Economic & Business News

Saudi tech startup sector rapidly evolving to help in economic expansion

(Saudi Gazette - 12/10/2018 6:08:00 AM)

Saudi Arabia’s tech startup ecosystem may be nascent, but is rapidly evolving to support economic growth, a new report by Wamda, in collaboration with OC&C Strategy Consultants, shared at the Riyadh edition of Wamda’s flagship Mix N’ Mentor event held ...

Leading Emirates health care, education investor eyes Saudi Arabia

(Arab News - 12/10/2018 6:04:00 AM)

Since launching Foundation Holdings in 2016, Abhishek Sharma has scoured the GCC and India for investment opportunities. Now, the prominent UAE health care and education investor is closing in on targets in Saudi Arabia.

“We are eyeing two ...

Qatar Chamber, Indonesian delegation discuss promoting cooperation

(The Peninsula - 12/10/2018 6:00:00 AM)

The Qatar Chamber (QC) has discussed prospects of promoting cooperation in different investment fields, with a visiting Indonesian trade delegation headed by Head of Investment Division at the Indonesian Ministry of Tourism.

During the meeting, ...

Boosting trade & investment key to GCC growth: IMF

(The Peninsula - 12/10/2018 5:57:00 AM)

Trade and investments are key to the diversification and growth in the GCC. Diversification of the GCC economies, supported by greater openness to trade and higher foreign investment, can have a large impact on growth.

Such measures can support ...

Economic recovery expected to improve profitability of GCC banks in 2019

(Gulf News - 12/10/2018 5:36:00 AM)

The GCC banking sector is set for improved profitability, better asset quality and stable balance sheet strength in 2019, thanks to a better operating environment supported by higher government spending, higher oil prices and government stimulus ...

Kuwait fund loans $10 mln to Madagascar

(Arab Times - 12/10/2018 5:31:00 AM)

The Republic of Madagascar and the Kuwait Fund for Arab Economic Development (KFAED) have inked a loan agreement worth KD 3 million ( $10 million) for funding a river bridge project.

The deal was signed by Director General of KFAED Abdulwahab ...

Sharjah and Azerbaijan to strengthen economic ties

(The Gulf Today - 12/10/2018 5:27:00 AM)

The Sharjah Chamber of Commerce and Industry, SCCI, held discussions with a trade delegation from Azerbaijan on developing economic cooperation, promoting mutual investments, exchanging trade missions, and building partnerships between the business ...

Sharjah FDI Forum 2018 begins today

(The Gulf Today - 12/10/2018 5:25:00 AM)

The fourth edition of the Sharjah FDI Forum will be held on Monday under the patronage of His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah.

The two-day event titled ‘Shaping the Future of ...

Dubai receives 11.58m visitors in nine months

(The Gulf Today - 12/10/2018 5:24:00 AM)

Dubai remains on track to becoming the most visited city for global travel, business and events, according to the latest visitation figures released by Dubai’s Department of Tourism & Commerce Marketing (Dubai Tourism).

The emirate welcomed ...

Sharjah 2019 budget sees $7bn spending

(Trade Arabia - 12/10/2018 5:19:00 AM)

The UAE emirate of Sharjah has announced a budget with total expenses of Dh25.7 billion ($7 billion) for 2019, marking a 10 per cent growth in spending compared to its 2018 budget.

The budget projects an increase in spending on public safety as ...