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UAE implements penalties for violating excise duty stamp of tobacco products
The Federal Tax Authority (FTA) on Saturday announced that penalties have been set for nine types of violations of the Digital Tax Stamp Scheme for marking tobacco and tobacco products to protect consumers
China’s crude oil imports from Saudi Arabia up 43%
China’s crude oil imports from Saudi Arabia rose 43 percent in April, making the Middle Eastern OPEC kingpin once again the top supplier to the world’s second-biggest economy, boosted by demand from new private refiners.
Airbnb launches Arabic platform
Home rental company Airbnb launched an Arabic version of its global platform this week, in a bid to strengthen its presence in the Middle East and North Africa markets.
US-Saudi business council reports $13bn in contracts
The value of joint Saudi-US contracts rose to $13 billion in the first quarter of 2019, according to a business council report.
UAE reveals penalties for violations of digital tax stamps system
The UAE's Federal Tax Authority (FTA) has revealed the penalties facing violators of the Marking Tobacco and Tobacco Products Scheme, which calls for digital tax stamps to be applied to products before being sold in local markets.
Dubai, Sharjah road links set to improve as project nears completion
A key road project to improve links between Dubai and Sharjah is scheduled to be completed by the end of June, the Roads and Transport Authority (RTA) said on Saturday.
Telecoms tower company IHS plans ‘up to 30,000’ sites in Saudi Arabia
Telecoms tower company IHS plans to operate up to 30,000 masts in Saudi Arabia within the next five years, as part of a growth strategy in a country it sees as the “pulsating heart” of the Arab world.
UAE startups hail long-term visa
The  UAE  has been home to many startups and will continue to be the hub in the Middle East.
India bulls in UAE all charged up after Modi's win
In a symbolic display of unbridled exhilaration over what promises to be a brighter Modi 2.0 era, India's benchmark BSE Sensex crossed the 40,000 mark for the first time in its history on Thursday in less than two hours of market opening before paring all gains before close.
MODON to establish integrated pharmaceutical complex
The Saudi Authority for Industrial Cities and Technology Zones (MODON) has signed an industrial land lease covering more than 62 thousand square meters in the city of Madinah, to build a pharmaceutical complex including research and development centers, with a total investment reaching SR 570 million.
Saudi Aramco starts fuel trading from UAE with ex-BP, Pemex hires
Saudi Aramco hired two Singapore-based traders and began dealing in fuel at the Middle East’s main bunkering port as the world’s biggest oil exporter expands further into the trading business.
Telecoms tower company IHS plans ‘up to 30,000’ sites in Saudi Arabia
Telecoms tower company IHS plans to operate up to 30,000 masts in Saudi Arabia within the next five years, as part of a growth strategy in a country it sees as the “pulsating heart” of the Arab world.
Bahrain's Investcorp agrees sale of cyber security firm for $576m
Bahrain-based Investcorp on Wednesday announced that it has agreed to the sale of SecureLink Group, one of the largest dedicated cybersecurity infrastructure and managed services providers in Europe.
Chinese giant eyes Abu Dhabi for $10bn industrial project
Chinese manufacturing giant East Hope Group has announced it is working with KIZAD, Abu Dhabi's industrial hub, on the feasibility of setting up a project worth more than $10 billion.
Bahrain's Investcorp partners with brother of former US President
The brother of former US President George W Bush, has taken a seat on the advisory board of a unit of Bahrain-based alternative investment firm Investcorp.
Saudi Aramco signs US LNG deal with Sempra
Saudi Aramco has entered into a 20-year agreement with US-based Sempra Energy to purchase liquefied natural gas (LNG) from its subsidiary Sempra LNG, the two companies said on Wednesday.
Saudi retail giant debuts on Tadawul, valued at $3.3bn
Arabian Centres Company has debuted its shares on the main market of the Saudi Stock Exchange (Tadawul) following the successful completion of its IPO.
Saudi Aramco signs US LNG purchase agreement with Sempra Energy
Saudi Aramco has agreed to buy liquefied natural gas from Sempra Energy’s Texas export terminal and will discuss taking a stake in the project.
Dubai expats see disposable income drop by nearly a fifth
Dubai expatriate workers have seen their disposable income drop by nearly a fifth over the last year, as average monthly salaries decline faster than rental rates, according to a new global survey.
Etihad Credit Insurance, Dhaman partner to support growth and expansion of UAE businesses
Etihad Credit Insurance, ECI, has signed a reinsurance agreement with the Arab Investment and Export Credit Guarantee Corporation, Dhaman, to support the growth and expansion of the UAE businesses.
Saudi Arabia seeks private money to transform Red Sea beaches
Saudi Arabia is seeking private sector investment to turn an archipelago islands, desert and mountains - an area about the size of Belgium - on its Red Sea coast into a global tourism destination.
Exclusive tour of the Dubai Expo 2020 site
The construction of the Dubai Expo 2020 site has reached a key milestone as three thematic districts have been completed. More than 100 million working hours gone into developing the site and all expo-led construction is on track to be completed by the end of this year, officials revealed on Tuesday.
Dubai among world's top cities for high salaries
Dubai ranks 14th in the world in high monthly salaries and 11th in disposable income, according to a report by Deutsche Bank.
UAE starts issuing permanent residency 'Golden Card'
The UAE has started issuing the permanent residency documents to select people, it was announced on Tuesday.
