Economic & Business News

Qatar draws on sovereign wealth fund to support struggling economy

(The National - 10/19/2017 9:00:00 PM)

Qatar has been forced to repatriate significant sums from its sovereign wealth fund to shore up its struggling economy, which continues to experience the impact of an economic and political boycott by its Arabian Gulf neighbours and other countries. Ali ...

Saudi Arabia’s PIF sets up real estate refinance company

(The National - 10/19/2017 8:57:00 PM)

The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has set up a real estate refinancing company aimed at boosting home ownership in the kingdom, which suffers from a shortage of affordable housing. The Saudi Real Estate Refinance ...

Abu Dhabi Fund Opens U.S. Office to Manage Venture With SoftBank

(Bloomberg - 10/19/2017 6:16:00 PM)

Abu Dhabi’s Mubadala Investment Co. is opening an office in San Francisco to manage its $15 billion commitment to SoftBank Group Corp.’s Vision Fund. The sovereign fund will work with SoftBank executives in California as it opens its venture capital ...

Saudi’s Sedco takes centre stage at UK ethical forum

(International Investment - 10/19/2017 6:15:00 PM)

Saudi investment company Sedco Capital has visited the UK to participate in the Global Ethical Finance Forum to discuss the interplay between Ethics, Faith, Finance and Impact. The Ethical Finance conference, now in its second year, took place in ...

Dana Gas affirms its operation and production in KRI

(GulfBase.com - 10/19/2017 1:08:00 PM)

Dana Gas affirms that its operations and production in the KRI are proceeding as usual. The Company continues to supply gas to the power stations for production of electricity for the Region. All of the employees of the Company are on site and are ...

Fitch Rates Abu Dhabi Oil Pipeline's Bonds 'AA(EXP)'; Outlook Stable

(Press Release - 10/19/2017 12:45:00 PM)

Fitch Ratings has assigned Abu Dhabi Crude Oil Pipeline LLC's (ADCOP) proposed bonds of USD3.1 billion expected ratings of 'AA(EXP)'. The Outlook is Stable. The proposed bonds include the following: - USD869 million series A bonds due 2029 - USD2.2 ...

Saudi Arabia sets up super energy service company

(Trade Arabia - 10/19/2017 6:50:00 AM)

Saudi Arabia’s Public Investment Fund (PIF) has announced the establishment of a new energy service company, Super Esco, designed to increase energy efficiency across government and public buildings. A Royal Decree has been issued requiring all ...

Jebel Ali Port expands Container Terminal 3 productivity

(Trade Arabia - 10/19/2017 6:49:00 AM)

Dubai-based global marine terminal operator DP World is stepping up container handling productivity at its flagship Jebel Ali Port, by adding 1.5 million TEU (twenty-foot equivalent units) to Container Terminal 3 (T3). The expansion is in response to ...

Dubai's Q3 off-plan sales value jumps 118 per cent

(The National - 10/19/2017 6:45:00 AM)

The value of Dubai’s third quarter off-plan transactions jumped 118 per cent to Dh4 billion from the previous quarter, while there was a decline in the value and volume of sales of completed properties, a real estate consultancy said. The number of ...

Qatar, Indonesia progressing towards economic integration

(The Peninsula - 10/19/2017 6:37:00 AM)

The Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani reaffirmed yesterday that there is a Qatari-Indonesian progress towards achieving economic integration and that there are promising opportunities and flourishing future to ...