Category Archives: Business

New Turkish Canal would rival Suez and Panama


Turkey is moving forward with controversial plans to build a canal to rival Suez and Panama but, its opponents say, it threatens to wreak environmental havoc, destroy budgetary balances and drive sprawl in Europe’s biggest city. President Recep Tayyip Erdogan said … Continue reading

Category: Business

GCC: Will income tax help balance budgets?


GCC income tax Continue reading

Category: Business

EBRD puts down roots in Lebanon


The EBRD, established in 1991 with the goal of supporting market economies and promoting the private sector, is to begin investing in Lebanon after the Bank’s Board of Governors decided in favour of Lebanon’s application to become a country of … Continue reading

Category: Business

Oman uses Chinese funds to help balance the books


The government of Oman has raised $3.55bn through a loan from a group of Chinese financial institutions, the latest fundraising by the sultanate which has borrowed over $10bn this year to replenish coffers hit hard by lower oil prices, according … Continue reading

Category: Business

GCC Economies: Must try harder


GCC economies must try harder Continue reading

Category: Business

EBRD throws its weight behind Palestine

Young Palestinians living in the West Bank would benefit from

A thriving private sector is key to the development of the Palestinian economy but sadly, too few international financial institutions have been willing to participate in helping build the foundations for a successful investments to develop and grow. However, at … Continue reading

Category: Business

EGYPT: $290 million rail network upgrade

EBRD funding will help Egypt replace some of its ageing rolling stock

Millions of commuters across Egypt are set to benefit from a €290 million financing provided by the EBRD to support the Egyptian National Railways (ENR) in its fleet expansion and upgrade of services. As part of ENR’s locomotive renewal programme, … Continue reading

Category: 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