MENA Economic growth

19

Sep 16

MENA Economic Growth projected in upward trend

As per the recent study done by Focus Economics - a leading economic analysis and forecast team, Economic Growth of...
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31

Jul 16

Venture capitalists come to the rescue of GCC SMEs

Venture capital industry is fast emerging as a key source of funding for the small and medium size enterprises (SMEs)...
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30

Jul 16

Oil prices may take a blow yet again

Oil may re-start its southwards journey soon. Crude may hit sub-$40 (Dh147) per barrel as more supplies from US shale...
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30

Jul 16

Dubai pulls back, Abu Dhabi likely not far behind

Last week the Dubai Financial Market General Index (DFMGI) dropped by 24.94 or 0.70 per cent to end at 3,519.27....
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26

May 16

Dubai retained its position at 2nd among most important retail market in the world

Dubai is always keeping the position at top by attracting the rest of the world for International Tourism and shopping....
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11

May 16

Record profit for Emirates Airlines

Emirates Airlines the biggest airline group in the region has reported their are highest ever annual profit of Dh. 7.1...
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9

May 16

The economic relationship between UAE and Latvia strengthened

The economic relationship between the two countries will be much stronger after both countries have signed an agreement to strengthen...
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4

May 16

New app launched for ENBD transactions to save time

The biggest bank in the Emirate, ENBD is set to launch a new banking app which will reduce the waiting...
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3

May 16

DMCC free zone post 18% growth rate in 2015

One of the fastest growing free zone in Dubai, DMCC, posted an annual growth rate of 18% in registering new...
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2

May 16

Medical Insurance for all the Residents in Dubai

All the residents in Dubai must have medical insurance coverage on or before June 30, 2016 as per the Dubai...
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28

Apr 16

The govt. announced big projects in Umm Al Quwain

The Northern Emirate of UAE Umm Al Quwain is expecting some big projects as the government and the real estate...
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25

Apr 16

Dubai introduced ‘Future Endowment Fund’ to structure growth

As part of the development of the Emirate, the ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum...
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24

Apr 16

New companies in JAFZA has increased by 8%

One of the biggest free zone in the region JAFZA has declared that the number of new companies in the...
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21

Apr 16

The international audit conference 2018 will be held in Dubai

The internal Auditors Association in UAE confirmed that the international audit conference in the year 2018 will be held at...
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20

Apr 16

The UAE became the first Arab nation to approve WTO’s trade deal

The UAE became the first Middle East nation to approve World Trade Organization’s trade deal. Mr. Obaid Salem Saeed Al...
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19

Apr 16

Govt. agency PCFC undertakes millions of transactions annually

As per the recent reports, the Dubai Government agency PCFC undertakes 19 million business transactions annually. According to the Chairman...
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18

Apr 16

OPEC meeting in Doha end without accord

An agreement between Opec and non- Opec countries to freeze oil output fell apart on Sunday after Saudi Arabia demanded...
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17

Apr 16

Kingdom of Saudi Arabia to declare vital plan to minimize countries’ reliance on oil

As per recent reports the Kingdom of Saudi Arabia will declare a comprehensive plan to prepare the kingdom for an...
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16

Apr 16

UAE among top global regional centre for foreign direct investment

A recent study on FDI hints that countries like  UAE, Iran, Qatar, Saudi Arabia and Tunisia will remain as the...
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13

Apr 16

UAE and UK agreed to avoid double taxation

UAE has reached an agreement on the avoidance of double taxation with the United Kingdom. The terms of the agreement...
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12

Apr 16

Free zones in Dubai represent over $500b trade

The free zones in Dubai represent business of more than $500 billion (Dh1.83 trillion) trade, as per the senior executives...
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11

Apr 16

Dubai expects more medical tourists by 2020 with new website

Dubai has launched the world’s first medical tourism portal with the aim of increasing the number of international medical tourists...
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10

Apr 16

Emaar properties plans another biggest tower in Dubai

Emaar properties, the builder of the tallest tower in the world is planning for another tallest tower in the Emirate....
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9

Apr 16

UAE Government to introduce new visa system for the residents

The General Directorate of Residency and Foreigners Affairs (GDRFA) in UAE will introduce a new system for all kind of...
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7

Apr 16

UAE cities ranked top for the GCC real estate investors

The major cities in the country such as Dubai, Abu Dhabi and Sharjah ranked top destinations for Gulf individuals for...
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5

Apr 16

The advantage of introducing VAT

As the oil price continue to stay around $ 40 per barrel and the chances of the oil price going...
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4

Apr 16

UAE economy has not affected by the fall in oil prices

As the oil prices are going down, the oil driven countries are facing a real challenge to withstand in the...
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4

Apr 16

Licensing fee exemptions for Dubai SMEs 

As per the new agreement between Dubai Creative Clusters Authority (DCAA) and Dubai SME, the Small and medium-sized enterprises (SMEs)...
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3

Apr 16

PM Modi’s visit expects more tie ups between India and Saudi

Indian Prime Minister, Narendra Modi’s visit to Saudi Arabia will significantly boost the economic relationship between the two countries.  The...
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2

Apr 16

The Economy of Dubai stands strong

The economy of Dubai stands strong and showed a growth of around four percent in the last year. It is...
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31

Mar 16

Companies must reveal sales and revenues while renewing trade license  

The Abu Dhabi Economic Department is insisting all the commercial companies and establishments in the Emirate to reveal their data on...
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30

Mar 16

Non oil trade in Dubai posted Dh 1.3 Trillion

The non oil foreign trade business of Dubai posted Dh 1.283 trillion for the year 2015, without being affected by...
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29

Mar 16

SMEs will get relief from UAE banks for repayment

The Banks Federation of the UAE declared that they will hold the legal action against SME companies for three months...
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28

Mar 16

Banks in GCC  showed 9.1% increment in loan

The net earnings of GCC banks showed an increasing trend of 4.7 per cent to $5.3 billion in the last...
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27

Mar 16

Big budget developments for Dubai Silicon Oasis

Dubai Silicon Oasis Authority (DSOA), a premier innovation hub for high-tech industries in the gulf region, has made an investment...
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27

Mar 16

Strong  strategies help UAE to maintain better growth: IMF

The economy of the United Arab Emirates sustains better growth due to strong financial strategies and better economic methodology, as...
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26

Mar 16

RAKIA welcomes media firms

The Ras Al Khaimah Investment Authority (RAKIA) has initiated to welcome media firms and media experts to start their media...
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24

Mar 16

Doha Metro, a big project for Drake and Scull International

Drake and Scull International has brought up $93 Million agreement to initiate for the first stage of the mega project...
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24

Mar 16

Huge development plans for Al Maktoum Airport

The new airport in Dubai will undergo for a huge developments for the passenger terminal as the Aviation Authority has...
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23

Mar 16

Saudi to implement new policies to improve the efficiency of the economy

Saudi’s economic policy making body has approved some new policies to improve the competitive edge of the economy and which...
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23

Mar 16

The economy of GCC can match the size of Canadian and Russian economies by 2030

If the GCC economy can manage to grow yearly 3.2% in the coming fifteen years, by 2030 the economy can...
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22

Mar 16

Sixteen federal laws for banking sector is on progress to strengthen the Economy

With the aim of strengthening the Economy, the Ministry of Finance preparing new federal laws for the financial and banking...
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22

Mar 16

Dollar getting stronger as gold prices falling

The gold price will stable soon as dollar getting stronger after a posting an increasing trend in the early stages...
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21

Mar 16

3.3% increase in Consumer Price in the Capital of UAE

The recent report shows that the Consumer Prices have increased by 3.3 per cent in the beginning of the year...
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20

Mar 16

Inflation up in February month – Abudhabi

According to the statistics centre Abudhabi, the inflation is reported as 3.4% a year in the month of February 2016....
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17

Mar 16

Meeting to freeze the oil output by Opec & Non Opec countries

A meeting is scheduled for mid of April in Doha, Qatar, to finalize a plan to freeze the oil output...
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13

Mar 16

DP World signs construction deals for Jebel Ali’s T4 project

DP World declared that it has signed two major contracts for construction work at its new Container Terminal 4 on...
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13

Mar 16

Dubai Expo 2020 chooses architectural firms to design theme pavilions

Three internationally renowned architectural firms have won a global architectural competition to design the theme pavilions for Dubai Expo 2020....
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13

Mar 16

New funds for SMEs in Qatar

Qatar’s government has allocated more than QR 3 billion ($825m) for small and medium size enterprises, a high level government...
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12

Mar 16

Qatar Airways set to launch world’s longest flight

Qatar Airways is set to overtake its Gulf rival Emirates for the longest non-stop commercial flight in the world when...
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12

Mar 16

Nakheel signed a contract with Al Akaria, Saudi for advising in multiple projects in Saudi

Nakheel will provide technical support to Saudi developer Al Akaria for new, mixed-use projects in Saudi Arbia. The agreement related...
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12

Mar 16

UAE the best for career oriented Woman

According to a recent survey findings, the UAE and Qatar ranked best countries by expatriates for career oriented woman. UAE...
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11

Mar 16

Swiss private bank Falcon sets up operations in the DIFC

Falcon Private Bank, the 50-year-old Swiss business owned by Abu Dhabi’s Aabar Investments, has opened an operation in the Dubai...
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11

Mar 16

$100m fund to support women entrepreneurs – Bahrain

Bahrain has established a US$100mn fund to boost women-led businesses in the kingdom, it was announced on Tuesday, median revealed...
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11

Mar 16

World’s first Food & Fuel Facility in Mazdar City, Abudhabi

The world's first research facility to grow both food and fuel, using desert lands irrigated by seawater, has been started....
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11

Mar 16

Oil for Food Scheme – a new era opening

India is in talks with some Gulf nations to buy oil to fill its strategic reserves and sell food in...
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9

Mar 16

Al Futtaim to add another Ikea store in Dubai within two years

Al Futtaim Group, the Ikea operator in the region, plans to open another store in Dubai in the next two...
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9

Mar 16

Riyadh Metro on track despite Saudi spending cuts

The $23 billion Riyadh Metro will be completed on schedule in 2019 and its budget is ring-fenced, a senior official...
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9

Mar 16

UAE banks devise plan to help struggling SMEs

The UAE banks have agreed a plan to help small-and medium-sized businesses (SMEs) struggling with debt, including suspending payments and...
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9

Mar 16

Mideast airlines soar high as traffic rises 10.9pc

Middle East airlines had the strongest year-over-year demand growth in January at 10.9 per cent, helped by ongoing network and...
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8

Mar 16

Penspen wins Abu Dhabi consultancy contract

Penspen, a leading global provider of engineering and management services to the energy industry, has been appointed as project management...
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8

Mar 16

Bahrain’s Invest corp turns focus on European real estate

Bahrain-based Investcorp, which has invested $1.5 billion in real estate in the United States in the past year, is now...
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8

Mar 16

NMC Healthcare opens new 500-bed capacity hospital in Abu Dhabi’s Khalifa City

The suburbs of Abu Dhabi are the latest areas for expansion for healthcare groups as little room remains for growth...
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8

Mar 16

Is this the future of rail travel in the Gulf

German tech giant Siemens has unveiled a concept for a high-speed capacity intercity train, tailored for the Gulf region. The...
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8

Mar 16

UAE and Saudi Arabia have world’s youngest successful entrepreneurs

The UAE and Saudi Arabia have the youngest successful entrepreneurs in the world, according to a survey by HSBC’s private...
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7

Mar 16

Network International in talks with Iranian banks

UAE-based Network International, the largest payments processor in the Middle East and Africa, could begin working with some of Iran's...
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7

Mar 16

Emirates, Qatar Airways face new rivalry with rapidly growing Turkish Airlines

The president of Boeing believes Turkish Airlines will emerge as a rival to Emirates airline. Competition between the pair is...
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7

Mar 16

New Abu Dhabi property laws seen cutting oversupply risk

Real estate experts are expecting new property laws in Abu Dhabi to drive growth and have called for a measured...
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7

Mar 16

UAE targets 5pc FDI contribution to GDP

UAE aims to increase the contribution of foreign direct investment (FDI) to five per cent of the country’s GDP over...
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6

Mar 16

Drone sales surge at Umex as instability drives demand

Sales of unmanned aerial vehicles (UAV) and associated equipment are set to rise as instability in the Mena region drives...
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6

