Economy Minister says it will promote competitiveness of SMEs
Author Archives: Staff Writer
Ride-hailing apps helping to drive economic, social change in Saudi Arabia
Uber, Careem will soon employ more Saudi men than Aramco, bringing wave of young Saudis into private sector
Aviation
Tim Clark expects a ‘flat’ 2017 for Emirates
Emirates president said the year could be ‘slightly worse’ than 2016
Gov’t action plan needed to help hotels overcome financial challenges in Bahrain, say experts
Four and five-star hotels reported an average room occupancy rate of 40 percent in 2016 while occupancy rate fell from 56 percent in 2015 to 49 per cent in 2016
Malaysia looks to Qatar for investment in tourism, infrastructure
Ambassador says Qataris view Malaysia as a key holiday destination
Saudi Arabia moves to increase pilgrim numbers after ’10-year low’
Quotas restored following cut to enable expansion of the Grand Mosque in Makkah
Saudi Arabia’s SAMA hikes mortgage cap to 85%
Loan limit raised from 70 percent, applies to first-time Saudi buyers
Car bomb in eastern Baghdad kills 13, wounds 50
The explosion hit the mainly Shi’ite district of Jamila
UAE nuclear power plant reactors are 75% complete, says ENEC
Barakah plant will come online in 2020, meet 25% of country’s power need
Kuwaiti MPs call for the deportation of 100,000 expats annually
Lawmakers demanded reducing the number of expats by 10 percent annually and “getting rid of those the Kuwaiti market does not need”
Dubai’s Tamweel Tower unit owners’ expect to move in by April – report
Third-party cladding test report to be submitted to the DCD by month-end, says OA
Saudi ATMs ‘refusing to accept new banknotes’
Central bank began issuing new currency notes, coins on December 26
Pilot ‘error’ blamed for Atlantis Palm helicopter crash, says GCAA
Report says investigation not aimed to apportion blame or liability
Palazzo Versace Dubai launches The Spa
Wellness venue feature mother-of-pearl details, birch wood walls, marble floors and Versace-style mosaics
Dubai rent index 2017: Two-beds 14% cheaper in Marina, 30% costlier in Arjan
No change in rentals in Business Bay, International City and Discovery Gardens
7 new industries to watch in 2017
Technology is evolving rapidly. Here are seven industries to watch over the course of the next year (and beyond)
The smell of success: Shahzad Haider
The Fragrance Foundation of Arabia’s Chairman, Shahzad Haider, on the future of fragrances
SMEs
Entrepreneur of the Week: Valerie Konde, founder of Collectionair
How Valerie Konde balanced business know-how and art expertise to launch Collectionair.
Djokovic makes statement in thrilling win over Murray in Doha final
Serbian missed out on three match points before ending Murray’s 28-match, five-tournament winning streak
Prince Mohammed readies strategy if Saudi clerics oppose reforms – report
Punitive measures would be considered for any clerics who incited or resorted to violence over the economic reform plan
Two terror suspects killed in Saudi security operation
Security officer was wounded in the operation in the al-Yasmin neighbourhood in northern Riyadh, after the two suspects engaged in a shootout
Demand for Abu Dhabi real estate to remain stable
Legal reforms, new businesses at Abu Dhabi Global Market and increased FDI from countries, such as China, India and Saudi Arabia will bring plenty of new buyers to the UAE capital
An opportunity in disguise for Bahrain
The driving force of growth in Bahrain is shifting from increases in capital, land and people to improved productivity
Aviation
Despite the many challenges in aviation, global appetite for travel remains resilient
Beyond global politics and socio-economics, digitisation and disruptive technologies will play a key role in defining the aviation industry and Emirates airline’s future
Abu Dhabi seizes over 1,200 abandoned vehicles in 2016
First-time offenders get 50% rebate on fines, doubles on repeated violation, says Municipality
The year of democratising digital transformation
Executives need to get out of the boardroom and listen to their workers if they are to succeed with digital transformation
What Brexit should mean for UK-Africa trade
Britain should leverage its historic ties with Africa as it searches for trading partners in a post-Brexit world
GCC banks and petrochemicals likely to outperform in 2017
Value and improving market fundamentals could produce a turnaround in sentiment for the two sectors, but equity investors take a long term view
