Top global oil producers – including Saudi Arabia and Qatar – have agreed on a joint action to help oil prices improve from their lowest in more than a decade.
Author Archives: Staff Writer
SMEs
Dubai website launches campaign against one-cheque rents
Micropolis says typical requirement to pay a year’s rent upfront is crippling SMEs
Moody’s cuts Oman’s credit rating ahead of possible international bond issue
Sultanate’s sovereign bond issue could take place as soon as Q2, move follows S&P downgrade
Deira Islands bridge to be completed by end of the year – RTA
$41m project 22% complete, will link Nakheel megaproject to mainland
Land Rover BAR dominate first day of America’s Cup World Series in Oman
Ben Ainslie’s team takes two wins out of three on first day of two-day event
Abu Dhabi appoints new CEO for Masdar
Mohamed Jameel Al Ramahi takes on top role after Ahmad Belhoul’s promotion to UAE cabinet
ICD in talks to fund new Atlantis hotel, DIFC tower – report
State-owned holding company arranging $1.1bn in loans for two major Dubai projects
Sina Holding plans $500m investment bank for Iran
Tehran-based financial services group aims to partner with an international bank to access global markets
SMEs
Dubai’s first ever Global Mentoring Walk
Serial entrepreneur Mona Tavassoli invites women leaders and emerging women leaders to take part in the city’s first organised walk of mentors and mentees.
SMEs
High-profile investors to scout for ideas in Dubai
A limited number of highly curated sessions with investors will be offered to entrepreneurs in Dubai on 1 March.
SMEs
Entrepreneur of the Week: Khalid Alkhudair, founder of Glowork
The founder of Saudi’s Glowork has launched a mobile app to boost female labour-force participation across the region.
Dubailand affordable housing project sold out ‘within hours’
Dubai Properties Group reports “intense demand” for Serena masterplanned community
MidEast billionaire set to take $277m stake in Premier League club
Everton FC confirmed British-Iranian billionaire Farhad Moshiri is to take 49.9% stake in the Liverpool club
Rouhani, moderates make big gains in Iran polls
Early results suggest a resounding vote of confidence for President Hassan Rouhani
Stan Wawrinka wins Dubai title after marathon tiebreak
Swiss star edges out Cypriot Marcos Baghdatis in final of the Dubai Duty Free Championship
Bahrain to build 25,000 housing units within 4 years
With 13% of the project now completed, Housing Minister says construction will not be affected by the plunging oil prices
RAK Properties says 2015 revenues grow 23.5% to $100m
Ras Al Khaimah’s biggest property developer also reports 2.8% increase in new profit as portfolio grows
Ooredoo, Huawei say planning to open Qatar innovation lab
Ooredoo CEO says agreement will create a research hub to explore cutting-edge network technology
Mediclinic breaks ground on new 150-bed Dubai hospital
Construction work starts on Mediclinic Parkview Hospital, slated for completion by the end of 2018
Rights group accuses Oman of ramping up pressure on activists
Human Rights Watch claims Omani activists are seeing a decline in freedom of expression
Arabs lament missed opportunity in FIFA presidency race
Pundits say Bahrain’s Sheikh Salman would have had a better chance if his efforts were united with Jordan’s Prince Ali
Dubai Marina to host Red Bull Cliff Diving World Series final
Pier 7 restaurant will act as the 27m high diving board for the event which will take place in October
Emirates set to launch new Myanmar, Vietnam flights in August
Dubai airline says it will start daily service to Yangon and Hanoi from August 3 as it expands Southeast Asia network
Dubai’s Azizi launch $95m luxury Palm Jumeirah project
Azizi Developments says construction of Royal Bay scheme has begun and is scheduled to be completed by March 2017
Dubai’s TECOM Group talks to banks about $272m loan
Sources say business park operator is looking for funding to finance building projects in Dubai
Energy drink firms eye Africa, India amid Saudi tax plan
Companies say Saudi Arabia’s 100% tax proposal on energy drinks is forcing them to look elsewhere for expansion
Dubai launches new rules to regulate growing holiday homes sector
Dubai Tourism announces resolution to provide greater transparency, safety and standardisation of market
GCC seen implementing more economic reforms in era of cheap oil
New report says persistent weakness in oil prices has taken a toll on GCC countries which will seek to raise gov’t revenues in 2016
Dubai apartment rental growth seen as ‘sluggish’ during Q1
