2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February March April
Saudi insurance sector’s profit drops 55% in 2017
(Saudi Gazette - 23/04/2018)

With all listed insurers in Saudi Arabia having published their preliminary year-end 2017 financial reports, S&P Global Ratings calculates that net income for the whole sector dropped by 55% to about Saudi Arabian riyal (SR) 1.1 billion from SR2.5

Britain, Saudi Arabia target $90bn trade, investment opportunities
(Arab News - 23/04/2018)

Saudi Arabia and Great Britain have set out a new vision of their bilateral relationship, with an ambitious target of achieving $90 billion in trade and investment opportunities in the coming years, said Simon Collis, British ambassador to the Kingdom.

Gulf companies challenged by debt and rising interest rates
(Arab News - 23/04/2018)

There has been an uptick in recent months in heavily-borrowed companies in the Gulf seeking to restructure their debts with lenders. Although the pressure on companies is not comparable to levels witnessed in the region following the 2008 global

DIFC’s FinTech Hive expands accelerator programme
(The National - 23/04/2018)

The Dubai International Financial Centre’s FinTech hive is expanding its accelerator programme for start-ups to include insurance, Islamic finance and regulatory technological services.<br/><br/> “As the UAE continues to move towards an innovation and

Smart Cities to boost Oman’s IT market
(Times of Oman - 23/04/2018)

Smart Cities investment is boosting Oman’s IT market to a record-high of OMR122 million by 2019, industry experts announced on Sunday ahead of Comex Oman, running from April 23-28.<br/><br/> Supporting Oman Future Vision 2040 transformation goals, public

Arab countries finalise regional payment system
(Times of Oman - 23/04/2018)

Arab countries have finalised plans to create an independent, regional cross-border payments system after current arrangements were hit by a rise in compliance costs and downsizing by some international banks.<br/><br/> At present, many cross-border

UAE poised to benefit from China’s Belt & Road Initiative: HSBC
(Gulf News - 23/04/2018)

Businesses in the UAE should expect to be among key beneficiaries of any anticipated boost to economic activity generated by the development of China’s Belt & Road Initiative through the Middle East, said HSBC UAE CEO Abdul Fattah Sharaf at a conference

DED Dubai and Free Zones council in pact to facilitate business for free zone entities
(Gulf News - 23/04/2018)

The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the Dubai Free Zones (DFZ) Council to facilitate business operations for free zone based companies.<br/><br/> The collaboration is driven by the

PCFC to implement 3 major initiatives to boost economic growth
(Media Office Dubai - 23/04/2018)

Ports, Customs and Free Zone Corporation (PCFC) developed an integrated work plan to help in the implementation of its initiatives in support of economic and business activity in Dubai.<br/><br/> In the meeting of Sheikh Mohammed bin Rashid, UAE's Vice

90,000 registered businesses to submit tax returns: FTA
(The Gulf Today - 23/04/2018)

The Federal Tax Authority, FTA, has revealed that approximately 90,000 businesses registered for Value Added Tax, VAT, are required to submit their tax returns and pay their taxes no later than 29th April 2018.<br/><br/> Over 85,000 of these companies

Tourism contributes Dhs7 billion to Sharjah’s GDP
(The Gulf Today - 23/04/2018)

Khalid Jasim Al Midfa, Chairman of the Sharjah Commerce and Tourism Development Authority, noted that the tourism sector in Sharjah has contributed over Dhs7 billion, or 8.5 per cent, to the emirate’s total Gross domestic product (GDP) of Dhs83

Abu Dhabi's $1.2bn Reem Mall on track for 2020 opening
(Trade Arabia - 23/04/2018)

Al Farwaniya Property Developments, the developer behind Reem Mall – Abu Dhabi’s latest retail, leisure and entertainment destination, said work is progressing well on its ambitious $1.2-billion project.<br/><br/> The news comes after a $457-million

Expedited system to help trigger business ‘boom’ in the country
(Arab Times - 23/04/2018)

