Economic & Business News

Dubai Expo 2020 key substation 80pc complete

(Trade Arabia - 6/21/2017 8:31:00 AM)

Dubai Electricity and Water Authority (Dewa) said its 132/11-kilovolt (kV) substation being implemented within the Expo 2020 Dubai Park is 80 per cent complete and due to be operational by the end of August. The substation named Mobility with a ...

Central Bank of Oman issues treasury bills worth OMR58.48m

(Times of Oman - 6/21/2017 8:23:00 AM)

Oman’s central bank raised OMR58.48 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, June 21 until July 19, 2017. The average accepted price reached 99.931 for every OMR100, and the minimum ...

UAE firms take part in US investment summit

(Gulfnews - 6/21/2017 2:43:00 AM)

US Ambassador to the UAE Barbara A Leaf is leading a sizeable UAE investor delegation to the Select USA Investment Summit being held in Washington, DC currently, according to a statement from the US Embassy in Abu Dhabi. The summit is the highest profile ...

Money supply in UAE continues to increase in May — Central Bank

(Gulfnews - 6/21/2017 2:40:00 AM)

The UAE Central Bank announced yesterday that money supplies in different measures, including money in circulation and bank and government deposits, have increased by 0.6 per cent during last month of May compared to the money supplies in the previous ...

MENA hospitality industry earnings decline in May

(Oman Daily Observer - 6/21/2017 2:34:00 AM)

The majority of the MENA hospitality industry experienced a decrease in earnings during May 2017 as both lower occupancies and lower average room rates reduced overall revenue per average room (RevPAR), EY said in its latest MENA Hotel Benchmark Survey ...

Improved regulatory environment necessary for GCC REITs to flourish

(Oman Daily Observer - 6/21/2017 2:29:00 AM)

Investor sentiment and lack of understanding, along with a weak regulatory environment, are the biggest challenges for the growth of REITs in the Middle East, according to the latest survey by CFA Society Emirates, which gauged the opinions of the ...

Islamic finance growth to lose momentum in 2018: S&P report

(Saudi Gazette - 6/21/2017 1:53:00 AM)

Islamic finance industry will continue to expand this year, but lose some momentum in 2018, S&P Global Ratings forecast. The industry’s assets reached $2 trillion at year-end 2016, slightly below our September forecast. Even though sukuk issuance ...

Saudi Arabia dominates list of top 100 companies in the Arab World

(Saudi Gazette - 6/21/2017 1:51:00 AM)

Saudi Arabia continues to dominate in the Forbes Middle East “2017 Ranking of Top 100 Companies in the Arab World” with 36 companies. In its June issue, Forbes Middle East noted that SABIC, which is from the kingdom, emerged at the top. With the rise in ...

Fraud charges against Barclays over Qatar deals

(Arab News - 6/21/2017 1:45:00 AM)

Qatar’s 2008 bailout of Barclays has come back to haunt the British banking giant, with the leveling of fraud charges against it and four former senior executives over multibillion-pound deals nine years ago. The Serious Fraud Office (SFO), the UK’s top ...

Qatar's exports at QR20.2bn in May

(The Peninsula - 6/20/2017 8:24:00 AM)

The total value of exports of goods (including exports of goods of domestic origin and re-exports) in May 2017, reached at about QR20.2bn, showing sharp an increase of 18.4 percent (year-on-year) compared to May 2016. When compared on monthly basis the ...