Category Archives: 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

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