Kuwait has introduced a spate of measures to ensure a fair and conducive business environment that allows transactions to be completed in a timely manner, a pair of policymakers said on Sunday. The expedited system has resulted in timely business

Corporate governance vital in fostering competitiveness
(Saudi Gazette - 22/04/2018)

Over 300 leaders of government, global and local organizations will assemble at the upcoming ‘Governance in Focus: Boosting Competitiveness in a New Business Paradigm’ Forum to be held on April 25 at King Abdullah Petroleum Studies and Research Centre in

Dubai economic growth slows in 2017
(Arab News - 22/04/2018)

Dubai’s economy registered slower growth in 2017, according to official figures, coming in below the government’s official forecast. The emirate’s GDP grew 2.6 percent to 389 billion dirhams (SR381 billion) in 2017, according to data released on Saturday

Sharjah’s Arada targets Dh2bn of sales by 2019 as it plans Dubai debut
(The National - 22/04/2018)

Arada, the Sharjah-based real estate developer backed by the son of Saudi Prince Alwaleed bin Talal, is targeting Dh2 billion of revenues by next April, as it progresses unit sales on two schemes in Sharjah and ramps up plans to expand in Dubai, Saudi

QFC hosts tax event to update its firms on new rules
(Gulf Times - 22/04/2018)

The Qatar Financial Centre (QFC) recently held an event to update its firms on the new rules being introduced globally to automatically exchange financial accounts information between countries.<br/><br/> During the event, firms were presented with the

Workshop on financial planning held
(Times of Oman - 22/04/2018)

The Public Establishment for Industrial Estates (PEIE), in cooperation with Muscat Securities Market (MSM), organised recently an awareness workshop on financial planning as part of MSM’s initiative under the theme of 'How Many Riyals' aimed at promoting

Panasonic bullish on Middle East growth
(Times of Oman - 22/04/2018)

Electronics giant Panasonic announced that it would take steps to deepen its reach in the Middle East, as the company celebrated 10 years of its existence.<br/><br/> The corporation’s executives said that they were optimistic about further growth in the

Oman set to see balanced budgets from 2023
(Oman Daily Observer - 22/04/2018)

With rising oil prices helping whittle down a debt burden presently equal to as much as 50 per cent of GDP, the Sultanate will likely see balanced budgets from 2023 onwards, according to an economist of the State General Reserve Fund (SGRF), a sovereign

Dubai Land Department supports the emirate's economic diversification strategy
(Media Office Dubai - 22/04/2018)

Dubai Land Department (DLD) has announced a number of new initiatives that aim to support the emirate’s economic diversification strategy by establishing Dubai’s real estate sector as the world’s leading property destination. The initiatives will see DLD

Abu Dhabi takes part in Berlin Energy Transition Dialogue 2018
(The Gulf Today - 22/04/2018)

Abu Dhabi Department of Energy (DoE), took part in the 4th edition of Berlin Energy Transition Dialogue 2018, BETD, organised by the German government in association with International Renewable Energy Alliance, REN Alliance, from April 17th to 18th in

UAE and Luxembourg discuss trade cooperation
(The Gulf Today - 22/04/2018)

Sultan Bin Saeed Al Mansouri, Minister of Economy, met on Saturday with Etienne Schneider, Deputy Prime Minister and Minister of the Economy of Luxembourg.<br/><br/> They discussed bilateral relations and ways to enhance cooperation and partnership in

GCC hospitality project value tops $147bn in March
(Trade Arabia - 22/04/2018)

The total value of the active hospitality and tourism projects in the GCC region is worth more than $147 billion in March. Of the total 1,156 projects, more than half of them are hotel developments, according to a report.<br/><br/> The total value of the

Oman plans to build undersea gas pipeline project
(Trade Arabia - 22/04/2018)

Oman is planning to invite bids for the construction of an undersea natural gas pipeline between Sohar and its neighbour Iran next month, said a report citing the sultanate’s oil minister.<br/><br/> Mohammed Bin Hamad Al Rumhi told Thomson Reuters