Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa UAE Middle East M&a leader – report The UAE, which has leapt six places to 20th in the...
The People's Bank of China announced it has signed a currency swap agreement worth AED20 billion ($5.54bn) with the UAE, during Chinese Premier Wen Jiabao's visit to Dubai. The statement added that the three years-long deal would boost two-way...
Dnata, the airline services arm of Emirates Group, has acquired a majority stake in Travel Republic, one of the leading British online travel agency firms for an undisclosed sum. The deal marks Dnata's biggest transaction to date and was...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Oman June oil output drops 4.1% Oman’s crude oil and derivatives production dropped 4.1% in June this year...
DUBAI TOURISM FIGURES UP BY 10% According to official figures released by Dubai Department of Tourism and Commerce Marketing (DTCM), the number of tourists visiting Dubai rose by 10% to a total of 9.3 million last year while the number...
The United Arab Emirates has been ranked fifth in the world in terms of government spending efficiency in the 2011-12 Global Competitiveness Report of the World Economic Forum. The report highlighted the UAE's efficient and transparent performance in terms...
Today’s top business news from the Middle East and North Africa: Oman announces desalination plants worth $400m An Omani government official announced on Thursday there are plans in place to build three desalination plants at a cost of about $400 million...
A look at today’s important financial news and business updates from the Middle East region: Doha 2020 Olympic bid eliminated The chase to host the 2020 Summer Games was cut down to a three horse race between Istanbul, Madrid and Tokyo...
Barclays bank announced it is willing to extend financing to the Government of Dubai if and when needed as it expects the emirate will support state entities help meet their debt obligations during this year. "We have a level...
Today’s top business and economy news from the Middle East and North Africa: UAE bank giants lead China expansion march Two of the UAE's largest banks are leading an expansion drive into China as trade between the two countries continues its...
UAE central bank directs lenders to reconsider Emiratis’ loans Lenders in the UAE have been directed by the country’s central bank to help reduce the debt burden of Emirati nationals. Some bankers are suggesting banks to write off certain personal...
Heavy fighting in Libya and floods in Pakistan dominate the front pages of The National and Khaleej Times with big photographs of the affected people wading through knee-deep waters taking centre stage. Gulf News, however, has published a 5-column...
According to a report released by the Dubai Economic Council, Dubai's GDP is set to grow 4.1% in the first quarter this year. The Dubai Economic Outlook 2011 suggested GDP growth is likely to suffer later during the year...
Oman Air has also made a spectacular move to match regional rivals Emirates after the Muscat-based airlines announced an order of six Boeing 787-8s Dreamliners at the Dubai Airshow. Oman Air currently operates direct flights to 41 destinations across...
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 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...
Government of Dubai declared it has no plans to restructure billions of dollars of state-linked debt next year, quashing rumours the emirate is facing new financial difficulties. ?The government is following a solid fiscal policy that strengthens the level...