May 30, 2013
With Indian companies and investors continuing to evince interest in Freezone Sohar, the economic hub is aiming to double investment from India to US$250mn in the coming two years from the present US$125mn.
Stocks in Dubai and Abu Dhabi continued to rise, with their benchmark measures gaining for the third straight day yesterday.
May 29, 2013
Standard & Poor's Ratings Services has revised the outlook on the long-term sovereign credit ratings on the Kingdom of Saudi Arabia to positive, from stable.
Trading activity remained flat on the local bourse as the Muscat Securities Market general index consolidated to close at 6,396.10.
Qatar's first Heating, Ventilation and Air- Conditioning (HVAC) systems exhibition will bring together 75 regional and international companies at the Doha Exhibition Center from June 4 to June 6.
Kuwait National Petroleum Co said yesterday that it has signed a $516 million contract with South Korean Daelim Industrial for the repair and expansion of sulphur processing facilities at the Gulf state's largest refinery of Mina Al-Ah madi.
Bumga Group, a construction materials major, affirmed its commitment to the autism spectrum disorder cause by pledging Dh1.8 million to Dubai Autism Centre (DAC).
The Saudi development fund agreed Tuesday to lend Tunisia USD 150 million (some 230 million Tunisian Dinars) to co-finance construction of 20,000 housing units for low-income people.
The oil-rich UAE began construction yesterday of a second nuclear power plant, one of four reactors aimed at cutting carbon dioxide emissions by some 12 million tonnes a year in 2020.
The value of announced projects in Abu Dhabi’s Western Region is Dh295 billion, a top-ranking Abu Dhabi government official told reporters on the sidelines of Al Gharbia Development Forum in the capital, an event aimed to draw new investors to the region.
More banks in the UAE are joining the SME lending bandwagon to expand their market share of the country’s financing segment.
Emirates NBD and Dubai SME have entered into a strategic partnership to extend up to Dh50 million in new loans dedicated to Emirati entrepreneurs and small businesses.
May 28, 2013
French firm Solar Euromed is to build a pilot solar energy station and laboratory in southern Jordan.
Enhanced private sector activity stimulated by higher government spending and growth in the non-oil and gas sector will drive Qatar’s real GDP growth to 6.5% this year and 6.8% in 2014.
Businessmen working in Egypt’s building materials sector warned that steel prices are expected to rise this coming June, as a result of increases in the price of raw materials and the continued devaluation of the Egyptian pound.