Main headlines

August 28, 2014

The Kingdom’s annual rate of energy consumption exceeded 5 percent while the economic growth rate reached 4 percent
07:13 GMT

Although the Kingdom has the largest oil reserves in the world and occupies the fifth place in terms of natural gas reserves, yet according to a report by oil specialist the Kingdom faces many challenges as a result of a number of different factors, including its need to meet the requirements of development.

Dubai Expo 2020 is expected to host up to 300,000 visitors during peak time (Image: Khaleej Times)
06:58 GMT

Planning for Dubai Expo 2020 has entered the next phase, organizers said in a statement Wednesday.

MPs criticised the government approach in dealing with several large-scale investments in renewable energy
06:19 GMT

The Lower House on Wednesday referred the draft renewable energy law to its Energy Committee giving it urgency status, after dozens of MPs took part in the “first reading” of the bill.

August 27, 2014

Residential rents dropped by 2.9 percent in the first half of 2014 (File/AFP)
12:26 GMT

Dubai residential rents have dropped slightly in the first half of 2014 by 2.0 percent according to a recent report from the Phidar's House Price Index.

Construction represents an increasing share of overall gross domestic product (GDP)
11:55 GMT

The construction sector grew 2% while the cost of key materials including cement, ready mixed concrete, and reinforcement steel grew over 6% in the last quarter,

The new Geant supermarket will be the biggest in Abu Dhabi (Image: Geant)
11:30 GMT

Aldar Properties announced another significant phase in the pre-opening of the widely anticipated Yas Mall, due to launch in November 2014.

A draft of the new labour law initially stipulated a 40-hour working week, down from 48
10:26 GMT

A plan by Saudi Arabia’s labour ministry to give two days off a week in the private sector is being shelved following tremendous pressure from investors and the business community.

Prince Faisal bin Salman praised the holy city for its efforts to encourage young people into business (File/AFP)
09:54 GMT

Prince Faisal bin Salman said Medina is an investment-friendly province and called for young people to put their ideas into viable projects.

The completion of the refurbishment is set for 2016 (Image: MAF)
09:12 GMT

Mall of the Emirates has entered the second phase of a major refurbishment plan, carried out by leading developer, Majid Al Futtiam (MAF).

The new guide also includes information on small-business growth
08:41 GMT

Research and consultancy firm Oxford Business Group published a new guide to Saudi Arabia's economy and finance.

The project is due to be completed in late 2015 (Image: Tecom Investments)
07:50 GMT

Tecom Investments launched a new 440-villa project close to its DuBiotech business park in Dubai, due for completion in Q4, 2015, according to the National.

The Index posted a monthly average of 33.4 in the first half of 2014, increasing by 16.5 percent from the second half of 2013
07:17 GMT

Byblos Bank/AUB Consumer Confidence Index improved marginally in January and February, picked up pace in March and April, and regressed in May and June 2014.

That occupancy rates have dropped by 50 percent over the past week
06:57 GMT

Children’s new bedtimes for school are keeping families away from entertainment venues, leading to a sharp dip in revenues following an extravagant 100-percent occupancy rate during Ramadan and Eid.

A Kuwaiti man withdraws cash from an ATM machine (File/AFP)
06:55 GMT

Bahrain's Gulf Finance House Wednesday signed a $105 million deal with Kuwait Finance House in the wake of the global finance crisis, which hit the Middle East.

Dubai’s households spend between Dh37,000 and Dh85,000 each year
06:24 GMT

Dubai’s impressive average spending power of Dh53,000 ($14,400) per household per year has seen the retail sector riding a wave of growth to reach record figures, a report said.