Economic & Business News

Oman’s gross electricity production up 5.7%

(Times of Oman - 6/18/2017 1:14:00 AM)

Gross electricity production in Oman rose 5.7 per cent to 6,552.5 gigawatt (GW) by the end of the first quarter 2017, from 6199.7 GW, while net production rose by 6.8 per cent to 6,308.5 GW, according to the latest update from the National Centre for ...

Total credit of commercial banks in Oman rises by 3.5 per cent

(Times of Oman - 6/18/2017 1:13:00 AM)

The total credit of commercial banks in Oman during the first quarter of 2017 stood at OMR19.71 million, compared with OMR19.05 million during the same period in 2016, registering a growth by 3.5 per cent. The quarterly statistical bulletin issued by the ...

UAE the world’s 35th most innovative country

(Gulfnews - 6/18/2017 1:10:00 AM)

The UAE has improved its standing in the 2017 Global Innovation Index, GII, topping all Arab countries and ranking 35th globally to improve six places from last year’s 41st position cementing its status as one of the world’s most innovative countries. ...

Khareef festival 2017 preparations begin

(Oman Daily Observer - 6/18/2017 1:07:00 AM)

The Ministry of Commerce and Industry (MoCI) will organise a meeting with various private and government stakeholders in the Governorate of Dhofar on Monday, June 19, 2017. The meeting will assess the preparations for Khareef Festival and tourism season ...

UAE tops Arab countries in GII 2017

(The Gulf Today - 6/18/2017 1:02:00 AM)

The UAE has improved its standing in the 2017 Global Innovation Index, (GII), topping all Arab countries and ranking 35th globally to improve six places from last year’s 41st position cementing its status as one of the world’s most innovative countries. ...

Saudi construction market set to double to over SR360bn by 2025

(Saudi Gazette - 6/18/2017 12:58:00 AM)

ADVANCED construction technology will be vital for delivering Saudi Vision 2030 mega-projects on time and on budget, experts announced ahead of The Big 5 Saudi Arabia. The Kingdom’s construction market is set to more than double, reaching a record high ...

GESALO celebrates German-Saudi business Iftar

(Saudi Gazette - 6/18/2017 12:56:00 AM)

THE holy month of Ramadan is the most important time of the year for Muslims around the world. The German-Saudi Arabian Liaison Office for Economic Affairs (GESALO) with its almost 40 years of presence in the Kingdom acknowledges the importance of ...

Madinah Chamber, IDB sign deal to back dates sector

(Saudi Gazette - 6/18/2017 12:55:00 AM)

Under the aegis of Prince Saud Bin Khalid Al-Faisal, Deputy Governor of Madinah Region, the Chairman of the Islamic Development Bank (IDB) Group Dr. Bandar Bin Hajjar and the Chairman of the Chamber of Commerce and Industry of Madinah Munir Mohammed ...

Ramadan: Establishing spiritual bonding

(Saudi Gazette - 6/18/2017 12:53:00 AM)

THE holy month of Ramadan is an occasion when not only Muslims but people transcending all social, religious and cultural barriers come together on a single platform and endorse the spirit of Ramadan. The cultural fusion between different socio- ...

‘Taxing GCC money transfers could create black market’

(Arab News - 6/18/2017 12:49:00 AM)

Imposing fees on money transfers among Gulf Cooperation Council (GCC) member states could create a black market for money transfers, Nader Mohammad, a World Bank official for the Middle East and North Africa, said Thursday. “From our experience in many ...