Middle East Business Review – 4 Apr

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

Abu Dhabi-Dubai rail link to be completed by 2016

An Arabic language UAE newspaper said on Wednesday a multi-billion inter-Emirates rail network project will link the country’s two main cities of Abu Dhabi and Dubai by 2016. The semi official daily Al Ittihad also added that other parts of the UAE would also be included by 2018. Click here to read more…

Dubai real estate attracted multi-billion dollar investments in 2011

According to the Land Department’s 2011 report, citizens of the Gulf Cooperation Council invested around AED12 billion ($3.27bn) in Dubai’s real estate sector last year. Click here to read more…

Saudi consultative body rejects ‘expats tax’ proposal

Saudi Shura Council members have rejected a proposal to tax expatriates on any financial gains made in the kingdom, terming it detrimental to country’s economic interests. Click here to read more…

Bahrain budget deficit increased 5-fold in last 10 years: Finance Minister

A senior Bahraini government official revealed the country’s budget deficit has ballooned up to five-times in the last 10 years. He added that the figure stood at 1.8% in 2002 and is expected to reach around 9.7% by the end of this year. Click here to read more…

Blackberry boasts Middle East sales

Research in Motion (RIM), the makers of Blackberry mobiles, announced they are seeing a positive growth in handsets sales in the Middle East, despite a gloomy global outlook for the top Canadian brand. Click here to read more…

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