Category Archives: Business

Falling oil price forces Abu Dhabi’s hand

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Abu Dhabi expects to post a wider budget deficit of Dhs 36.9bn ($10.1bn) in 2016 because of low oil prices, and plans to cover the gap mainly with international bond issues, a prospectus for a bond sale by the emirate … Continue reading

Category: Business

Exclusive to The Middle East Online . . . Arabian Travel Market 2016 focuses on Responsible Tourism

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By Rhona Wells The 23rd Arabian Travel Market (ATM) will be held at the Dubai International Convention & Exhibition Centre from 25-28 April. With greater global awareness about the importance of maintaining our environment for future generations, responsible tourism will be … Continue reading

Category: Business

Saudi Arabia turns to global markets to restore oil revenue shortfall

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Saudi Arabia is reported to be close to securing a $10 billion  loan deal from international banks as it tries to recover from plunging oil revenues. It is the first time the Kingdom  has gone to the international markets since … Continue reading

Category: Business

EBRD to host Tunisian trade initiative

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The European Bank for Reconstruction and Development (EBRD) has revealed plans to  host a trade finance training workshop in Tunisia as part of its ongoing support to the financial sector and the development of import and export activity in the … Continue reading

Category: Business

Bahrain – Saudi causeway expansion plan revealed

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The King Fahd causeway, which connects Bahrain and Saudi Arabia, is set to undergo a major expansion to meet growing traffic on the route. The expansion involves increasing the number of lanes from 17 to 45, representing an increase of up … Continue reading

Category: Business

Egypt set to boost energy security facilities

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A $341 million facility to Sonker, an Egyptian company providing hydrocarbon storage and bunkering, will support a significant upgrade of the country’s oil and gas infrastructure and will contribute to the energy security of Egypt. The International Finance Corporation (IFC), … Continue reading

Category: Business

New Kuwait Fund will manage $100m in local assets

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Kuwait plans a new state-owned fund to manage as much as $100 billion in local assets with the goal of selling them to private investors in five to seven years, according to local media reports. The new sovereign wealth fund … Continue reading

Category: Business

UAE anticipates $3.3bn windfall from introducion of V.A.T.

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The UAE is likely to generate revenues of more than $3bn in its first year of implementing value added tax, a senior government official has confirmed. Continue reading

Category: Business

EBRD invests €1.4 billion in SEMED states

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In 2015 the European Bank for Reconstruction and Development (EBRD) invested over €1.4 billion in 37 projects across the southern and eastern Mediterranean (SEMED) region, where it began investment operations in 2012. The investments were made in the energy and … Continue reading

Category: Business

Is Saudi Aramco worth 10 times more than Apple?

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Saudi Aramco could be worth $10 trillion following listing; analysts estimate the company could now be worth more than 10 times Apple Inc’s peak of $756bn. State-owned Saudi Aramco said it was considering listing in capital markets on Friday, in … Continue reading

Category: Business, Uncategorized