Economic & Business News

ICD gains from robust capital position and strong liquidity

(Saudi Gazette - 8/16/2018 9:00:00 AM)

The Islamic Corporation for the Development of the Private Sector (ICD, Aa3 stable) benefits from a robust capital position and strong liquidity, although its weak asset quality remains a challenge, says Moody's Investors Service in an annual ...

Governor of Saudi Customs inspects Jadidat Arrar Port to ensure smooth processes

(Saudi Gazette - 8/16/2018 8:58:00 AM)

Governor of the Saudi Customs General Authority Ahmad bin Abdulaziz Al-Hakbani visited Jadidat Arrar Customs Port on Sunday (Aug. 4, 2018) to oversee preparations taking place for welcoming Haj pilgrims set to arrive at the port.

His visit ...

UAE tops Arab world in competitiveness

(The National - 8/16/2018 8:54:00 AM)

The UAE, which leads the Arab region in terms of competitiveness, and is home to many tech firms, needs to increase efforts to expand the use of latest digital technologies to further enhance its dominance.

Research by the World Economic Forum ...

Four-day Eid holidays for banks in the UAE

(Gulf News - 8/16/2018 7:43:00 AM)

Banks operating in the UAE will observe a four-day holiday on the occasion of Eid Al Adha. The Central Bank of UAE (CBUAE) has notified banks that the holidays will start on Monday, August 20, and that work will resume on Saturday, August 25.


Qatar promises $15b investment in Turkey: presidency

(Gulf News - 8/16/2018 7:40:00 AM)

Qatar pledged $15 billion (Dh55.09 billion) of investment in Turkey that will be channeled into Turkish financial markets and banks, a government source told Reuters yesterday. The investment package was announced after Qatar’s Emir Tamim Bin Hamad Al ...

Oman’s first wind farm set to be high-tech

(Oman Daily Observer - 8/16/2018 7:28:00 AM)

Oman’s maiden wind farm project, currently in the early stages of implementation in Dhofar Governorate, will feature desert-resistant turbines and other cutting-edge technologies to ensure they deliver peak output even in challenging environmental ...

$100m alloy wheel project to come up in Suhar

(Oman Daily Observer - 8/16/2018 7:26:00 AM)

Contributing to Oman’s economic diversification efforts, Sohar Aluminium partnered with their latest downstream customer, Synergies Castings Ltd, the leading manufacturer of aluminium alloy wheels in India. The agreement will begin with the construction ...

UAE to block ships from blacklisted countries

(Trade Arabia - 8/16/2018 7:15:00 AM)

Emirates Classification Society (Tasneef) said that it is ready for the decision the Federal Transport Authority – Land and Maritime (FTA) prohibiting vessels carrying flags of countries that are blacklisted by maritime authorities to enter the UAE’s ...

GCC debt issuance to exceed $50bn in 2018: Fisch

(Trade Arabia - 8/16/2018 7:13:00 AM)

GCC sovereign issuance is on track to exceed $50 billion in 2018, surpassing last year’s levels, according to Zurich-based Fisch Asset Management, a specialist in select investment strategies.

Two multi-tranche sovereign bond transactions of ...

Kuwait aspires to be active aviation center, says official

(Arab Times - 8/16/2018 7:05:00 AM)

Kuwait through its new visionary schemes seeks to be an active hub for air transportation for passengers and cargo, affirmed Directorate General of Civil Aviation Chairman Sheikh Salman Sabah Al-Salem Al-Humoud Al- Sabah on Wednesday.

Sheikh ...