largest real estate developers.

Saudi cuts key deposit rate
Monetary agency reduces some borrowing costs to relieve pressure on dollar-pegged currency.

Builders blasted for environmental impact
The construction industry has been named as one of the biggest polluters in the UAE.

Pakistan unrest will discourage investors
Construction companies claim their confidence in investing in Pakistan has been shaken by the political turmoil in the country.

Brazil targets Mideast for textiles
Brazil to launch a major campaign to promote the country's textiles industries across the Middle East.

UAE could impose broad taxes within a year
Studies into value added tax (VAT) are in advanced stages with charges likely to begin in 2008.

Iran sanctions could hit Germany hard
Tougher measures against Iran could cost the German budget up to 2 billion euros, magazine says.