Economic & Business News

BDB closes $100m venture capital fund

(Trade Arabia - 6/25/2018 7:23:00 AM)

Bahrain Development Bank (BDB) has announced that the Al Waha Fund of Funds has successfully closed its $100 million fundraising round, making it the first active venture capital fund of funds in the region.

The announcement marks an important ...

Abu Dhabi completes $28m infrastructure projects

(Trade Arabia - 6/25/2018 7:20:00 AM)

The Abu Dhabi City Municipality said it has completed Dh102.8 million ($28 million) worth of infrastructure projects including the Nahda Al Askariyah, Baniyas and Al Shawamekh internal roads development work.

The projects saw the construction ...

Work in full swing at $1.2bn Abu Dhabi shopping mall

(Trade Arabia - 6/25/2018 7:17:00 AM)

Work is in full swing at Abu Dhabi’s $1.2 billion Reem Mall, the emirate's leading retail, dining and leisure destination, with the substructure nearly finished and several sections of floor already completed, said a top official.

Unveiling the ...

New investment models needed to boost MENA oil, gas competitiveness

(Saudi Gazette - 6/24/2018 8:45:00 AM)

New investment models will encourage optimal development in the oil and gas sector, Majid Jafar, CEO of Crescent Petroleum told OPEC ministers and industry leaders at the OPEC Seminar in Vienna last June 20. The private sector in MENA can be an important ...

UAE regulator asks public firms to declare exposure to Abraaj

(The National - 6/24/2018 8:38:00 AM)

UAE-listed companies, including some of the country’s biggest banks, have been asked to declare their exposure to embattled private equity firm Abraaj, which filed for provisional liquidation last week.

The Securities & Commodities Authority ...

Private deposits in Oman's banks reach OMR12.47bn

(Times of Oman - 6/24/2018 8:32:00 AM)

Private deposits at commercial banks in the Sultanate at the end of the first quarter in 2018 witnessed a slight decline by 0.77 per cent to OMR12.47 billion, compared to OMR12.57 billion in the corresponding period last year, according to a monthly ...

Oman's FDI rises 15% in fourth quarter of 2017

(Times of Oman - 6/24/2018 8:22:00 AM)

Foreign Direct Investment (FDI) in the Sultanate rose by 15 per cent, to OMR9.34 billion in 2017, from OMR8.09 billion in the fourth quarter in 2016.

Among various countries, the United Kingdom topped the list of investors in the Sultanate, ...

Khalifa Fund signs MoU with Majid Al Futtaim Hypermarkets to support local entrepreneurs

(Gulf News - 6/24/2018 8:15:00 AM)

Khalifa Fund for Enterprise Development recently signed a Memorandum of Understanding with Majid Al Futtaim Hypermarkets as part of its efforts to support Khalifa Fund members and promote their entrepreneurship, according to a statement released on ...

Ithraa: Enhancing Oman’s investment appeal globally

(Oman Daily Observer - 6/24/2018 8:00:00 AM)

The global economy is expected to double in size by 2020 — an expansion that will also unleash new and significant opportunities for Omani companies in terms of employment generation, development of new technologies, transition to a low-carbon circular ...

Oman antimony-gold project eyes $245m revenues

(Oman Daily Observer - 6/24/2018 7:57:00 AM)

An antimony roaster backed by Oman Investment Fund (OIF), a sovereign wealth fund of the Sultanate of Oman, has projected annual revenues of around $245 million from sales of antimony products and gold ingots when production ramps up by next year. ...