Dubai registers double-digit growth in tourists from Philippines, Pakistan and China
Indians, Saudis and UK citizens top the list of visitors in the first 10 months of 2016, says Dubai Tourism
UAE foundation to clear debts of over 300 patients
2017 has been declared as the ‘Year of Giving’ in the country
Rosneft purchase leads $82 billion spree by sovereign investors in 2016
In 2017, sovereign investors are set to look more at opportunities in e-commerce and financial technology, following Saudi Arabia and SoftBank Group’s plans to create a technology investment fund to hunt out deals
Qatar’s Hamad International to boost capacity with major expansion plan
Doha airport became the sixth airport in the world to be awarded 5-star rating by Skytrax
Kuwait Stock Exchange appoints new chairman
Bourse named as chairman Mohammed Ahmed Alsaqqaf after previous chairman Essam Abdul Mohsen al-Marzouq was appointed to head the oil ministry
Murray and Djokovic face off in Doha final
World number one Murray swept aside Czech third seed Tomas Berdych 6-3 6-4 to record his 28th consecutive victory
Dubai eyes plan to cut hospital ER visits by 30% by 2027
Healthcare improvement plan is one of latest projects launched by Dubai Future Accelerators initiative
Abu Dhabi’s ADFD in talks of funding new projects in Morocco
Abu Dhabi Fund for Development dispatches delegation to Morocco to study and assess new development projects
4,500 Dubai taxis now fitted with Makani mapping app, says RTA
Roads and Transport Authority says step taken as part of efforts to transform Dubai into the world’s smartest city
Aviation
Saudi national carrier set to retire 25 aircraft in 2017
Saudia has started to renew its fleet with the retirement of its Embraer 170 aircraft
Qatar’s GDP growth set to rebound in 2017 on World Cup spending
IMF says growth to rise to 3.4% this year as Gulf state effectively adjusts to new era of lower energy prices
Abu Dhabi’s Mubadala said to mull up to $15bn investment in tech fund
Mubadala Development Co is reportedly considering a commitment of $10-15bn in the SoftBank Vision Fund
Dubai Health Authority says 1.1m patients treated in 2016
Dubai and Rashid hospitals had the highest number of visits with 382,106 and 325,619 patients respectively
Saudi Arabia imposes ban on some European poultry imports
Saudi Food and Drug Authority issues temporary ban in provinces in five countries after avian flu outbreak
Qatar 2022
Swiss court rejects claim against FIFA over Qatar World Cup
Claim made by Dutch and Bangladeshi trade unions accusing FIFA over alleged human rights violations on Qatar 2022 construction sites
Du-linked consortium completes 20,000km subsea cable project
Dubai-based telco part funds $500m optical fibre submarine communications cable system which spans 16 countries
Dubai’s stock market capitalisation jumps 12% to $92bn in 2016
Dubai Financial Market also says number of shares traded increased by 14.2% to reach 105.8 billion
Saudi private sector growth rebounds after hitting record low in Oct
December business survey data shows output rises at sharpest rate since August but staffing levels increase only marginally
Oman’s sovereign foreign assets forecast to slump by 2018
Fitch says asset set to fall to 28% of GDP compared to 48.5% of GDP at the end of 2016
All the world’s a stage in Dubai
There is plenty more to be excited about with the Dubai Opera 2017 calendar, says Jasper Hope, chief executive at Dubai Opera
Forget post-oil, Saudi Arabia needs a pre-oil economy
Kingdom’s historical culture of entrepreneurship is the way forward, says Fahd Al Rasheed, group CEO of King Abdullah Economic City
Unit of Kuwait’s KFH buys US office tower for $165m
KFH Capital Investment Co announces acquisition of an office block rented by Panasonic Corp in New Jersey
Kuwait eyes $37m US deal for bombing guidance kit
US State Department approves possible military sale of equipment to convert unguided bombs into smart munitions
Qatar Airways plans major expansion of Americas cargo network
Doha airline says it will launch freighter operations to four new destinations in the Americas, starting in February
Dubai Duty Free sales fall slightly to $1.8bn in 2016
Airport retailer says it registered a total of 27.1m sales transactions; perfumes were top seller
Dubai plastic surgery clinic eyes expansion despite blaze setback
British founders of The Private Clinic in Jumeirah say they are still planning growth after fire rips through premises