Economic & Business News

UAE developer Five Holdings unveils new hospitality brand

(Trade Arabia - 6/20/2017 8:19:00 AM)

Dubai-based Five Holdings, a real estate development and hospitality group (previously known as Skai Holdings), has launched Five Hotels & Resorts, a new luxury hospitality brand, under its subsidiary Five Hospitality. Five Hotels & Resorts will manage ...

Middle East’s retailers ‘need to invest in mobile shopping platforms

(The National - 6/20/2017 1:43:00 AM)

The Middle East’s retailers need to invest in mobile shopping platforms and secure sites to boost online sales, according to a report from PricewaterhouseCoopers. Earlier this year, PwC released its Total Retail Survey 2017 that interviewed more than ...

WB report sees modest growth in GCC

(Oman Daily Observer - 6/20/2017 1:40:00 AM)

A new World Bank report projects growth in the Gulf Cooperation Council (GCC) countries will gradually recover from 1.3 per cent in 2017 to 2.6 per cent in 2019. The first edition of the Gulf Economic Monitor, which will be produced half-yearly by the ...

UAE private wealth projected to log strongest growth in GCC

(Saudi Gazette - 6/20/2017 1:22:00 AM)

Private wealth growth in the United Arab Emirates (UAE) witnessed a significant increase in 2016 (8.3 percent) as it continued to lead GCC private wealth growth, according to a new report by The Boston Consulting Group (BCG) titled “Global Wealth 2017: ...

Saudi non-oil private sector to rise at 1.2% in ’17

(Saudi Gazette - 6/20/2017 1:19:00 AM)

The non-oil private sector in the Kingdom is expected to grow at around 1.2 percent compared to 0.1 percent in 2016, Jadwa Investment’s recent macroeconomic update showed. “The recent issuance of an Islamic bond (sukuk), and the reinstatement of ...

Middle East millennials work harder to achieve their goals

(Saudi Gazette - 6/20/2017 1:17:00 AM)

Millennial business owners in the Middle East are more likely to be driven by the desire to increase their influence and have a positive impact on others than the overall average for entrepreneurs globally, according to a new study by HSBC Private Bank. ...

155.5b securities traded in UAE stock markets in 2016

(The Gulf Today - 6/20/2017 1:16:00 AM)

With a total traded volume of 155.5 billion securities, the UAE capital markets topped the list of GCC most liquid markets in 2016, with the Saudi Stock Exchange coming second with a total of 67.7billion securities. The UAE financial markets came second ...

Abu Dhabi plans diverse economy

(The Gulf Today - 6/20/2017 1:11:00 AM)

A new report just produced by the global research and consultancy firm Oxford Business Group (OBG) provides a sweeping overview of Abu Dhabi’s investment climate in light of continued lower commodities prices throughout 2016 and 2017. The Report: Abu ...

Private wealth in Bahrain rising at 4.5pc to hit $200bn

(Trade Arabia - 6/19/2017 8:06:00 AM)

Overall growth of private wealth in Bahrain is expected to increase steadily to 4.5 per cent compound annual growth rate (CAGR) and reach $200 billion over the next five years, a new report said. Equities, at 6.7 per cent CAGR, and cash and deposits, at ...

Saudi Arabia’s public finances seen stabilising by 2020

(Gulfnews - 6/19/2017 1:49:00 AM)

The launch of the Fiscal Balance 2020 Programme in the second half of 2017, the MSCI EM watch list announcement in mid-June and a possible Aramco IPO in 2018 are likely to mark the start of a fundamental transformation of Saudi Arabia’s economy and ...