Middle East Business Review – 25 Mar

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A look at today’s financial news and business updates from the Middle East region

Dubai tops Middle Eastern financial centres index

The UAE’s financial centres have improved their economic standing but still lag behind in the list of global economic hubs. Click here to read more details…

GCC trade surplus biggest in the world

The Gulf region posted a trade surplus of around $520bn last year which stands as the world’s biggest and almost twice that of nearest competitor China, a new research suggested. Click here for more details…

Real Madrid to open $1bn theme park, resort in UAE

Real Madrid and the Government of Ras al-Khaimah presented the Real Madrid Resort Island in the Presidential Balcony of the Santiago Bernabeu Stadium. The 50-hectare project will hold a theme park, the first stadium open to the sea, a Real Madrid museum, numerous sports facilities, a sport port, a residential area and luxury hotels. Click here for further details…

Emirates mulls not entering Saudi domestic flights market

A Saudi newspaper reported that Dubai’s carrier may no longer be interested in Saudi market because of the tough terms imposed by the Gulf Kingdom, the largest Arab economy and most lucrative regional market. Click here for more details…

Saudi developer subcontracts construction deals worth $397m

Leading Saudi developer Jabal Omar Development Co announced it will be awarding construction contracts worth SR1.49bn ($397m) to two local companies for the second phase of its Jabal Omar project.

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