Economic & Business News

Gulf automation industry on track for double digit growth

(Saudi Gazette - 7/16/2018 8:10:00 AM)

The Gulf region’s automation industry is on track for double digit growth over the next five years, as recovering oil prices and government economic diversification plans boost demand for industrial and building automation technologies, according to new ...

UAE banks continue to perform well, with higher profitability

(Saudi Gazette - 7/16/2018 8:08:00 AM)

UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018, leading global professional services firm Alvarez & Marsal (A&M) on Sunday said in its latest UAE Banking ...

Qatar inflation expands 0.4% m-o-m in May 2018

(Gulf Times - 7/16/2018 7:57:00 AM)

Qatar's cost of living, based on consumer prices index (CPI), expanded 0.4% in May 2018 compared to the previous month, owing to higher expenses, particularly towards transportation, food, clothing, recreation and furniture, according to official ...

Dubai government’s China push gets major boost

(Gulf News - 7/16/2018 7:27:00 AM)

Hala China, a Dubai government initiative to attract Chinese tourists, signed a slew of agreements on Sunday morning with local partners such as Emirates, Dubai Parks and Resorts, Bank of China, and UnionPay.

Spearheaded by state-owned firms ...

Made in Qatar’ to open Oman expo in November

(The Peninsula - 7/16/2018 7:22:00 AM)

The second edition of ‘Made in Qatar’ exhibition to be held outside Qatar, will open in Muscat, the capital city of Oman, during November 5-9, in cooperation with the Ministry of Energy and Industry and Qatar Development Bank.

Qatar Chamber ...

Oman’s first local SME consultancy firm marks new milestone

(Oman Daily Observer - 7/16/2018 7:20:00 AM)

Destination Sustainability, Oman’s first local SME consultancy firm specialising in Corporate Sustainability and Social Responsibility officially inaugurated its new offices in Airport Heights. There to mark the start of a new phase of growth for the ...

UAE firm aims further growth in transportation business

(The Gulf Today - 7/16/2018 7:14:00 AM)

Gulf Pinnacle Logistics, one of the leading school bus transport providers in the UAE, aims to sign more than five new schools adding thousands of students by the end of 2018 as the company is in advanced discussions with various schools in the country, ...

ADFD’s development plan hits Dhs84b

(The Gulf Today - 7/16/2018 7:13:00 AM)

In a report celebrating its 47th anniversary, Abu Dhabi Fund for Development, ADFD, announced that it has expended a total of Dhs84 billion to finance approximately 550 projects in 88 beneficiary countries.

Since its inception on 15th July ...

UAE, China model for strong ties

(The Gulf Today - 7/16/2018 7:12:00 AM)

The UAE and China are keen to reinforce and strengthen their overall ties, including in the tourism sector. The strength of their bilateral ties has contributed to the significant growth of the number of Chinese tourists visiting the UAE, which totalled ...

IMF welcomes Bahrain reforms; urges deficit cuts

(Trade Arabia - 7/16/2018 7:01:00 AM)

International Monetary Fund (IMF) directors have welcomed Bahrain authorities’ commitment to continue subsidy reforms, cut non-productive spending, and raise non-oil revenues by introducing a value-added tax by 2019.

Following their ...