Economic & Business News

Middle East M&A deal values increase by 62% year-on-year

(Saudi Gazette - 7/18/2018 8:05:00 AM)

Global M&A deal-making was off to a strong start in the first half of 2018 (H1 2018), with overall global deal values rising by 59% to US$2.5 trillion compared to the same period in 2017 (H1 2017), despite deal volumes falling by 12%. The Middle East ...

Middle East lighting fixtures market worth $8.7bn by 2024

(Saudi Gazette - 7/18/2018 8:03:00 AM)

Buoyed by the recovery in oil prices and further fuelled by an active construction sector, the Middle East market for lighting fixtures is set to grow at a galloping 10.3% CAGR between 2017 and 2024, by when it is set to be worth $8.7 billion.

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GCC corporate sukuk sales to dip further after plunging in first half

(The National - 7/18/2018 8:01:00 AM)

Sukuk issuances by Arabian Gulf firms are set to decline this year from 2017 as geopolitical risks and the aftermath of the Dana Gas Islamic bond saga dampen investor appetite, according to S&P Global Ratings.

Islamic bond issuances in the ...

OCCI's finance, insurance sector committee holds meeting

(Times of Oman - 7/18/2018 7:50:00 AM)

The Finance & Insurance Sector Joint Committee of the Oman Chamber of Commerce & Industry (OCCI) held its first meeting for the current year on July 15.

The meeting, held at the OCCI’s headquarters, was the first after restructuring efforts ...

CBO issues treasury bills worth OMR5mn

(Times of Oman - 7/18/2018 7:47:00 AM)

Oman’s central bank raised OMR5 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 182 days, from Wednesday July 18, 2018 until January 16, 2019.

The average accepted price reached 98.800 for ...

FTA classifies labour accommodation for VAT payment

(Gulf News - 7/18/2018 7:42:00 AM)

The Federal Tax Authority said on Tuesday that it classified labour accommodation into two categories for tax payment purposes taking into consideration whether the facility provides additional services making it subject to the standard 5 per cent Value ...

DMCC signs MoU with Royal Fund Investments

(Gulf News - 7/18/2018 7:30:00 AM)

Dubai Multi Commodities Centre (DMCC) and Royal Fund Investment (RFI) have signed a Memorandum of Understanding aimed at cementing stront trade ties between DMCC and the growing Chinese business community.

The MoU, which commits both parties to ...

Dubai’s costliest property in second quarter 2018 tops Dh43m

(Gulf News - 7/18/2018 7:29:00 AM)

An apartment at the “Il Primo” in Opera District at the Downtown was the costliest deal in Dubai’s property market during the second quarter of this year, fetching a handsome Dh43.09 million for the 11,550 square foot unit.

A Dh31.5 million ...

Qatar Central Bank foreign exchange reserves jump by 12.7% to $44.8bn

(The Peninsula - 7/18/2018 7:21:00 AM)

The Qatar Central Bank’s (QCB) foreign exchange reserves jumped 12.7 percent to $44.8bn in May on month-on-month, equating to 7.0 months of import cover. Bank assets growth was 2.5 percent y/y in May. Credit growth was 2.7 percent as deposits from the ...

Qatar Chamber hosts visiting Turkish business delegation

(The Peninsula - 7/18/2018 7:20:00 AM)

Qatar Chamber held a meeting yesterday with a trade delegation from the Turkish state of Siirt who are visiting Doha currently under the chairmanship of the governor of the state Ali fuat Atik to discuss the development of trade relations between ...