Economic & Business News

Credit extended by banks reach OMR24.7bn

(Times of Oman - 11/11/2018 9:00:00 AM)

The total outstanding credit extended by conventional and Islamic banks and other depository corporations stood at OMR24.7 billion as of the end of August 2018, a growth of 7.6 per cent over the level witnessed a year ago, according to the statistical ...

France honors Saudi Arabia’s Russian investment partner

(Arab News - 11/11/2018 8:59:00 AM)

One of the earliest joint investment projects between Saudi Arabia and Russia has been recognized by the French government as an example of cross-border “economic diplomacy”.

Kirill Dmitriev, chief executive of Russian sovereign wealth fund, ...

Oman's total revenue surges by 24% to OMR6.67b

(Times of Oman - 11/11/2018 8:55:00 AM)

The total revenue of the Sultanate's government surged 24.4 per cent to OMR6.67 billion for the first eight months of 2018, over the same period last year due to a major recovery in oil prices, showed provisional statistics released by the National ...

China is Qatar’s key trading partner; trade volume at QR38.6bn

(The Peninsula - 11/11/2018 8:46:00 AM)

China is Qatar’s third largest trading partner with the combined value of trade exchange hitting at QR38.6bn ($10.6bn) in 2017, accounting for 10.92 percent Qatar’s total foreign trade, noted a senior government official at the opening of the Qatar-China ...

DLD, ADGM to bolster Dubai’s realty sector

(The Gulf Today - 11/11/2018 8:30:00 AM)

Dubai Land Department (DLD) signed a memorandum of understanding (MoU) with the Registration Authority of Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) in Abu Dhabi. The MoU was signed by Sultan Butti Bin Mejren, Director ...

GCC outbound tourism spending surges to $60bn

(Trade Arabia - 11/11/2018 8:28:00 AM)

The per-capita international tourism spending from the Gulf visitors was 6.5 times higher than the global average last year, with expenditure estimated to be more than $60 billion last year, up from $40 billion in 2010, said a new report from the World ...

UAE-Sweden Business Council announced in Stockholm

(The Gulf Today - 11/11/2018 8:27:00 AM)

The UAE Embassy in Sweden has organised a forum on ways to promote direct foreign investment in the UAE. The forum announced the establishment of the UAE-Sweden Business Council.

In his speech, Sultan Rashid Sultan Al Kaitoob, UAE Ambassador of ...

UAE makes a quantum leap in GCI

(The Gulf Today - 11/11/2018 8:21:00 AM)

The UAE has made a new leap in the Global Competitiveness Index, (GCI), according to the recent Global Competitiveness Report issued by the World Economic Forum (Davos) 2018, where the country has advanced 18 places in “ICT Adoption” from 24th to 6th ...

Arab producers pushing for unachievable targets

(Arab Times - 11/11/2018 8:17:00 AM)

Abu Dhabi National Oil Company (ADNOC) last week announced its objective to increase its crude oil production to four million barrels by the end of 2020, and to five million barrels by 2030 at a cost of $130 billion.

With its current production ...

Saudi cybersecurity market forecasts 8% growth rate in 2019

(Saudi Gazette - 11/8/2018 8:47:00 AM)

The two-day, VirtuPort’s 6th annual Middle East and North Africa Information Security Conference 2018 kicked off in here on Tuesday. CEO Samer Omar, who inaugurated conference, stressed that the use of artificial intelligence and machine learning ...