Economic & Business News

Oil & gas industry a critical enabler of economic growth

(Saudi Gazette - 11/13/2018 8:56:00 AM)

The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC).

Delivering the opening ...

Energy shocks ‘biggest risk for Middle East business’

(Arab News - 11/13/2018 8:54:00 AM)

Potential energy price shocks are the biggest worry facing business leaders in the Middle East and North Africa, according to a report on global risk by the World Economic Forum (WEF).

The prospect of sharp volatility in energy prices — the ...

A glimpse into Oman's evolving tax systems

(Times of Oman - 11/13/2018 8:47:00 AM)

Tax reforms have played a pivotal role in supplementing non-oil revenues of Gulf Cooperation Council (GCC) economies as GCC policy makers are compelled to take a fresh look at longer-term structural reforms. Today, the tax landscape in the Sultanate ...

UAE to implement three initiatives from WEF’s GFC

(Gulf News - 11/13/2018 8:12:00 AM)

The UAE will implement three initiatives to prepare for the future over the next year, which were discussed at the World Economic Forum’s global future council, a senior government official said on Monday at close of the two-day forum.

“These ...

Over 240 Qatari firms to participate in ‘Made in Qatar’ expo in Muscat

(The Peninsula - 11/13/2018 8:11:00 AM)

Over 240 Qatari manufacturing companies are to participate in the upcoming ‘Made in Qatar 2018’ exhibition to be held under the patronage of the Prime Minister and Minister of Interior H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, from December 3 ...

Hamdan issues decision on tax refunds for tourists

(The Gulf Today - 11/13/2018 8:00:00 AM)

Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance, and Chairman of the Board of the Federal Tax Authority, FTA, has issued the Decision No. 02 of 2018 on the Tax Refunds for Tourists Scheme, setting out the implementation ...

Digital economy has become a foundation of global economy

(Arab Times - 11/13/2018 7:59:00 AM)

Digital economy has become one of the most important and mostly used applications nowadays to the extent that it has turned into a basic foundation of the global economy, says Minister of Commerce and Industry Khaled Al- Roudhan.

This (virtual) ...

DP World celebrates $3.3bn listings on Nasdaq Dubai

(Trade Arabia - 11/13/2018 7:49:00 AM)

Dubai-based global marine terminal operator DP World's group chairman and CEO, Sultan Ahmed Bin Sulayem, today rang the market-opening bell to celebrate sukuk and bond listings totalling $3.3 billion on Nasdaq Dubai.

The listing comprises a ...

Dubai hotel occupancy, rates dip despite demand growth

(Trade Arabia - 11/13/2018 7:46:00 AM)

Hotels in Dubai witnessed declines in occupancy and revenues in October despite a significant growth in demand (room nights sold), primarily due to the pressure from increased supply, said a report.

Dubai hotels recorded a 4.3 per cent drop in ...

Spain plans to boost beef exports to KSA

(Saudi Gazette - 11/12/2018 9:04:00 AM)

The Spanish beef industry is working to boost exports to Saudi Arabia, one of the largest markets for beef in the world, with exporters disclosing immediate and ambitious long-term plans to grow international trade.

Revealing expansions plan ...