2018 2017 2016 2015 2014 2013 2012 2011 News Archive
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Increased lending activity improves profitability of UAE banks
(Gulf News - 30/11/2017)

Leading UAE banks have reported robust improvement in performance with overall profitability and return on equity (RoE) higher in the third quarter of 2017, according to an analysis of key performance metrics by global professional services firm Alvarez

HSBC hosts Saudi investment forum in Hong Kong
(Trade Arabia - 30/11/2017)

HSBC hosted more than 100 institutional investors from across Asia, senior officials from Saudi Arabia and executives from some of the Kingdom’s biggest companies in an event focused on the government’s Vision 2030 transformation agenda. The HSBC Saudi

UAE Islamic banking assets surge 6pc to top $145bn
(GDN Online - 30/11/2017)

Assets of Islamic banks operating in the UAE amounted to Dh535 billion ($145.6 billion) by the end of October, around 6 per cent growth since the beginning of the year, accounting for 20.2 per cent of total banking assets in the country, valued at around

Dubai, the capital of fintech innovation
(The Telegraph - 30/11/2017)

Dubai's growing sphere of opportunity encompasses the fast-growing Middle East, Africa and South Asia (MEASA) markets, which are experiencing significant demographic shifts and have younger, more technologically savvy populations. The Dubai International

Dubai’s ICD first-half revenues rise
(reuters - 30/11/2017)

Investment Corporation of Dubai’s (ICD) first-half net profit rose 0.3 percent to 10.3 billion dirhams ($2.8 billion), the Dubai government’s main investment arm said on Wednesday. ICD benefited from higher commodity prices and continued strength in

HSBC hosts Saudi Arabia Investment Forum in HK
(Saudi Gazette - 30/11/2017)

HSBC hosted more than 100 institutional investors from across Asia, senior officials from Saudi Arabia and executives from some of the Kingdom’s biggest companies in an invitation-only event focused on the government’s ambitious Vision 2030

Saudi Arabia puts buzz back into Mideast startup scene
(Arab News - 30/11/2017)

A maturing investment ecosystem is bolstering startups across the MENA region, according to a new report, with a notable increase in activity from Saudi investment institutions over the past year. Since 2005, the top 200 funded startups in the MENA

Federal Tax Authority urges business to register for VAT
(The National - 30/11/2017)

The Federal Tax Authority (FTA) has urged businesses to sign-up for VAT as soon as possible to avoid fines for late registration, with little over a month before the levy is introduced on January 1. The authority said on Wednesday that applications for a

Real estate forum to showcase range of projects
(Times of Oman - 30/11/2017)

Diversity in the real estate product offerings of both local and international firms can boost the real estate sector in the Sultanate, said organisers of the forthcoming Oman Real Estate Exhibition and Conference (OREX). Innovative models such as

Property developers welcome approval of REIT funds
(Oman Daily Observer - 30/11/2017)

The Oman Real Estate Association (ORA), which groups some of the nation’s biggest and most prominent property developers and investors, has broadly welcomed the Capital Market Authority’s (CMA) recent decision to approve the introduction of Real Estate

Qatar Chamber reviews trade & labour cooperation with Kenya
(The Peninsula - 30/11/2017)

Qatar Chamber held a meeting with the visiting delegation from the Republic of Kenya yesterday chaired by the Director of Personnel Abroad at the Ministry of Foreign Affairs and Foreign Trade of Kenya, to discuss cooperation in investment fields. The

Qatar banks gear up for game changing accounting standard
(The Peninsula - 30/11/2017)

With the new financial reporting standard (IFRS9) is set to come into force from January 2018, banks in Qatar are busy making fundamental changes to their accounting model. The implementation of new standards means the banks will need to take into

Increased lending activity improves profitability of UAE banks
(Gulfnews - 30/11/2017)

Leading UAE banks have reported robust improvement in performance with overall profitability and return on equity (RoE) higher in the third quarter of 2017, according to an analysis of key performance metrics by global professional services firm Alvarez

