Middle East Business Review – 26 Mar

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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 strategy to improve the nation’s global competitiveness and facilitate transformation into digital age. Click here to read more…

Hormuz-bypassing new gas terminal credit-positive for UAE – Moody’s

Moody’s Investors Service welcomed a recent decision by state-owned entities in the UAE to build a new liquefied natural gas import terminal that bypasses the strategic Strait of Hormuz and termed it as ‘credit-positive’. Click here to read more…

Air Arabia increases flights to Saudi Arabia

Air Arabia said it will be launching additional services to Dammam in Saudi Arabia. The launch of the additional service will commence from Wednesday which will bring the Sharjah-based budget carrier’s flights to the eastern Saudi port city to three daily. Click here to read more…

Kuwait to launch tenders for multi-billion dollar airport terminal

Kuwait announced it will launch an initial tender for construction of a second terminal at its international airport in coming weeks. Kuwait News Agency (KUNA) said on Monday the project is worth around 700m to 800m Kuwaiti dinars ($2.5bn-$2.9bn). Click here for to read in detail…

Saudi seeking to increase desalination capacity by 2015

Water desalination capacity in Saudi Arabia will hit 200,000 cubic metres by 2015 as the Gulf kingdom grapples to meet soaring demand, an expert said in Riyadh. Click here to read more…

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