Economic & Business News

GCC long-term prospects bright with over $2trn of active projects

(Saudi Gazette - 8/21/2017 5:36:00 AM)

The GCC projects market had a muted performance in the first half of 2017, but is expected to perform better in the second six months of the year as the region’s economies continue to adjust to lower oil prices. According to the latest data from MEED ...

Change in food consumption in GCC offers crucial investment opportunit

(Saudi Gazette - 8/21/2017 5:34:00 AM)

The food and beverage sector in the GCC is developing, due to consumers’ changing tastes, increased women participation in the workforce and a government push for healthier diets, according to Strategy&, formerly Booz & Company, part of the PwC network. ...

Masdar signs major contract for wind farm in Oman

(Times of Oman - 8/20/2017 6:20:00 AM)

Abu Dhabi’s renewable energy company, Masdar, signed an Engineering, Procurement and Construction (EPC) contract with a global consortium comprising GE and Spain’s TSK to build the Dhofar Wind Power Project, the first large-scale wind farm in Oman and ...

Abu Dhabi Chamber, FTA organise VAT workshop

(Gulfnews - 8/20/2017 6:08:00 AM)

The Abu Dhabi Chamber of Commerce and Industry, in co-operation with the Federal Tax Authority (FTA), has organised an awareness workshop on applying the tax system in the UAE, titled ‘VAT for Real Estate Sector and Registration Mechanism’. The workshop ...

Zayed Initiative to launch world projects

(The Gulf Today - 8/20/2017 6:05:00 AM)

The Zayed Giving Initiative (ZGI) has launched a programme to mark World Humanitarian Day, which was marked on Saturday, to promote the culture of volunteer work and humanitarian giving among the youth of various nationalities. Dr. Adel Al Shameri, CEO ...

Qatar Chamber hosts Ethiopian delegation

(The Peninsula - 8/20/2017 5:58:00 AM)

Qatar Chamber (QC) held a meeting with an Ethiopian government delegation, yesterday, to review trade ties between the two countries and the means to enhance them. The meeting also focused on investment opportunities in the agricultural, mining, ...

GAZT launches VAT website and helpline

(Saudi Gazette - 8/20/2017 5:53:00 AM)

THE General Authority of Zakat and Tax (GAZT) concluded the VAT Forum in Riyadh last Aug. 16. The forum, which was held under the patronage of GAZT Governor His Excellency Suhail Abanmi, is a major event that helps businesses in preparing for Value Added ...

MENA healthcare project pipeline valued at $55.2bn

(Saudi Gazette - 8/20/2017 5:48:00 AM)

As much as $55.2bn worth of healthcare projects are in the pipeline in the Middle East and North Africa (MENA) region in 2017, with major new developments expected to be announced at the forthcoming Building Healthcare Innovation & Design Show. According ...

Saudi conglomerate to launch first-ever Shariah-compliant spot gold

(Saudi Gazette - 8/20/2017 5:46:00 AM)

The Dubai Gold & Commodities Exchange (DGCX) and Ayedh Dejem Group, a conglomerate from the Kingdom of Saudi Arabia, have agreed to develop and launch the Middle East’s first-ever Shariah-compliant Spot Gold contract to be traded on an international ...

GCC projects market shows signs of improvement: Report

(Arab News - 8/20/2017 5:39:00 AM)

The Gulf Cooperation Council (GCC) projects market had a muted performance in the first half of 2017, but it is expected to perform better in the second half of the year as the region’s economies continue to adjust to lower oil prices. According to the ...