Qatar's statistics authority said on Sunday the economy grew 6.9% year-on-year in inflation-adjusted terms in the first quarter of this year thanks to soaring construction industry projects in the Gulf state. The country's real gross domestic product (GDP) also increased by...
About 3 million pilgrims will arrive in Makkah for the annual Hajj pilgrimage in October, many of them coming from a wealthy background. To cater to their need for luxury accommodation, hotel investment companies, including InterContinental Hotels Group Plc, Hyatt Hotels Corp. and Starwood...
Human Rights Watch warned Qatar to honour its commitment to reform employment laws for migrant workers ahead of the 2022 FIFA World Cup, amid fears that stadiums will be built using an exploited labour force. The New York-based rights watchdog...
Residents of Mogadishu wake up every morning to some good news, a rarity they've been afforded during the last eight months than ever before. A Turkish engineering team starts drilling of a new borehole soon after sunrise in a sprawl...
Iraq's government risks losing funding from international donors as millions of dollars in international aid to build and repair Iraq's dilapidated schools and other infrastructure has gone unspent for years. The World Bank, chief Iraq donor, is weighing to use...
The ruler of Fujairah has told a foreign news agency that the strategic oil pipeline bypassing the Strait of Hormuz will be operational by next month. "The pipeline will be operational in June," Sheikh Hamad bin Mohammed Al-Sharqi, whose east-coast...
UAE ambassador to Pakistan Eisa Abdullah Al Nuaimi inaugurated the $12.6 million (AED46.27 million) Sheikh Khalifa Bin Zayed Al Nahyan bridge over the Swat river in the former insurgent stronghold of Swat valley in northern Pakistan. The inauguration ceremony was...
Gulf states risk creating a glut in container capacity amid multi-billion dollar spending on port projects, a report published by Bloomberg said. More than 35 ports of the six Gulf states plan to add space for as many as 60...
Press Release Maskan Arabia for Real Estate Development today announced the launch of the preliminary excavation work at its new residential project, “BLOM Invest Maskan Arabia” Fund, in North Riyadh. The development will consist of 312 residential units, worth AED490...
Reports coming from Abu Dhabi on Monday said four international banks have been selected as financial advisors for the potential merger of Aldar Properties and Sorouh Real Estate, state-backed property developers. One of the sources familiar with the matter said the oil-rich emirate has hired Goldman...
Airports throughout the Gulf region managed to clinch the bulk of transportation contracts worth $2bn awarded during the first five months of 2012, a report said on Sunday. The new research suggested road construction stood second with contracts worth $1.6bn...
Saudi Arabia announced it has plans to invest SAR200bn ($53.33bn) in aviation sector over the next five years, country's English daily reported. According to Arab News, the spending will be made to meet future demands of the Kingdom's ever-increasing air traffic...
Qatar says it is considering a revamp of its controversial sponsorship system for foreign workers in the country and introduce a new system that is in line with international labour standards. Under the current system, all foreigners must be sponsored...
Kuwait’s state news agency KUNA reported the country's parliament rejected a bill that covered the government’s $111bn four-year development plan that started during the 2010-2011 fiscal year. Opposition lawmakers blocked the bill on Wednesday, describing it as “unrealistic”. They also...
Kingdom Holding's Prince Alwaleed Bin Talal announced on Sunday that Jeddah's Kingdom Tower would become the world’s tallest building when completed in 2017. He insisted that it will take no more than "63 months" to complete the 1,000m high skyscraper...
Azerbaijan has announced it seeks to build the tallest building in the world that will dwarf world's current record holder - Dubai's Burj Khalifa. The Caucasian state is riding high on oil revenues which has resulted in high-profile construction...