Mar 16

Emirates NBD more upbeat than most on prospects amid slowdown

Emirates NBD is expecting loan growth to slow to the “mid single digits” this year from 10 per cent in...
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6

Mar 16

FGB forecasts modest growth in 2016

FGB, the Abu Dhabi-based lender, is forecasting “low single- digit” profit growth in 2016. The chief executive Andre Sayegh said...
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6

Mar 16

Emirates NBD plan more success out of Africa

Emboldened by the bank’s success in Egypt, the chief executive of Emirates NBD is eyeing further expansion into Africa. Shayne Nelson,...
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6

Mar 16

SME lending growth high on Emirates NBD’s agenda

While many UAE banks are reducing their exposure to small and medium-sized business debt, Emirates NBD is looking to take...
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6

Mar 16

UAE, Russia and other oil nations on review for Moody’s credit downgrade:

The credit ratings of more than 10 oil producing nations in the developing world were placed on review for a...
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6

Mar 16

Arabian Gulf states’ non-oil sectors remain tied to fortunes of oil

Non-oil growth in the GCC will fall to its lowest pace this year for more than a decade, a new...
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5

Mar 16

Saudi Arabia’s labour force grows at slowest pace since 1999

 Saudi Arabia's labour force grew by 46,000 during 2015, its slowest pace since records began in 1999, according to a...
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5

Mar 16

Yemen food shipments hit as banks cut credit

Banks have cut credit lines for traders shipping food to war-torn Yemen, where ports have been battlegrounds and the financial...
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5

Mar 16

Dubai hotel rates continue to decline in January after 2015 drop

Achieved average room rates at four- and five-star Dubai hotels continued to decline into 2016, recording a 9.3 percent year-on-year...
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5

Mar 16

NBAD chief keen to help fill $260bn SME funding gap in Middle East

National Bank of Abu Dhabi is keen to help fill a US$260 billion funding gap for small and medium-sized enterprises...
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5

Mar 16

UAE private sector growth rebounds in February after slowdown

Growth of the UAE’s non-oil private sector gathered speed in February, having slowed in four of the previous five months,...
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4

Mar 16

Saudi firm says to invest $2bn, create thousands of new jobs

Saudi firm Abdul Latif Jameel on Thursday announced plans to invest close to $2 billion in the Gulf kingdom over...
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4

Mar 16

MENA sovereigns forecast to borrow $134bn in 2016

Standard & Poor's Ratings Services projects that the 13 Middle East and Northern African (MENA) sovereigns that it rates will...
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3

Mar 16

Debt ‘curse’ raises worries in wealthy Qatar

Credit cards on the limit, huge bank borrowings and a struggle to repay loans: these are the personal debt problems...
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3

Mar 16

Pricing Gulf

Gulf secondary bond markets have been particularly volatile since the start of the year, with the yields on perpetual bonds...
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3

Mar 16

Oil’s squeeze spreads from Gulf States to banks

Low oil prices are forcing Gulf states to borrow to prop up their economies and are now taking their toll...
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2

Mar 16

Global ultra-wealthy numbers slip 3pc in 2015

The number of ultra-high-net-worth individuals (UHNWIs) - those with $30 million or more in net assets - declined by 3...
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2

Mar 16

NBAD counting on beefed-up retail operation and new strategy to pay off

National Bank of Abu Dhabi said it expects the investment it has made over the past two years into various...
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2

Mar 16

Iran needs $1.5trn investment to double economy

Iran’s 2025 strategic economic plan aimed at doubling the economy from the current $415 billion in the next decade necessitates...
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2

Mar 16

UAE infrastructure being built for Expo 2020 to be permanent, says Minister of State

The UAE will ensure the infra­structure it builds for Expo 2020 are permanent, according to the Minister of State Reem...
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2

Mar 16

UAE dollar supply drying up amid oil price weakness, says NBAD chief executive

National Bank of Abu Dhabi, the UAE’ largest bank, said the supply of dollars in the country is drying up...
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2

Mar 16

Abu Dhabi targets 8 per cent non-oil growth over next 20 years

Abu Dhabi is targeting growing its non-oil GDP by up to 8 per cent over the next 20 years by...
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1

Mar 16

Dubai plans new $8.16bn Wholesale City project

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, on Tuesday launched Dubai Wholesale...
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1

Mar 16

Souq.com raises $275m from investors

Middle Eastern online retailer Souq.com has raised $275 million from a funding round with investors to support its future growth,...
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1

Mar 16

Mideast homeland security market set to reach $34bn

The Middle East’s homeland security market is set to grow from $17 billion to $34 billion by 2020, at three...
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1

Mar 16

GCC contracts to stay resilient despite oil slump

The level of contract awards in the GCC projects market will fall slightly to $167 billion in 2016 compared to...
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1

Mar 16

Banks in the United Arab Emirates are cutting credit lines to small- and medium-sized businesses (SMEs)

Banks in the United Arab Emirates are cutting credit lines to small- and medium-sized businesses (SMEs) after a spate of...
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29

Feb 16

Oil price to average $40 this year: poll:

Oil prices will average just over $40 a barrel this year due to subdued demand and the likelihood a tentative...
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29

Feb 16

Qatar trade surplus drops 58.1% in a year:

Qatar has reported a 58.1 percent drop in the foreign trade surplus – the difference between total exports and imports...
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29

Feb 16

UAE aluminium giant sees revenues slip by $299m in 2015

Emirates Global Aluminium, jointly owned by Mubadala Development Company and the Investment Corporation of Dubai, has announced that sales revenues...
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29

Feb 16

Oman port targets bigger Iran shipping ties as market opens up

Oman aims to expand shipping and trade links with Iran and get ahead of rivals after the lifting of international...
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29

Feb 16

Dubai named top global choice for corporate expansion

Dubai has been named as the number one expansion target by nearly a quarter of companies based in Asia, Europe...
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28

Feb 16

Dubai Land Dept chief warns landlords against arbitrary rent hikes

The director-general of the Dubai Land Department has urged tenants to challenge landlords over arbitrary rent increases, insisting they should...
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28

Feb 16

Abu Dhabi passenger numbers up 14pc in Jan

Abu Dhabi International Airport (AUH) witnessed over 2 million passengers pass through its facility in January, a 14.1 per cent...
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28

Feb 16

GEMS to open seven new schools in UAE this year

GEMS Education, a pioneering education company, will open seven new schools in the UAE this year, providing a variety of...
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28

Feb 16

Saudi tourism says 66 islands ready for investment

The Saudi Commission for Tourism and National Heritage has announced that 66 islands are now ready for investment. Development on...
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28

Feb 16

Saudi Arabia plans ‘affordable mortgage’ scheme

Saudi Arabia's central bank plans to launch an "affordable mortgage" programme to finance residential real estate purchases by Saudi citizens....
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27

Feb 16

UAE’s food and beverage sector bites off more than it can chew

From fast to casual to fine dining, eating out is a staple of the UAE lifestyle. But an industry expert...
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27

Feb 16

GCC seen implementing more economic reforms in era of cheap oil

A persistent weakness in oil prices has taken a toll on GCC countries last year, resulting in the likelihood of...
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27

Feb 16

Dubai apartment rental growth seen as ‘sluggish’ during Q1

Most rents across Dubai's apartments remained stable during the fourth quarter of 2015, according to a new report by real...
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27

Feb 16

DI unit eyes record extruded aluminium production

Masharie, the private equity arm of Dubai Investments (DI), has announced plans to expand its extruded aluminium production capacity by...
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24

Feb 16

Dubai Int’l opens $1.2bn Concourse D as passenger numbers soar

Dubai International, the world's number one hub for international passenger traffic, increased its capacity from 75 million to 90 million...
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24

Feb 16

Consumer tech sector ‘facing barriers to growth

Heightened data security concerns, falling demand for smartphones and tablet PCs, and stagnant growth in the Internet of Things (IoT)...
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24

Feb 16

$390bn projects under way or in pipeline in Dubai

The total value of projects under construction in Dubai is worth $53.6 billion, with a further $337.2 billion in the...
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24

Feb 16

Low pay top workplace concern among GCC employees

Concern about pay is the biggest cause of workplace stress among employees across the GCC, according to a new study...
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23

Feb 16

Kuwait said to spend $1.2bn on 2015-16 utility deals

Electricity and water projects worth $1.2bn (KWD368m) have been planned in Kuwait. This amount has been allocated under the country's...
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23

Feb 16

Bahrain cbank chief vows to keep currency peg

Bahrain is committed to the peg of its dinar currency against the US dollar, central bank governor Rasheed Mohammed Al-Maraj...
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23

Feb 16

Saudi inflation jumps to new high on gasoline price hike

Saudi Arabia's inflation rate jumped to 4.3 percent in January, its highest level since September 2012 following a hike in...
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23

Feb 16

Dubai best city for expats in Middle East: survey

For the fourth time in a row, Dubai has been ranked as the top Middle Eastern city for expatriate living...
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22

Feb 16

Sharjah approves gov’t budget of $5.52bn for 2016

Sharjah has approved its government budget for 2016 which includes a two percent rise in spending to AED20.3 billion ($5.52...
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22

Feb 16

Indian expats in the UAE can now get health insurance coverage for families back home

Indian expatriates in the UAE can now arrange health insurance for their families back home. Dubai’s Aster DM Healthcare and...
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22

Feb 16

IMF confident Gulf States can adjust to low oil price

The International Monetary Fund is confident that Gulf Cooperation Council economies can make the large fiscal adjustments they need to...
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22

Feb 16

IMF chief says GCC’s VAT plan could add 2% to GDP

The International Monetary Fund has said that introducing a value-added tax in the Gulf region, even at a low single-digit...
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21

Feb 16

Aatco opens food manufacturing plant in Jeddah

Oman-based Aatco Food Industries, a top food condiment production company, has opened a new processing plant in Jeddah, Saudi Arabia...
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21

Feb 16

Arabtec Q4 loss widens, swings to annual loss of $626m

Dubai contractor Arabtec reported a widening fourth-quarter net loss on Sunday that it blamed on tough market conditions. The firm...
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21

Feb 16

UAE Residents: Now use your Emirates ID to top up petrol yourself

UAE residents will soon be able to use their Emirates ID cards to fill up their car tanks. Abu Dhabi...
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20

Feb 16

Saudi Arabia cancels $4bn aid package for Lebanon’s security forces

Saudi Arabia said on Friday it was cancelling US$4 billion (Dh14.7bn) in aid that it had pledged to bolster Lebanon’s...
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20

Feb 16

Oil prices set to end week higher on output freeze

Oil prices slid but are set for their first weekly increase this month as talk of a co-ordinate plan by...
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20

Feb 16

UAE set to reduce petrol, diesel prices in February

The UAE will lower domestic prices for gasoline and diesel in February, the ministry of energy said on Thursday. The...
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20

Feb 16

Qatar Petroleum plans key unit sale as oil slump bites

Qatar Petroleum has chosen HSBC to advise it on the sale of its Al Shaheen Holding subsidiary, three sources with...
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20

Feb 16

Saudi charm offensive, faith in peg help markets

Saudi Arabia's financial markets barely blinked on Thursday after its debt was downgraded - a sign that a charm offensive...
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20

Feb 16

UAE debt defaults could mount and spread to indi­vidual borrowers, warns EFG Hermes

The investment bank EFG-Hermes is warning that the fallout sparked by SME debt delinquencies may spread to indi­vidual borrowers as...
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19

Feb 16

Kuwait sees budget deficit jumping by 50% in 2016-17

Kuwait's finance ministry said on Thursday that the Gulf oil exporter's 2016-17 draft budget forecasts a deficit of 12.2 billion...
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19

Feb 16

Iran says it supports decision on oil production ‘ceiling

Iran supports the decision by Opec and non-Opec oil producers to keep a “ceiling” on oil production, Iranian oil minister...
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19

Feb 16

UAE backs Opec-driven move to freeze oil production to stabilize market

The UAE Minister of Energy has thrown support behind an Opec-driven oil production freeze in order to stabilise current markets,...
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19

Feb 16

Flydubai boss expects difficult 2016 as yield pressure continues

The chief executive of flydubai expects another difficult year for the low-cost carrier as tough economic conditions put pressure on...
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19

Feb 16

Bahrain eyes mega projects worth $32bn

Bahrain will implement mega projects worth $32 billion in the coming years to boost the kingdom's economic development efforts, it...
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19

