Category Archives: Business

UAE: Top 10 banks


The GCC banking sector recorded lower returns in 2016, particularly due to increased provisioning and impairment charges as loan asset quality remained under pressure, Gulf Business confirmed in a recently published special report. In the UAE, the banking sector posted a 6.3 per … Continue reading

Category: Business

OMAN: foreign ownership in MSM stock declines


Foreign investors are offloading shares on the Muscat Securities Market (MSM), which has resulted in a marginal dilution of non-Omani holdings on the local bourse, according to reports in Muscat. With a drop in crude oil and natural gas prices … Continue reading

Category: Business

DUBAI: $1 billion e-commerce site launch imminent

Mohamed Alabbar


Category: Business

OMAN to slash crude supplies to Asia


Oman will cut crude oil exports to Asia by 15 per cent to meet local demand, the Ministry of Oil and Gas said in Muscat. The supply cuts are expected to begin from June this year and will partly account for … Continue reading

Category: Business

EGYPT: goes greener with European help


Three international development banks have teamed up with the European Union (EU) to promote green investments in Egypt, supporting projects to boost energy efficiency and the development of renewable energy sources in the country at a time of rising energy … Continue reading

Category: Business

Huge new gas discovery in Egyptian waters


The discovery of a huge natural gas deposit in Egyptian waters has boosted hopes of other such finds in the Eastern Mediterranean that could help meet Europe’s energy needs, a senior official with the Italian oil and gas company ENI … Continue reading

Category: Business, Uncategorized

Is a merger between Etihad & Emirates on the cards?


UAE: airline merger? Etihad & Emirates to join forces? Continue reading

Category: Business

OMAN: New income tax laws recognise few exceptions

From now on companies in Oman's mining and hotel sectors, as well as private schools, universities and nurseries will also no longer be exempt f tax.

OMAN: New income tax laws recognise few exceptions Continue reading

Category: Business

EGYPT ENERGY: In need of reform and foreign investment


In this special report, Nehad Ismail, Senior Analyst at Wikistrat, examines the future of Egypt’s energy sector and finds much cause for optimism in recent legislation alongside opportunities for new international investment While Egypt is a producer and exporter of … Continue reading

Category: Business

UAE: banks warn of new tax law implications

The UAE's tax free status has made it a popular destination with professionals from around the world but could things be on the cusp of change?

UAE  banks are starting to warn their customers about new international tax compliance measures that will take effect in January as governments ramp up efforts to catch tax evaders. HSBC sent a circular to clients on Thursday alerting them to … Continue reading

Category: Business