Economic & Business News

UAE budget to boost real estate sector in medium term:JLL

(Saudi Gazette - 10/17/2018 8:06:00 AM)

The UAE cabinet announced a new federal budget of AED 60.3 billion in September, paving the way for a significant increase in government spending that will in turn benefit the Dubai real estate market, revealed JLL’s latest Q3 report.

The ...

King Abdullah Port major participant in UAE Maritime Week

(Saudi Gazette - 10/17/2018 8:04:00 AM)

King Abdullah Port has announced its participation as a sponsor and speaker at the UAE Maritime Week, the Middle East’s first comprehensive maritime event. The port’s participation comes in an effort to capitalize on the major opportunities offered by ...

Maalem Financing raises $26m in debut sukuk

(Arab News - 10/17/2018 8:01:00 AM)

Saudi Arabia’s Maalem Financing has raised SR100 million ($26.6 million) from a debut sale of Islamic bonds, or sukuk, as the firm seeks to develop a crowdfunding product and expand its operations, a senior executive said on Tuesday.

The sukuk ...

CBO issues treasury bills worth OMR30mn

(Times of Oman - 10/17/2018 7:54:00 AM)

Oman’s central bank raised OMR30 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, from October 17, until November 14, 2018.

The average accepted price reached 99.830 for every ...

Middle East investment banking fees down 8% in first nine months

(Gulf News - 10/17/2018 7:51:00 AM)

Middle Eastern & North African investment banking fees totalled an estimated $684 million (Dh2.5 billion) during the first nine months of 2018, 8 per cent less than the value of fees recorded during the same period in 2017, according to the latest data ...

UAE leads GCC in global competitiveness

(Gulf News - 10/17/2018 7:50:00 AM)

The UAE has been ranked 27th in the World Economic Forum’s Global Competitiveness Report 2018. With a competitiveness index score of 73.4, the UAE leads the Gulf Cooperation Council (GCC) region in the global ranking of 140 countries.

Saudi ...

Qatar needs strategy shift to maintain global LNG title

(The Peninsula - 10/17/2018 7:47:00 AM)

With major changes happening in the global LNG space, both on the supply and demand sides, Qatar needs to readjust its strategy in order to maintain its leading position as global LNG supplier.

Delivering Carnegie Mellon University-Qatar Dean’s ...

Sharjah Chamber, Etihad Credit Insurance to support exporters

(The Gulf Today - 10/17/2018 7:25:00 AM)

The Sharjah Chamber of Commerce and Industry (SCCI) and the Etihad Credit Insurance (ECI) have held discussions on organising joint programmes to support local exporters in Sharjah, as well as encourage small and medium industrial enterprises to enhance ...

VAT refund procedures simplified for UAE home buyers

(Trade Arabia - 10/17/2018 7:20:00 AM)

The UAE's Federal Tax Authority (FTA) has simplified the procedures to reclaim value added tax (VAT) for Emirati nationals who are building new residences, according to a report.

The FTA stressed the need for citizens who apply for VAT refunds ...

Oman to develop $1.6bn solar projects in 5 years

(Trade Arabia - 10/17/2018 7:19:00 AM)

Oman is planning to develop four utility-scale solar-based projects worth RO616 million ($1.6 billion) at key locations across the sultanate over the next five years, said a report.

These renewable energy projects will boast a total capacity of ...