Feb 16

OECD cuts 2016 world GDP growth forecast to 3pc

Paris-based Organization for Economic Co-operation and Development (OECD), a think tank funded by wealthy countries, cut its 2016 global growth...
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17

Feb 16

Dubai’s DIFC sees total workforce grow by 11% to 19,808

Dubai International Financial Centre (DIFC) announced on Wednesday that the number of new company registrations increased by more than a...
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17

Feb 16

Dubai’s Damac offers guaranteed returns for off-plan investors

Dubai developer Damac Properties said on Wednesday it is offering a guaranteed annual return to investors on advance payments during...
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17

Feb 16

Revealed: average annual Dubai apartment rent rises to $37,500

The average annual apartment rent in Dubai across all bedroom categories rose to just under AED138, 000 ($37,572) in January,...
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17

Feb 16

Top trends for Saudi real estate market in 2016

A challenging macroeconomic environment, including low oil prices and a stronger dollar, will continue to impact Saudi Arabia’s real estate...
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17

Feb 16

GCC fuel subsidy reforms ‘not enough’

 While fuel subsidy reforms in members of the GCC will help address pressure from low oil prices on public finances,...
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17

Feb 16

Oil cuts: Iran may get special terms as it talks tough

Iran could be offered special terms to join cuts. Iran might be offered special terms as part of an oil...
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16

Feb 16

IIoT could add trillions of dollars to global economy

The optimized production processes that the Industrial Internet of Things (IIoT) heralds could add trillions of dollars to the global...
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16

Feb 16

UAE money exchangers raise sector growth worries with central bank

Money exchange houses in the United Arab Emirates are holding talks with the central bank about planned new capital requirements,...
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16

Feb 16

Etihad eyes further India growth after record traffic in 2015

Etihad Airways announced on Tuesday a 63 percent increase in full-year passenger traffic with partner Jet Airways to and from...
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16

Feb 16

Oil eases off highs after output freeze agreement

Oil prices slipped off session highs on Tuesday after four of the world's largest producers agreed to freeze output at...
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15

Feb 16

UAE lenders can now access borrowers’ credit history via their Emirates ID cards

Al Etihad Credit Bureau the nation’s debt quality watchdog has started to allow banks to dir­ectly access information about those...
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15

Feb 16

Oil extends rally on OPEC output cut hopes

Oil prices rose on Monday, extending a rally triggered last week by speculation that Opec might agree to cut production...
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15

Feb 16

Sharjah and Ajman property prices fall as Dubai developers offer cheaper homes

Sales of new homes in the Northern Emirates are likely to remain subdued in 2016 as a “bleak economic outlook...
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15

Feb 16

KPMG forecasts more pain for Dubai housing

House prices in Dubai will continue to suffer this year as cheap oil and the strong US dollar push properties beyond...
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14

Feb 16

Mentoring is key to entrepreneurial success in the MENA region, survey reveals

An average 890 percent return on investment can be achieved by investing in business mentoring in the MENA region. The...
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14

Feb 16

UAE telco du Q4 net profit falls 10%

Du, the UAE's No. 2 telecom operator, reported on Sunday a 10.1 percent fall in fourth-quarter net profit. The firm,...
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14

Feb 16

Etisalat Q4 net profit rises 2.7%

Abu Dhabi-listed Etisalat reported a 2.7 percent rise in fourth-quarter net profit .Etisalat, which directly and indirectly operates in about...
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14

Feb 16

RTA to spend $1bn on Dubai infrastructure projects

Dubai’s Roads and Transport Authority (RTA) has been allocated a Dh7.6-billion ($2.07 billion) budget for this year with the lion’s...
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14

Feb 16

Coalition will decide on Saudi troop deployment

Saudi Arabia said on Sunday that any move to deploy Saudi Special Forces into Syria will depend on a decision...
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14

Feb 16

Iran offers mining riches, but investors cautious

Iran's rich deposits of zinc, copper, gold and other minerals are tempting international investors after the lifting of Western sanctions,...
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13

Feb 16

SME lending blamed as Shuaa Capital’s losses widen in Q4

Shuaa Capital reported a significant increase in its losses for the fourth quarter, which it attributed to a poor performance...
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13

Feb 16

Gold stages comeback as equities melt down

Gold's prospects for a sustained price rally are better than they have been for years as a weaker dollar, crashing...
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13

Feb 16

DP World plans over $1bn India investment

Dubai-based global marine operator DP World said it plans to invest more than $1 billion in India over the next...
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13

Feb 16

Oil @ $50 a barrel by mid-2017

Kuwait Petroleum International (KPI) said on Saturday oil prices could reach a range of $50 to $60 a barrel by...
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11

Feb 16

Dubai ranked ‘most popular city’ for Russian property buyers

Dubai has topped a list of the ten most popular cities for prospective Russian real estate buyers, with average price...
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11

Feb 16

Damac’s 2015 net profit surges 30pc to $1.23bn

Damac Properties, a leading developer of high-end properties in the Middle East, said it has registered a net profit of...
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11

Feb 16

Toyota plans $396m spend for Turkey engines plant

Toyota Motor Corp will begin production in Turkey by year-end of a new hybrid engine model with an investment of...
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11

Feb 16

Shock slump across European industry bodes ill for 2016

Europe's top four economies suffered steeper drops in industrial output during December than any analyst had forecast, a grim sign...
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11

Feb 16

Sovereign funds’ selling could hit $700bn of European stocks:

Up to $700 billion of European stocks, including major banks, could be in the firing line as the slump in...
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11

Feb 16

UAE lawyer urges help for debtors in jail

An Emirati legal expert has called for banks to conduct tougher security checks on customers to ensure they can afford...
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10

Feb 16

Saudi Arabian builders delay payments amid state spending clampdown

Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on...
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10

Feb 16

What if oil stays below $50 until 2020

What if oil prices remain stuck in a $25 to $50 per barrel range for the next 5 years? What...
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10

Feb 16

Oman plans to borrow between $5 billion and $10 billion from abroad

Oman plans to borrow between $5 billion and $10 billion from abroad to help finance a budget deficit caused by low...
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10

Feb 16

New risk management, governance rules for UAE banks by year-end

The UAE plans to release new risk management and corporate governance rules for banks by the end of this year,...
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10

Feb 16

Emaar Properties Q4 profit near-flat after Address hotel fire write-down

Dubai's Emaar Properties, builder of the world's tallest tower, reported near-flat quarterly net profit on Wednesday after taking a write-down...
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10

Feb 16

Budget carrier flydubai 2015 net profit slumps 60%

Budget carrier flydubai posted a 60 percent drop in 2015 net profit, as tough market conditions, the airline's fuel hedging...
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9

Feb 16

IEA sees global oil glut worsening

The world will store unwanted oil for most of 2016 as declines in US output take time and OPEC is unlikely...
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9

Feb 16

UAE likely to ratify federal debt law this year

The UAE is likely to ratify a law by the end of this year that will allow the federal government to...
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9

Feb 16

UAE plans to trim ministries, outsource most gov’t services – Sheikh Mohammed

The UAE plans to outsource most government tasks to the private sector and cut the number of ministries, Prime Minister Sheikh...
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9

Feb 16

Dubai to press ahead with world’s largest mall

Dubai has said that it will press ahead with plans to build the world's largest shopping mall despite an economic slowdown...
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8

Feb 16

Saudi’s Sipchem pays $100m to raise stakes in two units

Saudi International Petrochemical Co (Sipchem) said on Monday it has paid 375.3 million riyals ($100.1 million) to raise its stake...
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8

Feb 16

As Big Oil shrinks, boards plot paths out of crisis

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted...
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8

Feb 16

Saudi power projects will need $133bn investment over 10 years

Saudi Arabia will need investment of 500 billion riyals ($133.3 billion) in electricity projects over the next ten years to...
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8

Feb 16

Rotana plans nine new hotels in UAE

Leading hotel management group Rotana has revealed plans to further expand its presence in the UAE with the opening of...
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8

Feb 16

Majid Al Futtaim to invest $3.7bn building two malls in Riyadh

Majid Al Futtaim will invest 14 billion riyals ($3.7 billion) building two malls in Saudi Arabia's capital Riyadh, the Dubai-based...
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8

Feb 16

Why residential rents will fall this year… and 2017

Residential rents will fall in Dubai in 2016 and 2017 if “all housing units are delivered on time.  Rental performance...
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8

Feb 16

Dubai house prices plummet 11% in 2015, rents hold up

Average Dubai property prices fell by 11 percent last year while average rental rates saw only a slight dip of...
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7

Feb 16

Lulu to open seven more hypermarkets in Oman

Middle East's retail major Lulu Group has announced plans to open seven more hypermarkets in Oman in the next two...
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7

Feb 16

Air Arabia says Q4 net profit falls 13%

Budget carrier Air Arabia, the UAE’s only publicly-listed airline, reported a 13 percent drop in fourth-quarter net profit.
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7

Feb 16

Dubai Aerospace sees 30-35 aircraft deals in 2016

Dubai Aerospace Enterprise (DAE), one of the few Gulf aircraft leasing firms, expects to add 30-35 planes to its current...
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7

Feb 16

UAE e-commerce to quadruple to $10bn by 2018

GCC banks are aiming to expand digital and mobile customer offerings, even as the UAE’s e-commerce market is set to...
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7

Feb 16

Why the UAE government is struggling to reform insolvency law

New insolvency legislation in the UAE could be delayed because of cultural resistance, lack of information on company accounts and...
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7

Feb 16

Qatar to award $22bn World Cup 2022 contracts

Qatar is set to award more than $22 billion worth of new contracts in 2016 as it maintains its spending...
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7

Feb 16

Saudi may scrap local partner provision for foreign firms

A high-profile committee is reconsidering a policy that requires foreign companies wishing to set up shop in Saudi Arabia to...
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6

Feb 16

Financial situation of Middleast economies

The World Bank said Saudi Arabia's public debt would reach 20 per cent of GDP in 2017, 10 times its level...
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6

Feb 16

How Kuwait is oiling the wheels of national reform

The wheels of momentum have finally begun to turn in Kuwait. As the country stares down its worst balance sheet in...
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6

Feb 16

50% of Dubai property projects ‘fail to hit 2015 handover

Around half of Dubai residential projects originally scheduled for completion in 2015 have been delayed and rescheduled for handover during 2016 and...
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5

Feb 16

UAE private sector growth slumps to near 4-year low in January

The start of 2016 signalled another loss of growth momentum at UAE non-oil private sector firms, with business conditions improving at the...
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5

Feb 16

Wars, cheap oil hurting Middle East growth

The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 per...
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4

Feb 16

25% probability of Saudi FX devaluation soon

There is at least a 25 percent chance of a near-term devaluation of the Saudi Arabian riyal, rising to 40...
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4

Feb 16

Kuwait Airways retires 1,350 nationals

Loss-making Kuwait Airways has let go of 1,350 Kuwaiti nationals during the last two years, part of a plan to...
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4

Feb 16

Dubai Financial Market Q4 profit drops 89 per cent as trading plunges

Dubai Financial Market (DFM), the Gulf’s only listed stock exchange, reported an 89 per cent drop in fourth-quarter net profit...
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4

Feb 16

Credit card culture weighs heavily on UAE saving habits

Only one in five Emiratis puts away savings every month but more than half make monthly payments towards personal loans,...
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4

Feb 16

Airline battle brews in Gulf as Iran eyes regional hub role

An economic battle is likely for dominance of the skies over the Gulf after Iran decided to invest $27 billion...
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4

Feb 16

Lower airfare boosts air travel demand in 2015

A slide in airfare by 5 per cent year-on-year bolstered demand for air travel in 2015, even as economic fundamentals...
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4

Feb 16

Emirates NBD advises clients to ‘remain defensively invested

Emirates NBD, Dubai’s biggest bank, said the fallout in financial markets may not be over yet as a strengthening US...
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3

Feb 16

Mideast carriers’ air freight grows 4pc

Middle Eastern carriers' air freight grew four per cent in December and for 2015 in total the region expanded 11.3...
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3

Feb 16

Russia open to oil talks; oil rises

Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with Opec over...
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3

Feb 16

Barclays cuts 150 jobs in Dubai

Barclays is cutting nearly 150 people from its corporate banking unit in Dubai as part of a restructuring of the...
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3

Feb 16

Saudi private sector growth drops to record low in January

Growth of Saudi Arabia's non-oil private sector eased in January, continuing the trend seen through much of the latter part...
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3

