Summary Of Daily News Updates
  • Dec 26,2015
  • All

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 these being the UAE where salaries are expected to increase by 0.9 per cent, taking inflation into account. Healthcare is the best sector to look for Job. CEA-led committee suggests GST rate of 17-18 percent. GCC states 'agree on key issues for launching VAT. Regulation hits business dealings of UAE and US banks. Qatar likely to see small fiscal deficit in 2016, says Moody's. Qatar says oil prices won't affect FIFA World Cup 2022 projects. Oil Price drop will hurt GCC construction in 2017, says CEO of NAPCO. Saudi Aramco outlines plan to spend $300bn over 10 years. Saudi Arabia plans $200bn constructions spend in two years. Oman Oil plans to invest $4bn to boost output despite low prices. Oman contractors warn of major construction job losses. Bahrain subsidy cuts 'insufficient' to offset cheap oil, says Fitch: New expat tax proposal could earn extra $1bn for Bahrain. Kuwait planning to raise corporate tax, cut subsidies. Iran Businesses feel the squeeze as Tehran tightens up on tax: OPEC fails to reach deal on production ceiling. OPEC November oil output rises, led by Iraq, Saudi. Oil price slumps to lowest mark in almost seven years Major Dubai projects may be phased in amid cheap oil impact. Malaysian Airlines inks Emirates deal to boost turnaround plan. Gulf airlines to drive Middleast growth to 383m passengers by 2034. Dubai's Depa plans job cuts across global workforce. France's BNP Paribas to close Dubai office, axe 40% of Bahrain staff.

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