Economic & Business News

Rasasi reports six per cent growth in Oman for 2017

(Times of Oman - 3/20/2018 5:47:00 AM)

Rasasi Perfumes, one of the leading perfume houses in the Middle East, has recorded a 6 per cent overall increase in Oman for 2017.

Salim Kalsekar, managing director of Rasasi Perfumes, attributes the company’s strong performance to the ...

Qatar’s real estate credit grew 13.2% in Q4, 17

(The Peninsula - 3/20/2018 5:44:00 AM)

Driven by an 8.1 percent growth in Oil & Gas sector, Qatar’s GDP grew by 3.9 percent in September 2017 on quarter-on-quarter basis. The non-oil sector grew by 1.9 percent on Q-o-Q, as the private sector advanced by 2.5 percent, KAMCO’s GCC economic ...

Dubai best globally for infrastructure: Knight Frank

(Gulf News - 3/20/2018 5:33:00 AM)

In a benchmark of Dubai against other key global cities such as London and New York, the city lagged against rivals on issues such as the ease of doing business, but had the best ranked infrastructure of any country listed.

According to data ...

Saudi central bank tweaks loan-deposit policy

(Gulf News - 3/20/2018 5:29:00 AM)

Saudi Arabia’s central bank has instructed banks to change the way they calculate their loan-to-deposit ratios, giving greater weight to long-term deposits in order to permit more lending, according to a report on the Maaal financial news website. The ...

New discovery boosts PDO gas, condensate reserves

(Oman Daily Observer - 3/20/2018 5:23:00 AM)

Petroleum Development Oman (PDO) has confirmed a ‘significant’ gas find with estimated recoverable reserves of more than four trillion cubic feet (TcF) and 112 million barrels of condensate in the northern part of its concession area. The announcement ...

UAE, Turkmenistan open doors for new collaborations

(The Gulf Today - 3/20/2018 5:17:00 AM)

The Dubai Islamic Economy Development Centre (DIEDC) signed a Memorandum of Understanding (MoU) with The State Bank for Foreign Economic Affairs of Turkmenistan (TFEB) to exchange knowledge, experience, and best practices in Islamic economy. The signing ...

KIF 2018 to showcase over $100 billion projects

(The Gulf Today - 3/20/2018 5:16:00 AM)

The State of Kuwait is rolling out investment partnerships and strategic investment opportunities valued at more than $ 100 billion in key economic and social sectors for investors that include information & communications technology, oil & gas, ...

Dubai’s non-oil trade rises to Dhs1.302tr

(The Gulf Today - 3/20/2018 5:15:00 AM)

Dubai’s non-oil foreign trade in 2017 grew Dhs26 billion to reach Dhs1.302 trillion compared to Dhs1.276 trillion in 2016, enhancing Dubai’s position as global hub for trade despite the challenges faced by the global economy.

Dubai’s re-exports ...

Qatar to implement $6bn roads projects this year

(Trade Arabia - 3/20/2018 5:11:00 AM)

Qatar's Public Works Authority (Ashghal) will implement roads and infrastructure projects worth QR21.8 billion ($6 billion) across the country this year, a report said.

The announcement was made by Ashghal at a seminar to brief construction ...

Graft was costing Saudi govt $20bn a year: Crown Prince

(Trade Arabia - 3/20/2018 5:09:00 AM)

The anti-graft crackdown initiated in Saudi Arabia recently was "extremely necessary" because roughly $20 billion of state funds was "disappearing" every year, Saudi Crown Prince Mohammed bin Salman has said in a US television interview.

In ...