2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February March April May June July August September October November December
UAE developers weigh up the cost of VAT on construction
(Gulfnews - 21/09/2017)

Dubai’s developers will have to work out ways to handle the VAT (value-added tax) on contractors during a project development phase. This could even have an impact on how developers end up pricing their property values, an industry source said. As such,

BCG Report Reveals the Six Imperatives to Empower Women Leaders
(Biz Bahrain - 21/09/2017)

The subject of gender diversity is still an emerging one in the Gulf Cooperation Council (GCC) region – where levels of engagement differ across countries, industries, and organization sizes; hence, many organizations may be missing out on significant

Innovation under the spotlight at Sharjah FDI 2017
(The Gulf Today - 21/09/2017)

Innovation and technology were the subjects under discussion during the final panel sessions on the opening day of Sharjah FDI Forum 2017, which concluded on Wednesday at the Jawaher Reception and Convention Centre, Sharjah. The two-day global

Expo 2020 links up business community
(The Gulf Today - 21/09/2017)

The lasting benefits of working with Expo 2020 Dubai will be outlined at a gathering of more than 1,000 delegates from 110 countries at the World Chambers Congress in Australia this week. The congress, which is taking place in Sydney from 19th - 21st

‘Great Workplaces Saudi Arabia List 2017’ attracts huge interest
(Saudi Gazette - 21/09/2017)

In line with international business trends and best practices, entities from the public, private and non-profit sectors of Saudi Arabia are now competing to be recognized for the quality of their work environment. As recently reported by Great Place to

Saudi e-commerce market to double to $22 billion by 2020
(Saudi Gazette - 21/09/2017)

Saudi construction giant alfanar has joined regional organizations such as Virgin Megastore Middle East and North Africa, the Sharjah Cooperative Society, and MODUL University Dubai in showcasing global best practices in digital marketing to transform

Saudi Arabia launches SR10bn entertainment push
(Arab News - 21/09/2017)

Saudi Arabia is set to launch a SR10 billion ($2.67 billion) entertain-ment company as it aims to create 22,000 jobs in the under-served sector. The Public Investment Fund (PIF) said it was in the process of forming a company that will channel

Oman’s Sohar Aluminium gradually restarting production
(Arab News - 21/09/2017)

Oman’s Sohar Aluminium said on Wednesday it was restarting production after an interruption in August, and was working to return to full production as soon as possible. “Sohar Aluminium has confirmed it has re-energised the potline,” CEO Said Al-Masoudi

$72bn hospitality projects under way in UAE
(Trade Arabia - 20/09/2017)

A total of 543 hospitality projects worth Dh262.77 billion ($71.6 billion) are currently under way across the UAE, thus reflecting the vibrancy of the leisure, tourism and the entertainment sectors, according to a report. Of this, a total of 20

Khalifa Port's expansion work to enlarge and deepen the facility
(The National - 20/09/2017)

Abu Dhabi’s US$7 billion Khalifa Port is on track to complete marine works by the second quarter of next year in an expansion project to accommodate a new terminal that will be managed by China’s Cosco Shipping Ports. Abu Dhabi Ports, the operator of

UAE Central Bank ramps up clampdown on banks mis-selling consumer
(The National - 20/09/2017)

The Central Bank of the UAE has stepped up action against banks following complaints of mis-selling on consumer and investment products, a senior executive at the institution said on Tuesday, Nariman Alawadhi, chief manager at the Central Bank, said that

Non-banking finance firms expect marginal growth in demand for funds
(Times of Oman - 20/09/2017)

Leasing and hire purchase firms are showing signs of stability and overall asset growth is expected to be around 5 per cent this year, a top-level official from a non-banking finance company said. A recovery in economic growth in the first quarter is a

NBC’s Reyooq initiative sheds light on energy sector investment
(Oman Daily Observer - 20/09/2017)

The National Business Centre (NBC), which is part of the Public Establishment for Industrial Estates (PEIE), hosted on Tuesday an edition of its Reyooq initiative, highlighting the significance of investment in the energy sector in the Sultanate.

DMCC signs MoU with China trade, logistics park
(Gulfnews - 20/09/2017)

The Dubai Multi Commodities Centre (DMCC), the government authority on trade, enterprise and commodities in Dubai, signed a Memorandum of Understanding (MoU) with the Xi’an International Trade and Logistic Park at the Xian Dubai Free Trade Zone Economic

Qatar pours more billions into local banks
(Gulfnews - 20/09/2017)

Qatari authorities stepped up their support of domestic banks for the third month in a row in August in an attempt to offset foreign withdrawals as the showdown between the Gulf emirate and a Saudi-led alliance show no sign of abating. Public-sector

Sultan graces Sharjah FDI Forum
(The Gulf Today - 20/09/2017)

His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, on Tuesday presided over the opening of the Sharjah FDI Forum 2017, which commenced at Al Jawaher Reception and Convention Centre, Sharjah. Under its

Bahrain issues new regulations for Islamic banks
(Saudi Gazette - 20/09/2017)

The Central Bank of Bahrain (CBB) has announced new Shariah governance regulations applicable to wholesale and retail Islamic banks in Bahrain. The new regulations are credit positive for investors because they will lead to a more consistent and robust

Five Saudi ministers review procedures to support SMEs
(Saudi Gazette - 20/09/2017)

The first day of "BIBAN 2017" Conference and Exhibition, which was launched by the Small and Medium Enterprises General Authority at the Riyadh International Convention and Exhibition Center on Sunday, witnessed interactive sessions that discussed

Saudi Arabia announces closure of third Sukuk offering
(Al Arabiya - 19/09/2017)

The Ministry of Finance announced on Tuesday that it had closed the third domestic Sukuk issuance under the Saudi government SAR-denominated Sukuk Program. In the a statement released to the Saudi Press Agency, the finance minister said he subscription

Path Solutions signs Sudan Financial Services Co. to iMAL
(Press Release - 19/09/2017)

Kuwait-based Path Solutions, an international core banking system provider for Islamic banks and financial institutions, has announced the signing of a licence agreement with Sudan Financial Services Company (“SFSC”), giving Path Solutions unrestricted

Kuwait: Early signs of recovery of the consumer sector
(Press Release - 19/09/2017)

The consumer sector appeared to stabilize and show some early signs of recovery in 2017, following a noticeable slowdown in 2016. Lower oil prices and some fiscal adjustment negatively impacted the consumer sector in 2016. Although we are seeing

Gulf Capital Announces the Successful Sale of Reach Employment Service
(Press Release - 19/09/2017)

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, announced today the full exit from its portfolio company, Reach Employment Services, the leading manpower outsourcing company in the UAE, generating a return

Saudi producers sees sales drop 16% in August 2017
(Cement News - 19/09/2017)

The sales of Saudi cement producers fell 15.5 per cent to 3.72Mt in August 2017 when compared to 4.4Mt reported in August 2016. Total production in August reached 3.79Mt, down YoY from 4.3Mt, according to Yamama Cement Co. Cement inventories rose 11.3

Saudi Arabia Raises $1.9 Billion From Islamic Bond
(Bloomberg - 19/09/2017)

Saudi Arabia raised 7 billion riyals ($1.9 billion) from domestic sukuk sales as the kingdom seeks to bolster finances amid an economic overhaul and lower oil prices. The government received more than 24 billion riyals in bids for its third

Business lending recovery to strengthen UAE banks
(The National - 19/09/2017)

The UAE banking sector is likely to strengthen this year and in 2018 on the back of increased lending to businesses, according to BMI Research, barring any fresh slump in oil prices during the period. “Despite having slowed moderately in the past several