New Chestertons report says most rents remained the same during Q4 2015 amid economic slowdown
Bahrain’s Sheikh Salman loses out to Infantino in FIFA presidency vote
UEFA General Secretary Gianni Infantino wins race to succeed Sepp Blatter as president of world football’s governing body
The transformer of medicine: Omar Ishrak
Global medical device company Medtronic has continued to make strides across the world, including multiple acquisitions. During a visit to the Middle East, CEO and chairman of Medtronic Omar Ishrak reveals why the region has one of the strongest healthcare growth prospects globally
Saudi Arabia lists 4 firms, 3 Lebanese men for links to Hezbollah
Move comes after Saudi Arabia last week suspended aid worth $3bn to the Lebanese army
Djokovic forced to pull out of Dubai tournament with injury
World number one tennis player retires from quarter-final match after suffering an eye problem
Big turnout as Iran votes to shape post-sanctions era
Early signs of enthusiastic participation in Iran’s first polls since nuclear deal led to lifting of sanctions and deeper diplomatic engagement abroad
Dubai’s nine-month foreign food trade grows to $18.7bn
Dubai Customs figures reveal 4% increase in imports, exports and re-exports of foodstuffs in 2015
Gulf builders urged to cut headcount as market slows
Report by Strategy& says construction firms must take action to reduce costs as regional economy stalls
Saudi Arabia seeks $200m military training deal with US
Gulf kingdom requests possible military deal with the United States Military Training Mission to Saudi Arabia
Dubai-backed smart city opens, eyes 90,000 tech jobs by 2020
Dubai Holding has announced the opening of the Kochi Smart City project in Kerala
Oman set to host historic America’s Cup this weekend
Sultanate will become first Middle East country to host round of prestigious sailing competition
Cybercrime warrior: Symantec’s Michael Brown
Using the internet is a risk most businesses and individuals take for granted. But as more data is stored online, the world is becoming ever more vulnerable, the head of global internet security firm Symantec, Michael Brown, says
The world according to billionaire Mo Ibrahim
As the founder of the world’s richest cash prize, Sudanese billionaire businessman and philanthropist Mo Ibrahim is unapologetically striving to solve Africa’s governance crisis and clean up business globally — including in the Middle East
Why VAT is just one step on the road to economic reform
While consumer goods are the best tax target, GCC states must also improve their own inefficiencies, says Courtney Trenwith
GCC healthcare sector forecast to grow to $71bn market by 2020
New Alpen Capital report says more than 12,000 extra hospital beds will be needed in next four years
MidEast banks face profits crunch amid lag on digital services
New survey says more than 50% of customers in UAE, Saudi Arabia are willing to switch to get more online services
Dubai property prices forecast to rebound in 2017
New KPMG report says 2016 may be another ‘challenging year’ but market is likely to see upturn in 2017
ENOC Retail says planning to build 54 new Dubai fuel stations
Retail business unit of Emirates National Oil Company outlines growth plans for next four years
Saudi’s Sidra inks deal for luxury London residential project
Financial services firm signs partnership with developer to build townhouses near famous Abbey Road
US named top overseas location for UAE property investors
New survey also shows that the UK, Australia, Singapore and Germany are among most popular destinations for investment
Revealed: the power of holding a UAE passport
New report says UAE passport is best one to have in MENA region, with visa-free access to 122 countries
Bahrain jails four men on terrorism charges
Several wanted Bahrainis have reportedly fled to Iraq, are attempting to lure other nationals to militant training camps
Rating agency risk mounts for Saudi Arabia as views diverge
Investors in Saudi Arabia now have a new source of uncertainty: widely different views from the world’s three major credit rating agencies
Abu Dhabi’s Aabar said to close in on $4.4bn loan
Sources say state fund Aabar Investments is set to secure loan to refinance existing debts
European Parliament calls for Saudi arms embargo
EU lawmakers say European governments should no longer sell weapons to country accused of targeting civilians in Yemen
Saudi Arabia’s state utility to be split up by year-end
Senior official says four power generation companies will be created from the assets of Saudi Electricity Company