Economic & Business News

Saudi Arabia unveils over $183bn development projects

(Trade Arabia - 9/23/2018 7:05:00 AM)

In a major boost to the country's economy, Saudi Arabia has announced 10 major projects and development programmes worth more than SR685 billion ($183 billion) as the kingdom celebrates its 88th National Day.

These projects reflect the ...

Dubai real estate transactions top $35bn in 8 months

(Trade Arabia - 9/23/2018 7:04:00 AM)

Dubai Land Department (DLD) said that its service centres across Dubai have served more than 39,000 investors, after helping them complete their investments with a total value of Dh131 billion ($35.6 billion) from January to August.

In the ...

MPW to disburse financial dues to firms, contractors

(Arab Times - 9/23/2018 7:03:00 AM)

Disbursement of financial dues to the contractors and companies that carried out projects has been suspended by the financial supervisor for four months now, reports Al-Anba daily quoting a reliable source from Ministry of Public Works.

The ...

UAE VAT boosts revenue base and could raise 1.7% of GDP:Moody’s

(The National - 9/20/2018 7:56:00 AM)

The introduction of VAT in the UAE may raise up to 1.7 per cent of the country’s gross domestic product, the rating agency Moody’s said. “The implementation of VAT in the UAE marks a positive step towards revenue diversification,” said Thaddeus Best, a ...

Exports to drive Qatar current account surplus to 9% of GDP in ’18

(Gulf Times - 9/20/2018 7:55:00 AM)

Buoyant exports will drive Qatar’s current account surplus to nearly 9% of the country’s GDP in 2018; an increase of around 5%, a new QNB report has shown.

With oil prices expected to average $72 for a barrel and LNG demand growth in Asia ...

Sharjah Investors Services Centre established

(Gulf News - 9/20/2018 7:44:00 AM)

The Sharjah Investment and Development Authority (Shurooq) and Injazat Services announced the establishment of the Sharjah Investors Services Centre.

The centre will provide services to investors looking to set up businesses in Sharjah, and ...

GCC economies begin recovery after a slow start

(Gulf News - 9/20/2018 7:41:00 AM)

Higher crude production and recovering oil prices will aid growth in an otherwise sluggish oil sector and strengthen fiscal and external balances for the GCC economies, according to ICAEW’s latest Economic Insight report for the third quarter, produced ...

Industrial Production Index rises in July

(The Peninsula - 9/20/2018 7:29:00 AM)

Qatar’s Industrial Production index (IPI) rose to 107.7 points for the month of July, up by 2.2 percent compared to the previous month , and increased by 1.4 percent from a year ago.

The index of Mining sector showed an increase by 2.4 percent ...

Mobile feed project to boost job openings

(Oman Daily Observer - 9/20/2018 7:23:00 AM)

Driven by the idea of creating new jobs and develop entrepreneurial skills among the youths, the animal feed product major National Feed joined hands with the Al Rafd and Riyada and came out with the idea of mobile feed project. Al Rafd Fund and Riyadah ...

Fertiliser industry key to addressing food security

(Oman Daily Observer - 9/20/2018 7:22:00 AM)

The fertiliser industry has a crucial role to play in addressing global food security challenges, as the world’s population continues to expand rapidly, driving demand for nutrition and resource availability, said speakers during the opening of the 9th ...