Economic & Business News

Saudi Arabia aims to raise mortgage market to SR502bn by 2020

(Arab News - 3/15/2018 7:53:00 AM)

Saudi Arabia has announced plans to boost the size of the mortgage market to SR502 billion by 2020 as part of a comprehensive plan to provide housing finance to its citizens.

The announcement, which aims to ensure the construction of 1.2 ...

Large GCC corporations likely to raise funds from debt markets, Moody's says

(The National - 3/15/2018 7:51:00 AM)

Large Arabian Gulf corporations, including sovereign-owned firms, will likely tap capital markets over the next five years, in the wake of structural reforms by the governments coping with the oil price slump , Moody's Investors Service said.


Islamic financing to outpace conventional banking with sukuks

(The National - 3/15/2018 7:49:00 AM)

Islamic finance is set to outpace the growth of conventional banking as governments increasingly tap the sukuk market and individuals use more Sharia-compliant financial instruments, according to Moody’s Investors Service.

“The Islamic finance ...

Strong growth expected in Islamic finance

(Times of Oman - 3/15/2018 6:21:00 AM)

How the recent and future development of Islamic retail banking, capital markets and Takaful can promote economic growth and expansion in the Sultanate was discussed at the third Islamic Finance News Forum.

At the forum, Khalid Al Kayed, CEO of ...

Outbound remittances from UAE hit more than Dh43 billion

(Gulf News - 3/15/2018 5:50:00 AM)

Expatriates in the UAE continue to send more of their earnings back to their home countries as the US dollar holds strong against several currencies, with remittances in the last quarter alone reaching Dh43.2 billion.

According to the figures ...

NBC incubates three local firms

(Oman Daily Observer - 3/15/2018 5:42:00 AM)

National Business Centre (NBC), which pertains to the Public Establishment for Industrial Estates (PEIE), has signed incubation pacts with three local firms. The first pact was signed with Tawkeed Company, which was established in 2017 to be one of the ...

Foreign investors can own up to 100pc of units in Oman REITs

(Oman Daily Observer - 3/15/2018 5:38:00 AM)

International investors can own up to 100 per cent of units offered by Real Estate Investment Trusts (REITs) under new regulations governing the establishment of these funds that came into force earlier this year, a high-level executive of the Capital ...

Business licensing in Dubai retains momentum

(The Gulf Today - 3/15/2018 5:36:00 AM)

The Department of Economic Development (DED), has issued 1,646 new business licences during February 2018 and completed 23,407 business registration and licencing transactions, as Dubai maintained its ability to attract businesses looking to grow ...

DEWA’s workplace empowers women in society

(Media Office Dubai - 3/15/2018 5:34:00 AM)

Dubai Electricity and Water Authority (DEWA) attaches great importance to women’s empowerment, and provides a conducive and positive work environment that supports female employees and helps them balance their personal and professional lives. This gives ...

UAE first to launch global shipping platform

(The Gulf Today - 3/15/2018 5:34:00 AM)

DHL has unveiled MyDHL+, an industry-leading global shipping application in the UAE, which will bring new levels of speed and simplicity to the cross-border shipping process.

Shippers ranging from small businesses to large global corporations ...