Economic & Business News

Apicorp inks $100m finance deal for Oman’s Duqm refinery

(Trade Arabia - 12/24/2018 7:26:00 AM)

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development bank, has announced a $100 million-investment as part of a consortium of international and regional banks to finance the construction of Oman’s Duqm Refinery.

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GCC 5G adoption to reach 16% by 2025

(Saudi Gazette - 12/23/2018 8:15:00 AM)

The number of 5G mobile connections in the MENA region will grow slowly in the first two or three years and will start gaining momentum in 2023, according to GSMA Intelligence. By 2025, there will be around 50 million 5G connections, with around 20 ...

Deadline for reconciliation of commercial registrations set

(Times of Oman - 12/23/2018 8:13:00 AM)

The Ministry of Commerce and Industry has appealed to the owners of commercial registrations, whether individual, institutions or companies, to expedite the reconciliation of commercial registrations which were valid until December 31, 2016, or earlier. ...

MENA projects pipeline valued at $3.5 trillion

(Oman Daily Observer - 12/23/2018 8:10:00 AM)

The Middle East and North Africa (MENA) region is home to some of the most exciting projects markets in the world. With an estimated $3.5tn worth of projects planned across the region, the pipeline of future projects is vast. Data from MEED Projects show ...

OPWP to look at energy storage options

(Oman Daily Observer - 12/23/2018 7:59:00 AM)

The Oman Power and Water Procurement Company (OPWP) — the sole offtaker of electricity output under the sector law — has kicked off a landmark study aimed at examining options for energy storage, which is pivotal to the adoption of renewables as a source ...

Dubai’s main sectors recorded real GDP growth rates in 2017

(Gulf News - 12/23/2018 7:55:00 AM)

All main sectors of GDP recorded real growth rates in 2017 in Dubai, with the exception of value-added financial services, compared to 2016, according to the ‘Dubai Economic Report 2018’ which was released on Saturday by the Department of Economic ...

Dubai economic growth in fine fettle

(The Gulf Today - 12/23/2018 7:50:00 AM)

The Department of Economic Development (DED) has launched the ‘Dubai Economic Report 2018,’ which reviews the major macro- and sectoral level economic developments and growth in the emirate during 2017. The report aims to be a reference for public and ...

ICCI hails UAE bailout package of $3b for Pakistan

(The Gulf Today - 12/23/2018 7:48:00 AM)

The Islamabad Chamber of Commerce & Industry (ICCI) has hailed the United Arab Emirates announcement to deposit $3 billion in the State Bank of Pakistan to support the financial and monetary policy of the country and termed it a highly positive ...

UAE pioneer of plans that enhance Islamic economy

(The Gulf Today - 12/23/2018 7:46:00 AM)

The Dubai Islamic Economy Development Centre (DIEDC) on Saturday outlined the 2019 action plan for the Dubai: The Capital of Islamic Economy initiative at its fourth board meeting for 2018.

Chairing the meeting, Sultan Bin Saeed Al Mansouri, ...

UAE gross bank assets surge 6pc to $776bn

(Trade Arabia - 12/23/2018 7:44:00 AM)

The UAE gross bank assets amounted to Dh2.854 trillion by the end of November, up 6 per cent from Dh2.694 trillion by the end of December 2017, according to Central Bank of UAE statistics released yesterday.

Gross credit increased to around ...