Economic & Business News

GCC’s economy continues recovery, seen at 3% in ’19

(Saudi Gazette - 11/14/2018 8:41:00 AM)

Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF said on Tuesday.

The global lender predicted that an overall energy price recovery from ...

IMF: KSA reform program in right direction but needs to ‘scale up’

(Arab News - 11/14/2018 8:37:00 AM)

Saudi Arabia’s reform process is heading in the right direction, but the Kingdom needs to “scale up” in certain areas of the economy, according to the International Monetary Fund (IMF).

The IMF’s director for the Middle East and Central Asia, ...

Qatar, Kuwait to drive GCC growth in 2018 and ’19: IMF

(The Peninsula - 11/14/2018 8:31:00 AM)

Qatar’s FIFA 2022--linked infrastructure investments and Kuwait’s implementation of five-year development plans will be the GCC growth triggers in 2018 and 2019. The ongoing preparations for Expo 2020 in the UAE will be another catalyst, IMF said ...

IMF projects UAE’s economic growth at 3.7 per cent in 2019

(Gulf News - 11/14/2018 8:27:00 AM)

The UAE economy is projected to grow at 2.9 per cent in 2018 and 3.7 per cent in 2019 against an estimated growth of 0.8 per cent, according to the latest regional economic outlook report from the International Monetary Fund (IMF).

“Growth ...

Japanese investments in Abu Dhabi hit Dhs6.1b by 2017

(The Gulf Today - 11/14/2018 8:18:00 AM)

The size of Japanese investments in Abu Dhabi reached approximately Dhs6.1 billion by end of 2017, while the number of trade licenses issued to Japanese investors in Abu Dhabi reached 32.

Similarly, the value of non-oil trade between Japan and ...

Dubai realty sector gains momentum

(The Gulf Today - 11/14/2018 8:17:00 AM)

Emaar Development, the UAE build-to-sell property development business majority-owned by Emaar Properties, recorded a growth in net profit of 19 per cent during the first nine months (January to September) of 2018 to Dhs2.498 billion (US$ 680 million), ...

RAK Chamber in tie-up talks with Swedish team

(Trade Arabia - 11/14/2018 8:07:00 AM)

Ras Al Khaimah Chamber recently hosted a high-level delegation from Sweden to discuss economic and investment opportunities in the sectors of life sciences, manufacturing, clean technologies, smart cities, future transportation and tourism.

The ...

Bahrain seeks consultancy bids for $4bn Saudi causeway

(Trade Arabia - 11/14/2018 8:04:00 AM)

Bahrain's King Fahd Causeway Authority (KFCA) said it has invited bids from qualified transaction advisory services consultancies for implementing the transitional phase of King Hamad Causeway, a 25-km-long strategic artery linking the kingdom with Saudi ...

Dubai foreign trade in foodstuff tops $12bn in H1

(Trade Arabia - 11/14/2018 8:02:00 AM)

Dubai’s external trade in foodstuff recorded Dh44.24 billion ($12 billion) in the first half of 2018, according to recent figures released by Dubai Customs in conjunction with the launch of Gulfood Manufacturing Exhibition 2018 in Dubai. Imports made ...

KCCI ‘hosts’ Turkish economic delegation

(Arab Times - 11/14/2018 7:49:00 AM)

Kuwait Chamber of Commerce and Industry (KCCI) Tuesday morning hosted the Governor of the Province of Urfa in Turkey Abdullah Erin and his accompanying economic delegation.

According to a press release, a board member of KCCI Ahmad Sulaiman ...