Kuwait’s GDP will be barely changed this year and should expand by 1 per cent in 2015, the latest National Bank of Kuwait (NBK) economic report shows (see table below). GDP at current prices will be KD 50bn in 2014 and…
Day: May 10, 2014
Saudi Arabia and UAE start railway co-operation
Saudi Arabia’s SAR and Etihad Rail of the UAE announced today they will start detailed collaboration. A memorandum of understanding signed by the two companies calls for the adoption of common solutions and the sharing of best practice. Committees including representatives from both companies will…
Chinese win phase II contract for Dubai Water Canal
Dubai’s Roads &Transport Authority (RTA) today announced it has approved the award of the contract for the second phase of the Dubai Water Canal project including bridges across the canal on Al Wasl and Jumeirah roads. The AED 384m ($100m) contract has been won by China State Corporation.…
Chinese visitors to UAE rise 200 per cent in first quarter
The number of Chinese visitors staying in UAE hotels and hotel apartments rose to 32,259 in the first quarter of 2014, according to figures released today. This was more than 200 per cent higher than the figure recorded in the first…
Iranian petchems to EU still blocked; WSJ
Iranian petrochemical exports are still being blocked by the EU despite the easing of sanctions effective since the start of 2014, the New York daily The Wall Street Journal has reported. Abbas Shea’ri Moghaddam, Iran’s deputy oil minister for petrochemicals,…