Feb 16

Perfect storm for UAE small businesses as payments, hiring and confidence all drop

The gloom surrounding the UAE’s small businesses failed to lift in the final quarter of last year, according to a...
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2

Feb 16

Oman bans domestic workers from African countries

Oman has stopped issuing visas to domestic workers from Ethiopia, Kenya, Senegal, Guinea and Cameroon. This decision was taken to...
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2

Feb 16

New era for Saudi Arabia’s aviation sector

Saudi Arabia has had one of the most highly regulated aviation markets in the world and limited foreign involvement. But...
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2

Feb 16

Emirates brand valued at $7.7bn, named as top global aviation firm

Emirates Airline has come out on top again as the world’s most valuable airline brand, according to the 2016 Brand...
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2

Feb 16

Suez Canal Economic Zone industry ops to start in 2020

Egypt is working on infrastructure at the Suez Canal Economic Zone that will allow industry investing in the area to...
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2

Feb 16

Dubai plans to build Arab world’s biggest library:

Dubai has announced plans to build the biggest library in the Arab World, designed in the shape of an open...
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2

Feb 16

Oman assures dollar peg will stay

Oman remains committed to the peg of its rial currency against the US dollar, the head of the central bank...
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1

Feb 16

Saudi ready to ‘manage’ oil market says report

Saudi Arabia is ready to manage the oil market under the condition that "everybody must cooperate", from Opec members to...
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1

Feb 16

Dubai house prices and rents still slipping but worst appears to be over

Average house prices in Dubai fell by 0.14 per cent in December as investors search for signs that price falls...
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1

Feb 16

Dubai mall operator says 2015 revenues up 8% to $7.43bn

Majid Al Futtaim, the Dubai-based shopping mall, retail and leisure firm, said on Monday that revenue grew by 8 percent...
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1

Feb 16

Ssangyong JV wins $1.6bn Dubai construction projects

Korean builder Ssangyong has won three big projects in Dubai, UAE, worth $1.6 billion by forming a three-way joint venture...
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1

Feb 16

Meydan Sobha unveils Phase III of giant Dubai project

Meydan Sobha, a joint venture between race track developer Meydan and leading real estate company Sobha group, on Monday (February...
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31

Jan 16

China set to adopt 6.5-7 percent growth target range for 2016-sources:

China's leaders are expected to target economic growth in a range of 6.5 percent to 7 percent this year, sources...
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31

Jan 16

Iraq needs $1.56bn to finance humanitarian crisis caused by war against ISIL:

Baghdad, strapped for cash amid a plunge in oil prices and higher military expenditure associated with the fight against the...
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31

Jan 16

Bahrain to lift energy subsidies ‘gradually’ over four years:

Subsidies on electricity bills will be lifted over a period of four years to minimize the economic impact on consumers,...
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30

Jan 16

Egypt increases tariffs on range of imports:

Egypt has raised tariff rates on a wide range of imports, the official Gazette said on Sunday, the latest effort...
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30

Jan 16

How Saudi tactfully defended its US oil market share:

Saudi Arabia has successfully defended its share of the US oil market even as rising domestic production from shale and...
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30

Jan 16

Within OPEC, Iran is a challenge to any deal on oil cuts:

Iran, boosting oil exports after the lifting of sanctions, is talking of a need to recoup its market share, making...
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29

Jan 16

Mideast buyers invest $5.22bn in European hotels

Middle Eastern buyers invested €4.79 billion ($5.22 billion) in some of the world’s most iconic hotels across key European markets...
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29

Jan 16

Dubai tourism allure undiminished by New Year’s Eve fire, says tourism chief

Bookings in Dubai's tourism industry are looking strong for the first quarter of this year despite the fire which swept...
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28

Jan 16

Commercial Bank of Qatar says 2015 net profit at $389 million.

Commercial Bank of Qatar says 2015 net profit at $389 million.
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28

Jan 16

Nuclear or renewable?

Faced with the double challenge of balancing their energy supply against the needs of growing populations and maintaining economic growth...
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28

Jan 16

Saudi reforms ambitious, challenging

At a three-day conference in Riyadh this week, hundreds of Saudi Arabian officials and businessmen discussed ways to rescue the...
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28

Jan 16

Saudis waste Dh49 bn worth of food a year

Saudis waste nearly SR49 billion (Dh49 billion) worth of food every year, enough to building more than 1,000 schools and...
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28

Jan 16

Gulf airlines squeezed by Iran tensions

Diplomatic tensions are causing airlines in Saudi Arabia, Iran and Bahrain to lose millions of dollars in revenue at a...
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28

Jan 16

Hurdles remain as Iran seeks aviation investment

Iran courted Western aviation firms this week with a blueprint of regulatory reforms aimed at setting aside 40 years of...
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28

Jan 16

Oil rises towards $34 on chance of production cut

Oil rose towards $34 per barrel on Thursday, hitting a three-week high and bouncing well off a 12-year low set...
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27

Jan 16

Shell investors back $50 billion BG takeover

Royal Dutch Shell shareholders approved its $50 billion takeover of BG Group on Wednesday, clearing the last main hurdle to...
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27

Jan 16

Bahraini businessmen warn of private sector layoffs

Members of the Bahrain Chamber of Commerce and Industry (BCCI) have warned private sector companies may be forced to close...
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27

Jan 16

Kuwait forecasts $40 billion budget deficit

Kuwait's Finance Ministry said on Thursday that the Gulf oil exporter's 2016-17 draft budget forecasts a deficit of KD12.2 billion...
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27

Jan 16

70% of planned UAE real estate ‘will fail to materialize in 2016’

An estimated 70 percent of the UAE’s pipeline real estate schemes scheduled for completion in 2016 will fail to be...
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26

Jan 16

Kuwait may issue bonds to help fund $100bn oil investment

Kuwait Petroleum Corp is considering selling bonds to help pay for a planned investment of $100 billion over the next...
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26

Jan 16

Kuwait sees tough 2016; oil at $40-60 till 2020

Kuwait's Opec governor said on Tuesday that this year would be tough, with oil prices seen recovering only after 2016...
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26

Jan 16

Saudi industrial city to speed up, broaden investment

The developer of one of Saudi Arabia's biggest industrial city projects said it will speed construction of infrastructure and broaden...
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26

Jan 16

Emirates ID replaces health insurance, ATM cards; driving license next?:

The Emirates Identity Authority (Eida) is ready to provide all the necessary support to government and private institutions that want...
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26

Jan 16

Etihad Rail suspends tendering process for phase 2 of UAE rail network

Etihad Rail, the developer and operator of the UAE's $11 billion national rail network, on Tuesday confirmed that it has...
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26

Jan 16

Sharjah GDP grows 8%, eyes growth in industrial and retail sectors

As part of its diversification driver, Sharjah is looking to substantially increase contribution of retail and industrial sectors in the...
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26

Jan 16

Hurdles remain as Iran seeks aviation investment

Iran courted Western aviation firms this week with a blueprint of regulatory reforms aimed at setting aside 40 years of...
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25

Jan 16

Oil falls 4pc on swelling oversupply

Oil prices fell 4 percent on Monday as Iraq announced record-high oil production feeding into a heavily oversupplied market, wiping...
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25

Jan 16

Dubai reveals plan for world’s largest wellness project

Dubai Healthcare City on Monday announced the launch of the world's largest wellness concept in its phase 2 expansion in...
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25

Jan 16

Iran, China agree to increase trade to $600bn in the next decade

Iran and China agreed to expand bilateral ties and increase trade to $600 billion in the next 10 years, President...
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25

Jan 16

UAE’s Lulu named among world’s fastest growing retailers

UAE-based EMKE Group, which runs the Lulu chain of supermarkets, has been named among the fastest growing retailers in the...
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25

Jan 16

Saudi consumer spending growth slowing

Growth in Saudi Arabia's consumer spending is slowing as low oil prices hit households' disposable income and geopolitical tensions make...
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24

Jan 16

Firms ‘must mend ways or lose Millennials

Businesses must adjust how they nurture loyalty among Millennials or risk losing a large percentage of their workforces, according to...
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24

Jan 16

Iran set to buy 127 Airbus planes

Iran has struck a provisional deal with Europe's Airbus to buy 127 aircraft, including eight A-380 superjumbo planes, the country's...
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24

Jan 16

Kuwait planning $100bn new sovereign wealth fund

Kuwait is planning a new state-owned fund to manage as much as $100 billion in local assets with the goal...
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24

Jan 16

Aramco IPO won’t include reserves: Al-Falih

Saudi Aramco chairman Khalid Al-Falih said on Sunday an initial public offering of the world's largest oil firm could be...
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24

Jan 16

Saudia planning $1.3bn bond in Q2 to finance new planes

Saudi Arabia’s main airline said it’s planning to sell as much as 5 billion riyals ($1.3 billion) of Islamic bonds...
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24

Jan 16

Saudi eyes foreign non-oil investment as crude slumps

Saudi Arabia aims to at least double annual inflows of foreign direct investment (FDI) over the next 10 years by...
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24

Jan 16

UAE banks report drop in demand for credit

Demand for credit in the United Arab Emirates was in a downtrend during the fourth quarter of last year, the...
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23

Jan 16

No sign Saudi Arabia will ride to oil market rescue

Low oil prices have pushed top exporter Saudi Arabia to hasten difficult economic reforms and cut spending on popular benefits,...
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23

Jan 16

Omran sets up investment unit for $1.3bn waterfront project

Oman Tourism Development Company, also known as Omran, has set up a dedicated investor relations taskforce to seek private sector...
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23

Jan 16

Dubai to buy new metro trains, expand public transport services

Dubai's transport authority on Saturday announced plans to procure new trains to keep up with growth in the number of...
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23

Jan 16

Dubai villa oversupply leads to 18% drop in prices at The Springs:

Sale prices of villas at The Springs community in Dubai have dropped by 18 per cent over the past year...
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23

Jan 16

As oil price falls Canadian expats in UAE feel benefit

The rapid fall of the Canadian dollar alongside plunging oil prices is hitting Canadians at home hard, with a marked...
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23

Jan 16

Iran to hook up to international banks in weeks

Iran is set to re-engage with the banking world within weeks as international lenders link up with their Iranian counterparts...
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23

Jan 16

Dubai’s DP World inks JV deal to develop Russian ports

Dubai-based port operator DP World and the Russian Direct Investment Fund have launched a joint venture to develop ports, transportation...
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23

Jan 16

Dubai property prices, rents forecast to soften further in 2016

Average residential property prices fell 10 percent during 2015 and and set to drop further this year, according to a...
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21

Jan 16

Enviromena sees 10-fold jump in solar deals

Enviromena Power Systems, builder of solar power plants, sees contracts rising tenfold in 2016 as countries from Oman to Morocco...
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21

Jan 16

UAE eyes new clean energy generation target by 2030

The UAE is looking to increase its target for power generation from clean energy to 30 per cent by 2030,...
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21

Jan 16

Costs of hiring a worker must be borne solely by UAE employer

The Ministry of Labour has repeatedly stated that the costs of taking on an employee must be borne by the...
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21

Jan 16

HSBC said to review operations in Lebanon amid cost-saving push

HSBC Holdings is reviewing its operations in Lebanon and may exit the Middle Eastern country as the bank focuses on...
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21

Jan 16

Oman reveals plan to set up first budget airline

Oman plans to establish its first budget airline to boost tourism as the plunge in global oil prices encourages the...
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21

Jan 16

Oman said to be planning VAT ‘for mid-2017

A member of Oman’s Shura economic committee has said value added tax (VAT) will be introduced in the sultanate by...
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21

Jan 16

Kuwait mulls income, sales taxes as oil hits 12-year low

Kuwait should consider introducing income, corporate and sales taxes to compensate for revenue lost from the plunge in oil prices...
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21

Jan 16

Dubai will weather the storm,’ says CEO of $183bn sovereign wealth fund

Global economic uncertainty and low oil prices will have little lasting impact on Dubai, according to the CEO of the...
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20

Jan 16

Virtual reality market to hit $1 billion this year

Virtual reality (VR) will have its first billion dollar year in 2016, with about $700 million in hardware sales, and...
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20

Jan 16

Global jobless rate to slip lower next year: ILO

The global unemployment rate will inch down to 5.7 per cent in 2017 from 5.8 per cent in 2014-16, helped...
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20

Jan 16

With cheap oil, electric vehicle sales fall far short of goal

Back in 2008, with gas prices averaging nearly $4 a gallon, US President Barack Obama set a goal of getting...
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20

