2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February
Saudi vision calls for urban development that will last
(Saudi Gazette - 23/02/2018)

VISION 2030 adds sustainability to the agenda as it pushes to expand urban development; points include prolonged asset lifecycle, lower utility bills, and infrastructure to promote physical activity.<br/><br/> US Green Building Council Faculty Regional

Gulf banks catch eye of regional investors
(Arab News - 23/02/2018)

Gulf banks could benefit from rising global interest rates, a Bloomberg conference in London heard.<br/><br/> Hasnain Malik, global head of equity research at emerging markets bank, Exotix Capital flagged up emerging investment opportunities at the event

Saudi Arabia approves landmark bankruptcy law
(The National - 23/02/2018)

Saudi Arabia has approved a new bankruptcy law, a move analysts predict will help attract foreign direct investment, boost credit growth and allow the country’s SME sector to thrive, as the process of unwinding insolvent companies becomes

UAE’s economic growth projected to pick up pace in 2018
(Gulf News - 23/02/2018)

Economic performance is likely to improve in 2018 with firming oil prices, an improvement in global trade and the expected easing pace of fiscal adjustment, according to the latest assessment of the UAE economy by Institute of International Finance

Saudi Arabia to invest $64b in entertainment in next decade
(Gulf News - 23/02/2018)

Saudi Arabia announced plans Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would been unthinkable not long ago.<br/><br/> Long known for its ultra-conservative mores,

Djibouti illegally seizes DP World’s Doraleh port
(Gulf News - 23/02/2018)

Djibouti illegally seized control of the Doraleh Container Terminal from a Dubai Ports World-owned entity that designed, built and has operated the terminal pursuant to a concession awarded in 2006.<br/><br/> The terminal, the largest employer and

MoE launches smart e-platform for SMEs
(The Gulf Today - 23/02/2018)

Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, successfully launched a new electronic platform to help serve the country’s National Programme for Small and Medium Enterprises and projects, the executive arm of the SME’s Council.<br/><br/>

Dubai registers $22.3bn real estate projects in 2017
(Trade Arabia - 23/02/2018)

Dubai Land Department (DLD) said 2017 was a year full of activity for the emirate's real estate market, with a total of 90 projects completed and 150 projects worth Dh82 billion ($22.3 billion) registered during the year.<br/><br/> The spurt in the

UAE banks' assets hit $734 billion in 2017
(Trade Arabia - 23/02/2018)

The UAE-based banks' total assets surged to Dh2.693 trillion ($734 billion) at the end of 2017 from Dh2.642 trillion by the end of Q3 in the same year, continuing to lead GCC-based banks in terms of assets for the third year running.<br/><br/> The

Salini Impregilo seals $1.3bn Saudi National Guard deal
(Trade Arabia - 23/02/2018)

Salini Impregilo, a specialist in the construction and civil engineering business, has won a major housing project contract from Saudi Arabia National Guard.<br/><br/> The project comprises housing and urban planning on a large scale with the

Kuwait current account surplus improves in Q3
(Arab Times - 23/02/2018)

Kuwait’s current account surplus improved in 3Q17, as easing remittances and resilient exports countered a larger deficit in services. The surplus rose to KD 0.42 billion, versus KD 0.26 billion in 2Q17, reaching an annualized 4.8% of GDP. Overall, the

Kingdom’s Vision 2030 treasure for the meeting industry in Saudi Arabia
(Saudi Gazette - 22/02/2018)

The Kingdom has witnessed big improvements in the meetings industry, compared to previous years. It is an undeniable fact the role the Kingdom plays not only in the region but in the world politically, economically, technologically and on the

New Islamic economy products unveiled in Dubai
(Saudi Gazette - 22/02/2018)

Three new and unique solutions were launched in Dubai Wednesday at the 3rd Session: International Innovative Platform for Islamic Economy Products (IIPIEP 2018). The event, which was organized by Dubai Airport Freezone Authority (DAFZA) in cooperation

