Category Archives: Business

Oman to slash spending & increase taxes in 2016

24-hours-in-Muscat-722x424

Oman announces plans to increase corporation tax, cut spending, subsidies The sultanate is expected to post a budget deficit equivalent to 17.7 per cent of GDP for 2015. Oman, which has long followed a policy of “good housekeeping”  has announced … Continue reading

Category: Business

Saudi fuel price hike as 2016 budget shortfall projected

King-Salman

Saudi Arabia has announced that it will increase its fuel prices in line with other GCC countries amid an extended dip in oil revenues. The kingdom will increase the price of petrol by two-thirds to 0.75 riyals (Dh 0.73) a … Continue reading

Category: Business

Sisi’s commodity initiative fails to find universal favour

tn_IMG_4707

A plan by Egypt’s Presi­dent Abdel Fattah al-Sisi to bring down runaway commodity prices is seen by a wide section of the public as one last at­tempt to help the poor put food on the table but some economists fear … Continue reading

Category: Business

Gulf interest rates rise

pile-of-gold-coins_b

Four Gulf States have raised their interest rates following a historic decision by the United States Federal Reserve. The organisation increased interest rates for the first time in nine years on Wednesday in the belief that the US economy had … Continue reading

Category: Business

EBRD launches refugee crisis response

water-in-syrian-refugee-camp-jordan

To ease the pressure caused by the refugee crisis in the Middle East, the European Bank for Reconstruction and Development (EBRD) is providing a loan of up to $14 million to the Water Authority of Jordan (WAJ) to carry out … Continue reading

Category: Business

Dubai: new legislation causes consternation

dubai-145882

A new law that demands companies seek government approval before carrying out surveys in Dubai could hurt the property sector and discourage research in the emirate, experts have warned. The Dubai government announced a law late last month intended to … Continue reading

Category: Business

Business Report Tunisia: Towards sustainable growth

36

Researched and written by economist and international analyst, Moin Siddiqi Into the fifth year of The Arab Spring, Tunisia, despite stiff challenges, offers a genuine success story among the Arab countries in transition, including Egypt, Jordan, Libya, Morocco, Tunisia and … Continue reading

Category: Business

EBRD helps Egypt overcome energy shortfall

energy3

The European Bank for Reconstruction and Development (EBRD) is joining forces with a group of multilateral and regional lenders in Egypt to combat the country’s energy shortfall. The Bank is providing a $200 million loan to the Egyptian Electricity Holding … Continue reading

Category: Business

$60 million regional transport investment

3383147-taxi-in-abu-dhabi-at-night-united-arab-emirates2015-03-17-10-17-43

Careem, the MENA region’s locally founded app-based car service, today announced a Series C investment of $60 million with The Abraaj Group (Abraaj) as lead investor. This funding represents one of the largest investments in the region’s emerging technology sector … Continue reading

Category: Business

Oil prices forecast to “stay lower longer”

Stock-World-Fall-Fail-Crash-Globe-Money-Economy

Moody’s futures agency has downgraded its oil price forecast indicating more pressure will be put on the economies of the oil producing nations of the Gulf With oil prices expected to stay lower for longer, Gulf Cooperation Council (GCC) governments’ … Continue reading

Category: Business