Jan 16

Dubai hotels set to see ‘new norm’ of 70-75% occupancy

Rising competition among Dubai's hotel operators will bring a "new norm" for occupancy rates in the city of between 70-75...
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19

Jan 16

Saudi central bank warns banks against riyal speculation

The Saudi Arabian central bank has warned commercial banks against betting on depreciation of the riyal as tumbling oil prices...
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19

Jan 16

Gulf’s largest mining firm swings to Q4 net loss

Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, reported a fourth-quarter net loss on Wednesday, missing analysts' forecasts as...
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19

Jan 16

Saudi Arabia said to cut advance payments to firms for state contracts

Saudi Arabia's finance ministry has cut advance payments to firms doing construction work for the government to 5 percent of...
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19

Jan 16

Saudi Arabia’s economy set to grow at slowest rate since 2002

 Saudi Arabia’s economy is set to grow this year at the slowest pace since 2002 as the oil-price plunge drains...
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19

Jan 16

Iran power sector: Enough to double GDP

Electricity tariffs in Iran are among the lowest in the world, owing largely to the country’s own internal resources, while...
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18

Jan 16

Your UAE job hunt just got easier: Dafza, LinkedIn tie-up

The Dubai Airport Free zone Authority (Dafza) and LinkedIn, the world's largest professional network on the internet, officially formed an...
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18

Jan 16

Richest 62 people own same as half world’s population

The wealthiest 62 people now own as much as half the world's population, some 3.5 billion people, as the super-rich...
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18

Jan 16

Oil producing nations forecast to sell $240bn assets this year

Oil-producing countries will sell $240 billion of international assets this year, mostly stocks and bonds, in an attempt to hold...
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18

Jan 16

Mena region to attract $35bn renewable energy investment

With increasingly lower-cost solar photovoltaic modules helping the countries in Middle East and North Africa (Mena) to diversify their energy...
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18

Jan 16

OPEC sees market rebalancing in 2016 on price collapse

OPEC forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the...
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18

Jan 16

16,000 new firms came on board at Dubai Chamber in 2015

In 2015, the emirate of Dubai reinforced its attractiveness to global investors with the addition of over 16,000 new companies...
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17

Jan 16

UAE’s coffee market poised for solid growth

The UAE’s coffee market is expected to grow by over 30 per cent in the next four years as the...
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17

Jan 16

Majid Al Futtaim launches $509m Cairo retail project

UAE-based shopping mall developer Majid Al Futtaim has announced plans to develop a third city centre project in Egypt at...
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17

Jan 16

UAE’s RAKBank to cut up to 250 jobs as part of review

National Bank of Ras Al Khaimah (RAKBANK) will cut up to 250 jobs as part of a review of the...
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17

Jan 16

Airbus plan heralds Iran boom after sanctions lifted

A purchase of more than 100 aircraft from Europe's Airbus may be one of Iran's first big deals in a...
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17

Jan 16

Nuclear sanctions on Iran lifted

Iran emerged from years of economic isolation on Saturday when world powers lifted crippling sanctions against the Islamic Republic in...
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17

Jan 16

GCC project contract values set to plunge 15pc in 2016

The value of contracts awarded in the GCC is set to drop sharply by 15 per cent in 2016 as...
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16

Jan 16

Dubai’s Dragon Mart posts record footfall during DSF 2016

Nakheel's Dragon Mart retail complex in Dubai has registered its highest number of daily visitors since opening in 2004, with...
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16

Jan 16

How far can it fall? Hedge funds see 15pc tumble for yuan

The global gloom over China's yuan has deepened swiftly, with investment banks slashing forecasts and some analysts and money managers...
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16

Jan 16

Oil plunges below $29 on prospects of Iran supply

Oil prices crashed 6 per cent on Friday to close below $30 a barrel for the first time in 12...
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16

Jan 16

International sanctions on Iran set to be lifted today

International sanctions on Iran will be lifted on Saturday when the International Atomic Energy Agency (IAEA) issues its final report...
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14

Jan 16

International sanctions on Iran set to be lifted today

International sanctions on Iran will be lifted on Saturday when the International Atomic Energy Agency (IAEA) issues its final report...
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14

Jan 16

Commodities are the most prone to squeezes in both directions

Buyers cannot delay purchases; suppliers cannot easily store their excess. Second, people are rarely aware of such a point when...
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14

Jan 16

China income inequality among world’s worst

Communist China has one of the world’s highest levels of income inequality, with the richest 1 per cent of households owning a...
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14

Jan 16

Oman’s Bank Muscat Q4 net profit rises 7.3%

Bank Muscat, Oman's largest lender, posted a 7.3 percent increase in fourth-quarter net profit on Thursday. The bank made a...
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14

Jan 16

US dollar ‘eroding’ Emirates profits, says airline chief

The strong US dollar is “continuing to erode” Emirates Airline’s profits while regional conflicts threaten to “disrupt” operations, the group’s...
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14

Jan 16

Egypt aims to reduce import bill by 25pc

Egypt aims to reduce its import bill by 25 percent in 2016 compared to the previous year after the central...
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14

Jan 16

Rupee tumbles by 44 paisa to more than 2-year low at 67.29

The Indian rupee tumbled by 44 paisa to more than 2-year low at 67.29 against the American currency on fresh...
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14

Jan 16

Oil prices could average $37 in 2016 says report

Brent and WTI prices will hover around $37/barrel this year, though the prices could move slightly higher in the second...
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14

Jan 16

VAT to be introduced in UAE in 2018 @ 3-5%: Official

A senior official at the UAE’s Ministry of Finance (MoF) has confirmed that Value-Added Tax (VAT) will be introduced across...
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13

Jan 16

Dubai to launch $1bn DIFC project next week

Dubai’s sovereign wealth fund, the Investment Corporation of Dubai (ICD) and Canada’s Brookfield Asset Management will  plan to build a...
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13

Jan 16

Oil prices rise for first time in eight days on China data

Oil prices rose for the first time in eight days on Wednesday as positive Chinese trade data and an unexpected...
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13

Jan 16

Gulf’s largest lender posts 5.3% rise in Q4 net profit

Qatar National Bank (QNB), the largest lender in the Gulf Arab region, said on Wednesday it would ask shareholders to...
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13

Jan 16

Lulu targets $400m investment in Saudi Arabia

Lulu Hypermarkets, retail major in the Middle East, plans to invest SR700 million ($186 million) in Saudi Arabia by the...
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13

Jan 16

GCC states ‘can earn 10pc of GDP via non-tax incomes

Maximizing government revenues, such as state-owned enterprises (SOEs) and pension funds, that are currently untapped are among non-tax incomes that...
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13

Jan 16

Developing countries face ‘new reality’ of lower growth, says IMF

Emerging economies are facing a “new reality” that is significantly slowing the pace of economic convergence with the rich world...
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12

Jan 16

UAE plans fire safety risk review after NYE hotel blaze drama

Dubai Civil Defense (DCD) is to conduct a major review of all buildings in the UAE to establish the fire...
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12

Jan 16

Dana Gas to slash office workforce by 40pc

Abu Dhabi-listed Dana Gas aims to slash its head office workforce by 40 percent and cut general and administrative costs...
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12

Jan 16

Bahrain hikes petrol price by 56%; Oman removes subsidies

Bahrain on Monday announced a hike of more than 50 per cent in petrol prices following its cut in subsidies...
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12

Jan 16

UAE homes supply slows dramatically as sales slump in 2015

Just 8,000 residential units were completed in Dubai and Abu Dhabi in 2015, less than half the number in the...
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12

Jan 16

Dubai households expect rent rise on renewal

A majority of households in Dubai expect increases in their rent renewal prices, as rentals rose at the slowest pace...
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11

Jan 16

33 nationalities can exchange driving licenses from home country in Dubai

Thirty-three nationalities are allowed to exchange their permanent driver’s license from their home country for a Dubai driving license, according...
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11

Jan 16

Saudi Arabia plans $80bn desalination projects by 2025

The state-run Saudi Saline Water Conversion Corporation (SWCC) has announced plans to invest about $80 billion by 2025 in bid...
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11

Jan 16

GCC dollar pegs ‘to hold at current oil prices

An Opec market share competition could push oil prices lower, increasing pressure on GCC pegs, but the core GCC USD...
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11

Jan 16

ama chief blames ‘unrealistic speculators

SSaudi Arabia's central bank governor said on Monday recent volatility on its currency in the forwards market is due to...
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11

Jan 16

Managing GCC energy reforms ‘a challenge

The energy-pricing reforms by GCC governments will have direct and indirect effects on the welfare of households and the profitability...
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10

Jan 16

Unauthorized sellers via social media face Dh25,000 fine

People selling products on social networks could be fined Dh25,000 and have their account shut in case they are not...
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10

Jan 16

Almarai costs to rise by $133m this year

Saudi Arabian dairy firm Almarai on Sunday said utility price increases and new crop-growing restrictions will increase its costs by...
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10

Jan 16

Dubai Duty Free records 0.6% drop in sales on the back of weak Euro, falling Russian spending

Dubai Duty Free recorded a slight drop in sales last year, from AED6.999 billion ($1.917 billion) in 2014 to AED6.892...
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10

Jan 16

Saudi Arabia, Kuwait lead GCC in jobs creation

Saudi Arabia and Kuwait lead the GCC in terms of hiring activity during December 2015, which rose by 18 per...
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9

Jan 16

Doha named most expensive MidEast city for construction costs

Doha has been named the most expensive city in the Middle East for construction costs in a new ranking published...
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9

Jan 16

Dubai developer launches new project to regenerate Karama

Dubai developer wasl properties has announced the launch of wasl Duet in Karama, part of the company's plan to regenerate...
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9

Jan 16

Top Dubai tycoon to build second Al Habtoor City in Egypt

One of Dubai's top businessmen has revealed plans to build a huge mixed-use development in Cairo, based on a similar...
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9

Jan 16

GCC set to see lowest salary rises in years in 2016 as cheap oil bites

2016 is set to be a year of fiscal prudence with regards to employee salary rises in the GCC with caution...
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9

Jan 16

Oil down 10pc after five-day drop

Oil fell for a fifth straight day on Friday, losing 10 per cent on the week, and Goldman Sachs said...
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5

Jan 16

Volkswagen faces billions in penalties

The US Justice Department on Monday filed a civil lawsuit against Volkswagen AG for allegedly violating the Clean Air Act...
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5

Jan 16

Saudi to privatize Jeddah, Dammam airports in 2017

Saudi Arabia's civil aviation authority will privatize Jeddah and Dammam airports in 2017, the regulatory said on Tuesday. King Abdulaziz...
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5

Jan 16

GCC plastics sector growth to top 3pc annually

Plastic production in the Arabian Gulf will grow at a steady 3.2 per cent per year till the end of...
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5

Jan 16

Lulu Group to invest $150m in India’s Lucknow

The UAE-based Lulu Group will invest Rs1,000 crores ($150 million) in India's Lucknow, the capital of Uttar Pradesh state, to...
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5

Jan 16

Rents drop up to 11% in Dubai in 2015, says RERA

The official rental index for Dubai has been updated for 2016, with one- and two-bedroom apartments showing a decrease in...
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4

Jan 16

Insurance cost of natural disasters falls in 2015

Insurance claims from natural disasters such as storms and earthquakes fell to $27 billion in 2015 as the overall cost...
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4

Jan 16

Saudi Arabia debt insurance costs jump as Iran relations sour

The cost of insuring exposure to Saudi Arabian debt rose on Monday to the highest level since at least 2010...
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4

Jan 16

Big oil to cut investment again in 2016

With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment...
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4

Jan 16

Saudi Arabia to cut flights, trade with Iran

Saudi Arabia's breach of ties with Iran will extend to cutting air traffic between the countries, ending commercial relations and...
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3

Jan 16

White House delays new Iran missile sanctions

The White House expects Iran to finish work needed to trigger implementation of an international nuclear deal in the coming...
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3

Jan 16

UAE pay hikes in range of 5% by Robert Half

Research from this recruitment firm indicates that HR directors in the country are witnessing a return of salary inflation, for...
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3

Jan 16

Expat ‘guarantee’: New era in UAE job market begins today

The UAE today [Sunday] began enforcing new labour rules allowing foreign workers to switch jobs without having to leave the...
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2

