Dubai real estate news, Mohamed Alabbar’s funding pledge, GEMS unveils $100m school and more top news stories
Kuwait
Kuwait real estate
Sharjah real estate: Kuwaiti developer announces massive $953m Al Tay Hills project with UAE’s longest green river
A giant Sharjah real estate development with 1,100 homes and a 2.5km river will hand over its first phase in 2028
corporate taxes
New Kuwait tax to raise $800m a year: Minister
Kuwait has introduced a new tax for multinational enterprises and expects to raise around %800m from 300 companies
Kuwait real estate
The Kuwait real estate sector is thriving – here are 6 reasons why
Kuwait real estate sector riding high on back of $32.6bn infrastructure spend, residential megadevelopments and changing rules for foreigners
GCC
GCC population up to 57.6m as trade hits $1.482tn
The GCC is growing in population size and also as an economic force
Corporate tax
Kuwait begins 2025 with a 15% tax on MNCs in economic diversification bid
The new tax is part of the country’s broader effort to promote economic development and ensure financial sustainability
Bahrain
Emirates announces Airbus A350 flights from Dubai to Kuwait and Bahrain
Emirates brings forward Airbus A350 flights to Kuwait and Bahrain
Kuwait
Kuwait’s new 15% tax on MNEs to strengthen national economy, minister says
Kuwait’s economy is approaching a new phase of diversification and competitiveness, Fassam said
Kuwait bids for 2031 AFC Asian Cup hosting rights
Plans are underway to renovate Fahaheel Club Stadium in Kuwait by February 2025
Kuwait
Kuwait announces new tax
Kuwait will introduce a new 15% tax on multinational entities from January 1
Aviation
Kuwait Airways threatens legal action against rumourmongers
The airline denied social media reports on the safety standards of tires in its newly-inducted planes
acquisition
Burgan Bank receives CBK approval to acquire Bahrain’s UGB
Purchase price of the transaction settled at $190 million; Acquisition expected to be completed in the first quarter of 2025
inflation
F&B and clothing price increase pushes Kuwait’s inflation up by 2.36%
Among major expense heads, transportation costs decrease compared to November last year
Bilateral Agreement
Kuwait and India agree to cooperate in a wide range of fields
The two countries form a strategic partnership following Prime Minister Narendra Modi’s two-day state visit
Capital Markets
GCC debt capital markets to hit $1tn
Fitch Ratings expects debt capital markets in the GCC to grow in 2025
CBUAE
New tax in the UAE; Lottery warning; Crypto trading in Dubai; Kuwait halts e-visas; Saudi to host 2034 World Cup – 10 things you missed this week
UAE tax, UAE Lottery, crypto in Dubai, Kuwait visas, Saudi World Cup and more top news stories this week