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Experts praise fast-growing logistic sector
(Gulf Daily News - 31/03/2016)

Bahrain is beginning to rival Dubai for new business and in terms of logistics, experts said. Experts from around the region and Europe took part in the First GCC Logistics Conference, which opened yesterday at The Ritz-Carlton Bahrain. German-based

Oman may be first to launch VAT in the region
(Oman Daily Observer - 31/03/2016)

As part of measures to shore up revenues, Oman is expected to become the first country in the Gulf Cooperation Council to implement the long-planned value added tax (VAT). “Final touches are being made to the draft law relating to VAT. It is only a

Oman’s bank credit grows 8.8% in January
(Times of Oman - 31/03/2016)

Oman’s commercial banks have achieved a year-on-year growth of 8.8 per cent in total credit at OMR18.44 billion by January-end, over the same period last year. The incremental credit growth of all banks in absolute terms was OMR1,494.9 million, which is

Qatar keen to build power plants in Pakistan
(The Peninsula - 31/03/2016)

The Qatar government has expressed its interest in building two power plants in Pakistan for which the initial feasibility study is in progress, said Ambassador of Qatar to Pakistan Saqr bin Mubarak Al Mansouri while talking to members of the Islamabad

Funding gap drives banks to compete for deposits
(The Peninsula - 31/03/2016)

Reduced oil revenues are leading to a more challenging funding environment in the GCC. With the regional banks’ annual deposits growth slowing significantly, from around 10% during 2014 to around 3% during 2015, the liquidity is expected to remain tight

UAE announces $408m new development projects
(Trade Arabia - 31/03/2016)

The UAE government plans to develop 17 new projects worth Dh1.5 billion ($408 million) during 2016-2017 period in the Eastern region. The announcement was made by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and

‘GCC has enough levers to pull to avoid crisis’
(Gulfnews - 31/03/2016)

The GCC’s governments have enough levers to pull to avoid an economic crisis despite the plunge in oil prices, which has resulted in lower government revenues and a strain on federal budgets. According to Gary Dugan, chief investment officer — Private

Abu Dhabi Ports added 3% to non-oil GDP in 2015
(Khaleej Times - 31/03/2016)

Abu Dhabi Ports would continue to grow this year, despite volatile markets. "Our double-digit growth in recent years, despite many challenges in the maritime industry, gives us the confidence to look forward to continued growth this year as well," says

ICIE launches ‘Oasis of Innovation in Islamic Economy’
(The Gulf Today - 31/03/2016)

The International Centre of Islamic Economy (ICIE), headquartered at the Dubai Airport Freezone Authority (DAFZA) officially launched on Wednesday the digital portal of the ‘Oasis of Innovation in Islamic Economy’ concurrently with the groundbreaking of

Gitex Spring Shopper 2016 takes off
(The Gulf Today - 31/03/2016)

Thousands of tech-savvy consumers queued outside the Dubai International Exhibition and Convention Centre on Wednesday eagerly waiting the official opening of Gitex Spring Shopper 2016, the largest and most popular consumer IT and electronics show in

GCC to raise taxes further, cut noncore expenses: Report
(Saudi Gazette - 31/03/2016)

GCC economies are cutting back non-essential expenditures and introducing healthy reforms, Alkhabeer Capital, the asset management and investment firm based in Jeddah, said in the 2016 edition of its report reviewing GCC governments’ budgets. “The recent

Smart investment to drive global IoT market to $2 trillion valuation
(Saudi Gazette - 31/03/2016)

A gathering of global technology leaders at this week’s Internet of Things Expo (IoTX) at Dubai World Trade Centre (DWTC) believe a combination of hyper connectivity, supercomputing, cloud computing, smart technologies and cyber security will make the

PPP in Saudi hospitality industry strengthened
(Saudi Gazette - 31/03/2016)