Jan 16

Weather, war may leave millions more hungry in 2016

Millions more people globally are facing the threat of severe food and water shortages in early 2016 as droughts and...
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2

Jan 16

GE wins $1bn Saudi power plant contract

US industrial giant General Electric Company (GE) said it has won a landmark engineering and construction contract worth nearly $1...
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2

Jan 16

Dubai’s utility DEWA approves $6.4bn budget for 2016

The Dubai Electricity and Water Authority (DEWA) has approved a total budget of AED23.655 billion ($6.44 billion) for 2016, an...
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2

Jan 16

Saudi-led coalition says ending Yemen ceasefire

A Saudi-led coalition that has been bombing the Houthi movement in Yemen for nine months announced on Saturday the end...
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2

Jan 16

Iran expands missile plan amid US sanctions threat

A series of Iranian officials vowed on Friday to expand Tehran's missile capabilities, a challenge to the US which has...
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2

Jan 16

Oman to cut budget deficit 27% this year, minister says

Oman's government plans to cut its budget deficit to 3.3 billion rials ($8.6 billion) this year from an actual 4.5...
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2

Jan 16

Dubai’s nine-month non-oil foreign trade falls slightly to $263bn

Dubai’s non-oil foreign trade fell marginally to AED966 billion ($262.9 billion) during the first nine months of 2015, according to...
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31

Dec 15

India’s energy muscle helps Petronet get better Qatar gas deal

India's biggest gas importer Petronet LNGBSE 2.99 % will buy liquefied natural gas (LNG) from Qatar's Rasgas at almost half...
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31

Dec 15

Saudi Electricity Co inks deal for $979m power plant project

Saudi Electricity Co (SEC) signed a 3.677 billion riyal ($979.91 million) deal to build a combined cycle power plant in...
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31

Dec 15

Saudi won’t limit oil production: Al-Naimi

Saudi Arabian Oil Minister Ali Al-Naimi said the kingdom, the world's top crude exporter, does not limit its output and...
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31

Dec 15

PetroRabigh expansion project faces 9-month delay

The completion of PetroRabigh's Phase II expansion will be delayed by nine months, raising the cost and forcing the Saudi...
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31

Dec 15

US preparing fresh sanctions on Iran: report

President Barack Obama's administration is preparing new sanctions on international companies and individuals over Iran's ballistic missile programme, sources familiar...
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31

Dec 15

GCC likely to see projects scaled back, delayed as cheap oil bites

GCC governments are likely to cut spending on development and infrastructure projects, resulting in "headwinds and challenges" for the region's...
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30

Dec 15

Business Bay, Dubai Marina had highest property deals in 2015

Business Bay topped the list of highest transactions in Dubai in 2015, while Dubai Marina topped the chart in the...
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30

Dec 15

Oman’s Ministry of Finance has indefinitely cut bonuses for government employees

Oman’s Ministry of Finance has indefinitely cut bonuses for government employees as part of a plan to cut the county’s...
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30

Dec 15

Oman approves spending cuts, tax rises

Oman's cabinet approved in principle a series of spending cuts and tax rises to cope with the damage to state...
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30

Dec 15

Saudi Arabia plans VAT in 2 years

Saudi Arabian Finance Minister Ibrahim Alassaf said the kingdom expects to introduce value-added tax in two years, aiming for a...
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30

Dec 15

Saudi budget marks end of era for lavish Gulf welfare handouts

An austere state budget released by Saudi Arabia this week is likely to mark the end of an era for...
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30

Dec 15

Arab sovereign wealth fund exodus just beginning

Oil-rich Gulf sheikdoms are being forced to raid their sovereign wealth funds to shore up their budgets. With US crude...
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29

Dec 15

DEWA moves ahead with plans for Dubai solar park phase 3

DEWA moves ahead with plans for Dubai solar park phase 3
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29

Dec 15

Construction work starts on Abu Dhabi’s $1bn Reem Mall

Once completed, Reem Mall will be home to the world's biggest indoor snow play attraction and is set to include...
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29

Dec 15

Revealed: Analysts react to Saudi Arabia’s 2016 budget

Analysts have responded positively to Saudi Arabia's plans to shrink a record state budget deficit with spending cuts, reforms to...
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29

Dec 15

Saudi fuel price hike shows reformist intent

The queues of cars stretching outside petrol stations in Saudi Arabia on Monday night to fill up before higher fuel...
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29

Dec 15

Oil hovers near 11-year lows on abundant supply

Oil prices steadied not far off their 11-year lows on Tuesday, under pressure from slowing global demand and abundant supplies,...
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29

Dec 15

Abu Dhabi raises water, electricity prices for expats

Abu Dhabi has raised water and electricity rates for expats, partially removing the subsidy in a bid to cut spending...
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29

Dec 15

Dubai’s Aster to invest $136m in GCC healthcare over next two years

Dubai-based Aster DM Healthcare has announced plans to invest $136 million in the Gulf over the next two years as...
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29

Dec 15

Emirates expects rush of Dubai visitors for NYE, shopping festival

Travel is expected to reach an all-time high at the end of this week for Emirates Airline, as visitors flock...
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28

Dec 15

Dubai reveals action plan to ease NYE traffic

Dubai’s Roads and Transport Authority (RTA) has taken action to limit traffic during New Year celebrations. According to Maitha bin...
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28

Dec 15

Bahrain cabinet approves new fuel pricing system

Bahrain's cabinet has approved a new pricing system for diesel and kerosene that is set to begin in January. The...
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28

Dec 15

GCC ‘real’ pay rises to dip below global average in 2015

Salaries in the Gulf region are forecast to see average real increases of 2.3 percent this year, lower than the...
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28

Dec 15

Saudi Arabia raises domestic energy prices

Saudi Arabia has raised domestic energy prices, including fuel prices. The world's largest oil exporter has set the price of...
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28

Dec 15

Saudi plans spending cuts, reforms to reduce deficit

Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending...
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27

Dec 15

Hundreds of run-down villas to be demolished in Dubai

An estimated 250 dilapidated villas across Dubai pose a public health risk and are to be demolished, Dubai Municipality has...
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27

Dec 15

Qatar to implement sweeping labour law reforms in 2016

Qatar is set to implement a new residency law from next year replacing the Kafala (sponsorship) system with a contract-based...
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27

Dec 15

Flights to India to become more expensive under new plan

India’s government plans to change the way it allocates capacity to foreign airlines from a state-negotiated method to an auction...
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27

Dec 15

Iran plans to double mining share in GDP

With the fall in oil prices, Iran’s focus has drifted to non-oil sectors and the government is aiming to increase...
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27

Dec 15

GCC rate hikes will have only ‘minor’ impact on economies – Fitch

Interest rate increases by the central banks of Saudi Arabia, Bahrain, and Kuwait reflect their commitment to their exchange rate...
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27

Dec 15

Dubai spending to increase 12pc; focus on infrastructure

Dubai plans to raise state spending by 12 per cent in 2016 as it invests in infrastructure to sustain economic...
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22

Dec 15

Jebel Ali Free Zone repays Dh2 bn bank debt before maturity

Jebel Ali Free Zone (Jafz) has made early repayment of its Dh2 billion Islamic loan facility to banks nearly four...
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22

Dec 15

Gulf builders urged to adopt new guidelines to protect workers

Construction firms operating in the Gulf region are being urged to adopt a new set of guidelines which have been...
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22

Dec 15

Saudi debut bond can expect warm investor welcome

Saudi Arabia's debut international bond should get a warm welcome from foreign investors if it hits markets in 2016, though...
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22

Dec 15

Prices of 15 building materials drop in November

The average prices of 15 groups of building materials dropped in November 2015 compared with November 2014, with the decline...
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22

Dec 15

Amid energy rout, traders see opportunities in 2016

Energy markets have spent most of 2015 in a tailspin and there are expectations that oil, coal and natural gas...
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22

Dec 15

US oil exports will not affect market: UAE minister

The end of an oil export ban in the US will not affect market fundamentals, the United Arab Emirates' energy...
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22

Dec 15

No plan for taxes on incomes or remittances, minister says

The UAE is not planning to start taxing individual incomes in the UAE, a minister of state said yesterday. “There...
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21

Dec 15

Saudi’s ACWA to ink $400m deal for Jordan power plant

State-owned National Electric Power Co will sign a $400 million contract next week with Saudi Arabia-based ACWA Power for construction...
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21

Dec 15

Dur appoints Shapoorji Pallonji to build luxury Riyadh hotel

Dur Hospitality Company has appointed Shapoorji Pallonji Engineering and Construction to build Diplomatic Quarter Riyadh Marriott Hotel and Executive Apartments....
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21

Dec 15

Dubai Shopping Festival to run for 32 days from Jan 1

The 21st edition of Dubai Shopping Festival will run for 32 days from January 1 to February 1, organizers said...
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21

Dec 15

Iran woos Indian refiners to drive oil sales in cut-throat market

Spurred by the prospect of an end to western sanctions, Iran has agreed to consider Indian demands for steep oil...
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21

Dec 15

Brent crude skids to lowest since 2004

Brent crude prices fell to their lowest in more than 11 years on Monday, hounded by a relentless rise in...
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21

Dec 15

21 global firms eye 800MW Dubai solar park project

Dubai Electricity and Water Authority (Dewa) has received 21 requests for qualification (RFQs) from international energy companies and consortia for...
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20

Dec 15

Kuwait to ban expats aged over 50

Expats in Kuwait aged over 50 will be forced to leave the country under a new measure announced to reduce...
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20

Dec 15

Prospects slim for major global economic pickup

The world economy may be set for another year like 2015, with modest growth in developed economies offsetting persistent weakness...
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20

Dec 15

Kuwait’s handset market likely to shrink in 2016

The Kuwaiti mobile handset market is tipped to shrink 6 per cent year on year in 2016, according to the...
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20

Dec 15

Saudi oil exports rise in October

Saudi Arabia's crude oil exports in October rose by 253,000 barrels per day from September to 7.364 million bpd. The...
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20

Dec 15

Lulu Group to open 10 hypermarkets in Egypt

UAE-based Lulu Group will invest EGP 3 billion ($300 million) in setting up 10 new hypermarkets across Egypt in the...
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20

Dec 15

2016 trends for Middle East oil & gas companies

Middle Eastern oil and gas companies are implementing flexible and integrated software technology to overcome complexity, aiming to standardize across...
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19

Dec 15

Sun Pharma gets warning letter from US FDA

India's largest drug maker Sun Pharma has received a warning letter from the US FDA for its manufacturing facility based...
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19

Dec 15

Reforms are must for the Indian economy to grow

The midyear review of the Indian economy pragmatically lowers the full-year economic growth forecast to 7-7.5 per cent, weighed down...
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19

Dec 15

Dubai’s RTA awards contracts to build cycling, running tracks

Dubai's transport authority has announced the award of contracts for the construction of cycling and running tracks at five destinations...
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19

Dec 15

Gulf banks set to dominate global Islamic banking sector by 2020

Islamic banking assets of commercial banks based in Qatar, Indonesia, Saudi Arabia, Malaysia, the UAE and Turkey (known as QISMUT)...
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19

Dec 15

Oman says to privatize three state-owned firms in 2016

Oman will privatize three state-owned companies next year, Finance Minister Darwish al-Balushi told on Thursday, declining to give further details.
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19

Dec 15

Prospects still slim for major global economic pickup

The world economy may be set for another year like 2015, with modest growth in developed economies offsetting persistent weakness...
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19

Dec 15

Bahrain says $32bn projects will underpin economic growth

Infrastructure investment totaling $32 billion will underpin Bahrain's long-term economic growth, according to Crown Prince Salman bin Hamad Al Khalifa,...
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19

Dec 15

Saudi Arabia draws up new economic reforms amid low oil

Saudi Arabia's deputy crown prince has privately outlined plans to reshape the economy to withstand low oil prices, sources said,...
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17

Dec 15

UAE’s Etihad plans to expand 787 networks in 2016

Etihad Airways on Thursday unveiled plans to fly its Boeing 787 Dream liners to five more destinations during 2016.
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17

Dec 15

Qatar to spend $72bn on infrastructure projects

Qatar government is set to spend a whopping QR261 billion ($72 billion) on infrastructure development with special focus on transport,...
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17

Dec 15

Gulf defense spending drops in 2015 for first time in decade

Low oil prices are eating into defense spending in the Gulf region, one of the world's largest arms markets, with...
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17

