Economic & Business News

2018 budget proposals reflect prudent approach

(Oman Daily Observer - 12/18/2017 5:53:00 AM)

Revelations that the 2018 State Budget will be based on an average oil price assumption of $50 per cent — versus $45 per barrel in 2017 — reflect continued caution in fiscal spending by the Omani government despite an uptick in international oil prices, ...

Hamdan bin Rashid calls on all businesses to register for VAT

(Media Office Dubai - 12/18/2017 5:51:00 AM)

H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, has called on all businesses to comply with the executive regulations of the Federal Law No. 08 of 2017 on Value Add Tax, VAT, and register online via the ...

ADFD allocates Dhs10.5b for projects in Bahrain

(The Gulf Today - 12/18/2017 5:49:00 AM)

A delegation from Abu Dhabi Fund for Development, ADFD, have visited Bahrain to review the progress of a number of development projects financed by the fund in the country. ADFD has allocated Dhs10.5 billion towards financing 26 development projects in ...

Foundations laid for UAE Pavilion at Expo

(The Gulf Today - 12/18/2017 5:46:00 AM)

Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Expo 2020 Dubai Higher Committee, Chairman of Dubai Civil Aviation Authority and Chief Executive of Emirates Group, laid the foundations for the UAE Pavilion at Expo 2020 Dubai on Sunday. The ceremony, ...

Dubai real estate market an 'investment destination'

(Trade Arabia - 12/18/2017 5:41:00 AM)

UAE-based Arenco Real Estate sees a stronger real estate market for Dubai in the coming years due to unlimited opportunities that are open and available to investors. Home to more than 200 nationalities, Dubai is one of the world’s most diverse places to ...

UAE-Japan trade volumes hit $25bn in 2016

(Trade Arabia - 12/18/2017 5:40:00 AM)

Trade volumes between the UAE and Japan reached $25 billion last year, representing 32 per cent of Japan’s entire trade with Middle Eastern countries, business leaders said at a key meeting in Sharjah, UAE. The roundtable was hosted by Invest in Sharjah ...

Forum presents innovative solutions in childhood obesity

(Saudi Gazette - 12/17/2017 7:45:00 AM)

The fight against childhood obesity has found strong and determined allies in both public and private sectors globally, and has spurred new approaches aimed at addressing the growing cases of obesity among children throughout the world. Seeking to find ...

UAE scientist urges greater investment in preventive health care

(The National - 12/17/2017 6:29:00 AM)

Private investors are missing an opportunity to invest in long-term preventive health care in the UAE – a critical area as the country faces rising rates of "lifestyle" illness such as diabetes, according to the prominent scientist and founder of the UAE ...

Moody’s affirms A3 rating and stable outlook for Sharjah

(The National - 12/17/2017 6:26:00 AM)

Moody’s Investors Service has affirmed Sharjah's long-term A3 issuer rating and stable outlook thanks to its resilient and diversified economy and the introduction of revenue-raising measures such as value-added tax (VAT) in 2018. The UAE is introducing ...

GCC consumer prices rise by 1.3 per cent

(Times of Oman - 12/17/2017 6:21:00 AM)

GCC countries have posted a 1.3 per cent growth in inflation based on consumer price index for the 12-month period ending October, 2017, according to figures released by GCC-Stat, the Statistical Centre for Gulf Cooperation Council (GCC) states. The ...