Category Archives: Business

EBRD to host Tunisian trade initiative


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


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


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


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.


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


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?


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

Oman to slash spending & increase taxes in 2016


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


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


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