Dec 15

Saudi banks seen benefiting from Fed interest rate rise

Saudi Arabian banks are set to benefit from the US Federal Reserve’s decision to raise interest rates for the first...
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17

Dec 15

Oil nears 11-year low on oversupply, strong dollar

Oil slipped towards an 11-year low on Thursday, dented further by a seemingly relentless build in oversupply, and as the...
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17

Dec 15

UAE central bank raises key policy rate by 25bps

The United Arab Emirates central bank said on Thursday it decided to raise the interest rate on its certificates of...
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16

Dec 15

Oil prices in Canada touch new low at $20

In western Canada, some producers are selling for less than $22 a barrel. "More than a third of the global...
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16

Dec 15

Dubai Expo 2020 focuses on delivery, awards contracts

Expo 2020 Dubai has awarded 72 new tenders through its dedicated online e Sourcing portal to local, regional and international...
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16

Dec 15

Oman to award major EPC contracts for plastic project

State-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) is set to award four major engineering, procurement and contracting (EPC)...
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16

Dec 15

Qatar cuts 2015 GDP forecast, ups fiscal surplus view

Qatar said on Wednesday it has halved its forecasts for economic growth in 2015, the latest sign of the hit...
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16

Dec 15

US Fed readies first hike in almost a decade amid calm markets

Eight years after a devastating recession opened an era of loose U.S. monetary policy, the Federal Reserve was set on...
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15

Dec 15

Cost of Arab Spring estimated at $833bn

The cost of the Arab Spring registered $833.7 billion (more than Dh3 trillion) according to a report released at the...
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15

Dec 15

Saudi King Salman orders over $8bn investments in Egypt

Saudi Arabia's King Salman has ordered the kingdom to help meet Egypt's petroleum needs for the next five years. He...
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15

Dec 15

DP World to invest $1.9bn in China port

Dubai ports operator DP World and other partners are investing $1.9 billion in China port terminals until 2020, the firm...
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15

Dec 15

190 skyscrapers built in Dubai since 2000

Almost 190 skyscrapers, including the Burj Khalifa, have been built in Dubai in the last 15 years, a staggering figure...
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15

Dec 15

Retail renaissance in Saudi Arabia

The UAE is often hailed as the queen of shopping malls. After all, it has one of the world’s largest...
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14

Dec 15

India will see a direct hit from Fed liftoff

The US Federal Reserve is likely to increase rates for the first time since 2006 when it meets on December...
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14

Dec 15

Rupee weakens most in more than two years; closes at 67.10/$

The Rupee has weakened the most in more than two years to close at 67.10 per dollar on Monday ahead...
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14

Dec 15

Oman records $1bn in monthly real estate transactions

More than $1 billion worth of real estate transactions were recorded in Oman in November, according to the Ministry of...
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14

Dec 15

Dubai property prices set to fall further in 2016 as supply picks up

Dubai's residential market experienced further declines during the fourth quarter of 2015, with sales rates falling by 4 percent drop...
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14

Dec 15

Sharjah residential property market softens in 2015

The residential property market in Sharjah, UAE, is starting to show signs of softening at the end of 2015, however...
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14

Dec 15

UAE, China to set up $10bn strategic investment fund

The United Arab Emirates and China have launched a joint strategic investment fund worth $10 billion. The goal behind the...
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13

Dec 15

Dec 24 declared a paid holiday for UAE workers

December 24 has been declared a paid holiday for all public and private workers in the UAE, it was announced...
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13

Dec 15

Top 10 issues facing mining companies in 2016

Weak commodity prices, declining grades and a falloff in demand from China, regulatory mandates and high tax burden will continue...
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13

Dec 15

Dubai’s Dh12 billion push revives 51 projects

Dubai has revived 51 projects worth Dh12 billion under its Tanmia initiatives since 2011, the Dubai Land Department said in...
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13

Dec 15

UAE women more financially literate than men, bucking global trend

Women in the UAE are more financially literate than men, according to a new survey which said it one of...
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13

Dec 15

Doha Bank says signs $575m, two-year loan

Qatar's Doha Bank has signed a two-year $575 million syndicated unsecured loan for general corporate purposes, it said in a...
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12

Dec 15

Abu Dhabi urged to address affordable homes shortage

The lack of affordable housing in Abu Dhabi provides a major opportunity for developers to fill the gap with 'genuine...
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12

Dec 15

Qatar likely to see small fiscal deficit in 2016, says Moody’s.

Qatar likely to see small fiscal deficit in 2016, says Moody's.
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12

Dec 15

Saudi eyes spending cuts, new revenue sources

Saudi Arabia's government is expected to announce spending cuts and a drive to raise revenue from new sources as it...
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10

Dec 15

Saudi private sector growth recovers in November from record low

Faster growth of new work helped Saudi Arabia’s non-oil private sector to regain some momentum during November following record lows...
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10

Dec 15

VAT in the Gulf

A question of when not if, says Deloitte: Agreements reached recently by members of the GCC on certain design aspects...
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9

Dec 15

Price drop will hurt GCC construction in 2017, says contractor

The ramifications of diminished oil prices could hit the regional construction industry in 2017 if prices do not recover next...
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9

Dec 15

Egypt to build one million homes for poor

Egypt plans to build one million homes for poorer people at a cost of almost $20 billion over the next...
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9

Dec 15

Regulation hits business dealings of UAE and US banks

The United Arab Emirates wants authorities in the United States to clarify regulations for US banks doing business with UAE...
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9

Dec 15

France’s BNP Paribas to close Dubai office, axe 40% of Bahrain staff

BNP Paribas, France's largest bank, is to close its Dubai office and cut almost 40 percent of employees at its...
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9

Dec 15

Healthcare is the best sector to look for Job

If you are on the lookout for a job in the UAE, healthcare is the brightest spot right now. According...
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8

Dec 15

Souq.com sales ‘double during White Friday

White Friday sales on Middle East online retailer Souq.com more than doubled compared to last year, with 13 million visitors...
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8

Dec 15

Oman contractors warn of major construction job losses

Around 55,000 Omani construction workers risk losing their jobs in the next year, trade body the Oman Society of Contractors...
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8

Dec 15

Oman Oil plans to invest $4bn to boost output despite low prices

Oman Oil's exploration and production division plans to invest up to $4 billion over the next five years to boost...
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8

Dec 15

Kuwait planning to raise corporate tax, cut subsidies

Kuwait may raise the corporate tax rate to 10 per cent for local firms and impose limits on energy subsidies;...
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8

Dec 15

Update your ‘KYC’ or your bank may ‘freeze’ your transactions

UAE banks are advising customers to complete the ‘Know Your Customer’ (KYC) requirement with those failing could find their cheque...
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8

Dec 15

Modest wage outlook for GCC workers in 2016

Workers in the GCC countries can expect a real wage increase of 2.3 per cent in 2016, the lowest of...
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8

Dec 15

Abu Dhabi GDP growth seen at 5.2% in 2015, 4% in 2016

Abu Dhabi's gross domestic product is expected to grow by around 5.2 percent this year and 4 percent in 2016....
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7

Dec 15

EU plans measures to even competition with Gulf airlines

The European Commission is considering new measures to tackle what it sees as unfair competition from non-EU airlines as part...
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7

Dec 15

China’s budget airlines spread wings, add routes

Low-cost carriers account for 7 per cent of China's domestic air travel market, and that's expected to more than double...
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7

Dec 15

Uneasy calm in markets about upcoming US rate hike

An "uneasy calm" prevails in financial markets about the first increase in US interest rates in almost a decade, which...
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7

Dec 15

UAE, Saudi see rebound in non-oil business growth

The UAE’s non-oil private sector expansion strengthened in November, having eased to a two-and-a-half year low during October, while faster...
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7

Dec 15

New expat tax proposal could earn extra $1bn for Bahrain – official

New tax proposals for expats and the private sector in Bahrain could bring in as much as $1 billion in...
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7

Dec 15

GCC states ‘agree on key issues for launching VAT

Gulf States have agreed on key issues for implementing value-added tax in the region. The agreement was reached at a...
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7

Dec 15

Oil price slumps to lowest mark in almost seven years

Oil prices fell to their lowest in nearly seven years on Monday after OPEC's meeting ended in disagreement over production...
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6

Dec 15

Do people want what your business is selling?

You probably already know that nine out of 10 start-ups will fail but do you know the single biggest reason...
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6

Dec 15

Qatar urges Volkswagen to scale back influence of trade unions

Qatar, the third-largest shareholder in Volkswagen, is urging the German carmaker to reduce the influence of its powerful trade unions...
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6

Dec 15

Iran Businesses feel the squeeze as Tehran tightens up on tax

Many small businesses are struggling with confusion over the country’s VAT law, which came into effect in 2008 and is...
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6

Dec 15

Bahrain subsidy cuts ‘insufficient’ to offset cheap oil, says Fitch

Fitch Ratings has revised Bahrain's outlook to negative from stable as it forecasts a wider double-digit budget deficit of 12.5...
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6

Dec 15

Dubai’s Depa plans job cuts across global workforce

Dubai construction contractor and interiors firm Depa Ltd has announced plans to make job cuts across its global workforce as...
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6

Dec 15

Drake & Scull unit wins UAE projects worth $35.6m

Drake & Scull Engineering has announced that it has been commissioned to deliver mechanical and kighting works for a mixed...
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5

Dec 15

CEA-led committee suggests GST rate of 17-18 percent

A key indian government committee has suggested a standard goods and services tax (GST) rate of 17-18%, increasing chances of...
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5

Dec 15

India’s ambitious project to redevelop 400 railway stations

India's ambitious project to redevelop 400 railway stations through private sector investment will be the largest public-private-partnership (PPP) project in...
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5

Dec 15

Bill Gates sees India as digital payments economy soon

Technology titan and co-chair of Bill & Melinda Gates Foundation, Bill Gates sees India leapfrog into a digital payments economy,...
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5

Dec 15

US arms makers strive to meet demand as ME conflicts rage

Top US arms makers are straining to meet surging demand for precision missiles and other weapons being used in the...
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5

Dec 15

Saudi Aramco outlines plan to spend $300bn over 10 years

Saudi Aramco wants to double to 70 percent the amount of goods and services it sources from the local market...
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5

Dec 15

Gulf airlines to drive Middleast growth to 383m passengers by 2034

Middle East airlines will grow strongly and will see an extra 237 million passengers a year on routes to, from...
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5

Dec 15

OPEC fails to reach deal on production ceiling

OPEC members failed to agree an oil production ceiling on Friday at a meeting after Iran said it would not...
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3

Dec 15

FA chief says ‘significant doubt’ remains over Qatar 2022

Significant doubt remains over whether Qatar will actually host the 2022 World Cup, according to English Football Association chairman Greg...
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3

Dec 15

Catering to the connected traveler

Technology is changing every aspect of travel and the air transport industry is shifting towards a new era of continuous...
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3

Dec 15

Malaysian Airlines inks Emirates deal to boost turnaround plan

Malaysia Airlines has signed a deal to expand a partnership with Emirates airline, which will also see it exit some...
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3

Dec 15

Saudi Arabia plans $200bn construction spend in two years

Saudi Arabia is likely to remain the dominant construction market in the GCC for the foreseeable future with an estimated...
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1

Dec 15

Oil prices set for 10% fall in November as supply glut persists

Oil prices set for 10% fall in November as supply glut persists: Oil prices on Monday were on course to...
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30

Nov 15

Coca-Cola likely to enter pure dairy segment, to compete with Amul, Britannia and Nestle

Coca-Cola likely to enter pure dairy segment, to compete with Amul, Britannia and Nestle: Soda and juice maker Coca-Cola is...
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30

Nov 15

India’s GDP grows at 7.4% in Q2 of FY16; manufacturing grows at robust 9.3%

India's GDP grows at 7.4% in Q2 of FY16; manufacturing grows at robust 9.3% India's Gross Domestic Product (GDP) for...
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30

Nov 15

Climate plans of poorest nations to cost $1 trillion

Climate plans of poorest nations to cost $1 trillion: The world's 48 poorest countries will need to find around a...
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30

Nov 15

Mideast leads world with 4.6pc air passenger growth

Mideast leads world with 4.6pc air passenger growth: The Middle East is leading the world with air passenger demand expected...
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30

Nov 15

Oil prices set for 10% fall in November as supply glut persists

Oil prices set for 10% fall in November as supply glut persists: Oil prices on Monday were on course to...
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29

