2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February March April May June July August September October November December
UAE tax to double tobacco, energy drink prices
(Arab News - 28/09/2017)

Tobacco and energy drink prices are set to double in the United Arab Emirates, which is imposing steep excise taxes to help ease a budget shortfall caused by low oil prices. Khaled Al-Bustani, director general of the newly established UAE Federal Tax

(Reuters - 27/09/2017)

A venture capital firm focused on tech startups in the Middle East has signed up Dubai billionaire Mohamed Alabbar as an anchor investor in a new fund that aims to raise $250 million, the company said on Wednesday. Alabbar, who is chairman of Emaar

UAE: Oil cuts weigh on growth in 2017, but outlook remains favorable
(Press Release - 27/09/2017)

Economic growth in the UAE is expected to moderate further in 2017, before seeing a pick-up in 2018 as the non-oil sector gathers momentum and offsets continued weaknesses in the oil sector. We see GDP growth moderating from 3.0% in 2016 to 2.2% in 2017,

Petrochemicals: Leveraging Saudi Arabia’s Sweet Spot
(Frobes Middle East - 27/09/2017)

Saudi Arabia’s efforts to broaden its share in the global petrochemicals market since the 1990s are paying off. An early start has given the Kingdom a sturdy foothold to fend off intensifying competition from Asia, the US and Iran in the rapidly-growing

Saudi economy grew in 2016 despite global slump: SAMA
(Arab News - 27/09/2017)

While the global economic growth rate declined from 3.4 percent in 2015 to 3.1 percent last year, the Kingdom’s economy grew by 1.7 percent, the Saudi Arabian Monetary Agency (SAMA) reported. King Salman’s “wise leadership was keen on improving citizens’

Nasdaq Dubai welcomes listing of $1.25bln Sukuk by IDB
(WAM - 27/09/2017)

Nasdaq Dubai has welcomed the listing of a US$1.25 billion Sukuk issued by the Islamic Development Bank, IDB. The listing brings the number of Sukuk listings by the IDB on the exchange to eight with a total value of $10.25 billion, making it one of the

Arzan Wealth Delivers Strong Results with Sale of VW Warehouse
(Press Release - 27/09/2017)

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the successful sale of the German warehouse used as a spare parts storage and the

Eurisko Mobility Adds AI Bots to its Digital Experience Platform
(Press Release - 27/09/2017)

In exciting news for both financial institutions and their customers, Lebanon-based mobile development leader Eurisko Mobility recently announced the addition of Artificial Intelligence Bots to its Digital Experience Platform (DXP), a cutting-edge

Kuwait likely to approve law to enable 30-year bond issues: official
(Reuters - 27/09/2017)

Kuwait's parliament is likely to approve a law to extend the country's borrowing limits, enabling 30-year debt issues, a senior finance ministry official said on Tuesday. The law would allow Kuwait to increase its debt ceiling to 25 billion Kuwaiti dinar

Kuwait wealth fund assets grew over 34 pct in 5 years-finmin
(Reuters - 27/09/2017)

Assets managed by Kuwait Investment Authority (KIA), one of the world’s biggest sovereign wealth funds, have grown more than 34 percent over the past five years, Finance Minister Anas al-Saleh said. Speaking at a Euromoney conference, Saleh described the

Saudi Shoura Council calls on SIDF to encourage women
(Arab News - 27/09/2017)

The Shoura Council called on the Saudi Industrial Development Fund (SIDF) to adopt initiatives aimed at identifying and encouraging women who wish to enter the field of industrial investment and provide financial support and advice to them. This came on

UAE inks nuclear energy deals with UK, Canada
(Trade Arabia - 27/09/2017)

The UAE’s Federal Authority for Nuclear Regulation (FANR) has signed two international co-operation agreements with leading nuclear regulators aimed at exchange of knowledge and information related to the peaceful use of nuclear energy, as well as safety

ME firms cautiously optimistic for year ahead growth
(Trade Arabia - 27/09/2017)