Saudi Arabia’s consumer prices fall in April, fourth month in a row
Saudi Arabian consumer prices fell 1.9 percent year-on-year in April for the fourth month in a row but were unchanged from March, data from the General Authority for Statistics showed.
Banks boost Saudi stock market, Qatar hit by sell-off
Saudi Arabia’s stock market rose sharply on Tuesday, leading gains in most major Gulf bourses amid a global rally after Washington temporarily eased trade restrictions imposed last week on China’s Huawei. Qatar dropped due to a wide sell-off.
More UAE tenants paying less rent
With the persistent decline in rentals, the number of UAE residents paying reduced rents compared to last year have increased.
UAE set to add 56,701 new hotel rooms by 2020
The UAE's hospitality sector is all geared up for the World Expo 2020 with a significant capacity boost by adding 56,701 rooms that represent 33.6 per cent of the country's existing supply over the next one year.
Saudi Arabia fines 16 banks, including UAE bank
Saudi Arabia's central bank on Sunday fined 16 banks, including a UAE bank and some of Kingdom's largest banks, for violating its laws and asked all the lenders to correct the violations.
Al Salem Johnson Controls to open new Saudi factory in KAEC Industrial Valley
As part of its continued efforts to develop its business in the Region's markets, and contribute to the diversification of the Saudi economy
Inside the plans for Saudi Arabia's original economic city
On the Red Sea coast of Saudi Arabia, a new city in development is struggling to rise to the ambitious goals set by its founders. Time to call in the musicians.
Ajman Bank launches Makaseb Real Estate Investments
Ajman Bank, in collaboration with Rasmala Investment Bank, has announced the launch of Makaseb Real Estate Investments, domiciled in the Abu Dhabi Global Market (ADGM).
IMF loan package: Pakistan rupee likely to fall further against dirham
The Pakistani rupee is expected to depreciate by another 20 per cent in the next three years under a free-float exchange rate mechanism agreed with the International Monetary Fund (IMF) for a $6 billion financial package last week, experts say.
Dubai's Jafza to waive Dh35 million in customer fines
Jebel Ali Free Zone, Jafza, has announced that it will waive an estimated Dh35 million in fines owed by its customers, in commemoration of the UAE government's designation of 2019 as the 'Year of Tolerance'.
Saudi energy minister recommends driving down oil inventories, says supply plentiful
Saudi Arabia’s Energy Minister Khalid Al-Falih said on Sunday he recommended “gently” driving oil inventories down at a time of plentiful global supplies and that OPEC would not make hasty decisions about output ahead of a June meeting.
Contractor appointed for $1.4bn Jubail Island project in Abu Dhabi
A contractor has been appointed to carry out initial works for a $1.4 billion island development in Abu Dhabi.
More UAE tenants paying less rent
With the persistent decline in rentals, the number of UAE residents paying reduced rents compared to last year have increased.
Bahrain’s Bapco completes multibillion-dollar financing
State-run Bahrain Petroleum Co. (Bapco) has completed a multibillion-dollar financing aimed at expanding its refining capacity to 380,000 barrels per day (bpd) from 267,000 bpd.
Bahrain’s Investcorp hires Citi, JPMorgan for loan refinancing – sources
Bahrain-based alternative investment manager Investcorp has mandated Citi and JPMorgan to coordinate the refinancing of a $400 million loan, sources familiar with the matter said on Sunday.
Opec ready to act on oil market needs
Saudi Arabia's Energy Minister Khalid Al Falih said on Saturday that Opec will be responsive to the oil market's needs, but that he was not sure there is an oil shortage with data, particularly from the United States, still showing inventories building.
Saudi’s Falih says he sees no oil shortage, but OPEC to act if needed
Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market's needs.
Marriott says to add 3,000 new hotel rooms in MidEast, Africa in 2019
Marriott International has announced it expects to add 19 new properties and more than 3,000 rooms to its Middle East and Africa portfolio in 2019.
Dubai's unemployment rate still lowest globally
Unemployment in Dubai remained the lowest globally at 0.5 per cent last year with the jobless rate staying high among Emiratis compared to expats, according to official data released on Saturday.
Key development projects under way in Fujairah
A wide range of development projects are underway in the UAE's east coast emirate of Fujairah as it seeks to diversify its economy.
French majors eye Oman economic zone for investment
Four leading French companies have announced plans to explore investment opportunities in the Special Economic Zone of Duqm, Oman.
Dubai free zone to return $354m to firms in wage protection push
A Dubai free zone will become the first in the UAE to return cash and bank guarantees to businesses in a push to protect wages of its employees.
UAE's digital growth on track
The UAE is known to host global tech experts who come to assess the growth that has spiralled over the years.
MAF lists world's first benchmark corporate Green Sukuk
Majid Al Futtaim (MAF) on Wednesday marked the listing of the world's first benchmark corporate Green Sukuk, and the first Green Sukuk issued by a corporate in the region.
UAE residents plan to save more in 2019
Residents across the UAE have said that they are confident about improving their saving habits in 2019 compared to the previous year.
$80m expansion of Saudi shopping mall completed
The Red Sea Mall of Jeddah, owned by Red Sea Markets Company Ltd, has announced the completion of an $80 million expansion project, which began in 2014.
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