Economic & Business News

Qatar’s fiscal and external balances will remain surplus: IMF

(The Peninsula - 11/15/2018 9:01:00 AM)

Significant fiscal and external buffers have enabled Qatar to successfully absorb the adverse shocks from the 2014-16 decline in oil prices and the diplomatic rift. The country’s near- to medium-term outlook remains favorable in the context of relatively ...

Ukraine invites Qatari investors to explore its investment potential

(The Peninsula - 11/15/2018 8:58:00 AM)

The Ukrainian Deputy Prime Minister & Minister of Economic Development and Trade, Stepan Kubiv? said that Qatar is one of his country’s important partners in the Arab world. He said the countries relations are firm and promising and there is a joint ...

CMA suspends KPMG from auditing regulated firms

(Oman Daily Observer - 11/15/2018 8:53:00 AM)

Wielding the whip against dubious practices by audit firms, the Capital Market Authority (CMA) yesterday announced the suspension of well-known audit firm KPMG from auditing entities regulated by the Authority for a period of one year. It marks the first ...

UK sees stronger relations with UAE after Brexit

(The Gulf Today - 11/15/2018 8:47:00 AM)

The UK pavilion reflects so much energy; “you can see it from the sky. Someone told me so. It’s so big. It shows how important our presence in the UAE is for us,” Baroness Rona Fairhead CBE, UK Minister of State for Trade and Export Promotion at the ...

VP enacts changes to DIFC’s legal framework

(The Gulf Today - 11/15/2018 8:43:00 AM)

In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted changes to the Dubai International Financial Centre (DIFC) Authority’s legal and regulatory ...

GCC undersecretaries agree for unified trade law

(Arab Times - 11/15/2018 8:30:00 AM)

GCC undersecretaries have agreed on a unified trade law, said Khaled Al-Fadhel, Kuwait’s commerce and industry ministry undersecretary said Wednesday.

The 898-article law would be divided into four sub-laws and then forwarded to GCC trade ...

Bahrain signs deal for new private aviation terminal

(Trade Arabia - 11/15/2018 8:29:00 AM)

An agreement to transform Bahrain's Civil Aviation Affairs (CAA) building into a private aviation terminal to cater to VIPs and business leaders was signed today at the Bahrain International Airshow.

Bahrain Airport Company (BAC) signed the ...

UAE tax refunds for tourists begins Sunday

(Trade Arabia - 11/15/2018 8:17:00 AM)

The UAE’s Federal Tax Authority said that the digital system for the Tax Refunds for Tourists Scheme will be ready to issue and process VAT refund claims for eligible tourists to recover tax incurred on their purchases as of November 18.

The ...

Gulf Air, Etihad sign MoU to explore alliance opportunities

(Trade Arabia - 11/15/2018 8:14:00 AM)

Gulf Air, the national carrier of Bahrain, and UAE's Etihad Airways are set to explore deeper cooperation following the signing of a Memorandum of Understanding (MoU) at the Bahrain International Airshow.

The wide-ranging MoU covers scope to ...

Saudi Arabia plans $400bn spend on IKTVA programme

(Trade Arabia - 11/15/2018 8:09:00 AM)

Saudi Arabia plans to spend more than SR1.5 trillion ($400 billion) on its In Kingdom Total Value Add (IKTVA) programme in the next 10 years with plans to prepare 360,000 trainees for the labour market by 2030.

IKTVA was designed and launched ...