Category Archives: 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

Gulf interest rates rise


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


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


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


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


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


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”


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

TAXATION – a unified GCC system not the best choice


Much discussion has centred on the UAE’s decision to introduce value added tax (VAT). I am not  sure when this will take place, but a lot of speculation is going on about how this could be agreed upon and then … Continue reading

Category: Business