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Saturday, 30 July 2016 This newsletter reaches 162,112 readers, to advertise click here

Dubai property prices, rents may not rebound until 2018

New report says decline is likely to continue for the next 12 months, possibly up to 18 months

Saudis split over playing Pokémon at Grand Mosque

Scholars and others warn it threatens security and sanctity of Islam’s holiest place

Saudi central bank's foreign assets slump $11bn in June

Assets shrink 15.9% from a year earlier to their lowest level since early 2012

VAT in Bahrain could result in $568m windfall, says IMF

The 5% tax is likely to be introduced by January 2018, could also result in increased inflation

Gulf SWFs see worsening creditworthiness during 2016

S&P delivers verdict as Bahrain, Oman, and Saudi Arabia are sets to see average fiscal deficits of 12% of GDP per year in 2016 and 2017

Masdar Institute launches dust storm forecasting system

New system will help inform UAE residents as dust storm regularly cause road accidents, flight delays

Chinese investors said to be keen to raise Dubai property spending

Chinese real estate website chief says UAE has 'the perfect product for Chinese investors' as enquiries increase 40% in H1

Dubai Properties says construction underway at Mudon community

Developer says first phase of infrastructure now completed at sold-out Arabella 1 which is due to be handed over in 2018

Dubai's Drake wins $61.5m Iraqi oil field contract

Contractor is picked for the construction of water injection network installation project at Zubair oil field in Basra

Dubai's Al Futtaim hires London firm to create new retail brand

London creative agency Dalziel & Pow is appointed to create Homeworks, a new home improvement brand

Hospitality chain SFC Group says planning $16m UAE investment

Company plans to add 25 new SFC Plus restaurants over the next four years across the UAE

Bahrain's Gulf Air inks deal for new inflight entertainment package

National carrier signs agreement with Thales to supply entertainment system on 39 new aircraft on order


Why intellectual property fee hikes need to be redesigned

Several Gulf states have declared their intention to create ‘knowledge economies’ but high taxes on creativity do little to inspire, says Courtney Trenwith

How big are Saudi Arabia's oil reserves really?

There is widespread scepticism about the official estimates of kingdom's oil reserves, says Reuters analyst John Kemp

How the Brexit aftermath affects the GCC

There will be winners and losers as the global economy comes to terms with the still-unknown implications of the UK’s shock decision, says Courtney Trenwith

Is this third time lucky for Kuwait's struggling airport?

Delays in confirming a $4.34bn deal to revamp Kuwait International proves the country is still moving too slowly to develop its infrastructure, says Courtney Trenwith

It's not too late for Kurdistan

The autonomous region of northern Iraq may have fallen from its lofty heights of 2013, but there is still plenty of potential, says Courtney Trenwith

A cautionary tale from the Dubai property market

While a recent episode involving an off-plan developer and unhappy investors has been resolved, it should serve as a lesson to potential buyers.

Saudi Arabia’s economic balancing act

The kingdom needs to manage a fine line between delivering targets and not overrunning costs.

The case for consolidation in the UAE's banking sector

If two of the UAE’s largest banks can see the benefits in merging, why are the smaller institutions so reluctant, asks Courtney Trenwith


5 restaurants and bars to try on Sheikh Zayed Road

Dubai’s famous road is home to some of the city’s best dining and nightlife scenes

8 barbers to try in Dubai

Our selection of sophisticated spots would make style guru David Beckham proud

5 tips for buying seafront property in Dubai

Views are a big part of choosing waterfront property

Revealed: Travel style inspiration from Dubai’s ladies

Find out how these ladies mix comfort and style for smooth travel

Latest Reader Comments

30th anniversary special: How Emirates brought the world to Dubai
Rosanna Penilla-Bharucha : Congratulations, Emirates Airlines! Happy to mention here that I was one of the first passengers on their first flight to Gatwick Airport many years ago. I travelled on Emirates many times more around the globe when I was in Dubai. Back then it was the best aircraft and more so now. Keep it up!...
Canada - Thursday, 28 July 2016 5:14 PM

UAE should ease spending cutbacks, says IMF
khalid : countries dont seem to ever get the IMF and World Bank to be happy. if they have deficits, they 'advise' them to increase tax, remove subsidies and cut public spending.
if the countries start to do it, then they start to 'advise' to avoid that and use your reserves or sell important public insti...
uae - Thursday, 28 July 2016 5:15 PM

