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GCC to address impact of foreign direct investments (Saudi Gazette - 21/04/2015)

The Gulf Organization for Industrial Consulting (GOIC) announced Sunday that the 15th Industrialists’ Conference titled “Foreign Direct Investments: Their Impact on Gulf industries” will be held on Nov. 25-26, 2015 in Kuwait. The event is in

Greece and KSA keen to promote investment (Arab News - 21/04/2015)

A ministerial delegation from Greece led by tourism minister Elena Kountoura is in the Kingdom to bolster bilateral cooperation in various sectors as the minister met her counterpart and other higher authorities in Riyadh. Kountoura met Prince Sultan bin

Exclusive facilities for Mobily’s ‘Wajid’ subscribers (Arab News - 21/04/2015)

Mobily provides a special discount through “Wajid” packages for new subscribers for a period of three consecutive months. The discount on “Wajid Extra” was 60 percent while the discounts on “Wajid Smart” and “Wajid +” packages reached 40 percent and 20

Qatar tourism industry sustains growth in Q1 (Saudi Gazette - 21/04/2015)

Qatar’s burgeoning tourism industry continued growth in the first quarter of 2015 (January-March) as all key indicators of the tourism sector demonstrated improvement and growth against the same period last year, Qatar Tourism Authority (QTA) said

Marafiq selects Doble to enhance training services (Saudi Gazette - 21/04/2015)

To improve electrical grid reliability, Marafiq Power and Water Utility Company has contracted Doble Engineering Company, a subsidiary of ESCO Technologies Inc., to provide consulting and training services to support reliability best practices within its

Qatar to invest around $350bn in 15 years (The Peninsula - 21/04/2015)

Qatar as part of its sustainable development strategy will continue to invest around $350bn (QR1.27 trillion) over the next 15 years to achieve the goals, according to a senior official of IFP Qatar, the organiser of the upcoming ‘Project Qatar 2015’ to

NBO to get swanky head office in 2017 (Oman Daily Observer - 21/04/2015)

National Bank of Oman signed contracts with the construction company, Al Turki Enterprises to build a new head office in Athaiba. To cost around RO 50 million and expected to open in Q2, 2017, the nine storey will provide approximately 50,000 sqm of

Dubai, France to enhance trade relations (WAM - 21/04/2015)

Dubai Electricity and Water Authority (Dewa) organised on Monday the France-Dewa seminar at its Sustainable Building in Al Quoz, in collaboration with the French Business Council in Dubai and the Northern Emirates and Business France. The seminar is part

Shares gain on China stimulus; dollar rises (Agencies - 21/04/2015)

Global equity markets snapped back on Monday from a worldwide decline the previous session on China’s steps to stimulate its economy and solid corporate earnings, while the euro weakened amid worries that Greece may default. European stocks shrugged off

UAE, Belarus to strengthen co-operation (WAM - 21/04/2015)

Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Valentin Rybakov, Deputy Foreign Minister of Belarus, have discussed ways to enhance co-operation and promote economic relations between the two friendly countries. The meeting was attended by

Adnoc still in talks with companies on oil concessions (Bloomberg - 21/04/2015)

Abu Dhabi National Oil Co. (Adnoc) is still in talks with international companies about concessions at the emirate’s largest fields and hasn’t set a deadline for deciding on the awards, Director General Abdullah Nasser al Suwaidi said. Total SA is the

China, Pakistan unveil $46 billion plans (AFP - 21/04/2015)

China and Pakistan launched a plan on Monday for energy and infrastructure projects in Pakistan worth $46 billion, linking their economies and underscoring China’s economic ambitions in Asia and beyond. China’s President Xi Jinping arrived in Pakistan

VP honours winners of DQA (The Gulf Today - 21/04/2015)

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, attended the 21st Business Excellence Awards ceremony hosted by the Department of Economic Development (DED) in Dubai and honoured the winners

Saudi stocks slip; other Gulf markets rise (Gulf Times - 21/04/2015)

Saudi Arabia’s bourse pulled back slightly yesterday after several companies reported poor first-quarter earnings; other Gulf markets were positive, although disappointing earnings slowed Qatar’s advance. The main Saudi index edged down 0.3% to 9,589

IBQ wins 2 ‘Global Banking and Finance Review’ awards (Gulf Times - 21/04/2015)

International Bank of Qatar (IBQ) has been recognised as “Best Private Bank Qatar 2015” and for “Best Customer Loyalty Programme Qatar 2015” during the Global Banking and Finance Review Awards 2015. IBQ managing director Jabra Ghandour said, “We are

Oman's share index edges higher (Times of Oman - 21/04/2015)

MSM30 Index continued its uptrend to close at 6,325.25 points, up by 0.56 per cent. The MSM Sharia Index closed at 958.42 points, up by 0.15 per cent. Oman & Emirates Holding was the most active in terms of volume while Bank Muscat was the most active in

Ithraa signs pact to attract inward investment in Oman (Times of Oman - 21/04/2015)

Attracting inward investment is a national priority and on Monday Ithraa and the Ministry of Commerce & Industry (MoCI) signed a memorandum of understanding (MoU) that takes Oman's efforts to attract and facilitate inward investment to a new height. The

Central Bank of Oman to host three working groups (Times of Oman - 21/04/2015)

The Central Bank of Oman is hosting three working group meetings of the Islamic Financial Services Board (IFSB), in Muscat on from April 21 to 23, 2015. These working groups include a task force for the technical note on stress testing for institutions

‘Oman seeks to utilise 10mbd of oilfield produced water efficiently’ (Times of Oman - 21/04/2015)

Oman is exploring ways to better utilise the 10 million barrels of water that is inevitably produced as a byproduct in its oil fields every day, said a senior official at the Ministry of Oil and Gas. The accompanying water, which is termed 'oilfield

Damac Properties shares break Dh3 barrier for the first time (The National - 21/04/2015)

Damac Properties shares broke through the Dh3 barrier for the first time yesterday, boosting Dubai’s stock market to a new high for the year so far. Damac shares ended trading up 11.8 per cent at Dh3.31, their highest level since its January listing. The

Aswaaq tests waters with online shopping (The National - 21/04/2015)

Aswaaq has become the latest local food retailer to dip its toes into online retailing, seeking to eliminate the need to actually visit a supermarket for grocery shopping. The Dubai-based retailer, owned by the Investment Corporation of Dubai, yesterday

Middle East oil and gas firms still hiring new staff (Gulf News - 21/04/2015)

Recruitment of new employees for oil and gas companies outside the Gulf region has slowed down, but businesses in the UAE and the rest of the Middle East continue to push forward with hiring, a new report reveals. As of the first three months of the

Dubai crown prince approves Islamic economy initiatives (Gulf News - 21/04/2015)

Shaikh Hamdan Bin Mohammad bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Dubai Executive Council, on Monday approved a series of initiatives proposed by the board of Dubai Islamic Economy Development Center (DIEDC). The initiatives

Kuwait studying proposals to introduce same tax for local, foreign (Reuters - 21/04/2015)

Kuwait is studying proposals to introduce the same tax rates for local and foreign companies, Finance Minister Anas Al Saleh told reporters on the sidelines of a business conference on Monday. “There is a list of taxes on local and foreign companies —

Shurooq flags off roadshow to Taiwan, Shanghai (Gulf News - 21/04/2015)

The Sharjah Investment and Development Authority (Shurooq) is on a five-day roadshow to Taiwan and Shanghai, according to a statement on Monday. The roadshow, which runs from April 19 to 23, began in Taiwan. Officials will be meeting with bodies in

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