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Mashreq profit hits Dh1.76b
Mashreq, a leading financial institution, reported on Monday a slight upswing in net profit to Dh1.76 billion for the first nine months.
Revealed: Most influential buildings in GCC and globally
As many as six skyscrapers from the Gulf region - including two from Dubai and one from Abu Dhabi - have been rated as the most influential tall buildings of the last 50 years, according to the Council on Tall Buildings and Urban Habitat (CTBUH).
Russian and Chinese investors in talks about Saudi Aramco IPO involvement
Russian and Chinese investors are keen to be involved in the international element of the forthcoming initial public offering of Saudi Aramco, a Russian business leader told Arab News on Monday.
Women founders are magnets for company investment, say UAE experts
Industry experts in the UAE have strongly backed a report that found that start-ups with female founders raised 21 percent more in venture capital (VC) funding than companies with all-male teams.
Oman sets up two new ministries
Oman has set up two new ministries – the Ministry of Technology and Communications and a Ministry of Arts Affairs.
Abu Dhabi International Boat Show kicks off this week with many activities for families
A drama show depicting the story of a well-know Emirati navigator in maritime, Ibin Majid, on how he travelled the world and the sailing methods he used in the old days, fishing sea-food competitions and marine recreational activities are among the activities organised for families at this year's boat show in Abu Dhabi.
Why Dubai matters to the rich
Dubai ranks third among the world's top cities that are expected to grow strongly in terms of total wealth over the next 10 years, according to a study released on Thursday.
UAE to set up uniform platform for gold trading and tracking
Dubai ranks third among the world's top cities that are expected to grow strongly in terms of total wealth over the next 10 years, according to a study released on Thursday.
Saudi Arabia opens new logistics zone in Jeddah
Saudi Arabia launched on Sunday a new logistics zone open to private investors in the Red Sea port city of Jeddah, as part of a wider industrial initiative to diversify the economy away from oil and create jobs for Saudis.
Gulf markets rise as traders await Aramco IPO details
Equity markets in the Middle East advanced, tracking earlier emerging market gains. Saudi Arabia’s benchmark led the way, as traders wait for Saudi Aramco to pull the trigger on its mammoth IPO.
Kuwait sees biggest gain in competitiveness scores in GCC
Kuwait ranked 46th in the latest competitiveness index rankings climbing eight positions from the previous report, the biggest jump in the GCC.
Fitch affirms Warba Bank ratings at A+
Fitch Ratings affirmed Warba Bank’s credit rating with a stable outlook on Long-Term Issuer Default Rating (IDRs) which is in line with its Support Rating Floor (SRF) of A+ which reflect the high credit quality and low risk of default.
Boursa Kuwait launches int’l crossing orders
As part of its ongoing efforts to further contribute to the development of Kuwait’s capital market, Boursa Kuwait launched Intentional Crossing Orders.
$200 billion Russian projects beckon UAE
Russia is on the verge of throwing open $200 billion worth of national infrastructure projects, which the Kremlin believes is a golden opportunity for the UAE government and investors. Officials here also told Khaleej Times cooperation in the space and nuclear sectors could also be very significant.
Bahrain to open $1.1bn terminal in March, says Crown Prince
Bahrain International airport will open its new $1.1bn terminal in March next year, according to the kingdom’s Crown Prince.
UAE business permits total over 572,600 as investors move in
A total of 32,256 business licences were issued in the UAE over the first eight months of the year, signalling growing investor confidence in the country.
Saudi Arabia bucks subdued construction market with Vision 2030 push
Saudi Arabia bucked the trend on a subdued regional construction sector in the second quarter of 2019 as its Vision 2030 acted as a catalyst for building activity, new research has revealed.
UAE among top 25 competitive economies: Report
The UAE has climbed two positions in the Global Competitiveness 2019 report to join the top 25 club and maintained its status as most competitive economy in the Arab world for the 4th consecutive year.
Why Dubai matters to the rich
Dubai ranks third among the world's top cities that are expected to grow strongly in terms of total wealth over the next 10 years, according to a study released on Thursday.
More taxes in UAE starting December 1
The UAE Ministry of Finance announced on Thursday its decisions to expand the scope of excise tax starting December 1, 2019. This includes Cabinet Decision No. 52 of 2019 on excise goods, excise tax rates, the methods to calculate excise prices, amendment of Cabinet Resolution No. 38 of 2017 on excise goods, excise tax rates, the formula to calculate excise prices, as well as Cabinet Decision No. 55 of 2019 on excise price of tobacco products.
BP taking $3 billion hit on asset disposals
British energy major BP said Friday that it will take a charge of between $2 billion and $3 billion on the back of major asset sales including its Alaska division.
SABIC chief: ‘Firms with integrity will reap reward’
The opening up of Saudi Arabia’s stock exchange to international investors has attracted scrutiny of the Kingdom’s publicly traded companies and their standards of compliance and integrity, according to the CEO of SABIC.
Saudi Arabia remains South Korea’s top oil supplier after Iran sanctions
Saudi Arabia remains the largest crude supplier for South Korea in the absence of Iranian oil shipments, according to customs data.
UAE among top 25 competitive economies: Report
The UAE has climbed two positions in the Global Competitiveness 2019 report to join the top 25 club and maintained its status as most competitive economy in the Arab world for the 4th consecutive year.
