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Mubadala and IPIC to merge (CPI Financial - 30/06/2016)

His Highness Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, issued a resolution to merge International Petroleum Investment Company (IPIC), and

Oman sells $500m six-year sukuk (Reuters - 30/06/2016)

Oman's government has sold a $500 million six-year sukuk in a private placement, a document from the lead manager showed on Wednesday. The sukuk's profit rate is 3.5 per cent and the Ijara-structured instrument will be repaid in three equal instalments

KSA improves real estate transparency (Arab News - 30/06/2016)

Saudi Arabia has moved up the rankings to finish in the ‘semi-transparent’ category for the first time in the JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI). Strong advances over the past two years have seen

KAEC sets up office for reselling and renting residential properties (Saudi Gazette - 30/06/2016)

King Abdullah Economic City (KAEC) has announced the establishment of its new “Select Real Estate Services” department, which specializes in providing resale and rental services for residential units and land already purchased by investors in KAEC. “The

Cayan inks accord with Bidaya Home Finance (Saudi Gazette - 30/06/2016)

Cayan Group, the leading property developer in the Middle East, recently signed an agreement with Bidaya Home Finance in Saudi Arabia to provide financing solutions to their clients. Bidaya Home Finance is a national real estate finance company sponsored

Nuclear power to ‘free up’ more oil and gas in GCC: Apicorp (Gulf Times - 30/06/2016)

Nuclear power would “free up” more oil and gas for export in the GCC region, Apicorp Energy Research said in a report. On the other hand, net energy-importing countries such as Egypt and Jordan would be able to secure long-term energy and reduce their

Qatar’s investment in UK reaches QR150bn: British PM (The Peninsula - 30/06/2016)

Qatar’s investment in the UK has reached £30bn (nearly QR150bn), which is expected to grow further in the near future as the country remains well positioned to weather the economic challenges it faces, David Cameron (pictured), the British Prime Minister

Gulf Petchem partners with Indian conglomerate (The Gulf Today - 30/06/2016)

The Gulf Petrochem has partnered with Kirloskar Oil Engines Ltd (KOEL), part of the Kirloskar Group one of India’s largest diversified engineering conglomerates. Under the agreement the joint venture will launch K-Oil into the Middle East and African

MoF launches e-dirham card charge service (The Gulf Today - 30/06/2016)

Following its commitment to transferring to smart government services by promoting e-payment operations in the UAE, the Ministry of Finance (MoF) on Wednesday launched the e-dirham card charging service through MBME for collecting fees and payment

Dubai-based firm announces project on Australia’s Sunshine Coast (The Gulf Today - 30/06/2016)

Dubai-based business conglomerate Najibi Group, which recently opened the doors to its new investment and development company Sanad Capital Pty Ltd in Australia, has just announced its very first venture on the nation’s Sunshine Coast – an A $400 million

Sterling Tumbles and Markets Move Toward Chaos (Press Release - 29/06/2016)

As markets start to come to terms with the immediate fallout of the U.K.'s decision to leave the EU, politicians and officials are trying to figure out a road-map for a divorce that will not only be costly for both sides, but also very difficult in

Oman issues treasury bills worth OMR20m (Times of Oman - 29/06/2016)

A tender of Government Treasury Bills, issue number 563, was held at the Central Bank of Oman (CBO) this week. The total value of the allotted Treasury bills amounted to OMR20 million, for a maturity period of 364 days, from June 29, 2016 until June 28,

QP to hand over management of some areas at Mesaieed Industrial City (Gulf Times - 29/06/2016)

As part of its strategy to focus on its core business in the oil and gas industry, Qatar Petroleum (QP) will hand over the management and operation of some of areas within its concession in the Mesaieed Industrial City to the Economic Zones Company Qatar

Private wealth in Oman is expected to reach $0.4 trillion in 2020: BCG (Times of Oman - 29/06/2016)

By 2020, private wealth in Oman will rise from $0.3 trillion to $0.4 trillion, according to a new report by The Boston Consulting Group (BCG), Global Wealth 2016: Navigating the New Client Landscape, released on Tuesday. In the next five years, the

Saudi Arabia unveils $1.3bn development projects (Trade Arabia - 29/06/2016)

The Saudi government has announced development projects worth SR5.1 billion ($1.3 billion) in the Madinah region including the setting up of new power plants as well as implementation of a sanitary drainage network, said a report. The announcement was

Six Flags in talks to build theme parks in Saudi Arabia (Trade Arabia - 29/06/2016)

Saudi Arabia has begun talks with Six Flags Entertainment Corp to build theme parks, the company said on Tuesday, as part of the kingdom's efforts to expand its tourism sector and diversify the economy. Developing the leisure sector is fraught with

VAT to open up employment opportunities in UAE (Gulfnews - 29/06/2016)

Hundreds of new employees will be hired over the next few months in the UAE and the rest of the Gulf Cooperation Council (GCC) region as companies prepare for the implementation of value-added tax (VAT), human resources and tax specialists told Gulf

Private wealth in the UAE is poised reach $1 trillion in 2020 (Gulfnews - 29/06/2016)

Private wealth in the UAE is projected to post a compound annual growth rate of 14.1 per cent to reach almost $1 trillion in 2020; over the next five years, private wealth held by ultra-high-net-worth households in the Emirates is also expected to

Investment Corporation of Dubai reports fall in 2015 net profit (The National - 29/06/2016)

The Investment Corporation of Dubai (ICD), the sovereign wealth fund that has stakes in companies such as Emirates airline and Emirates NBD, said its net profit fell by 3.8 per cent last year, as income from its discontinued operations fell. Net income

Kuwaiti banks enjoy adequate levels of liquidity and not impacted (Arab Times - 29/06/2016)

The General Manager of Treasury Group at NBK, Sulaiman Al-Marzouq, stated that it is difficult to predict the levels the Euro or the Pound could reach in the aftermath of the EU referendum results in the UK amid the wide fluctuations in the currency

Saudi Arabia private wealth to rise to $2 trillion by 2020 (Saudi Gazette - 29/06/2016)

Private wealth in Saudi Arabia will rise to $2 trillion, according to a new report by The Boston Consulting Group (BCG) titled “Global Wealth 2016: Navigating the New Client Landscape” released Tuesday. In the next five years, the growth of private

Saudi foreign assets rise to SR2.148 trillion in May (Arab News - 29/06/2016)

Saudi Arabia’s foreign-currency reserves rose modestly in May for the first time in 16 months, probably due to a $10 billion syndicated loan concluded in the previous month. Saudi Arabian Monetary Agency’s (SAMA) net foreign assets climbed 0.1 percent to

World Economic Forum names GlassPoint Solar Technology Pioneer’ for 16 (Times of Oman - 28/06/2016)

GlassPoint Solar, the leading supplier of solar energy to the oil and gas industry, announced on Monday it has been named as one of the World Economic Forum’s (WEF’s) Technology Pioneers, a selection of the world’s most innovative companies. GlassPoint

Qatar exports up 13.4% m-o-m to QR17bn in May (Gulf Times - 28/06/2016)

Qatar has registered a 13.4% growth month-on-month on total exports of goods, which amounted to QR17bn in May, according to the Ministry of Development Planning and Statistics (MDPS). The total exports of goods include exports of goods of domestic origin

Brexit to create ‘more business opportunities’ for Qatar (The Peninsula - 28/06/2016)

Britain’s decision to leave the European Union (EU) has caused adverse impact on stock markets globally, but experts suggest that it may not be “necessarily bad” for the Qatari economy as it will create more opportunities for trade and investments for

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