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Brisk turnout at Omani products' expo in Iran (Times of Oman - 28/09/2016)

Omani Products Exhibition (Opex), which was inaugurated on Monday in Tehran, is witnessing a good turnout of Iranian investors and business owners. Nasima Al Balushi, Ithraa’s director general of Export Development and member of Opex Organising

Muscat bourse drops on dull trading (Times of Oman - 28/09/2016)

Barring a special deal of 9.75 per cent of Phoenix Power worth OMR17.8 million, it was dull trading activity on the Muscat bourse and the MSM 30 Index closed at 5,748.61 points, down 0.33 per cent. The seller of Phoenix Power was Qatar Electricity &

Omantel supports ‘Edlal’ — an Omani e-knowledge platform (Oman Daily Observer - 28/09/2016)

As part of its framework for corporate social responsibility (CSR), Omantel, the Sultanate’s most trusted telecoms provider, has announced the launch of the first Omani open e-learning platform “Edlal”, in cooperation with “Rudha” and “Point”. Edlal is

Qafco participates in 7th annual GPCA fertiliser convention in Dubai (Gulf Times - 28/09/2016)

Qafco participated in the 7th Annual Gulf Petrochemical Association (GPCA) fertiliser convention held in Dubai recently. This year the conference focused on the theme – “Steering the fertiliser industry through challenging times’. The 7th GPCA Fertiliser

Qatar set to remain GCC's 'fastest-growing economy' (Gulf Times - 28/09/2016)

Qatar is set to remain the “fastest” growing country in the GCC region at 3.5% this year and 3.7% in 2017, the Institute of Chartered Accountants in England and Wales (ICAEW) has said in a report. The country’s hydrocarbon production will benefit from

Egypt’s pound falls to black market record (Gulf Times - 28/09/2016)

The Egyptian pound fell to a record low on the black market on speculation that policymakers will weaken the official exchange rate for the second time this year. The currency dropped to 12.99 per dollar, according to the average quote of four dealers

Saudi stocks tumble on government’s austerity measures (Gulf Times - 28/09/2016)

Saudi Arabia’s stock index slumped 3.8% yesterday after the government said it would cut ministers’ salaries by 20% and scale back financial bonuses and perks for public sector workers under an austerity drive. The new steps largely appear to formalise

Kuwait bourse to introduce stock swing limit (Trade Arabia - 28/09/2016)

Kuwait's stock exchange will introduce a limit of 20 per cent for the maximum daily rise or fall of individual stocks by November, Khaled Abdulrazzaq al-Khaled, chief executive of Boursa Kuwait, which operates the exchange, said on Tuesday. The exchange

Investcorp to distribute $700m to investors (Trade Arabia - 28/09/2016)

Investcorp, a leading provider and manager of alternative investment products, today announced projected investment distributions of over $700 million to investors (including itself) in the first quarter of its fiscal year 2017 (FY17). This follows a

Bahrain starts work on $483m sewerage project (Trade Arabia - 28/09/2016)

Work has started on a BD185-million ($483 million) Bahrain sewerage network project to link 52 residential units in the Muqaba area of the kingdom to the network. The scope of work includes the extension of 680-m-long main connections along with

WTO cuts 2016 world trade growth forecast to 1.7pc (Trade Arabia - 28/09/2016)

The World trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the United States. The new figure of 1.7 percent, down from the WTO's

Yuan steps on to world stage (The National - 28/09/2016)

China last week announced it was establishing the first clearing bank for yuan or renminbi (RMB) in the United States. This is seen as a milestone in the internationalisation of the Chinese currency just before the yuan is due to join a select club at

Saudi Arabia’s cost-cutting steps set austere tone in Gulf markets (The National - 28/09/2016)

Saudi shares had their worst day in more than four months on Tuesday, after the kingdom announced unprecedented cuts to state salaries, dragging equities lower across the Arabian Gulf. Stocks were sent reeling following the government’s decision to cut

Mobily CEO sees hit from fingerprinting, slower Saudi economy (Gulfnews - 28/09/2016)

Saudi Arabia’s demand that all phone and internet customers be fingerprinted for identification is pressuring Etihad Etisalat Co.’s sales and profits in the kingdom, according to Chief Executive Officer Ahmad Farroukh. Introduced this year, the

Saudi stocks slide 4%, falls the most globally on austerity steps (Gulfnews - 28/09/2016)

Investors fled Saudi’s Tadawul stock exchange yesterday following an announcement that the government would implement additional austerity measures, a move expected to hurt consumer demand. Saudi Arabian stocks tumbled 3.79 per cent, the most in the

UAE tops Arab world in global competitiveness ranking (Gulfnews - 28/09/2016)

The UAE continues to top the Arab world in competitiveness, according the World Economic Forum’s Global Competitiveness Report 2016-2017, an annual assessment of the factors driving productivity and prosperity in 138 countries. Climbing one position from

IMF warns central banks could lose deflation fight (The Gulf Today - 28/09/2016)

The International Monetary Fund warned on Tuesday that central banks are struggling to beat back deflationary forces and that governments need to spend to help them succeed. In a new assessment of global economic conditions, the IMF said many countries

Money supply increases to Dhs473.3 billion: Central Bank (The Gulf Today - 28/09/2016)

The UAE Central Bank has announced that the Money Supply aggregate M1, increased by 0.7 per cent, from Dhs469.8 billion at the end of July 2016 to Dhs473.3 billion at the end of August 2016. The Money Supply aggregate M2, decreased by 0.6%, from

Kuwait bourse edges lower; volume jumps – Ooredoo dives 60 fils; (Arab Times - 28/09/2016)

Kuwait stocks fell slightly on Monday after ticking higher on Sunday. The price index eased 2.36 to 5,407.87 points amid spurt in speculative trading in select counters. The board however remained broadly mixed even as oil prices continued to hover below

Bupa Arabia honors its strategic partners (Saudi Gazette - 28/09/2016)

Bupa Arabia for Cooperative Health Insurance, the largest specialized health insurance company in the Kingdom, honored two of its well- respected partners, Chbib Trading Co. Ltd. and Prince Ahmad Al Sudairi’s law firm, for a strategic partnership that

EY top consultancy firm in GCC region (Saudi Gazette - 28/09/2016)

EY is the number 1 ranked organization among all major management consultancy firms in the GCC for the quality of its business transformation capabilities, according to ‘Perceptions of consulting in the GCC’, a recent report published by Source, which

Middle East employs biggest number of Western teachers (Saudi Gazette - 28/09/2016)

International schools in the Middle East currently employ the highest percentage of Western teachers in the world at 86% of all full time staff. In the leading international schools in the Middle East, the number of Western teaching staff increases to

KSA 3rd most competitive in the Arab world (Saudi Gazette - 28/09/2016)

Saudi Arabia ranks third in the Arab World, according to The Global Competitiveness Report 2016-2017, which was published Tuesday. The report said the Arab world economies are among the top 30 most competitive in the world: These are UAE (16, up 1);

Riskier currencies jump as Clinton gets nod in debate (Arab News - 27/09/2016)

The yen dropped and higher-risk currencies surged Tuesday as markets appeared to give Hillary Clinton the edge over Donald Trump in the first US presidential debate. Investors had moved into assets seen as safe bets, such as the yen, ahead of the highly

Kingdom has a plan to balance oil market (Arab News - 27/09/2016)

Saudi Arabia is profoundly studying developments of the global oil market since August to develop scenarios allow the return of balance between supply and demand and the removal of the oversupplies, according to a source in OPEC. On the eve of the

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