2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February March April May
ECA addresses ‘concept of sustainability in smart cities’
(Saudi Gazette - 21/05/2018)

Under the aegis of the Minister of Housing Majed A. Al-Hogail, the Economic Cities Authority (ECA) participated in the Sustainable Housing Forum recently at the King Abdullah Petroleum Studies and Research Center here. The forum was attended by Prince

Oman is Kazakhstan's key oil and gas partner
(Times of Oman - 21/05/2018)

Oman is one of Kazakhstan's major partners in the oil and gas sector, according to the Central Asian nation's ambassador to Oman.<br/><br/> Speaking exclusively to the Times of Oman, Ambassador Yerzhan Mukash praised the Sultanate's long-standing

Real estate prices remain stable in Q1, 2018
(The Peninsula - 21/05/2018)

Qatar’s real estate prices have remained almost stable in the first-quarter (Q1, 2018) of this year compared to the previous quarter (October-December 2017), official data show.<br/><br/> The Real Estate Price Index issued by Qatar Central Bank (QCB) for

LuLu to grant Dh32 million bonus to workers
(Gulf News - 21/05/2018)

Another private company based in the UAE is giving away staff bonuses and this time more than 40,000 employees across the country and other markets will benefit.<br/><br/> Retail tycoon Yusuff Ali MA, chariman and managing director of LuLu, confirmed on

New business incubator for entrepreneurial creativity
(Gulf News - 21/05/2018)

Dubai SME, the agency of the Department of Economic Development in Dubai, opened ‘Re: Urban Studio’ business incubator at Dubai Design District (d3) to give a boost to the small- and medium-enterprises sector.<br/><br/> Sami Al Qamzi, Director General of

Rising debts and higher cost of funds could pose challenges to GCC
(Gulf News - 21/05/2018)

While public debt levels remain at manageable levels for most GCC countries, the rapid build-up in debt levels combined with a rising cost of funds, changes in credit global conditions and exchange rate dynamics could pose future financing risks for some

Oman to pull in $50bn in tourism investment by 2040
(Oman Daily Observer - 21/05/2018)

Investment in Oman’s tourism and hospitality is projected at around $50 billion over the next two decades through to 2040, underscoring the increasingly prominent role that the sector is anticipated to play in driving the nation’s long-term economic

UAE, S.Korea to promote automotive technology
(The Gulf Today - 21/05/2018)

Abdullah Sultan Al Shamsi, Under-Secretary at the Ministry of Economy and Chairman of the Executive Global Innovation Team, and Kim Yungray, Director-General of Commercial Policies at the Ministry of Commerce and Industry of South Korea, discussed

UAE, UK commodity trade reaches Dhs12.22b
(The Gulf Today - 21/05/2018)

Commodity trade between the UAE and the UK reached Dhs12.22 billion in the first quarter of this year, down by 22.6 per cent from the corresponding period last year in which the commodity trade between the two countries stood at Dhs15.78

KPMG in Bahrain launches app for VAT readiness
(Trade Arabia - 21/05/2018)

KPMG in Bahrain has launched a mobile application ‘KPMG VAT Toolkit’ to assist businesses in the Kingdom understand value-added tax (VAT) and evaluate its impact on the way business is conducted and supported.<br/><br/> VAT is expected to be introduced

Abu Dhabi banks’ net income tops $2bn during Q1
(Trade Arabia - 21/05/2018)

The net income of Abu Dhabi-based commercial and Islamic banks amounted to around Dh7.9 billion ($2.15 billion) during the first quarter (Q1) of the year, up 2.8 per cent over the corresponding period of 2017, a media report said.<br/><br/> Meanwhile,

UAE agrees 10-year visa for investors, professionals
(Trade Arabia - 21/05/2018)

The United Arab Emirates has adopted a new system of entry visas for international investors and professional talents providing them with a long-term visa for up to 10 years, a media report said.<br/><br/> "The UAE will remain a global incubator for

Saudi Cement, GE Power sign deal to boost power output & efficiency
(Saudi Gazette - 20/05/2018)

