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Kingdom’s longest railway to become operational in Dec.
(Saudi Gazette - 13/09/2017)

One of the world’s longest railway lines will be launched in the Kingdom on Dec. 24, realizing the dream of more than two million people. The 2,750-km railway line linking Riyadh with the northern city of Gurayat is being built at a cost of SR10 billion.

Most expensive penthouse sold in Dubai at Dh102m
(Khaleej Times - 13/09/2017)

Omniyat has revealed that an anonymous buyer has scooped up the most expensive penthouse in Dubai for Dh102 million, beating the previous record price tag of Dh60 million. Located at One Palm by Omniyat, the penthouse apartment was purchased on the

Aramco licenses tech for creating no-water automated dusting tool
(Saudi Gazette - 13/09/2017)

Saudi Aramco, a fully-integrated, global energy and chemicals enterprise and a world leader in exploration and production, refining and distribution, and the world’s top exporter of crude oil and natural gas liquids, has entered into a technology

GCC realty projects bag int’l excellence awards
(Saudi Gazette - 13/09/2017)

Real estate projects from the GCC, South America and Asia have been recognized as best in class at the Cityscape Awards for Emerging Markets, announced during a gala dinner on Sept. 11. With more than 300 initial submissions received, a total of 44

Banking customers in Saudi Arabia prefer mobile banking: Poll
(Saudi Gazette - 13/09/2017)

Banking customers in the Kingdom of Saudi Arabia are increasingly using digital channels to conduct their transactions, with mobile banking leading the way, according to a new survey from Avaya. The findings reveal that Saudi customers’ most-preferred

PDO signs $253m deals to boost Omani supply chain
(Trade Arabia - 12/09/2017)

Petroleum Development Oman (PDO), a leading exploration and production company in the sultanate, has agreed two deals worth $253.1 million to localise the provision of vital equipment for the oil and gas industry. The company has signed contracts for the

Bahrain expected to offer premiums to issue multi-tranche bond
(Gulf Times - 12/09/2017)

The government of Bahrain is expected to offer investors significant premiums over its outstanding debt when it issues bonds this week because of growing concern over its finances in an era of cheap oil, portfolio managers said. Investor meetings are due

SAP partners with Awasr to accelerate digital transformation
(Times of Oman - 12/09/2017)

Oman’s Internet service provider Awasr is partnering with global information technology solutions giant SAP to launch cloud services that will help realise Oman’s Vision 2020 of digital transformation. Awasr will provide Omani companies with business

Hamad Port to emerge as region’s leading trading hub
(The Peninsula - 12/09/2017)

The newly-opened Hamad Port is set to emerge as a major trading hub in the region. The state-of-the-art port fa cility is Qatar’s largest access to the sea and is a gateway to more than 150 destinations around the world. The world-class port will provide

VAT: GCC to witness massive wave of digital transformation
(The Peninsula - 12/09/2017)

The soon-to-be implemented Valued Added Tax (VAT) in Gulf Cooperation Council (GCC) countries is expected to initiate a massive wave of digital transformation as businesses prepare to ensure compliance with the new tax law, an Oracle and Harvard Business

Direct selling pays off for developers at Cityscape
(Gulfnews - 12/09/2017)

The basics of real estate buying and selling were on full display at Cityscape Global 2017, as developers and buyers benefitted from being able to transact right at the stand. Those basics — the right sort of property at the right location and pricing —

UAE, China geared for nurturing trade alliances
(The Gulf Today - 12/09/2017)

The UAE GDP growth rate has outpaced its global equivalent over the past five years, according to a top executive at the UAE Ministry of Economy, who attributed the jumbo leaps secured by the country’s domestic economy to a robust energy sector and an

Dubai’s non-oil private sector growth robust in August
(The Gulf Today - 12/09/2017)

Growth of Dubai’s non-oil private sector was sustained at a robust pace during August, supported by further gains in output, new orders and employment. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index, a composite indicator designed to

Abu Dhabi recognised as top financial destination
(The Gulf Today - 12/09/2017)

Abu Dhabi is ranked among the top 25 cities in the world in terms of economic competiveness as a financial centre, moving up three rankings from the previous position on the Global Financial Centres Index, (GFCI). The development was announced during

Increasing GCC youth to drive private investment in education
(Saudi Gazette - 12/09/2017)

Set to host 65 million youth by 2030, the GCC is set to be very attractive for private investors in the coming years, with the education sector looking especially promising, according to a recent study by management consultancy Strategy& (formerly Booz &

Saudi food security initiatives bolster growth opportunities
(Saudi Gazette - 12/09/2017)

The Kingdom of Saudi Arabia’s (KSA) food industry is undergoing a transformation with new societal trends such as social media, the Internet, changing consumer purchasing patterns, urbanization, and fast-paced lifestyles impacting its dietary habits.

Value of ongoing GCC construction projects at $2.4 trn
(Saudi Gazette - 12/09/2017)

Total value of 21,893 active construction projects in the GCC reached $2.4 trillion (Dh8.8 billion) at the beginning of September 2017, according to according to BNC Network, the largest and most comprehensive project research and intelligence provider

Dubai and Abu Dhabi once again claim top slots in latest Middle East
(Arab News - 12/09/2017)

The UAE has enhanced its position as the leading financial hub of the Middle East, with Dubai and Abu Dhabi claiming first and second regional spots in the twice-yearly Global Financial Centres Index (GFCI). Dubai jumped seven slots in the rankings, to

UAE’s AI investments to surge to $9 billion this year
(Trade Arabia - 11/09/2017)

The UAE’s investments in Artificial Intelligence have been growing by 70 per cent over the past three years, and are projected to hit Dh33 billion ($9 billion) by the end of this year, according to economic analysts. The figures drive home the fact that

GCC construction projects value hits $2.4 trillion
(Trade Arabia - 11/09/2017)

The total value of 21,893 active construction projects in the Gulf Cooperation Council (GCC) reached $2.4 trillion at the beginning of September 2017, according to a report. Of these, the total value of urban construction projects reached $1.18 trillion,

Bahrain real sector grows 4.5 per cent in first quarter
(The National - 11/09/2017)

The Bahrain Economic Development Board said the country's real estate sector grew 4.5 per cent in the first quarter of 2017, adding US$1.7 billion to the country's economy, as recent reforms to bolster investment in property sparked an increase in

New investment avenues opening in the GCC’s education sector
(The National - 11/09/2017)

Population growth in the GCC is spurring new investment opportunities in the region’s education sector, according to a new report by Strategy&. However, regulatory transparency coupled with higher demand increases risks. As the sector matures, new

Earnings at Qatar’s industrial producers jump on higher prices
(Gulf Times - 11/09/2017)

Qatar’s industrial producers’ earnings displayed robust performance year-on-year in July mainly on higher prices for hydrocarbons, refined petroleum products and other chemical products and fibres, official data suggest. Qatar’s producer price index

Duqm authority woos Chinese investors to free trade zone
(Times of Oman - 11/09/2017)

A promotional campaign for attracting investment from Chinese investors to the Duqm special economic zone was conducted in Dalian province by the Special Economic Zone Authority in Duqm (Sezad) on Sunday. The campaign focused on the incentives offered

Omani firm Al Fajar applies for four quarry licenses
(Times of Oman - 11/09/2017)

Al Fajar Al Alamia, an Omani firm listed on the Muscat bourse, has submitted four applications for licenses for quarries in northern part of the Sultanate. The company believes that the mining and quarrying industry in the Sultanate will see tremendous

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