Organized by the Saudi Commission for Tourism & National Heritage (SCTH) and Dur Hospitality, The Hotel Investment Conference, was held last March 28 March on the sidelines of the Saudi Travel & Tourism Investment Market (STTIM), in partnership with the

Saudi construction sector dominates Bahrain expo
(Arab News - 31/03/2016)

The organizers of gulfBID 2016 have confirmed the increase of companies from Saudi Arabia who are showcasing at the GCC’s premium annual expo for construction and building materials. According to the organizers, gulfBID 2016 will run from April 26 to 28

Kuwait signs $2.9 billion gas facility deal with Korean firms
(Arab News - 31/03/2016)

Kuwait has inked a $2.93 billion contract with three South Korean firms for the construction of the largest Liquefied Natural Gas (LNG) import facility in the oil-rich country. The project, to be built at the Al-Zour refinery near the border with Saudi

DME Oman spikes ahead of expiry
(Reuters - 30/03/2016)

DME Oman crude’s premium to Dubai swaps jumped to above 50 cents a barrel on Wednesday, as traders bought to cover positions a day ahead of the contract’s expiry. Cash Dubai went the other way and is set to end the month weaker, as its discount to swaps

Injazat, SAP launch private cloud service
(Trade Arabia - 30/03/2016)

Injazat Data Systems and SAP have launched a new UAE-based, world-class private cloud data center-based service targeting the estimated the Middle East IT market estimated to reach $240 billion by 2019. With over 50 billion things becoming connected to

Dow ranked among UAE’s top employers
(Trade Arabia - 30/03/2016)

Dow IMEA (Dubai Branch) has been named as a Top Employer in the UAE by the Top Employers Institute, which globally certifies excellence in the conditions that employers create for their people allowing companies to grow and develop. “At Dow we promote

GulfBID sees increased participation from Saudi
(Trade Arabia - 30/03/2016)

GulfBID 2016, the GCC’s premium annual expo for construction and building materials, is seeing an increase in the number of companies from Saudi Arabia showcasing at the annual event in Bahrain. GulfBID 2016 is held under the patronage of HRH Prince

Bahrain's Nogaholding secures $570m Islamic loan
(Reuters - 30/03/2016)

Nogaholding, the holding company for oil and gas assets owned by the government of Bahrain, signed to obtain a five-year, $570 million murabaha financing facility, it said on Wednesday. The Islamic funding will support investment in a number of large oil

Iraq could secure $15bn financing by June: IMF
(Reuters - 30/03/2016)

The International Monetary Fund could approve as early as June a standby arrangement (SBA) with Iraq unlocking $15 billion in international assistance over the next three years, the head of the IMF's Iraq mission said. Christian Josz said the package of

GCC banks' continue to face challenging liquidity conditions
(CPI Financial - 30/03/2016)

Persistently low oil prices continue to pressure the funding environment for banks across the Gulf Cooperation Council (GCC) countries, says Moody's Investors Service in a report published today, outlined below. The impact of low oil prices on GCC banks'

Arqaam Capital and Four Seasons announce plans for luxury resort
(CPI Financial - 30/03/2016)

Arqaam Capital has entered into a partnership with Four Seasons Hotels and Resorts, the world’s leading luxury hospitality company, to manage and operate Arqaam’s luxury mixed use resort currently being developed on the island of Hvar in Croatia. Four

ICD and Saturna Sdn Bhd Partner on Sustainable Islamic Investing ?
(CPI Financial - 30/03/2016)

Islamic Corporation for the Development of the Private Sector (ICD) and Saturna Sdn. Bhd. (Saturna), a wholly-owned subsidiary of US-based Saturna Capital Corporation, plan to sign an agreement to cooperate in offering sustainable Islamic investment

Forum spotlight on green technologies
(Gulf Daily News - 30/03/2016)

A blueprint for environmentally-friendly investments was the focus of a forum held yesterday.Green technologies, including waste disposal and renewable energy, were at the forefront of the discussion. It was organised by United Nations Industrial