A look at today's financial news and business updates from the Middle East region: UAE allocates $43.38m for eGovernment transformation A top UAE official announced the government has allocated AED159.36m ($43.38m) for Emirates eGovernment between 2012-2014 as part of a major...
UAE non-oil foreign trade soars in 2011 The non-oil foreign trade sector in United Arab Emirates hit AED1.3 trillion ($350bn) in 2011 compared to AED1.1 trillion ($300bn) in previous year, registering an increase of AED200 billion ($54.54bn) with a growth...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa UAE’s gold ATMs used for $7m transactions by investors, tourists Gold vending machines were used by tourists and...
Abraaj Capital eyes India for investment, expansion Abraaj Capital, the Middle East’s largest private equity firm, has announced plans to expand further in India. Dubai-based Abraaj joined hands with Sabre Capital, a leading private equity firm in India, to form...
A look at today’s important financial news and business updates from the Middle East region: UAE lifts ban on British beef imports The UAE Ministry of Environment and Water announced on Tuesday it is lifting the ban on the import of...
Both Khaleej Times and Gulf News have featured the developments regarding Syria. Gulf News said Arab League has been served an ultimatum to start comprehensive dialogue with the opposition within two weeks. The Dubai-based paper quoted sources within the League...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Etihad Rail gears up Stage 2 of UAE national railway network Etihad Rail, the master developer and operator...
There seems to be a lull over the global economy. The recent comments by European Central Bank President Mario Draghi have again provided support to the equity and commodity markets. Added to this, the expected announcement from the Fed...
Dubai's Road and Transport Authority (RTA) announced it has awarded a 13-year maintenance contract of the Al Sufouh tram project in Dubai to a consortium of comprising of Alstom and Cofely-Besix worth AED851 million. "The selection of Alstom for...
A look at today's important financial news and business updates from the Middle East region: ATIC invests $2.4m into semiconductors research centre The Advanced Technology Investment Company (ATIC), a wholly-owned subsidiary of Mubadala Development Company is setting up research centre in...
A look at today's important financial news and business updates from the Middle East region: UAE Finance Minister rules out income tax imposition The UAE’s finance minister has rebuffed reports the government has plans of imposing income tax on individuals or...
Dubai Maintains Position as Middle East’s Automotive Hub Dubai continues to maintain its position as the Middle East’s automotive hub, following the extremely successful Commercial Vehicles Middle East (CVME) exhibition this month. Click here to read in detail. Water guzzling GCC...
A look at today’s important financial news and business updates from the Middle East region: Investors show strong interest in Dubai’s Sukuk bonds The Government of Dubai announced on Thursday it would be raising $1.25 billion in two 5 and 10...
A look at today’s important financial news and business updates from the Middle East and North Africa region: Dubai Airport Free Zone wins ‘Global Free Zone of the Future’ Award Dubai’s Airport Free Zone (DAFZA) has bagged the Global Free Zone...
A look at today’s important financial news and business updates from the Middle East region: UAE economy minister revises 2012 growth outlook The UAE’s economy minister predicted on Monday the country’s gross domestic product growth would expand at around 3% this...
A look at today's financial news and business updates from the Middle East region: 63% of UAE employees expect salary raise in next 12 months: Bayt.com/YouGov MENA Survey The latest MENA Salary Survey conducted by Bayt.com, the Middle East’s number one...
A look at today's important financial news and business updates from the Middle East region: Dubai eGovernment launches Supply2Dubai official procurement portal Dubai eGovernment, the Department in charge of supervising eTransformation in Dubai, has launched Supply2Dubai, the official Procurement Portal of...
A look at today's important financial news and business updates from the Middle East region: Dubai business registrations increase 17% in March ’12 More than 1,500 licences for businesses were issued during the month of March, a 17% increase compared to...
A look at today’s important financial news and business updates from the Middle East region: Dubai Tourism launches new environment initiative for green tourism The Dubai Department of Tourism and Commerce Marketing (DTCM) has launched a new initiative to improve the...
A look at today’s financial news and business updates from the Middle East region: Dubai shows impressive performance in The Wealth Report 2012 Dubai found a place amongst world’s fastest growing cities in importance for high net worth individuals (HNWIs). For quality...
A look at today's financial news and business updates from the Middle East region: UAE minister expresses concern over threats to regional shipping The UAE’s economy minister expressed his concerns over persistent piracy, volatile oil prices and threats to shut down shipping...
Middle East Business News Review - A look at today’s important financial news and business updates from the Middle East and North Africa region: Fujairah receives first oil flows through UAE’s Hormuz bypass pipeline A new pipeline connecting Abu Dhabi oil...
A look at today’s important financial news and business updates from the Middle East region: Global crisis not going to hurt local banking: UAE central bank The UAE central bank announced the country’s banks won’t be adversely impacted by the turmoil...
Iraq on Monday announced it has signed an initial deal with a Kuwait-led consortium and awarded contract to a Russia-led group to drill for energy, as part of efforts to strengthen its oil production capabilities. Baghdad is also considering two...
Sheikh Mohammed has approved an AED2bn construction package that oversees several tourism, residential and commercial projects across Dubai emirate. "The projects include the renovation of Al Maktoum Hospital, expansion of Le Meridien Airport Hotel, development of Al Muraqqabat and...
A look at today’s important financial news and business updates from the Middle East region: Dubai's Mohammed bin Rashid Al Maktoum Solar Park project gain momentum Dubai's plans to full steam ahead with it's Solar initiatives gained further momentum after Dubai...
A look at today's financial news and business updates from the Middle East region UAE Vice President promises more happiness for citizens The UAE’s vice president and ruler of Dubai has announced ambitious investment plans that will give a boost to...
A look at today's financial news and business updates from the Middle East region YouTube launches UAE version Google announced the launching of a UAE version of YouTube for users in the seven emirates on Sunday. The new YouTube.co.ae domain came amid...
Dubai's water and electricity authority (DEWA) said it has managed to grow power capacity by 18% last year amid rising demand in the emirate. The state-run utility company said its capacity increased to 8,718 megawatts (MW) in 2011 in...
Fujairah oil terminal ships first UAE oil amid Iranian threats of Strait closure The United Arab Emirates loaded its first cargo on Sunday from its multi-million dollar new oil export terminal on the Gulf of Oman, amid threats made by some...