Economic & Business News

Revamped Islamic Economy strategy 2017-2021 on the cards

(Gulfnews - 10/18/2017 7:06:00 AM)

The Dubai Islamic Economy Development Centre (DIEDC) is looking at implementing a refreshed Islamic Economy Strategy for 2017-2021 that will help realise the ‘Dubai: Capital of Islamic Economy’ vision. The board of the DIEDC held a meeting that reviewed ...

Staff turnover in the UAE higher than global average: report

(Gulfnews - 10/18/2017 7:04:00 AM)

Salary hikes — and regular ones at that — may be the best way to get employees to stay on. But in the UAE more of them are just as likely to favour one employer over another based on the benefits, such as what they get on their medical insurance ...

OCCI to support IORA’s Tourism Resources Centre in Oman

(Oman Daily Observer - 10/18/2017 7:03:00 AM)

The Ministry of Tourism will collaborate with the Oman Chamber of Commerce and Industry (OCCI) in setting up a new Tourism Centre as part of its commitment to the Indian Ocean Rim Association (IORA). The announcement came at the 17th Ministerial Meeting ...

Salalah Port development, expansion plans firm up

(Oman Daily Observer - 10/18/2017 7:01:00 AM)

An action plan for the expansion and modernisation of Salalah Port, a key maritime and logistics hub on the Indian Ocean, is being firmed by Tanfeedh — the National Programme for Enhancing Economic Diversification in the Sultanate. The Implementation ...

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

(Oman Daily Observer - 10/18/2017 6:59:00 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 ...

Volunteering opportunities for Expo 2020

(The Gulf Today - 10/18/2017 6:54:00 AM)

Expo 2020 Dubai this week launches its search for more than 30,000 volunteers who will be the ‘face’ of the largest global gathering ever to be staged in the Middle East, Africa and South Asia. Expo 2020 promises to be a transformative and lasting ...

Value of K-net transactions surpassed $1 billion in 2016

(Arab Times - 10/18/2017 6:53:00 AM)

Minister of Commerce and Industry Khaled Al-Roudhan said Tuesday that the transactions value of the retail payment system (K-net) in Kuwait has surpassed $1 billion in 2016. Digital business in Kuwait has seen lately a major prosperity, Al- Roudhan, also ...

Matic raises $3m to fund expansion in Middle East

(Saudi Gazette - 10/18/2017 6:50:00 AM)

Matic, the leading online marketplace for cleaning services in the GCC incubated by Badir Program for Technology Incubators and Accelerators, has raised $3 million in a Series A investment round led by Middle East Venture Partners (MEVP), the leading ...

Leaders of sovereign wealth funds, global asset managers to discuss

(Saudi Gazette - 10/18/2017 6:49:00 AM)

Saudi Arabia’s Public Investment Fund (PIF), one of the world’s leading sovereign wealth funds, announced Tuesday that top speakers from the investment world had confirmed their attendance at the invitation-only Future Investment Initiative (FII) to be ...

Al-Jadaan: Measures in place to ‘ensure comprehensive growth’

(Saudi Gazette - 10/18/2017 6:48:00 AM)

Saudi Minister of Finance Mohammed Al-Jadaan has said that the level of confidence in global financial markets is rising, thanks to the growth of the global economy. He made the remarks while addressing the International Monetary and Financial Committee ...