Middle East online jobs market sees record 21% slump in June
khalid : not all have the 'expat package'. companies are just filling the positions (mostly with 'leftovers'). hence the results are clearly shown. (lack of product knowledge - poor services in most places - basic communication skills - high turn around of staff).
the reasons are nothing to do with weath...
uae - Thursday, 28 July 2016 5:15 PM

Real estate agent claims 'definite shift' in Dubai property market
Mazher Fakher : Likewise I can guarantee that all the people talking the market up are either agents or sellers...
UAE - Thursday, 28 July 2016 5:15 PM

UAE to exempt some SMEs from need for bank guarantees
Arman : Do you have the contact for "Youth Project Development Organisation" should our company wish to become a member. Appreciate your help! :)...
UAE - Thursday, 28 July 2016 1:04 PM




Flagging non-oil business dampens outlook for Gulf

Poll of economists forecasts reduced growth in region as gov't austerity measures impact business activity


Janoa Investment buys $119m stake in Dubai's Aramex

Deal to buy 99.4 million Aramex shares comes just days after its founder reportedly sold all his shares in the company


UAE's Mubadala set to buy 20% stake in Bahrain's Investcorp

Mubadala will buy 9.99% immediately, and a further 10.01% following the necessary regulatory approvals


Exclusive: DIFC Courts logs $925m of claims in H1, 48% rise

Number and value of cases brought to Dubai’s commercial courts up as economic uncertainty deepens


Unruly passenger forces Dubai-Kozhikode flight into emergency landing at Mumbai

Officials deny the unruly passenger made “pro-ISIS slogans”


IMF says UAE's property loans improving despite price declines

International Monetary Fund says loan quality rise is sign that UAE is coping better with property downturn than 7 years ago


'Open skies' talks: Gulf airlines to face no action

Discussions between US, UAE and Qatar follow claims that Emirates, Etihad and Qatar Airways have competed unfairly


Emaar says wind tests completed on new tallest tower project

The Tower at Dubai Creek Harbour will become the city's tallest at 928 metres, dwarfing the Burj Khalifa by 100 metres


Dubai's Nakheel says H1 net profit up 4% to $803m

Developer hands over 1,177 homes during first six months of 2016, says more to follow in H2


India's Sahara dismisses $1.3bn UK-Gulf bid for luxury hotels

Embattled company describes bid as 'baseless'; says it values prime assets in London, New York under market value


Jewel of the kingdom: L'azurde's Sélim Chidiac

Saudi Arabia’s best-known jewellery brand L’azurde is poised for growth since it went public in June. CEO Sélim Chidiac tells Arabian Business about the $400m firm’s acquisition plans and why the government’s “aggressive” Vision 2030 policies are crucial for businesses in the kingdom.

Rising sun: the Middle East's renewables revolution

From one energy source to another, the Middle East is swiftly turning from oil to renewables, with among the most ambitious growth targets globally

Just the job: US entrepreneur Ron Bruder

As the Arab world grapples with the dilemma of creating 200 million new jobs for youth, employers complain of a widening skills gap. US entrepreneur Ron Bruder says his Education for Employment (EFE) foundation, which recently won the support of the UAE and Saudi governments, is pushing universities towards a “tipping point” where they will no longer be able to produce unemployable graduates

New Saudi snow city tests kingdom's capacity for fun

Mixed-gender attraction is a rare opportunity for Saudis of all stripes to blow off steam

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from the brink of a financial crisis that risked damaging the wider economy

How an exodus of professional workers is reshaping Qatar

Many of the foreign workers who make up the bulk of the 2.5m-strong population have been affected by lay offs

Could the GCC have a free zone-free future?

Free zones, particularly attached to major ports, have become key economic drivers for cities around the world. But as new megaports are developed across the GCC, some are questioning the continued relevance of special incentives

Breaking the mould: Shahid Khan

Gulf family businesses are persistently accused of restraining their own success by refusing to allow experienced outsiders to help steer the ship. But having taken two of the region’s biggest firms into unchartered expansion, veteran executive Shahid Khan is now making waves with his third, Kuwait’s Al-Yaqout Group

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