Saudi Cement has signed an agreement with GE Power for the upgrade of three GE 6B gas turbines at its Hofuf plant to increase power output and efficiency.<br/><br/> The deal represents the first time that GE Power’s Advanced Gas Path (AGP) solution will

Private deposits in Oman's banks rise
(Times of Oman - 20/05/2018)

Private deposits at commercial banks in the Sultanate at the end of February 2018 rose 0.85 per cent to OMR12.55 billion, compared to OMR12.45 billion in the corresponding period last year, according to a monthly bulletin published by the Central Bank of

Qatar’s new real estate law to boost property market
(The Peninsula - 20/05/2018)

Qatar’s new draft law for foreign real estate ownership is expected to boost sales for residential and commercial properties in Qatar, as well as increase foreign direct investment.<br/><br/> Another knock on effect may be an increase in foreign

Rooftop PV to cover up to 30pc of homes in Oman
(Oman Daily Observer - 20/05/2018)

Marking a new phase in the mass-scale installation of solar photovoltaic (PV) systems atop residential buildings in the Sultanate, the Authority for Electricity Regulation Oman (AER) has invited Expressions from Interest (EoI) from qualified developers

GCC debt issuance weak Q1 at $12bn
(Trade Arabia - 20/05/2018)

While the GCC sovereign issuance was quiet in the first quarter (1Q) of the year at $12 billion, still-favourable borrowing costs, high oil prices, and continued foreign investor interest are expected to keep market access relatively easy this year, a

UAE sets conditions for VAT refund on new residences
(Trade Arabia - 20/05/2018)

The UAE's Federal Tax Authority (FTA) has set three requirements and procedures for Emirati nationals to refund Value Added Tax (VAT) incurred on the new residences. <br/><br/> The conditions state that in order to refund VAT, applicants must be UAE

Dubai starts work on $107m Shindaga bridge project
(Trade Arabia - 20/05/2018)

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, accompanied by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has launched the construction of the Dh394 million ($107

Bahrain slow to implement reforms despite debt woes
(Gulf Times - 18/05/2018)

Greylock Capital Management LLC, a hedge fund that holds the distressed bonds of Mozambique and Venezuela, says Bahrain is its next potential target. The cash-strapped Gulf nation has been slow to implement reforms compared with its richer neighbours,

Qatar-Canada trade reaches QR633.8m in 2017
(The Peninsula - 18/05/2018)

H E Sheikh Ahmed bin Jassem Al Thani, Minister of Economy and Commerce, met with the visiting Minister of Immigration, Refugees and Canadian Citizenship, Ahmed Hussen, and his accompanying delegation at his office in Doha yesterday.<br/><br/> During the

Dubai issues 1,848 new trade licenses in April
(Trade Arabia - 18/05/2018)

The Dubai Department of Economic Development (DED) issued 1,848 new business licenses during April 2018 as the emirate remained a destination of choice for investment in diverse business sectors.<br/><br/> The 'Business Map' digital platform of DED saw

Dubai trade sector to see robust demand: study
(Trade Arabia - 18/05/2018)

Dubai’s trade sector is forecast to record robust demand in 2018, supported by key factors such as price competition, accessibility and global demand, according to a new survey from the Dubai Chamber of Commerce and Industry.<br/><br/> The results of the

Dow Innovation Center Inaugurated at KAUST
(Saudi Gazette - 17/05/2018)

The newly constructed Dow Innovation Center at King Abdullah University of Science and Technology (KAUST) was inaugurated Tuesday in a ceremony attended by Dow executive leadership, the KAUST Board of Trustees, university leadership, and special invited

Saudi rating to be judged on ‘reform progress’ not oil price warns Moody’s
(Arab News - 17/05/2018)

Saudi Arabia’s future sovereign credit rating will be judged on the success of its reform program rather than its oil revenues, rating agency Moody’s has told Arab News.<br/><br/> The global credit rating agency’s Managing Director of Global Sovereign