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Tag Archives: Business

Small change: Dubai, Saudi in push to help support SMEs

Small and medium-sized enterprises are the backbone of all economies in the Middle East. According to a report by Dubai SME, these businesses are described as the “anchors of any economy” and represent 95 percent of companies in the emirate of Dubai, account for 42 percent of the workforce and contribute around 40 percent to the total value of the …

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Saudi Arabia, UAE salary increases highest in GCC

Saudi Arabia, followed by Kuwait and the UAE continue to lead the region in salary increases in 2017, according to a new survey. The GCC-wide survey of 600 multi-national companies and locally-owned conglomerates by Aon, also showed that Saudi Arabia and Kuwait have the highest salary increase projections for 2018, at an optimistic 4.5 per cent. The data showed that, …

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First 11 firms enrolled into DIFC’s fintech accelerator

Dubai International Financial Centre (DIFC) has announced that 11 firms have been chosen to take part in its accelerator programme for new financial technologies, known as FinTech Hive. The programme, which is being launched in partnership with management consultancy Accenture, is a 12-week course that will see the selected firms working closely with financial institutions and other stakeholders to help develop …

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Etihad Airways sets new CEO deadline, may join late 2017

Etihad Airways has delayed the appointment of its new group chief executive to late 2017 with the hiring of a new boss nearly finalised, the airline said on Monday. In May, Abu Dhabi’s Etihad appointed executive Ray Gammell as interim Group CEO to replace veteran CEO James Hogan who left on July 1. At the time, Etihad said it was …

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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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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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2017 will be a year for reshaping the way we do business, according to ‘The 2017 Economic Outlook’ discussion at Capital Club Dubai

The event, led by experts in their respective fields, highlighted key growth areas as well as challenges for the year ahead ‘The 2017 Economic Outlook’ discussion recently hosted at Capital Club, Dubai’s Premier Private City Club and member of the ENSHAA group of companies, offered Members key insights into what to expect in the coming year regarding the region’s economy. …

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Nine in 10 GCC leaders believe health and safety key to business success, survey reveals

Leaders across the GCC are identifying worker protection against injury and ill health as vital to safeguarding their businesses’ reputation and resilience and improving productivity, according to new survey findings published today. Nine in 10 senior managers operating within the Gulf Corporation Council believe the investment decisions they make on health and safety are business critical, with 85 per cent …

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Batelco Bahrain CEO named Businesswoman of the year at Arabian Business Awards

Prestigious Awards Recognise the Outstanding Efforts of Eng. Al Hashemi Manama, Bahrain: Batelco Bahrain CEO Eng. Muna Al Hashemi has been named Businesswoman of the Year at the Arabian Business Achievement Awards event held at the Armani Hotel, Dubai, UAE on November 28. The Arabian Business Achievements Awards is considered among the most prestigious awards events in the region with …

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Is Saudi Arabia’s Vision 2030 starting to take shape?

Microsoft co-founder Bill Gates believes young people in Saudi Arabia are key to the country achieving its Vision 2030 reform plan. The reforms put in place earlier this year by the oil-rich kingdom appear to be taking hold, if we are to go by two major economic announcements this week. The first was the Saudi Arabian central bank’s announcement that …

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