Economic & Business News

U.A.E. to Postpone Changes to How It Calculates Key Rate

(Bloomberg - 1/18/2018 2:45:00 PM)

The United Arab Emirates central bank’s plan to change the way a key interest rate used to price debt is calculated has been postponed, according to two people familiar with the matter. For several months, banks that form part of a panel that contributes ...

Contract signed for work on world's tallest skyscraper in Jeddah

(Reuters - 1/18/2018 1:05:00 PM)

Real estate developers seeking to build the world’s tallest skyscraper in Jeddah have signed a 620 million riyal ($165 million) contract for infrastructure work at the site, signalling the project will go ahead despite a weak economy. The contract was ...

Addressing water efficiency key to GCC chemical producers

(Saudi Gazette - 1/18/2018 7:36:00 AM)

Water scarcity is not just a global but also important regional concern, and part of UN Sustainable Development Goals. Albeit abounding in rich hydrocarbon reserves, the Arabian Gulf is dominated by a harsh desert terrain, and lacks access to crucial ...

Corporate governance law to attract more investors to Saudi market

(Saudi Gazette - 1/18/2018 7:35:00 AM)

Amid all the fast-paced procedures taken by the Kingdom’s different authorities to create an attractive atmosphere for investors, one of these steps taken was the issuance of the new “corporate governance regulations” by the CMA in April 2017 and is ...

Qatar market dragged down by No. 2 bank

(Arab News - 1/18/2018 7:30:00 AM)

Gulf stock markets were mixed on Wednesday with Masraf Al Rayan, Qatar’s second-largest bank by market value, pulling the Qatari stock index 0.2 percent lower. Shares in Masraf Al Rayan sank 2.7 percent after the bank reported a 9.6 percent drop in ...

Federal Tax Authority extends deadline for filing VAT returns

(The National - 1/18/2018 6:17:00 AM)

The Federal Tax Authority (FTA) said yesterday it has extended the period for filing VAT returns for some companies, a move that will give those struggling with the implementation of the 5 per cent levy time to correctly comply with procedures. The ...

Substantial rise in UK exports to Qatar

(Gulf Times - 1/18/2018 6:10:00 AM)

UK exports to Qatar have risen substantially over the past year reflecting the strong trading relations between the countries. Speaking to Gulf Times, Baroness Fairhead, Minister of State for Trade and Export Promotion at the Department for International ...

Expo Turkey by Qatar opens at DECC

(The Peninsula - 1/18/2018 6:02:00 AM)

Some 111 Turkish companies are showcasing their products and services at the second edition of the Expo Turkey by Qatar, which was inaugurated yesterday by the Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani, at the Doha Exhibition ...

Dubai Business Events inks 6 MoUs in 2017

(Gulf News - 1/18/2018 5:56:00 AM)

Dubai Business Events (DBE), the government authority responsibility for attracting events and conventions to the emirate, said on Wednesday that it had inked a total of six Memorandums of Understanding (MoUs) throughout 2017, partnering with businesses ...

GCC needs $131bn in power investment over next five years:Report

(Oman Daily Observer - 1/18/2018 5:53:00 AM)

A new report from Middle East Electricity (MEE), the region’s leading annual international trade event for the power industry, states the GCC requires a combined $131 billion worth of investment in electricity generation, transmission and distribution ...

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