GCC equity markets rose by more than 20 per cent in the first four months of 2014 to $1.14tn, according to a report issued today by the National Bank of Kuwait (NBK). “By the end of April, the region had…
Month: May 2014
Middle East’s first self-scanning shop to open in Madinat Zayed in June
The Middle East’s first supermarket using self-scanning technology is due to open in Madinat Zayed in Abu Dhabi’s Western Region in June, the 2nd Al Gharbia Development Forum in Abu Dhabi was told this afternoon. The new shop, branded as…
Western Region of Abu Dhabi needs more social infrastructure, Al Gharbia Forum told
The 2nd Al Gharbia Development Forum was told this morning that more investment is needed in housing and social infrastructure to support the drive to increase business activity and employment in the Western Region of Abu Dhabi. “We need to…
Al Gharbia Forum told Western Region development programme producing results
The 2nd Al Gharbia Development Forum was told this morning that the development programme for the Western Region of Abu Dhabi is beginning to deliver results. “We will be announcing a number of vital projects later today at this conference,”…
IMF forecasts Omani growth to be 5.5 per cent in 2014
Oman’s real GDP growth was 5.5 per cent in 2013 and will remain at this level in 2014, according to an IMF statement released earlier in May following an IMF mission to the sultanate. “Fiscal and external sectors are estimated…
IMF report highlights high unemployment in key Arab states
The IMF Survey published on 16 May contained fresh confirmation of the shockingly high unemployment in key Arab states. The survey reports unemployment in the Middle East and North Africa is among the highest in the world. It is also largely…
Dubai water projects excite the market
Two major Dubai waterside projects are exciting the UAE construction market. MEED reported today that Shaikh Mohammed Bin Rashid al-Maktoum had approved the $544m Dubai Creek waterside project which will be developed by Meraas. Companies in Dubai are also preparing…
Trump returns to Dubai real estate market
US developer Donald Trump today launched the 42 million square foot golf community that he is developing in Dubai in collaboration with Damac Properties. The Akoya by Damac includes the Trump International Golf Course, Dubai and 104 Trump Estate villas. The…
DLA Piper says arbitration centre a major step for Saudi Arabia
Saudi Arabia’s first arbitration centre will be a potentially significant development for commercial parties doing business in one of the region’s most important markets, DLA Piper said in a report issued today. Saudi Center for Commercial Arbitration is to be…
Abu Dhabi room rates to rise despite new hotels: The National
Average hotel room rates will rise despite the opening of new hotels in the UAE capital, Millennium & Copthorne Hotels Middle East & Africa CEO Ali Alzaabi is reported as saying this morning by the Abu Dhabi daily The National.…