Dubai's non-oil sector grows as sales pick up
Dubai's non-oil private sector strengthened in September on the back of a solid increase in sales.
UAE Central Bank sets early settlement fee limit for mortgages
The Central Bank of the UAE directed local banks to reduce the early settlement fee on mortgages to a maximum of 1 per cent or Dh10,000, whichever is less, to those borrowers who want to exit their mortgages early.
UAE central bank sets early exit fee limit for mortgages
The Central Bank of the UAE directed local banks to reduce the early settlement fee on mortgages to a maximum of 1 per cent or Dh10,000, whichever is less, to those borrowers who want to exit their mortgages early.
RDIF opens first overseas office in Saudi Arabia
The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, has opened its first foreign office in Saudi Arabia.
Initial nod for KFH AUB takeover
Kuwait Finance House has received conditional approval from Kuwait’s Central Bank for its proposed acquisition of Bahrain’s Ahli United Bank.
Kuwait’s non-oil economic growth expected to reach 3.5% in 2020
Kuwait’s non-oil economic growth in 2020 is expected to reach +3.5 percent, according to report from IMF.
Dubai offers good conditions for property buyers
Attractive property prices due to moderate declines, pro-active government measures, a maturing market, and renewed interests from first time home-buyers as well as investors appear to have given Dubai's real estate sector more reasons to be upbeat in the fourth quarter, according to property experts.
Aviation to support 1.4 million jobs
The UAE's aviation market is poised to grow 170 per cent by 2037, support 1.4 million jobs and contribute $128 billion to the nation's economy, the International Air Transport Association, or Iata, said on Tuesday.
Bahrain reveals plans to open for private jet terminal
The Civil Aviation Affairs building, which once served as the Bahrain’s main airport, will be transformed into a private aviation terminal.
Construction costs remain stable as Saudi property sector grows
The Saudi Arabian construction industry is set grow exponentially from 2020 onwards, spurred by increased government spending and a growing population.
Saudi Aramco approaches Asian state oil producers on IPO
Saudi Aramco sought to underpin the targeted $2 trillion valuation for its initial public offering by increasing dividends, paying less tax and finding cornerstone investments from major Asian oil producers.
DP World unveils design for Expo 2020 Dubai pavilion
DP World has revealed the design of its Expo 2020 Dubai pavilion, which will be one of the largest at the site.
Boursa Kuwait participates in 59th WEF meetings
Boursa Kuwait attended the 59th General Assembly and annual meeting of the World Federation of Exchanges (WFE), the trade association of publically regulated exchanges.
Riyadh governor inaugurates Saudi Build exhibition
Riyadh Gov. Prince Faisal bin Bandar inaugurated Saudi Build 2019 at the Riyadh International Convention & Exhibition Center on Monday.
Kuwait to sell 44% stake in two power projects
Kuwait plans to sell stakes of as much as 44 percent in the Al-Zour and Khiran power projects in 2020 and 2021, according to media reports.
Saudi relaxes rules on banking to promote e-commerce companies
The Saudi Arabian Monetary Agency (SAMA) has eased banking services for e-commerce companies in a bid to encourage more businesses to open up in the kingdom.
PIF subsidiary Sanabil said to acquire 49% stake in consulting firm Richard Attias
Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund, has acquired a 49 percent stake in consulting firm Richard Attias & Associates (RAA).
UAE businesses can now get worker permits in 48 hours
The UAE’s Ministry of Human Resources and Emiratisation will now be able to issue work permits in as fast as two days thanks to its new smart committee service, it announced at Gitex Tech Week 2019.
Details of Ireland's Expo 2020 Dubai pavilion plans revealed
Ireland’s Expo 2020 pavilion will be based around the country’s magnificent Stone Age Newgrange monument.
Dubai trade bucks global slowdown trend
Dubai's economy has once again showed its resilience by posting a 5 per cent year-on-year increase in non-oil trade during the January-June 2019 period due to a flexible business model and the ability to adapt to change that helped offset the impact of a slowdown in the global economy.
Fintech to drive UAE's growth in 2020
The UAE's fintech sector is poised to enter 2020 with robust deals as more investors and startups explore investment opportunities.
Abu Dhabi issues $10b multi-tranche bonds
Abu Dhabi, in its first international offering in two years, has issued $10 billion multi-tranche bond that received overwhelming global investor response, reflecting the strong investor confidence in the emirate's solid credit fundamentals.
Saudi state departments ordered to respond to queries within 24 hours
Saudi Arabia has requested all of its state departments including ministries to respond to any public queries within 24 hours in a bid to enhance the speed and rate of response by government authorities, sources told Arabic-language newspaper Okaz.
Saudi Aramco seeks to refinance $2.2bn of Total JV debt
Saudi Aramco is in talks with banks to refinance $2.2 billion of debt held by its joint venture with Total SA, according to people familiar with the matter.
Dubai soars to No. 8 among global financial powerhouses
Dubai has risen up the ranks of the Global Financial Centres Index (GFCI) to No. 8 position, representing its highest ever ranking.
GCC leads in ease of doing business
Four GCC countries - Saudi Arabia, Bahrain, Kuwait and Qatar - have been listed among the World Bank's top 20 improvers in its Ease of Doing Business 2020 list, along with India and Pakistan.
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