Bahrain’s Gulf Interchem to build by-product recycling plant
(Biz Bahrain - 30/11/2017)

Sadara Chemical, a joint venture between Saudi Aramco and DowDuPont, said on Tuesday that Bahrain-based Gulf Interchem plans to build a by-product recycling plant near Sadara’s complex in Jubail. “Gulf Interchem will build an integrated treatment plant

Dubai Customs wins at UAE Ideas 2017
(Media Office Dubai - 30/11/2017)

Dubai Customs won the Innovation Shield at the 6th UAE Ideas Conference & Award 2017 which was held on 19th November 2017 at Grand Hyat Hotel in Dubai under the patronage of H.H. Sheikh Ahmed bin Saeed Al-Maktoum, President of Dubai Civil Aviation

Bahrain awards $13.4m contracts in October
(Trade Arabia - 30/11/2017)

Bahrain has awarded five contracts valued at over BD5.1 million ($13.4 million) in October, besides inviting bids for 11 tenders worth BD2.5 million ($6.5 million), five of which are for the sanitary sector and the construction sector and one for the

UAE housing boom to drive wood market growth
(Trade Arabia - 30/11/2017)

With over 25,000 homes being added to the UAE’s residential market this year, the wood and furniture market is likely to witness solid growth, said a report released ahead of the Dubai WoodShow. To be held from March 12 to 14, 2018, Dubai WoodShow is the

UAE Islamic banking assets surge 6pc to top $145bn
(Trade Arabia - 30/11/2017)

Assets of Islamic banks operating in the UAE amounted to Dh535 billion ($145.6 billion) by the end of October, around 6 per cent growth since the beginning of the year, accounting for 20.2 per cent of total banking assets in the country, valued at around

FTA clarifies VAT registration process
(The Gulf Today - 30/11/2017)

The Federal Tax Authority (FTA), has called on natural and legal persons exercising business in the UAE to expedite their registration process for the Value Added Tax (VAT), to avoid the risk of missing the deadline, on 1st January 2018. This applies to

UAE’s Drydocks gets 100% support for debt restructuring
(Reuters - 29/11/2017)

Creditors to UAE shipbuilder Drydocks, a unit of conglomerate Dubai World, have given unanimous support to a restructuring plan which will see Dubai-based ports operator DP World take control of Drydocks, sources close to the situation said. The deal is

Saudia partners with Airbus, Taqnia Aeronautics for Entaliq challenge
(Arab News - 29/11/2017)

Saudi Arabian Airlines (Saudia) has partnered with Airbus and Taqnia Aeronautics, for the second edition of the aviation innovation challenge, Entaliq. First launched in September 2016, the initiative represents a nationwide search for talented creative

Home-grown Gulf retailers eye expansion in developed markets
(The National - 29/11/2017)

Arabian Gulf retail firms are increasingly looking to enter developed markets such as the US and Europe in search of greater economies of scale at a time when Western multinationals are cutting back their own expansion plans in emerging markets amid

Qatar’s monthly PPI increases by 4.6% in October
(The Peninsula - 29/11/2017)

The monthly Producer Price Index (PPI) of industrial sector for October 2017 was estimated at 57.3 points, showing an increase of 4.6 percent compared to the previous month’s PPI. The rise in the index was primarily attributed to rebounding in prices of

PDO plans 100MW of new solar renewables capacity
(Oman Daily Observer - 29/11/2017)

Underscoring its ambitions to become a pivotal player in Oman’s promising renewable energy sector, Petroleum Development Oman (PDO) aims to develop 100 MW of new solar photovoltaic capacity at key oilfields installations across its Block 6 concession.

Qatar among 'best developed' ecosystem for Islamic finance
(Gulf Times - 29/11/2017)

Qatar is among the ‘top 10 nations’ in the world with the “best developed ecosystem” for Islamic finance, a report showed and noted that the country’s Islamic market was worth nearly $73bn in 2015. Qatar also figured among the top ‘Muslim consumer travel