IDB launches digital platform for sustainable development
(Arab News - 22/02/2018)

The Islamic Development Bank (IDB) launched in the UK on Tuesday a digital platform called Engage, which will promote technological and scientific solutions to accelerate progress toward the UN’s sustainable development goals (SDGs).<br/><br/> Dr. Bandar

Bahrain will go ahead with VAT, says finance minister
(Times of Oman - 22/02/2018)

Bahrain will go ahead with imposing a value-added tax (VAT) to strengthen state finances, Minister of Finance Sheikh Ahmed bin Mohammed Al Khalifa said on Wednesday, after domestic political opposition slowed the plan.<br/><br/> "We'll be working with

Oman’s non-oil exports surge by 28% to OMR2.6b
(Times of Oman - 22/02/2018)

The value of Oman’s non-oil exports touched OMR2,600.8 million in the first 10 months of 2017, 28.2 per cent up from the OMR2,028.4 million registered in the same January to October period of the previous year.<br/><br/> A major recovery in energy prices

Qatar-Turkey trade volume set to touch $5bn
(The Peninsula - 22/02/2018)

With the fast growing economic cooperation between Qatar and Turkey, the bilateral trade volume between the two nations is expected to jump by manifold over the next few years. The current level of two-way trade exchange stood at $1.5bn, which is

Abu Dhabi’s GDP grows by 5.3% to Dh195.9b in Q3 2017
(Gulf News - 22/02/2018)

The GDP (gross domestic product) of Abu Dhabi grew by 5.3 per cent in the third quarter of 2017 compared to the same period during the previous year.<br/><br/> The GDP of the capital grew to Dh195.9 billion in the third quarter of 2017, from Dh186

Saudi sovereign fund is said to seek 15% stake in Accor’s unit
(Gulf News - 22/02/2018)

Saudi Arabia’s sovereign wealth fund is in talks to buy a 15 per cent stake in Accor SA’s property business in a transaction that could value the unit at about €6.2 billion (Dh2.7 billion, $7.64 billion), according to people familiar with the

Pioneering New Islamic Economy Products Launched in Dubai
(Media Office Dubai - 22/02/2018)

Three new and unique solutions were launched in Dubai today at the 3rd Session: International Innovative Platform for Islamic Economy Products (IIPIEP 2018). The event, which was organized by Dubai Airport Freezone Authority (DAFZA) in cooperation with

20 firms to compete for Oman’s first large-scale solar project
(Oman Daily Observer - 22/02/2018)

The Authority for Electricity Regulation Oman (AER) has issued preliminary confirmation to bidders participating in the solar project to confirm they satisfy the Authority’s Appropriate Person Criteria. Confirmation of compliance is a legal requirement

UAE banks’ assets hit $734 billion in 2017
(The Gulf Today - 22/02/2018)

The UAE-based banks’ total assets surged to $734 billion (Dhs2.693 trillion ) at the end of 2017 from Dhs2.642 trillion by the end of Q3 in the same year, continuing to be on top of GCC-based banks in terms of assets for the third year running.<br/><br/>

Saudi real estate financing to hit $133bn by 2020
(Trade Arabia - 22/02/2018)

The Saudi real estate financing sector has been witnessing a major surge over the last few years with the figure likely to hit SR502 billion ($133 billion) by 2020 from the current SR290 billion, said a report citing top experts at a real estate workshop

GCC construction market 'witnessing solid growth'
(Trade Arabia - 22/02/2018)

The GCC region's construction sector boasts a robust pipeline of projects currently in the planning stages, thus indicating there is still demand for construction projects, said a report by leading consultancy and advisory firm Deloitte. These projects

Investment vital as oil market rebalances, UAE minister
(Trade Arabia - 22/02/2018)

The collapse in global oil prices between June 2014 and January 2016 led to nearly $1 trillion in investment being frozen or discontinued with "many hundreds of thousands of jobs" being lost throughout the industry, said the UAE energy