Economic & Business News

Major Saudi-China investment forum set in Jeddah

(Trade Arabia - 8/23/2017 7:41:00 AM)

Saudi Arabia's Ministry of Energy, Industry and Mineral Resources will hold a Saudi-Chinese investment forum titled "Belt and Road Initiative and Vision 2030, a Joint Vision for Cooperation and Prosperity" in Jeddah on Thursday. The forum, which ...

Bahrain medical insurance grows 19pc in 2016

(Trade Arabia - 8/23/2017 7:40:00 AM)

Bahrain’s medical insurance led the sector growth at 19 per cent in 2016 reaching BD62.11 million ($163 million) from BD52.20 million in 2015, representing almost 23 per cent of the total premiums during the year, the Central Bank said. The kingdom’s ...

GCC corporate earnings to remain stable in 2017, report says

(The National - 8/23/2017 7:39:00 AM)

Corporate earnings of GCC-listed firms look stable this year, but political uncertainties and weaker economic growth in the backdrop of low oil prices have made it difficult to be bullish about the markets, according to a market report. The price of ...

Saudi Arabia on track to diversify economy

(The National - 8/23/2017 7:37:00 AM)

The road to change is never easy. Though Saudi Arabia has hard work ahead, it has embarked on new initiatives and continues to widen the scope of existing plans to transform the kingdom’s economy away from its energy reliance towards a more diversified ...

Chinese group seeks crude from Oman, other GCC states for its planned

(Times of Oman - 8/23/2017 5:48:00 AM)

A Chinese group, which is planning to build a second major refinery in Duqm, is trying to negotiate with the oil and gas ministries of Oman and some other Gulf countries for securing crude oil for its proposed refinery. Apart from Oman, the Chinese group ...

Central Bank of Oman bats for financial inclusion

(Oman Daily Observer - 8/23/2017 5:42:00 AM)

The Central Bank of Oman (CBO) is strongly advocating for financial inclusion in the Sultanate by encouraging commercial banks to ramp up the provision of banking services to under-served sections of the community, as well as in under-banked areas of the ...

Saudis could get $21b non-oil boost in 2018, BofA Says

(Gulfnews - 8/23/2017 5:36:00 AM)

Saudi Arabia’s non-oil revenue could surge by about 80 billion riyals ($21.3 billion) next year, according to Bank of America Merrill Lynch, boosting the kingdom’s efforts to reduce the economy’s reliance on crude. The increase would be driven by the ...

Qatar deposited $6.9b in banks in July to offset crisis outflows

(Gulfnews - 8/23/2017 5:33:00 AM)

Qatar’s government deposited nearly $7 billion in the local banking system during July to offset a pull-out of funds by banks from other Arab states due to the region’s diplomatic crisis, Qatari central bank data showed on Tuesday. Foreign customers’ ...

Expo 2020 Dubai, EIPA to protect creativity

(The Gulf Today - 8/23/2017 5:29:00 AM)

Expo 2020 Dubai Bureau announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with the Emirates Intellectual Property Association, EIPA, to raise awareness about the importance of protecting intellectual property. The MoU was signed ...

UAE Excise Tax effective from Oct.1

(The Gulf Today - 8/23/2017 5:27:00 AM)

The Excise Tax Law shall come into play effective October 1st, 2017, in the UAE, Ministry of Finance has told Emirates News Agency, WAM. “The Tax shall impact all excise goods consumed inside the country, including all the country’s free zones and ...

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