Nov 15

Dubai Ruler wants solar panels on every roof by 2030

Dubai Ruler wants solar panels on every roof by 2030: Dubai will invest billions of dollars in clean energy as...
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29

Nov 15

Qatar bans contractors from leaving country

Qatar bans contractors from leaving country: Qatar has banned contractors from leaving the oil-rich country as it carries out a...
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29

Nov 15

India may spend $95 billion on railways over 5 years

India may spend $95 billion on railways over 5 years: Morgan Stanley: India is expected to spend a whopping USD 95...
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29

Nov 15

Experts bet on RBI to hold rates steady at Tuesday’s policy meet

Experts bet on RBI to hold rates steady at Tuesday's policy meet: After giving a booster dose of 50-basis point rate...
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29

Nov 15

Iran offers 50 oil projects to foreign investors

Iran offers 50 oil projects to foreign investors: Iran offered on Saturday about 50 oil and gas projects to be...
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29

Nov 15

Saudi may lift cement, steel export curbs

Saudi may lift cement, steel export curbs: Saudi Arabia is considering lifting partial export bans on cement and steel to...
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28

Nov 15

Bahrain subsidy cuts likely to hit real estate market demand

Bahrain subsidy cuts likely to hit real estate market demand: Plans by the Bahraini government to remove fuel and utility...
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28

Nov 15

Saudi money supply, loan data show economy slowing

Saudi money supply, loan data show economy slowing: Saudi Arabian money supply and bank lending figures show the economy of...
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28

Nov 15

Canadian investors say keen to take on delayed $6bn Dubai Pearl

Canadian investors say keen to take on delayed $6bn Dubai Pearl: A Canadian Investment Company has said it is looking...
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27

Nov 15

Risk management, SME financing top Islamic banks agendas

Risk management, SME financing top Islamic banks agendas: Islamic banks around the globe view risk management, equity financing and deepening...
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27

Nov 15

Retailer Geant plans new hypermarkets in UAE, Bahrain

Retailer Geant plans new hypermarkets in UAE, Bahrain: Géant, the fifth largest hypermarket chain in the world and a dominant...
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27

Nov 15

Emirates said to boost India’s GDP by $848m per year

Emirates said to boost India's GDP by $848m per year: Emirates Airline has contributed more than $848 million annually to...
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25

Nov 15

Moody’s investor service has stated that failure of economic reforms in India could hamper investments.

Moody's investor service has stated that failure of economic reforms in India could hamper investments.
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25

Nov 15

Tata Steel likely to raise $1.5 billion

Tata Steel likely to raise $1.5 billion to refinance debt and thereby reduce interest cost.
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25

Nov 15

US jobless claims fall more than expected

US jobless claims fall more than expected: The number of Americans filing for unemployment benefits fell more than expected last...
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25

Nov 15

India’s crude oil import bill is likely to dip by 35 per cent to $73 billion this fiscal as global energy prices slumped on weak demand

India's crude oil import bill is likely to dip by 35 per cent to $73 billion this fiscal as global...
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25

Nov 15

Spice Jet has become the world’s top-performing airline stock

Spice Jet has become the world's top-performing airline stock, surging more than four-fold over the past year, as the aviation...
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25

Nov 15

US airlines report surging employment levels, despite claims Gulf carriers are ‘harming American jobs

US airlines report surging employment levels, despite claims Gulf carriers are 'harming American jobs: US airlines reported their 22 consecutive...
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25

Nov 15

OPEC to stay the course despite fears of $20 oil

OPEC to stay the course despite fears of $20 oil: OPEC is determined to keep pumping oil vigorously despite the...
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25

Nov 15

Bahrain to scrap power subsidies for expats, big businesses

Bahrain to scrap power subsidies for expats, big businesses: Bahrain is set to make significant subsidy changes in electricity and...
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25

Nov 15

Saudi considering subsidy cuts; VAT

Saudi considering subsidy cuts; VAT: Saudi Arabia Deputy Crown Prince Mohammed bin Salman has said that govt may reduce energy...
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25

Nov 15

Middle East hotel occupancy rates drop to 67.4pc

Middle East hotel occupancy rates drop to 67.4pc: Occupancy rate of hotels in Middle East dropped by 4.6 compared to...
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25

Nov 15

Dubai unveils plan to grow to four times its size

Dubai unveils plan to grow to four times its size: Dubai Municipality has drawn up plans to expand Dubai so...
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25

Nov 15

Dubai property market likely to bottom out by end-2016

Dubai property market likely to bottom out by end-2016: House prices in Dubai are likely to continue to decline for...
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24

Nov 15

Sebi may soon allow ecommerce companies to sell mutual funds online in India

Sebi may soon allow ecommerce companies to sell mutual funds online in India: You could soon buy into schemes of...
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24

Nov 15

Qatar to waive $1 billion penalty on India for lower gas offtake

Qatar to waive $1 billion penalty on India for lower gas offtake : In a significant development, Qatar has agreed to...
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24

Nov 15

One in six UAE residents say have delayed, missed 2015 debt payment

One in six UAE residents say have delayed, missed 2015 debt payment: 50% of UAE residents are “highly stressed" about...
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24

Nov 15

Sheikh Mohammed sets up $544m innovation fund

Sheikh Mohammed sets up $544m innovation fund: HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of...
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24

Nov 15

Gulf banks rush to loan market to cope with liquidity squeeze

Gulf banks rush to loan market to cope with liquidity squeeze: Gulf banks are rushing to raise money via the...
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23

Nov 15

Nearly a quarter of foreign buyers in Turkish real estate come from the Gulf region

Nearly a quarter of foreign buyers in Turkish real estate come from the Gulf region with a 500 percent increase...
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23

Nov 15

Bahrain set to double hotel service fees

Bahrain set to double hotel service fees: Bahrain’s Industry, Commerce and Tourism Ministry has told hotel owners that there are...
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23

Nov 15

Saudi Arabia imposes 2.5pc fee on undeveloped land

Saudi Arabia imposes 2.5pc fee on undeveloped land: Saudi Arabia's cabinet, in a meeting chaired by King Salman, imposed a...
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23

Nov 15

$109m deal signed to build Palm Jumeirah residential project

$109m deal signed to build Palm Jumeirah residential project: Palma Development has announced that Khansaheb will be the main contractor...
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23

Nov 15

Largest container vessel

Largest container vessel: DP World’s flagship Jebel Ali Port has received the world’s largest container vessel, the Magleby Maersk, which...
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23

Nov 15

Dubai Taxi fare increases by 5 per cent

Dubai Taxi fare increases by 5 per cent. The fare of a trip on Dubai Taxi has been increased by...
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23

Nov 15

HSBC cuts 150 UAE jobs among thousands globally

HSBC cuts 150 UAE jobs among thousands globally: HSBC bank has let go of about 150 employees in the UAE,...
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23

Nov 15

UAE’s third largest lender said to cut close to 100 jobs

UAE's third largest lender said to cut close to 100 jobs: First Gulf Bank (FGB), the third-largest lender by assets...
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23

Nov 15

UAE aluminum major picks arrangers for $5bn loan

UAE aluminum major picks arrangers for $5bn loan: State-owned Emirates Global Aluminum (Ega), one of the largest aluminum firms in...
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22

Nov 15

India looks to double coal output by 2020.

India looks to double coal output by 2020.
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22

Nov 15

Russian President’s visit to Iran on Monday.

Russian President’s visit to Iran on Monday.
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22

Nov 15

Kuwait’s government is studying whether to raise fees for its services.

Kuwait's government is studying whether to raise fees for its services.
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22

Nov 15

Dubai-Al Ain road to become 12-lane highway.

Dubai-Al Ain road to become 12-lane highway.
Read More

22

Nov 15

The African opportunity

The African opportunity: Full of potential for brave investors: There is money to be made, you just have to be...
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22

Nov 15

S&P cuts Oman credit rating as budget deficit widens

S&P cuts Oman credit rating as budget deficit widens: Credit rating agency Standard & Poor's has downgraded Oman's sovereign debt...
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22

Nov 15

Perfect time’ for GCC to start levying taxes, say experts

Perfect time' for GCC to start levying taxes, say experts: The Gulf region faces a "pressing need" to introduce taxes...
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22

Nov 15

West likely to extend Russia sanctions by 6 months

West likely to extend Russia sanctions by 6 months: Western leaders who met on the margins of last week's Group...
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22

Nov 15

Iran woos global giants with new energy deal terms

Iran woos global giants with new energy deal terms: Iran's new oil and gas contracts will have flexible terms that...
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22

Nov 15

The oil market will be more balanced next year, says OPEC official

The oil market will be more balanced next year, says OPEC official
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22

Nov 15

Mideast online travel market to reach $35bn

Mideast online travel market to reach $35bn: The Middle East’s online travel market is forecast to almost double in value...
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22

Nov 15

Oil at $30 ‘could drain Saudi FX at $18bn a month

Oil at $30 ‘could drain Saudi FX at $18bn a month: The foreign exchange (FX) reserve drain on Saudi Arabia...
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22

Nov 15

Changes introduced to keep UAE debtors out of jail

Changes introduced to keep UAE debtors out of jail: Mediation is to be introduced to reduce the number of people...
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21

Nov 15

Lenovo wants to make and sell products in India

Lenovo wants to make and sell products in India: Yang Yuanqing, chairman of Lenovo, says the company will increase investments in...
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21

Nov 15

Bonanza for Indian government employees as 7th Pay Panel recommends 23.55% hike

Bonanza for Indian government employees as 7th Pay Panel recommends 23.55% hike: The Seventh Central Pay Commission has recommended a 23.55%...
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21

Nov 15

Air freight traffic at Dubai World Central (DWC) rose 15.9 per cent

Air freight traffic at Dubai World Central (DWC) rose 15.9 per cent during first nine months of the year. The year-to-date...
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20

Nov 15

Oman Air launches major expansion of flights to India

Oman Air launches major expansion of flights to India: Oman Air is set to increase frequencies on four of its key...
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20

Nov 15

Saudi riyal hits 12-year low in one-year forwards market

Saudi riyal hits 12-year low in one-year forwards market: The Saudi riyal hit its lowest against the dollar in more than...
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20

Nov 15

Dubai hotels cut daily rates to stimulate falling demand

Dubai hotels cut daily rates to stimulate falling demand: Dubai hotels are cutting average daily rates (ADR) in a bid to...
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20

Nov 15

Gulf buyers invest $11.5bn in H1 global office market despite cheap oil

Gulf buyers invest $11.5bn in H1 global office market despite cheap oil: Middle East buyers remained very active in the global...
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18

Nov 15

Organic Growth for Clear Label

Organic Growth for Clear Label: Clear label" established itself as a key trend in 2015, with greater transparency and the focus...
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18

Nov 15

Crowd funding website reports $6.8m of funding to SMEs in 2015:

Crowd funding website reports $6.8m of funding to SMEs in 2015: Beehive is a type of crowd funding website that links...
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18

Nov 15

Marriott International will buy Starwood Hotels & Resorts Worldwide for $12.2 billion

Marriott International will buy Star wood Hotels & Resorts Worldwide for $12.2 billion to create the world's largest hotel chain with...
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18

Nov 15

Dubai bank launches savings account linked to fitness.

Dubai bank launches savings account linked to fitness.
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18

Nov 15

Growth in the Gulf jobs market registered a big slowdown

Growth in the Gulf jobs market registered a big slowdown in October, as economies in the region continued to be impacted...
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18

Nov 15

Kuwait’s Agility

Kuwait's Agility: the largest Gulf Arab transport logistics company plans to raise around $1 billion to fund future growth across its...
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18

Nov 15

Pricing of Luxury goods

Pricing of Luxury goods: The number one challenge facing most luxury brands is establishing the right pricing model.  The rise of...
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18

Nov 15

Mideast luxury market growth stalls

Mideast luxury market growth stalls: The Middle East personal luxury goods market plateaued in 2015, impacted by a reduction of...
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18

Nov 15

New aluminum casting unit to be set up in Bahrain

New aluminum casting unit to be set up in Bahrain: Mumtalakat has signed a joint venture agreement with India's Synergies...
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18

Nov 15

Dubai’s office market

Dubai’s office market is showing signs of stabilizing, with average rents remaining virtually unchanged across all the city’s major submarkets...
Read More

18

Nov 15

Dubai’s government

Dubai's government is seeking more investment from the financial sector in its infrastructure projects, including those related to the Expo...
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