Economic & Business News

Dubai FDI partners with non-profit start-up accelerator

(Gulfnews - 10/19/2017 6:29:00 AM)

Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, and the MassChallenge, a non-profit start-up accelerator based in Boston (USA), signed a partnership to support global initiatives and projects that attract start-ups as well as ...

Tourism sector GDP share set to be RO 1.63bn by 2027

(Oman Daily Observer - 10/19/2017 6:26:00 AM)

The direct contribution of Oman’s travel and tourism industry to the Gross Domestic Product (GDP) of the country is projected to grow 8.1 per cent to RO 909.4 million in 2017, up from RO 841.3 million in 2016, according to the World Travel & Tourism ...

GCC businesses should start preparing now for IFRS 16: ICAEW

(Oman Daily Observer - 10/19/2017 6:24:00 AM)

GCC businesses need to start preparing for International Financial Reporting Standards (IFRS) 16 now or risk non-compliance when the new financial instruments standard is introduced on January 1, 2019, according to accountancy and finance body ICAEW. ...

TA’SIS project to herald export of Omani oilfield human capital

(Oman Daily Observer - 10/19/2017 6:23:00 AM)

Oil & Gas and Manpower ministries back OPAL initiative for entrepreneurship and national manpower development in oilfield sector. The Oman Society for Petroleum Services (OPAL), the umbrella body of oil and gas producers, contractors, vendors and service ...

Utico earmarks $100m solar investment programme

(The Gulf Today - 10/19/2017 6:20:00 AM)

Utico, the Middle East’s leading full service private utility on Wednesday unveiled a path breaking solar investment programme, SolarFree, for homeowners and announced an investment outlay of over $100 million for the project. In a statement, Utico said ...

ADFD extends $50m for Velana Airport

(The Gulf Today - 10/19/2017 6:18:00 AM)

Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, extended a $50 million (Dhs183.65 million) concessionary loan to the Maldivian government to develop the Velana International Airport in Malé. The Velana ...

Reserves touched to offset budget deficit–‘Law to raise loans in limbo

(Arab Times - 10/19/2017 6:17:00 AM)

Withdrawals from the public reserve fund are expected to increase this month and the coming months in order to cover the budget deficit, following the expiry of the law that allows the government to raise loans and with the wait for a new law to be ...

Forum discusses management of water supply in the Kingdom

(Saudi Gazette - 10/19/2017 6:13:00 AM)

Saudi Aramco participated as the diamond sponsor in the 5th Water Arabia Conference and Exhibition under the theme “Sustaining water resources through innovative and reliable water and wastewater treatment technologies.” At the conference’s opening ...

KAPSARC tackles challenges of electricity transition in GCC

(Saudi Gazette - 10/19/2017 6:09:00 AM)

The King Abdullah Petroleum Studies and Research Center (KAPSARC) addressed the Climate Change Polices and Challenges of the Electricity Transition in the GCC, during the meeting of Association of Energy Engineers (AEE) Saudi Chapter in collaboration ...

Saudi Post transfers operational centers to three major airports

(Saudi Gazette - 10/19/2017 6:06:00 AM)

The General Authority of Civil Aviation (GACA) signed agreements for a strategic partnership with the Saudi Post Corporation on Wednesday. The partnership, which will continue for 25 years, aims to transfer the central distribution centers of the Saudi ...