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Budget deficit of Oman grows to OMR4.9 billion (Times of Oman - 22/01/2017)

Oman’s budget deficit increased by 21.4 per cent during January-November period of 2016, reaching OMR4,937.6 million, as plunging crude oil export revenues started affecting the government’s fiscal balance. According to a preliminary estimate released by

Qatar's non-oil economy set for solid growth (Trade Arabia - 22/01/2017)

Qatar’s efforts to broaden the economic base away from a reliance on hydrocarbons are gaining pace, as indicated by the country’s non-oil growth figures, said a new report by the global publishing firm Oxford Business Group (OBG). The country's plans to

Ipic and Mubadala name board for $125 billion mega merger (The National - 22/01/2017)

Mubadala Development and International Petroleum Investment Company (Ipic) have named the new board for their US$125 billion merged company, the government announced on Saturday. The chairman of the board of the combined conglomerates will be Sheikh

Dubai Customs scores 96.2% on happiness index during 2016 (The Gulf Today - 22/01/2017)

Dubai Customs scored an overall 96.2 per cent on Dubai Smart Office’s happiness meter. Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World, said he is happy with the result of this important evaluation that covered the

GCC healthcare construction market grows at a steady rate (Saudi Gazette - 22/01/2017)

e BNC Project Intelligence Database, there are approximately 709 healthcare construction projects with a combined estimated value of $65 billion out of which 133 healthcare projects are each worth over $100 million. These projects make up almost 80% of

UAE signs MoU with Japan on SMEs (The Gulf Today - 19/01/2017)

The UAE Ministry of Economy (MoE) has signed a Memorandum of Cooperation, MoC, with its counterparts from Japan on key aspects concerning innovation and small and medium enterprises, SMEs, to promote joint initiatives, knowledge and technology transfer,

UAE issues Global State of Future Report (The Gulf Today - 19/01/2017)

The UAE released the State of the Future Report, a first if its kind, on Wednesday in Davos containing over 100 forecasts for the next 40 years. The report was prepared in collaboration with 21 experts from organisations such as NASA, NYU Langone Medical

IMF praises Saudi budget plans (Saudi Gazette - 19/01/2017)

The International Monetary Fund (IMF) praised Saudi Arabia’s budget plans. Tim Callen, the IMF’s mission chief for Saudi Arabia, said the gist of Saudi Arabia’s plans was in line with the IMF’s recommendations and that eliminating the deficit by around

Mideast business leaders propose six-point reform plan (Arab News - 19/01/2017)

A bold six-point reform plan was on Wednesday proposed by regional business leaders, as a possible way to boost jobs and stability in the Middle East and North Africa. The World Economic Forum’s Middle East and North African (MENA) Regional Business

Qatar, Turkey chambers sign deal to enhance cooperation (Gulf Times - 18/01/2017)

tar Chamber has signed a cooperation agreement with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) at the opening rites of the ‘2nd SMEs Conference’ held at the Ritz-Carlton Doha yesterday. The agreement, signed by Qatar Chamber chairman

Dubai GDP expands 2.7% in 2016, expected to grow 3.1% in 2017 (The Gulf Today - 18/01/2017)

Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation, Chief Executive of the Emirates Group and Chairman of the Economic Development Committee in Dubai, said the economy of Dubai grew by 2.7 per cent in real terms in 2016, despite

Bahrain gears up to host 6th GCC Financial Forum (Saudi Gazette - 18/01/2017)

EUROMONEY Conferences, the world’s leading organizer of conferences for cross-border investment and capital markets and co-host, The Bahrain Economic Development Board (EDB), today announced the return of the GCC Financial Forum. The sixth annual event,

Saudi consumers ever more aware of online dangers (Saudi Gazette - 18/01/2017)

Gemalto, the world leader in digital security, on Tuesday released the findings of its 2016 Data Breaches and Customer Loyalty report, revealing that Saudi consumers place responsibility for protecting their personal data firmly at the hands of the

