October 15, 2014
UAE-based startup Amanat Holdings will invest in up to six businesses over the next two years. The firm is looking at the GCC's healthcare and education sectors.
The UAE's government will commence work on the $381 million Sheikh Mohammed bin Zayed residential city in Fujairah, according to a report.
The UAE's IT market, which was worth an estimated $4.1 billion in 2013, is expected to grow by 8.47 percent until 2018.
October 14, 2014
Kuwait's government awarded over $20.7 billion worth of contracts by the end of August, almost doubling the amount compared to 2013.
"The shekel-dollar rate has risen for the tenth successive week, reaching a peak of NIS 3.738/$ last week."
After a rocky Monday, most stock markets in the Middle East recovered with Saudi Arabia and Dubai leading the figures.
Sheikh Mohammed also said that the federal budget for 2015 will go towards health, education and social services.
The Egyptian Finance Ministry expects gross domestic product (GDP) to climb steadily and to reach 6 percent in FY 2017/18 as private sector investment rises to 15 percent of GDP.
GCC ministers will meet Tuesday to discuss how to boost tourism in the region. The delegation is due to be lead by Saudi Commission for Tourism and Antiquities President Prince Sultan bin Salman.
The UAE's national airline, Etihad, reported profits of $1.8 billion in the third quarter of 2014, an increase of 29 per cent year-on-year.
October 13, 2014
“The IMF does not have any reservations about the performance of Lebanon, and it understands what the region is going through and its impact on us.”
Stock markets in the Middle East appeared to be stabilising in early trade on Monday after falling sharply in the previous session in a broad sell-off.
Abu Dhabi Telemedicine Centre joins Mubadala’s network of specialist healthcare facilities and is the first in the UAE to offer a 24/7 medical teleconsultation service, run by medical professionals.
The contract, secured by Agility Defense and Government Services, will run from October 2014 to April 2016.
“$100 is no longer the ideal market price,” he said. “It’s good for producers but too high for consumers, leading to oversupply.”