Economic & Business News

Oman’s project market to remain bullish in the second half

(Times of Oman - 8/19/2017 6:23:00 AM)

Oman’s project market is expected to remain bullish in the second half of this year with an anticipated contract valued at $8.74 billion, according to a survey conducted by Meed Projects. Oman awarded projects valued at $4.37 billion in the first half of ...

$32bn worth urban projects 'at tendering stage in GCC'

(Trade Arabia - 8/17/2017 7:32:00 AM)

As many as 801 construction projects with a combined estimated value of Dh117.44 billion ($32 billion) are currently in the tendering stage in the GCC's urban construction sector, according to a report. These developments will serve as a strong pipeline ...

UAE Central Bank deposits top $33 billion in H1

(Trade Arabia - 8/17/2017 7:28:00 AM)

The total value of monetary deposits at the UAE Central Bank amounted to Dh123 billion ($33.5 billion) during the first half (H1) of the year, Dh122.95 billion of which are in banknotes and Dh50 million in coins, a report said. On a month-over-month ...

Qatar sovereign wealth fund trims Credit Suisse stake

(The National - 8/17/2017 7:25:00 AM)

The Qatar Investment Authority has reduced its shareholding in Credit Suisse Group to 4.94 percent, amid the Middle Eastern nation’s diplomatic crisis with neighbouring countries. The country’s sovereign wealth fund, known as QIA, previously held 5.01 ...

$2bn worth aquaculture projects in pipeline in Oman

(Oman Daily Observer - 8/17/2017 6:20:00 AM)

Oman’s Ministry of Agriculture and Fisheries is currently evaluating a raft of proposals for developing major aquaculture ventures in the Sultanate. The projects, entailing investments totalling in excess of $2 billion, promise to ignite the growth of a ...

Average inflation rate in Oman for 2017 forecast at 4.1%

(Times of Oman - 8/17/2017 6:12:00 AM)

Average inflation rate in Oman is expected at 4.1 per cent this year, up from 1.1 per cent in 2016. However, it is much lower than the 8 per cent inflation estimate for the entire Middle East and North Africa (MENA) region for the current year. Citing a ...

Qatar Investment Authority to announce new investments soon

(The Peninsula - 8/17/2017 6:07:00 AM)

The Qatar Investment Authority (QIA) has made it clear that it has no plans to liquidate its assets around the world and added the QIA will soon announce major new international investments, Lusail daily reported. “We have just completed a tour of ...

Qatari sovereign wealth fund reduces stake in Credit Suisse

(Gulfnews - 8/17/2017 6:02:00 AM)

The Qatar Investment Authority has reduced its direct shareholding in Credit Suisse Group AG to 4.94 per cent in one of the sovereign wealth fund’s rare sales of the Swiss bank’s stock. The QIA previously held 5.01 per cent in voting rights and is ...

UAE Ambassador, Sudan finance minister discuss cooperation

(Gulfnews - 8/17/2017 6:00:00 AM)

Hamad Mohammad Humaid Al Junaibi, UAE Ambassador to the Republic of Sudan, and Mohammad Osman Suliman Al Rikabi, Minister of Finance and Economic Planning of the Republic of Sudan, have met to discuss cooperation between the two countries. During the ...

Middle East firms face weakening working capital performance

(Gulfnews - 8/17/2017 5:57:00 AM)

Working capital performance remains a challenge for companies in the Middle East with working capital metrics weakening each quarter from the fourth quarter of 2014, according to audit and assurance, tax and consulting services firm PwC. PwC’s 2017 ...