Monday , 23 October 2017
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Soft-landed UAE economy poised for a convincing comeback

Dubai: The UAE’s economic growth which faced strong headwinds following prolonged low oil prices and slump in international trade has managed a soft landing, with a less pronounced cycle than in 2008 according to According to Bank of America Merrill Lynch. Analysts expect a convincing a turnaround from 2018, according to recent economic forecasts. “We expect non-oil real GDP growth …

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IPO surge: Saudi SMEs help 2017 hit a five-year high

The first quarter of 2017 saw 10 new initial public offerings (IPOs) registered on the stock markets among the six members of the Gulf Cooperation Council (GCC), a five-year record high and propelled by Saudi Arabian small and medium-sized businesses, according to a press release issued by consultancy firm PwC. IPO news in the region is important, as Saudi Arabia, …

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Bahrain-based GIB gains retail banking licence for digital venture

Gulf International Bank (GIB) said on Wednesday it had been granted a retail banking licence in Bahrain by the kingdom’s central bank for its digital venture called Meem. GIB is licenced by Bahrain’s central bank, headquartered in Bahrain and owned by the governments of the six Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund the principle shareholder with …

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Middle East millennials work harder, driven by desire to make positive impact: Study

Millennial business owners in the Middle East are more likely to be driven by the desire to increase their influence and have a positive impact on others than the overall average for entrepreneurs globally, according to a new study by HSBC Private Bank. The bank’s second Essence of Enterprise report, launched recently, researched the views of over 4,000 entrepreneurs globally …

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Saudia to carry record 10.3mln passengers this summer

Saudi Arabian Airlines (Saudia) has released its summer plan, outlining the preeminent operational aspects during the upcoming peak season starting from June 24 to Sept. 16. The plan shows a record increase in the number of flights and seating capacity both internationally and domestically, to prepare for the dramatic increase in the demand for air travel in the summer period. …

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UAE ranked 1st in MENA region and 35th worldwide in Global Innovation Index 2017

The UAE has improved its standing in the 2017 Global Innovation Index, GII, topping all Arab countries and ranking 35th globally to improve six places from last year’s 41st position cementing its status as one of the world’s most innovative countries. The results of the index were officially announced during a press conference held on 15th June at the UN …

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Egypt’s investment law executive regulations to be finalised in 10 days

Egypt’s Investment Minister Sahar Nasr will finalise the executive regulations for a newly issued investment law within 10 days and submit them to the prime minister for approval, she told Reuters on Saturday. “I formed a ministerial committee which I head with all relevant ministries and stakeholders including private-sector representatives and parliamentarians. The committee is finalising the draft for submission …

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Now, smartphone is your passport in Dubai

Dubai: Passengers departing from Dubai International Airport can now use their smart phones at the smart gates instead of their passports as part of a new service called Smart UAE Wallet. Lt General Dahi Khalfan Tamim, deputy chairman of police and public security in Dubai and Major-General Mohammad Ahmad Al Merri, director-general of the General Directorate of Residency and Foreigners …

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Emaar to launch IPO of real estate development business by November: Al Arabiya TV

Dubai-based Emaar Properties plans to launch the initial public offering (IPO) of its real estate development business by November, Emaar’s chairman Mohamed Alabbar told Al Arabiya TV on Thursday. Emaar, whose interests span hotels, entertainment and shopping malls, said on Wednesday it had decided to list the real estate development business in Dubai to maximise value for shareholders, which would …

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A woman’s tale: working as a female entrepreneur in a male-dominated world

Standing on stage at an event in Abu Dhabi to celebrate International Women’s Day, Dunia Othman was quizzed by members of the mainly female audience on why, out of all of the opportunities open to her, she chose to male-focused name for her product and even put a prominent moustache in her logo. “Mr Usta, the name chosen for the …

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