Almost half (49 per cent) of Middle Eastern institutions are somewhat or highly confident of hitting growth targets in the next 12 months, but more than a quarter (28 per cent) are pessimistic about prospects, a report said. This shows that they are less

Emirates NBD calls on central bank to ease restrictions on mortgage
(The National - 27/09/2017)

Emirates NBD, Dubai’s largest bank by assets, wants the UAE Central Bank to ease restrictions on mortgage loans by separating housing finance from the bracket of funding extended to the real estate and construction sectors, a move the bank hopes will

GCC fertiliser production capacity surges by 12% in 2017
(Times of Oman - 27/09/2017)

Fertiliser production capacity in the Gulf Cooperation Council (GCC) region has reached 42.3 million tonnes per annum in 2017, rising by 12 per cent over the previous year, a new report by the Gulf Petrochemicals and Chemicals Association (GPCA), the

QBA & Russian-Qatari Business Council to enhance cooperation
(The Peninsula - 27/09/2017)

The Qatari Businessmen Association (QBA) met with the visiting Russian-Qatari Business Council members. The delegation was led by the Council’s Chairman Ahmed Blancoev, and Dr Louay Yousuf, Executive Director of the Council. Both the parties discussed

UAE is 17th most competitive economy globally
(Gulfnews - 27/09/2017)

The UAE inched down one spot in terms of its national competitiveness, coming in as the 17th most competitive economy among 137 countries. According to the Global Competitiveness Report for 2017 issued by the World Economic Forum (WEF), the UAE continued

Dubai Economy partnership to expedite emCash
(The Gulf Today - 27/09/2017)

Dubai Economy has achieved a milestone in its Accelerators initiative by establishing a partnership to facilitate financial transactions through contactless payment. The partnership brings Emcredit, a subsidiary of Dubai Economy, and the UK-based Object

Oman Tech Fund, Qatar Science Park sign MoU
(The Gulf Today - 27/09/2017)

The Oman Technology Fund (OTF) signed yesterday, a Memorandum of Understanding (MoU) with Qatar Science and Technology Park, part of Qatar Foundation Research and Development. The MoU lasts for three years and focuses on venture investment. It will help

Govt nod for Mandatory Healthcare Insurance for expats in Oman
(Oman Daily Observer - 27/09/2017)

Oman’s Council of Ministers has approved a proposal submitted by the Capital Market Authority (CMA) setting out a strategy for the introduction of Mandatory Healthcare Insurance for private sector expatriates, effective from 2018. An announcement to this

Expo 2020 Dubai to set economic legacy for Middle East
(The Gulf Today - 27/09/2017)

Companies from around the world with expertise in facilities management services, such as landscaping, maintenance and cleaning, found out how they could become part of the Expo 2020 Dubai journey at the latest Meet the Buyer event. The series aims to

Deutsche Bank hosts Saudi Capital Markets Conference in London
(Saudi Gazette - 27/09/2017)

Deutsche Bank announced Tuesday the opening of The Saudi Capital Markets Conference in London, United Kingdom. Organized by Deutsche Securities Saudi Arabia (DSSA) in coordination with the Capital Market Authority (CMA) and the Saudi Stock Exchange

Malaysia encourages Saudi businessmen to invest in downstream industry
(Saudi Gazette - 27/09/2017)

A Malaysian delegation has visited on Tuesday the Jeddah Chamber of Commerce and Industry (JCCI). In the meeting, the delegation presented different private sector projects particularly in the downstream sector as well as in food, textile, technology,

Saudi central bank announces measures to cut mortgage costs
(Arab News - 27/09/2017)

Saudi Arabia’s central bank has scrapped administrative fees for mortgage holders if they switch between fixed and floating rate loans, as part of new measures to boost the housing market. The Saudi Arabian Monetary Authority also announced, via its

Ajman Free Zone Opens Corporate Re-domiciliation Services
(Press Release - 26/09/2017)

In a move that would support and reinforce the UAE’s consistent endeavor to enhance FDI flows into the country, Ajman Free Zone (AFZ) today announced that it has started offering corporate re-domiciliation services to global offshore companies in its