Record turnout at HVACR Expo Saudi 2017 (Saudi Gazette - 18/01/2017)

Hosting over 80 exhibitors, hundreds of innovative solutions, as well as revolutionary ideas, the second edition of HVAC R Expo Saudi closed Tuesday with a record-breaking attendance. “Saudi Arabia’s largest dedicated indoor climate and refrigeration

UAE foreign trade seen at $354 billion in 2016 (Trade Arabia - 17/01/2017)

The UAE’s foreign trade is projected to reach $354 billion in 2016, according to a new trade finance report published by the Dubai Financial Services Authority (DFSA). The study highlights key findings of a review of trade finance activities carried out

GCC’s credit strength expected to weaken further in 2017 (Gulfnews - 17/01/2017)

Credit rating agencies Moody’s and Standard & Poor’s expect further weakening of credit strengths of Gulf Cooperation Council (GCC) countries in 2017 with overall negative outlook for sovereign ratings. “Our outlook for sovereign creditworthiness in 2017

Saudi real estate prices plunge 6.1% in 2016 (Saudi Gazette - 17/01/2017)

The General Authority for Statistics (Gastat) said that the real estate sector has dropped in 2016 by 6.1% compared to 2015 and a drop of 8.5% compared to 2014. The last quarter of 2016 also witnessed a drop of 3.5% compared to the third quarter of 2016.

FM EXPO Saudi 2017, Saudi Clean Expo draw overwhelming response (Saudi Gazette - 17/01/2017)

FM EXPO Saudi 2017 and Saudi Clean Expo opened their doors to thousands of visitors as industry professionals turned out in force to learn more about this growing industry. With the support of Advanced Facilities Management, the headline sponsor of FM

Saudi Arabia to invest $30-50bn in renewable energy by 2032 (Arab News - 17/01/2017)

Saudi Arabia is launching a renewable energy program in the next few weeks that is expected to invest $30-$50 billion by 2032, Energy, Industry and Mineral Recourses Minister Khalid Al-Falih announced Monday. Al-Falih said at the World Future Energy

Developers upbeat on Dubai realty market (The Gulf Today - 16/01/2017)

Dubai’s real estate market is maturing and the latest Dubai Land Department report is a reflection of that. The comprehensive report also reflects the level of transparency by Dubai Land Department which has successfully steered the real estate market

Majority in Saudi Arabia satisfied with their current standard of livi (Saudi Gazette - 16/01/2017)

Happiness and wellbeing in the Middle East and North Africa have come into focus with the turn of the new year. A new survey by Bayt.com, the number one job site in the Middle East, and YouGov, a pioneer in online market research, titled the Bayt.com

Online shopping reshaping UAE retail sector (Saudi Gazette - 16/01/2017)

Consumer sentiment and spending levels continue to rise despite the effect of falling oil prices on the regional economy, according to a recent survey conducted by Virtual Info Systems (VIS), organizers of the first Smart Stores Expo (SSE) happening at

FM sector in Saudi Arabia is worth $20-$29 billion (Arab News - 16/01/2017)

Saudi Arabia is the largest facilities management (FM) market in the Gulf, representing some 55 percent of spending on the industry in the region, a top FM expert said Sunday at the Facilities Management Leaders’ Summit that opened here. Richard Naylor,

Qatar Chamber to launch ‘2nd SMEs Conference’ (Gulf Times - 15/01/2017)

Qatar Chamber has announced the launching of the ‘2nd SMEs Conference’ slated for January 17 and 18 in Doha. Sheikh Khalifa bin Jassim al-Thani, chairman of Qatar Chamber and the International Chamber of Commerce Qatar (ICC Qatar), said the event aims to

Dubai real estate transactions top $70bn in 2016 (Trade Arabia - 15/01/2017)

The total amount of real estate transactions recorded in Dubai, UAE last year exceeded Dh259 billion ($70.5 billion), according to the annual report released by Dubai Land Department’s (DLD). The Emirate recorded a total of 60,595 real estate

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